1830 Dwarf Star Dr · Sunrise Manor, NV 89115

$610,000

8 bd · 4.0 ba · 3,212 sqft · MultiFamily public records · 17 Days on market

Built 1987 9,148 sqft lot

---

Why this score? — see what drove the D 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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +2.9/10.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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

Great Investment Property. Very well maintained fourplex. Lake Mead Villas, a secure, planned community with mature landscaping, playground and pool. Built in 1988 with a Cape Cod design, all units are 2 bedroom 1 bath with an open floor plan, tile and vinyl floors, separate laundry in each unit. Super clean Condo Complex located close to schools, shopping with tree lined streets for maximum curb appeal. HOA includes sewer, trash, community landscaping, exterior of building and roof repair. Please make the Make offer subject to inspection. Do not disturb tenants

Key facts

• Open floor plan
• Separate laundry
• Pool

Tags

• WELL MAINTAINED
• MATURE LANDSCAPING
• PLAYGROUND
• POOL
• OPEN FLOOR PLAN
• SEPARATE LAUNDRY

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $610k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive. Per door: $49/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 $484k (20.7% below list).
• Recommended offer: $484k (20.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#83 in NV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, 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 (-0.4%/yr); 168 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $4,839/mo this rent would consume 112% of the median local household income ($52k/yr) (locally 4430% 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 $4k of loan paydown is wiped out by about $18k 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 17 days — a 2% lower offer ($601k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $335k; list at $610k implies a 82% gain — meaningful room to come down on a strong offer.

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 $483,900 (20.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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?
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: 0.79% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• GRM: 10.5

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: -17.1%
• Equity multiple: 0.41×
• Total profit: $-100,839
• Equity at exit: $90,953

10-year hold

• IRR: -14.9%
• Equity multiple: 0.25×
• Total profit: $-127,721
• Equity at exit: $52,742

Cash invested: $170,800 (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 89115

• Home prices YoY: -13.8%
• Rents YoY: -0.4%
• Active inventory: 168
• Price-to-rent: 42.0×

Monthly cashflow live

• Estimated rent: $4,839 high
• Mortgage (P&I): −$3,199
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$254
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,016
• Net cashflow: $196

Break-even live

Break-even rent $4,591

Max offer price $610,000

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,840
Total (4 units)			$4,839

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: $152,500
• Closing costs: $18,300
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $610,000 Active 17 DOM
2. 2026-06-17
   days on market $610,000 Active 16 DOM
3. 2026-06-16
   days on market $610,000 Active 15 DOM
4. 2026-06-15
   days on market $610,000 Active 14 DOM
5. 2026-06-13
   days on market $610,000 Active 12 DOM
6. 2026-06-09
   days on market $610,000 Active 8 DOM
7. 2026-06-08
   days on market $610,000 Active 7 DOM
8. 2026-06-07
   days on market $610,000 Active 6 DOM
9. 2026-06-03
   days on market $610,000 Active 2 DOM
10. 2026-06-02
    pricedays on marketlisting id $610,000 Active 1 DOM
11. 2026-06-01
    days on market $614,500 Active 105 DOM
12. 2026-05-31
    days on market $614,500 Active 104 DOM
13. 2026-03-14
    price $614,500 573-char remark

    Show marketing remark (573 chars)

    Great Investment Property. Very well maintained fourplex. Lake Mead Villas, a secure, planned community with mature landscaping, playground and pool. Built in 1988 with a Cape Cod design, all units are 2 bedroom 1 bath with an open floor plan, tile and vinyl floors, separate laundry in each unit. Super clean Condo Complex located close to schools, shopping with tree lined streets for maximum curb appeal. HOA includes sewer, trash, community landscaping, exterior of building and roof repair. Please make the Make offer subject to inspection. Do not disturb tenants

14. 2026-02-16
    listed $619,000 Active 573-char remark

    Show marketing remark (573 chars)

    Great Investment Property. Very well maintained fourplex. Lake Mead Villas, a secure, planned community with mature landscaping, playground and pool. Built in 1988 with a Cape Cod design, all units are 2 bedroom 1 bath with an open floor plan, tile and vinyl floors, separate laundry in each unit. Super clean Condo Complex located close to schools, shopping with tree lined streets for maximum curb appeal. HOA includes sewer, trash, community landscaping, exterior of building and roof repair. Please make the Make offer subject to inspection. Do not disturb tenants

