555 E Patriot Blvd Unit M266 · Reno, NV 89511

$220,000

1 bd · 1.0 ba · 665 sqft · Condo · 109 Days on market

Built 1986 Good condition $331/sqft · 12% below area Est $250k · 12% under $445/mo HOA · 28% of rent ↓ 12% since listing

---

Why this score? — see what drove the F 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).

• ARV discount +12.8/15.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Cash flow +2.9/30.0
• 1% rule +2.2/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained condo located at 555 E Patriot Blvd. This unit offers an open layout with abundant natural light and a private balcony perfect for relaxing. The kitchen provides ample cabinetry and counter space and opens to the main living area for easy entertaining. Spacious bedrooms and functional storage make the home comfortable and practical. Residents enjoy community amenities including a pool, spa, fitness center, and clubhouse. Conveniently located near shopping, dining, parks, and easy freeway access.

Key facts

• Fitness center
• Ample cabinetry
• Private balcony

Tags

• PRIVATE BALCONY
• AMPLE CABINETRY
• COMMUNITY AMENITIES
• POOL
• SPA
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-721 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (47.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (28.4% below list).
• Recommended offer: $116k (47.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 78/100 on livability (#4 in NV, #2,370 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime F.
• Washoe County School District (urban): math 30% / reading 44% proficiency, ranked #6 of 17 in NV (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Donner Springs Elementary (math 28% / reading 33%, grade F, #184 of 402 statewide, top 46%, 448 students, 100% FRL); Edward L. Pine Middle School (math 19% / reading 35%, grade F, #55 of 109 statewide, top 54%, 835 students, 100% FRL); Damonte Ranch High School (math 35% / reading 59%, grade D-, #31 of 131 statewide, top 23%, 1,910 students, 30% FRL) — zoned schools average 77% FRL vs 42% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 209 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).
• This rent is only 15% of the median local income ($124k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Washoe County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $115,717 (47.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.72% ✗
• Cap rate: 2.36%
• Cash-on-cash: -14.04%
• DSCR: 0.38
• GRM: 11.6

CMA / ARV

• ARV (median comp): $249,644
• List price: $220,000
• Delta: -11.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
555 E Patriot Blvd #195	0.00mi	1/1.0	665 (0%)	3mo	$200,000	$301	98
530 E Patriot Blvd Apt 124	0.04mi	1/1.0	665 (0%)	2mo	$228,800	$344	97
555 E Patriot Blvd #207	0.00mi	1/1.0	665 (0%)	9mo	$202,000	$304	93
7680 Bluestone Dr Apt 401	0.16mi	1/1.0	665 (0%)	0mo	$205,500	$309	92
7680 Bluestone Dr #330	0.16mi	1/1.0	665 (0%)	1mo	$199,000	$299	92
555 E Patriot Blvd #262	0.00mi	1/1.0	665 (0%)	10mo	$207,000	$311	92
555 E E Patriot Blvd	0.07mi	1/1.0	665 (0%)	7mo	$210,000	$316	91
7680 Bluestone Dr #411	0.16mi	1/1.0	665 (0%)	2mo	$190,000	$286	91
555 E Patriot Blvd #260	0.00mi	1/1.0	665 (0%)	12mo	$187,000	$281	90
530 E Patriot Blvd #128	0.05mi	1/1.0	665 (0%)	10mo	$189,900	$286	89
7680 Bluestone Dr	0.20mi	1/1.0	665 (0%)	3mo	$208,000	$313	88
8600 Dixon Ln	0.33mi	1/1.0	688 (+4%)	6mo	$240,000	$349	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.93% rent growth · sell at horizon

5-year hold

• IRR: -38.1%
• Equity multiple: -0.24×
• Total profit: $-76,472
• Equity at exit: $32,803

10-year hold

• IRR: -33.2%
• Equity multiple: -0.68×
• Total profit: $-103,651
• Equity at exit: $19,022

