4348 Tara Ave #2 · Las Vegas, NV 89102

$129,000

2 bd · 1.0 ba · 902 sqft · Condo public records · 53 Days on market

Built 1982 $240/mo HOA · 16% of rent

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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 +20.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• DSCR +6.6/10.0
• Livability +4.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER - PRICED TO SELL!!! DON'T MISS THE OPPORTUNITY * * Convenient central SW location near Chinatown, just minutes from the Strip. Perfect downstairs condo, newly renovated—ideal for investment or owner-occupancy. This 2-bedroom, 1-bath unit features wood-like flooring throughout, stylish two-tone custom paint, a modern kitchen with newly installed quartz countertops and stainless steel appliances next to a formal dining room. The front spacious living room is great for gathering and entertaining. Beautiful bathroom with tub and shower, plus a large laundry room offering ample storage.

Key facts

• Formal dining room
• Large laundry room
• Modern kitchen

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• FORMAL DINING ROOM
• SPACIOUS LIVING ROOM
• LARGE LAUNDRY ROOM
• AMPLE STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#2 in NV, #1,723 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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 (-2.1%/yr); 140 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 90% of comp listings sitting > 30 days — soft ceiling on asking rent; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• This rent runs 36% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k 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 53 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 8y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 7.2

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: -11.1%
• Equity multiple: 0.61×
• Total profit: $-14,143
• Equity at exit: $19,234

10-year hold

• IRR: -7.6%
• Equity multiple: 0.59×
• Total profit: $-14,671
• Equity at exit: $11,154

Cash invested: $36,120 (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 89102

• Rents YoY: -2.1%
• Active inventory: 140
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,500 high
• Mortgage (P&I): −$676
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$54
• HOA: −$240
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $174

Break-even live

Break-even rent $1,280

Max offer price $129,000

Occupancy floor 83%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4545 Pennwood Ave Las Vegas, NV	1.0–2.0	1.0–2.0	725	$1,225	$1.69	44d	6	0.32mi
4747 Pennwood Ave Las Vegas, NV	1.0–2.0	1.0–2.0	839	$1,577	$1.88	44d	25	0.43mi
2666 S Decatur Blvd Las Vegas, NV	1.0–3.0	1.0–2.0	938	$1,719	$1.83	44d	15	0.47mi
2950 S Decatur Blvd Las Vegas, NV	2.0	1.0–2.0	690	$1,608	$2.33	44d	22	0.51mi
2851 S Decatur Blvd Las Vegas, NV	1.0–2.0	1.0–2.0	866	$1,704	$1.97	44d	15	0.54mi
4550 W Sahara Ave Las Vegas, NV	1.0–2.0	1.0–2.0	867	$1,475	$1.70	44d	15	0.57mi
3221 Jericho St Unit D Las Vegas, NV	2.0	2.0	922	$1,700	$1.84	44d	1	0.57mi
3221 Jericho St Unit C Las Vegas, NV	2.0	2.0	922	$1,175	$1.27	44d	1	0.57mi
3240 Cameron St Unit A Las Vegas, NV	2.0	2.0	922	$1,300	$1.41	44d	1	0.60mi
3355 Arville St Las Vegas, NV	1.0–2.0	1.0	700	$1,642	$2.35	44d	11	0.69mi
2683 S Decatur Blvd Las Vegas, NV	1.0–2.0	1.0–2.0	785	$1,450	$1.85	44d	16	0.69mi
2301 S Valley View Blvd Las Vegas, NV	1.0	1.0	624	$1,504	$2.41	44d	6	0.78mi
3481 Myrtle Ave Las Vegas, NV	2.0	1.0	864	$1,700	$1.97	44d	1	0.89mi
5100 Obannon Dr Las Vegas, NV	2.0	1.0–2.0	845	$1,338	$1.58	44d	5	0.96mi
3475 W Desert Inn Rd Las Vegas, NV	1.0–3.0	1.0–2.0	1105	$2,550	$2.31	4d	100	0.97mi
5101 Obannon Dr Las Vegas, NV	2.0	2.0	935	$1,470	$1.57	44d	6	0.97mi
5001 El Parque Ave Las Vegas, NV	2.0	2.0	920	$1,394	$1.52	44d	9	0.99mi
5061 Pioneer Ave #202 Las Vegas, NV	2.0	2.0	1105	$1,590	$1.44	44d	1	1.01mi
3463 Procyon St Las Vegas, NV	3.0	1.0–2.0	1043	$2,281	$2.19	2d	29	1.02mi
3335 Hauck St Las Vegas, NV	1.0–2.0	1.0–2.0	867	$1,450	$1.67	44d	10	1.05mi
1600 S Valley View Blvd Las Vegas, NV	1.0–2.0	1.0	620	$1,583	$2.55	44d	21	1.08mi
1800 Edmond St Las Vegas, NV	2.0	2.0	926	$1,425	$1.54	44d	2	1.09mi
3649 Van Dyke Ave Las Vegas, NV	2.0	2.0	922	$1,200	$1.30	44d	1	1.11mi
4650 W Oakey Blvd Las Vegas, NV	1.0–2.0	1.0–2.0	900	$1,350	$1.50	44d	1	1.12mi
3639 Kolendo Ct Unit A Las Vegas, NV	2.0	2.0	912	$999	$1.10	44d	1	1.12mi
4080 W Twain Ave Las Vegas, NV	1.0–3.0	1.0–2.0	858	$1,750	$2.04	44d	8	1.13mi
5353 W Desert Inn Rd Las Vegas, NV	1.0–3.0	1.0–2.0	995	$1,748	$1.76	44d	18	1.15mi
3625 S Decatur Blvd Las Vegas, NV	1.0–3.0	1.0–2.0	957	$1,699	$1.77	2d	28	1.16mi
3800 S Decatur Blvd Las Vegas, NV	3.0	2.0	960	$1,900	$1.98	44d	1	1.32mi
5409 Mountain View Dr Las Vegas, NV	3.0	2.0	1115	$1,935	$1.74	44d	1	1.41mi

