376 Valley Bend Dr

Spring Creek, NV 89815

$315,000D-

2 bd · 2.0 ba · 1,488 sqft · Built 1978 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,900/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$220
• HOA: −$86
• Vac / Maint / Mgmt: −$399
• Net cashflow: $-457/mo
• Annual: $-5,484/yr
• Cap rate: 4.55%
• Cash-on-cash: -6.22%
• DSCR: 0.72
• 1% rule: 0.60%
• Cash to close: $88,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $315k.
• At list price, monthly cash flow is $-457 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (25.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (39.7% below list).
• It's been on market 86 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (39.7% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($2k loan paydown + $344 appreciation (0.1% local appreciation)).
• Location reads 68/100 on livability (#32 in NV) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Elko County School District (town): math 22% / reading 38% proficiency, ranked #9 of 17 in NV (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spring Creek Elementary School (math 37% / reading 42%, grade F, #116 of 402 statewide, top 31%, 421 students, 16% FRL); Spring Creek Middle School (math 15% / reading 43%, grade F, #52 of 109 statewide, top 47%, 734 students, 20% FRL); Spring Creek High School (math 32% / reading 47%, grade F, #43 of 131 statewide, top 33%, 909 students, 16% FRL).
• Market conditions: 127 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 120 units permitted in Elko County in 2024 (0 in 5+ unit buildings).
• Elko County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y 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.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.