15. 2026-02-16
    historical

    Show marketing remark (573 chars)

    Great Investment Property. Very well maintained fourplex. Lake Mead Villas, a secure, planned community with mature landscaping, playground and pool. Built in 1988 with a Cape Cod design, all units are 2 bedroom 1 bath with an open floor plan, tile and vinyl floors, separate laundry in each unit. Super clean Condo Complex located close to schools, shopping with tree lined streets for maximum curb appeal. HOA includes sewer, trash, community landscaping, exterior of building and roof repair. Please make the Make offer subject to inspection. Do not disturb tenants

16. 2026-02-02
    status Active
17. 2026-02-02
    price $619,000
18. 2026-02-02
    historical
19. 2026-01-05
    price $625,000
20. 2025-12-14
    listed $645,000 Active
21. 2020-05-11
    soldstatus $335,000 Closed
22. 2020-05-11
    soldstatus $335,000
23. 2020-03-19
    status Pending
24. 2020-03-18
    listed $335,000 Active
25. 2016-06-23
    soldstatus $190,000 Closed Sale
26. 2016-06-22
    soldstatus $190,000
27. 2016-04-21
    status Pending Sale
28. 2016-04-13
    price $189,000
29. 2016-04-06
    status Active
30. 2016-03-02
    historical
31. 2016-01-18
    listed $195,000 Active
32. 1988-03-25
    soldstatus $175,000
33. 1987-11-13
    soldstatus $165,000

ⓘ 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: $2,086 · $174/mo
• Projected year-2 tax: $3,599 · $300/mo
• Expected delta: +$1,513/yr (+$126/mo · 72.5%)

ⓘ 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 ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,068
• − Mortgage interest: −$34,169
• − Property taxes: −$2,086
• − Insurance: −$3,050
• − Repairs & maintenance: −$4,645
• − Management: −$4,645
• − Depreciation: −$17,745
• Taxable loss: −$8,274
• Est. tax savings @ 24.0%: +$1,986
• After-tax cash flow: $4,336/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 — Sunrise Manor

• Score: 58/100
• State rank: #83
• US rank: #20692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunrise Manor, NV
• County: Clark County · 2,306,105 people
• City population: 102,557
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 67,542
• Household income: $51,681
• Rent vs Own: 64.9% rent · 35.1% own
• Severe rent burden: 4430.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 52% Black 21% Two or more races 18% White 17% Asian 3% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 43% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 22% · Canada
• Languages at home: 53% English-only · Spanish 44% Tagalog/Filipino 1% Other Asian/Pacific 1%

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: ▼ -51.12%
• Current HPI: 318.7946
• Rent YoY: ▼ -0.41%
• 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

+272.4% since first listed

21 events — show timeline

• 2026-03-14 Price Changed $614,500 GLVAR
• 2026-02-16 Listing Removed — GLVAR
• 2026-02-16 Listed $619,000 GLVAR
• 2026-02-02 Relisted — GLVAR
• 2026-02-02 Price Changed $619,000 GLVAR
• 2026-02-02 Listing Removed — GLVAR
• 2026-01-05 Price Changed $625,000 GLVAR
• 2025-12-14 Listed $645,000 GLVAR
• 2020-05-11 Sold (Public Records) $335,000 Public Records
• 2020-05-11 Sold (MLS) $335,000 GLVAR
• 2020-03-19 Pending — GLVAR
• 2020-03-18 Listed $335,000 GLVAR
• 2016-06-23 Sold (MLS) $190,000 CRMLS
• 2016-06-22 Sold (Public Records) $190,000 Public Records
• 2016-04-21 Pending — CRMLS
• 2016-04-13 Price Changed $189,000 CRMLS
• 2016-04-06 Relisted — CRMLS
• 2016-03-02 Listing Removed — CRMLS
• 2016-01-18 Listed $195,000 CRMLS
• 1988-03-25 Sold (Public Records) $175,000 Public Records
• 1987-11-13 Sold (Public Records) $165,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $2,086 · +2.9% YoY. Source: county tax records.