HOA detail condo

• Monthly dues: $240 · $2,880/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-05-08
   status Pending 613-char remark

   Show marketing remark (613 chars)

   MOTIVATED SELLER - PRICED TO SELL!!! DON'T MISS THE OPPORTUNITY * * Convenient central SW location near Chinatown, just minutes from the Strip. Perfect downstairs condo, newly renovated—ideal for investment or owner-occupancy. This 2-bedroom, 1-bath unit features wood-like flooring throughout, stylish two-tone custom paint, a modern kitchen with newly installed quartz countertops and stainless steel appliances next to a formal dining room. The front spacious living room is great for gathering and entertaining. Beautiful bathroom with tub and shower, plus a large laundry room offering ample storage.

2. 2026-05-04
   price $129,000 613-char remark

   Show marketing remark (613 chars)

   MOTIVATED SELLER - PRICED TO SELL!!! DON'T MISS THE OPPORTUNITY * * Convenient central SW location near Chinatown, just minutes from the Strip. Perfect downstairs condo, newly renovated—ideal for investment or owner-occupancy. This 2-bedroom, 1-bath unit features wood-like flooring throughout, stylish two-tone custom paint, a modern kitchen with newly installed quartz countertops and stainless steel appliances next to a formal dining room. The front spacious living room is great for gathering and entertaining. Beautiful bathroom with tub and shower, plus a large laundry room offering ample storage.

3. 2026-03-16
   listed $149,000 Active 613-char remark

   Show marketing remark (613 chars)

   MOTIVATED SELLER - PRICED TO SELL!!! DON'T MISS THE OPPORTUNITY * * Convenient central SW location near Chinatown, just minutes from the Strip. Perfect downstairs condo, newly renovated—ideal for investment or owner-occupancy. This 2-bedroom, 1-bath unit features wood-like flooring throughout, stylish two-tone custom paint, a modern kitchen with newly installed quartz countertops and stainless steel appliances next to a formal dining room. The front spacious living room is great for gathering and entertaining. Beautiful bathroom with tub and shower, plus a large laundry room offering ample storage.

