3601 E Wyoming Ave #142

Sunrise Manor, NV 89104

$3,700D

2 bd · 1.0 ba · 768 sqft · Built 2026 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,461/mo
• Mortgage (P&I): −$19
• Tax + insurance: −$6
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $1,129/mo
• Annual: $13,545/yr
• Cap rate: 372.39%
• Cash-on-cash: 1307.47%
• DSCR: 59.18
• 1% rule: 39.49%
• Cash to close: $1,036

Investor read

• This is a 2-bed/1.0-bath single-family listed at $4k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $4k).
• It's been on market 25 days — a 2% lower offer ($4k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $4k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $26 of loan paydown is wiped out by about $111 of value loss. Plan a longer hold.
• 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, crime F, 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: West Prep Es (math 9% / reading 19%, grade F, #359 of 402 statewide, top 90%, 386 students, 100% FRL); Mack Jerome Ms (math 8% / reading 17%, grade F, #102 of 109 statewide, top 94%, 1,069 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 12% at this address vs 30% district-wide (-18 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 rising (+1.2%/yr); 146 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 34% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.