488 Albert Ave · Paradise, NV 89119

$899,998

10 bd · 6.0 ba · 3,402 sqft · MultiFamily public records · 25 Days on market

Built 1963 5,663 sqft lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

This beautiful property has been Fully renovated. This 4-unit multifamily property features two 3-bedroom / 2-bath units and two 2-bedroom / 1-bath units. Total 10 bedrooms and 6 baths. Each unit has been upgraded with modern kitchens, quartz countertops, new stainless steel appliances, new flooring, and fully remodeled bathrooms. Each unit include in-unit washer and dryer, dedicated storage, and the property is fully fenced and secured. Conveniently located near UNLV, the Las Vegas Strip, shopping, dining, and major transportation routes. Excellent turnkey investment opportunity.

Key facts

• Fully renovated
• Quartz countertops
• Modern kitchens

Tags

• FULLY RENOVATED
• MODERN KITCHENS
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW FLOORING
• REMODELED BATHROOMS

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $349/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $841k (6.5% below list).
• Recommended offer: $841k (6.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#10 in NV, #3,494 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-, cost of living B; Watch: employment D+, schools F, crime D-.
• Clark County School District (urban): math 21% / reading 39% proficiency, ranked #11 of 17 in NV (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.8%/yr); 199 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $8,413/mo this rent would consume 215% of the median local household income ($47k/yr) (locally 4678% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $196k; list at $900k implies a 359% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $841,300 (6.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-81,941
• Equity at exit: $134,193

10-year hold

• IRR: -3.7%
• Equity multiple: 0.79×
• Total profit: $-53,913
• Equity at exit: $77,815

Cash invested: $251,999 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 71 Landlord-Friendly
• State Nevada: 71 Landlord-Friendly · R+1
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; Clark County (Vegas) had pandemic backlogs; generally landlord-friendly but courts slow.

Methodology + full state rankings →

ZIP-level market 89119

• Rents YoY: -1.8%
• Active inventory: 199
• Price-to-rent: 35.7×

Monthly cashflow live

• Estimated rent: $8,413 high
• Mortgage (P&I): −$4,720
• Tax from tax record: −$154 /mo · $1,846/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,767
• Net cashflow: $1,398

Break-even live

Break-even rent $6,644

Max offer price $899,998

Occupancy floor 78%

Sensitivity live

Price	-10% $1,907	-5% $1,652	+0% $1,398	+5% $116	+10% $-195
Rent	-10% $733	-5% $1,065	+0% $1,398	+5% $1,730	+10% $2,062
Rate	-1.0pp $1,851	-0.5pp $1,627	base $1,398	+0.5pp $1,165	+1.0pp $927

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$8,412
Total (4 units)			$8,413

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-05-08
   status Pending 587-char remark

   Show marketing remark (587 chars)

   This beautiful property has been Fully renovated. This 4-unit multifamily property features two 3-bedroom / 2-bath units and two 2-bedroom / 1-bath units. Total 10 bedrooms and 6 baths. Each unit has been upgraded with modern kitchens, quartz countertops, new stainless steel appliances, new flooring, and fully remodeled bathrooms. Each unit include in-unit washer and dryer, dedicated storage, and the property is fully fenced and secured. Conveniently located near UNLV, the Las Vegas Strip, shopping, dining, and major transportation routes. Excellent turnkey investment opportunity.

2. 2026-04-13
   price $899,998 587-char remark

   Show marketing remark (587 chars)

   This beautiful property has been Fully renovated. This 4-unit multifamily property features two 3-bedroom / 2-bath units and two 2-bedroom / 1-bath units. Total 10 bedrooms and 6 baths. Each unit has been upgraded with modern kitchens, quartz countertops, new stainless steel appliances, new flooring, and fully remodeled bathrooms. Each unit include in-unit washer and dryer, dedicated storage, and the property is fully fenced and secured. Conveniently located near UNLV, the Las Vegas Strip, shopping, dining, and major transportation routes. Excellent turnkey investment opportunity.

3. 2026-04-13
   listed $899,999 Active 587-char remark

   Show marketing remark (587 chars)

   This beautiful property has been Fully renovated. This 4-unit multifamily property features two 3-bedroom / 2-bath units and two 2-bedroom / 1-bath units. Total 10 bedrooms and 6 baths. Each unit has been upgraded with modern kitchens, quartz countertops, new stainless steel appliances, new flooring, and fully remodeled bathrooms. Each unit include in-unit washer and dryer, dedicated storage, and the property is fully fenced and secured. Conveniently located near UNLV, the Las Vegas Strip, shopping, dining, and major transportation routes. Excellent turnkey investment opportunity.

4. 2026-04-13
   historical

   Show marketing remark (587 chars)

   This beautiful property has been Fully renovated. This 4-unit multifamily property features two 3-bedroom / 2-bath units and two 2-bedroom / 1-bath units. Total 10 bedrooms and 6 baths. Each unit has been upgraded with modern kitchens, quartz countertops, new stainless steel appliances, new flooring, and fully remodeled bathrooms. Each unit include in-unit washer and dryer, dedicated storage, and the property is fully fenced and secured. Conveniently located near UNLV, the Las Vegas Strip, shopping, dining, and major transportation routes. Excellent turnkey investment opportunity.