4. 2026-03-04
   historical
5. 2026-01-14
   price $172,800
6. 2025-09-23
   price $173,900
7. 2025-08-14
   listed $178,900 Active
8. 2025-08-11
   historical
9. 2025-07-14
   listed $183,900 Active
10. 2025-06-25
    historical
11. 2025-01-08
    listed $179,000 Active
12. 2024-11-30
    historical
13. 2024-05-17
    listed $189,000 Active
14. 2024-04-17
    historical
15. 2023-12-14
    listed $193,000 Active
16. 2023-12-13
    historical
17. 2023-08-15
    listed $198,000 Active
18. 2022-05-10
    soldstatus $168,000 Closed
19. 2022-05-10
    soldstatus $168,000
20. 2022-04-22
    status Pending
21. 2022-04-18
    listed $165,000 Active
22. 2018-09-19
    soldstatus $78,550 Sold
23. 2018-09-19
    soldstatus $78,550
24. 2018-09-18
    status Pending
25. 2018-09-18
    status Active
26. 2018-09-01
    status Pending
27. 2018-08-28
    listed $74,900 Active
28. 2012-10-15
    soldstatus $36,000
29. 2005-01-03
    soldstatus $2,205,100
30. 1988-06-09
    soldstatus $925,000
31. 1984-11-20
    soldstatus $55,000

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $761 · $63/mo
• Expected delta: +$268/yr (+$22/mo · 54.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 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: $17,999
• − Mortgage interest: −$7,226
• − Property taxes: −$493
• − Insurance: −$645
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − HOA: −$2,880
• − Depreciation: −$3,753
• Taxable income: $123
• Est. tax owed @ 24.0%: −$29
• After-tax cash flow: $2,054/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 — Las Vegas

• Score: 80/100
• State rank: #2
• US rank: #1723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Vegas, NV
• County: Clark County · 2,306,105 people
• City population: 1,643,591
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 36,825
• Household income: $49,843
• Rent vs Own: 70.2% rent · 29.8% own
• Severe rent burden: 3577.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 48% White 24% Two or more races 21% Black 11% Asian 9% Native American 3%
• Hispanic origin (detail): Mexican 34% Cuban 3%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 31% · Canada, China, Vietnam
• Languages at home: 53% English-only · Spanish 36% Tagalog/Filipino 3% Chinese 2%

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: ▼ -244.81%
• Current HPI: 260.2725
• Rent YoY: ▼ -2.10%
• 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

+134.5% since first listed

31 events — show timeline

• 2026-05-08 Pending — GLVAR
• 2026-05-04 Price Changed $129,000 GLVAR
• 2026-03-16 Listed $149,000 GLVAR
• 2026-03-04 Listing Removed — GLVAR
• 2026-01-14 Price Changed $172,800 GLVAR
• 2025-09-23 Price Changed $173,900 GLVAR
• 2025-08-14 Listed $178,900 GLVAR
• 2025-08-11 Listing Removed — GLVAR
• 2025-07-14 Listed $183,900 GLVAR
• 2025-06-25 Listing Removed — GLVAR
• 2025-01-08 Listed $179,000 GLVAR
• 2024-11-30 Listing Removed — GLVAR
• 2024-05-17 Listed $189,000 GLVAR
• 2024-04-17 Listing Removed — GLVAR
• 2023-12-14 Listed $193,000 GLVAR
• 2023-12-13 Listing Removed — GLVAR
• 2023-08-15 Listed $198,000 GLVAR
• 2022-05-10 Sold (Public Records) $168,000 Public Records
• 2022-05-10 Sold (MLS) $168,000 GLVAR
• 2022-04-22 Pending — GLVAR
• 2022-04-18 Listed $165,000 GLVAR
• 2018-09-19 Sold (Public Records) $78,550 Public Records
• 2018-09-19 Sold (MLS) $78,550 GLVAR
• 2018-09-18 Pending — GLVAR
• 2018-09-18 Relisted — GLVAR
• 2018-09-01 Pending — GLVAR
• 2018-08-28 Listed $74,900 GLVAR
• 2012-10-15 Sold (Public Records) $36,000 Public Records
• 2005-01-03 Sold (Public Records) $2,205,100 Public Records
• 1988-06-09 Sold (Public Records) $925,000 Public Records
• 1984-11-20 Sold (Public Records) $55,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $493 · +7.4% YoY. Source: county tax records.