5861 Medallion Dr #202

Whitney, NV 89122

$153,000D

2 bd · 1.0 ba · 806 sqft · Built 1987 · Condo · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,497/mo
• Mortgage (P&I): −$802
• Tax + insurance: −$96
• HOA: −$271
• Vac / Maint / Mgmt: −$314
• Net cashflow: $13/mo
• Annual: $162/yr
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• 1% rule: 0.98%
• Cash to close: $42,840

Investor read

• This is a 2-bed/1.0-bath condo listed at $153k.
• At list price, monthly cash flow is $13 ($162/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (2.2% below list).
• It's been on market 128 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#56 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment D+, crime D-, amenities 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.
• Zoned schools: Whitney Es (math 12% / reading 22%, grade F, #311 of 402 statewide, top 82%, 396 students, 100% FRL); Cortney Francis H Jhs (math 7% / reading 19%, grade F, #101 of 109 statewide, top 93%, 1,085 students, 100% FRL); Chaparral Hs (math 3% / reading 15%, grade F, #128 of 131 statewide, top 98%, 2,256 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 30% district-wide (-17 pts) — the specific schools serving this property underperform the Clark County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.6%/yr); 331 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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?
• 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?
• 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?