5. 2026-04-03
   price $949,000
6. 2026-03-13
   listed $950,000 Active
7. 2025-10-17
   listed $420,000
8. 2016-08-24
   soldstatus $196,000
9. 2016-08-23
   soldstatus $196,000 Sold
10. 2016-07-29
    historical Contingent Offer
11. 2016-07-02
    status Active
12. 2016-05-06
    historical Contingent Offer
13. 2016-05-02
    price $204,900
14. 2016-05-01
    listed $199,900 Exclusive Right
15. 2014-04-04
    soldstatus $180,000
16. 2014-03-10
    historical
17. 2014-02-17
    price $199,000
18. 2014-01-14
    listed $220,000 Exclusive Agency
19. 2013-02-14
    soldstatus $556,000
20. 2008-01-31
    soldstatus $550,000
21. 2006-09-28
    soldstatus $454,905
22. 2005-11-02
    soldstatus $385,000
23. 2005-03-25
    soldstatus $286,000
24. 2004-03-24
    soldstatus $265,000
25. 1999-10-04
    soldstatus $159,000
26. 1990-06-29
    soldstatus $140,000
27. 1987-05-29
    soldstatus $102,000
28. 1987-02-27
    soldstatus $135,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NV · Resets to sale price

• Current annual tax: $1,846 · $154/mo
• Projected year-2 tax: $5,310 · $442/mo
• Expected delta: +$3,464/yr (+$289/mo · 187.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $100,956
• − Mortgage interest: −$50,414
• − Property taxes: −$1,846
• − Insurance: −$4,500
• − Repairs & maintenance: −$8,076
• − Management: −$8,076
• − Depreciation: −$26,182
• Taxable income: $1,861
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $16,326/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clark County School District
• NCES district ID: 3200060
• Math proficiency: 21% ▼ -13.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $53,611
• Composite: 26.48/100
• National rank: #7211
• State rank: #11 of 17 in NV

Livability — Paradise

• Score: 76/100
• State rank: #10
• US rank: #3494

Category grades

Amenities B- Commute A+ Cost of living B Crime D- Employment D+ Housing A- Health & safety B User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise, NV
• County: Clark County · 2,306,105 people
• City population: 227,885
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 50,196
• Household income: $46,960
• Rent vs Own: 77.2% rent · 22.8% own
• Severe rent burden: 4678.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 2,504,101 people
• By 2030: 2,693,770 · +7.6%
• By 2040: 3,061,208 · +22.2%
• By 2050: 3,400,072 · +35.8%
• By 2075: 4,139,522 · +65.3%
• By 2100: 4,596,916 · +83.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 38% White 29% Two or more races 18% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1% Cuban 4%
• Common ancestry: Romanian 2% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 29% Tagalog/Filipino 6% Other Indo-European 3%

Political lean MEDSL · Clark

• 2024 margin: Toss-up / Even · D 50.4% · R 47.8% · Other 1.7%
• 2008→2024 swing: -16.5pp toward R · 2008: 19.1pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+9.3 2016: D+10.7 2012: D+14.5 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -221.72%
• Current HPI: 266.4892
• Rent YoY: ▼ -1.81%
• Metro: Las Vegas-Henderson-Paradise, NV
• State GDP YoY: ▲ 3.08%
• F500 in state: 6

Industry mix (Fortune 500 HQ in NV)

Industry	F500 HQs	Revenue
▸Hotels / Casinos	3	$36B

Price history

+566.7% since first listed

28 events — show timeline

• 2026-05-08 Pending — GLVAR
• 2026-04-13 Price Changed $899,998 GLVAR
• 2026-04-13 Listing Removed — GLVAR
• 2026-04-13 Listed $899,999 GLVAR
• 2026-04-03 Price Changed $949,000 GLVAR
• 2026-03-13 Listed $950,000 GLVAR
• 2025-10-17 Listed $420,000 GLVAR
• 2016-08-24 Sold (Public Records) $196,000 Public Records
• 2016-08-23 Sold (MLS) $196,000 GLVAR
• 2016-07-29 Contingent — GLVAR
• 2016-07-02 Relisted — GLVAR
• 2016-05-06 Contingent — GLVAR
• 2016-05-02 Price Changed $204,900 GLVAR
• 2016-05-01 Listed $199,900 GLVAR
• 2014-04-04 Sold (Public Records) $180,000 Public Records
• 2014-03-10 Listing Removed — GLVAR
• 2014-02-17 Price Changed $199,000 GLVAR
• 2014-01-14 Listed $220,000 GLVAR
• 2013-02-14 Sold (Public Records) $556,000 Public Records
• 2008-01-31 Sold (Public Records) $550,000 Public Records
• 2006-09-28 Sold (Public Records) $454,905 Public Records
• 2005-11-02 Sold (Public Records) $385,000 Public Records
• 2005-03-25 Sold (Public Records) $286,000 Public Records
• 2004-03-24 Sold (Public Records) $265,000 Public Records
• 1999-10-04 Sold (Public Records) $159,000 Public Records
• 1990-06-29 Sold (Public Records) $140,000 Public Records
• 1987-05-29 Sold (Public Records) $102,000 Public Records
• 1987-02-27 Sold (Public Records) $135,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $1,846 · -27.4% YoY. Source: county tax records.