Cash invested: $61,600 (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 →

Active competition Active MLS

• For sale now: 0 active · 2 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 89511

• Rents YoY: 5.9%
• Active inventory: 209
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,576 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$445
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-721

Break-even live

Break-even rent $2,488

Max offer price $115,717

Occupancy floor —

Sensitivity live

Price	-10% $-569	-5% $-645	+0% $-721	+5% $-797	+10% $-873
Rent	-10% $-845	-5% $-783	+0% $-721	+5% $-658	+10% $-596
Rate	-1.0pp $-610	-0.5pp $-665	base $-721	+0.5pp $-778	+1.0pp $-836

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: $55,000
• Closing costs: $6,600
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
530 E Patriot Blvd Reno, NV	1.0–2.0	1.0	750	$1,450	$1.93	63d	2	0.08mi
690 E Patriot Blvd Reno, NV	1.0–3.0	1.0–2.0	972	$1,444	$1.48	63d	18	0.15mi
8455 Offenhauser Dr Reno, NV	1.0–3.0	1.0–2.0	966	$1,510	$1.56	63d	8	0.26mi
8000 Offenhauser Dr Reno, NV	1.0–3.0	1.0–2.0	976	$1,488	$1.52	63d	11	0.27mi
825 E Patriot Blvd Reno, NV	2.0	1.0–2.0	954	$2,008	$2.10	63d	19	0.29mi
5599 Quail Manor Ct Reno, NV	1.0–3.0	1.0–2.0	990	$1,695	$1.71	93d	1	0.85mi
9200 Double R Blvd Reno, NV	2.0	1.0–2.0	787	$1,991	$2.53	63d	34	0.98mi
825 Delucchi Ln Reno, NV	1.0–2.0	1.0	754	$1,499	$1.99	63d	8	1.18mi
1001 S Meadows Pkwy Reno, NV	1.0–3.0	1.0–2.0	1019	$2,060	$2.02	63d	17	1.41mi

HOA detail $445/mo · $5,340/yr condo

• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-30
   days on market $220,000 Active 109 DOM
2. 2026-06-29
   days on market $220,000 Active 108 DOM
3. 2026-06-28
   days on market $220,000 Active 107 DOM
4. 2026-06-28
   days on market $220,000 Active 106 DOM
5. 2026-06-27
   days on market $220,000 Active 105 DOM
6. 2026-06-25
   days on market $220,000 Active 103 DOM
7. 2026-06-23
   days on market $220,000 Active 101 DOM
8. 2026-06-22
   days on market $220,000 Active 100 DOM
9. 2026-06-18
   days on market $220,000 Active 97 DOM
10. 2026-06-17
    days on market $220,000 Active 96 DOM
11. 2026-06-16
    days on market $220,000 Active 95 DOM
12. 2026-06-15
    days on market $220,000 Active 94 DOM
13. 2026-06-14
    days on market $220,000 Active 92 DOM
14. 2026-06-10
    days on market $220,000 Active 89 DOM
15. 2026-06-09
    days on market $220,000 Active 88 DOM
16. 2026-06-08
    days on market $220,000 Active 87 DOM
17. 2026-06-07
    days on market $220,000 Active 86 DOM
18. 2026-06-05
    days on market $220,000 Active 83 DOM
19. 2026-06-03
    days on market $220,000 Active 82 DOM
20. 2026-06-02
    days on market $220,000 Active 81 DOM
21. 2026-06-01
    days on market $220,000 Active 80 DOM
22. 2026-05-31
    days on market $220,000 Active 79 DOM
23. 2026-05-30
    days on market $220,000 Active 78 DOM
24. 2026-05-18
    price $220,000 532-char remark

    Show marketing remark (532 chars)

    Welcome to this well-maintained condo located at 555 E Patriot Blvd. This unit offers an open layout with abundant natural light and a private balcony perfect for relaxing. The kitchen provides ample cabinetry and counter space and opens to the main living area for easy entertaining. Spacious bedrooms and functional storage make the home comfortable and practical. Residents enjoy community amenities including a pool, spa, fitness center, and clubhouse. Conveniently located near shopping, dining, parks, and easy freeway access.

25. 2026-03-31
    price $247,500 532-char remark

    Show marketing remark (532 chars)

    Welcome to this well-maintained condo located at 555 E Patriot Blvd. This unit offers an open layout with abundant natural light and a private balcony perfect for relaxing. The kitchen provides ample cabinetry and counter space and opens to the main living area for easy entertaining. Spacious bedrooms and functional storage make the home comfortable and practical. Residents enjoy community amenities including a pool, spa, fitness center, and clubhouse. Conveniently located near shopping, dining, parks, and easy freeway access.

26. 2026-03-13
    listed $250,000 Active 532-char remark

    Show marketing remark (532 chars)

    Welcome to this well-maintained condo located at 555 E Patriot Blvd. This unit offers an open layout with abundant natural light and a private balcony perfect for relaxing. The kitchen provides ample cabinetry and counter space and opens to the main living area for easy entertaining. Spacious bedrooms and functional storage make the home comfortable and practical. Residents enjoy community amenities including a pool, spa, fitness center, and clubhouse. Conveniently located near shopping, dining, parks, and easy freeway access.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 15 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,907
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − HOA: −$5,340
• − Depreciation: −$6,400
• Taxable loss: −$12,582
• Est. tax savings @ 24.0%: +$3,020
• After-tax cash flow: $-5,629/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $3,325–$9,975 screening

This well-maintained and move-in-ready condo offers an open layout with ample natural light and a private balcony. It is located in a desirable community with various amenities and convenient access to shopping, dining, and parks.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Deep clean carpets — Clean carpets can improve the overall appearance and comfort of the living space. ↑
• Resale Update kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Install smart home devices — Smart home devices can increase convenience and appeal to tech-savvy buyers and renters. ↑
• Both Add outdoor lighting — Outdoor lighting can enhance safety and curb appeal, making the property more attractive to potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 35/100

Zoned Schools

Elementary Donner Springs Elementary F NV #184/402 Nat'l #26,279/41,679 Middle Edward L. Pine Middle School F NV #55/109 Nat'l #9,793/14,009 High Damonte Ranch High School D- NV #31/131 Nat'l #6,330/17,239

Schools (NCES district)

• District: Washoe County School District
• NCES district ID: 3200480
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,025
• Composite: 32.44/100
• National rank: #5721
• State rank: #6 of 17 in NV

B Composite livability gradescore 78/100

Livability — Reno

• Score: 78/100
• State rank: #4
• US rank: #2370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reno, NV
• County: Washoe County · 499,260 people
• City population: 325,068
• Metro: Reno, NV
• Population (ZIP): 30,956
• Household income: $124,130
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 10% of renters

---

Population outlook (Washoe County) Hauer SSP2

• Today (2025): 499,260 people
• By 2030: 523,429 · +4.8%
• By 2040: 564,420 · +13.1%
• By 2050: 595,548 · +19.3%
• By 2075: 652,375 · +30.7%
• By 2100: 661,518 · +32.5%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Two or more races 10% Asian 8% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

---

Political lean MEDSL · Washoe

• 2024 margin: Toss-up / Even · D 49.3% · R 48.3% · Other 2.4%
• 2008→2024 swing: -11.7pp toward R · 2008: 12.7pp · 2024: 1.0pp
• All cycles: 2024: D+1.0 2020: D+4.5 2016: D+1.2 2012: D+3.6 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.22%
• Current HPI: 329.1409
• Rent YoY: ▲ 5.93%
• Metro: Reno, 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

-12.0% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $220,000 NNRMLS
• 2026-03-31 Price Changed $247,500 NNRMLS
• 2026-03-13 Listed $250,000 NNRMLS