305 Parkland Way · Fernley, NV 89408

$195,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 188 Days on market

Built 1981 6,098 sqft lot $135/sqft · 31% below area Est $283k · 31% under

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Why this score? — see what drove the B- 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.3/10.0
• Rent growth +4.1/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

Key facts

• Covered patio
• 6,098 sq ft lot
• 2 parking spots

Tags

• LAUNDRY ROOM WITH SINK
• BUILT IN IRONING BOARD
• COVERED PATIO
• STORAGE WORKSHOP AREAS
• FULLY FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.4% in Fernley — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#31 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B; Watch: crime C-, schools D, amenities F.
• Lyon County School District (town): math 21% / reading 35% proficiency, ranked #14 of 17 in NV (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.4%/yr); 128 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 297 units permitted in Lyon County in 2024 (80 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lyon County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $43k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $195k implies a 625% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.32%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (median comp): $283,249
• List price: $195,000
• Delta: -31.16%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Parkland Way	0.09mi	3/2.0	1,525 (+6%)	16mo	$280,000	$184	73
1025 Villa Way	0.12mi	3/2.0	1,288 (-11%)	5mo	$259,900	$202	73
905 Villa Way	0.21mi	3/2.0	1,493 (+4%)	18mo	$285,000	$191	69
280 Parkland Way	0.03mi	3/2.0	1,632 (+13%)	22mo	$300,000	$184	58
250 Parkland Way	0.07mi	3/2.0	1,248 (-13%)	23mo	$269,900	$216	55

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 · 6.43% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,496
• Equity at exit: $29,075

10-year hold

• IRR: 13.7%
• Equity multiple: 2.25×
• Total profit: $68,176
• Equity at exit: $16,860

Cash invested: $54,600 (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 →

ZIP-level market 89408

• Rents YoY: 6.4%
• Active inventory: 128
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,008 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$58 /mo · $697/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $424

Break-even live

Break-even rent $1,471

Max offer price $195,000

Occupancy floor 74%

Sensitivity live

Price	-10% $534	-5% $479	+0% $424	+5% $369	+10% $314
Rent	-10% $265	-5% $345	+0% $424	+5% $503	+10% $583
Rate	-1.0pp $522	-0.5pp $474	base $424	+0.5pp $374	+1.0pp $322

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
162 Prairie Ln Fernley, NV	3.0	2.0	1241	$2,250	$1.81	44d	1	0.43mi
306 Wildrose Ct Fernley, NV	3.0	2.0	1576	$1,800	$1.14	22d	1	0.46mi
645 Silverlace Blvd Fernley, NV	1.0–3.0	1.0–2.0	887	$1,482	$1.67	44d	1	0.65mi
665 Starlite Dr Unit A Fernley, NV	2.0	1.5	1150	$1,550	$1.35	14d	1	1.18mi

Listing history 34 events

1. 2026-06-18
   days on market $195,000 Active 188 DOM
2. 2026-06-17
   days on market $195,000 Active 187 DOM
3. 2026-06-16
   days on market $195,000 Active 186 DOM
4. 2026-06-15
   days on market $195,000 Active 185 DOM
5. 2026-06-14
   days on market $195,000 Active 183 DOM
6. 2026-06-13
   pricedays on market $195,000 Active 182 DOM
7. 2026-06-10
   days on market $212,000 Active 180 DOM
8. 2026-06-09
   days on market $212,000 Active 179 DOM
9. 2026-06-08
   days on market $212,000 Active 178 DOM
10. 2026-06-07
    days on market $212,000 Active 177 DOM
11. 2026-06-03
    days on market $212,000 Active 173 DOM
12. 2026-06-02
    days on market $212,000 Active 172 DOM
13. 2026-06-01
    days on market $212,000 Active 171 DOM
14. 2026-05-31
    days on market $212,000 Active 170 DOM
15. 2026-05-30
    days on market $212,000 Active 169 DOM
16. 2026-05-13
    price $212,000 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

17. 2026-04-29
    price $219,000 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

18. 2026-04-14
    price $228,000 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

19. 2026-04-08
    status Active 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

20. 2026-04-05
    historical Active Under Contract-Show 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

21. 2026-03-31
    price $234,250 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

22. 2026-03-31
    status Active 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

23. 2026-01-30
    historical Active Under Contract-Show 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

24. 2025-12-12
    listed $238,000 Active 564-char remark

    Show marketing remark (564 chars)

    THIS IS A MUST SEE AT THIS PRICE!!!!! Call your favorite Realtor to review the Home Inspection and Appraisal on this 1,440± square foot manufactured home that has been converted to real property. The home was constructed in 1981 and consists of 3 bedrooms and 2 bathrooms, laundry room with sink and built in ironing board! There is a covered patio with storage/workshop areas, and the back yard is fully fenced. This property is part of an estate and subject to court approval. Your favorite Realtor has access to the documents so make an appointment soon!

25. 2011-12-09
    soldstatus $26,900 862-char remark

    Show marketing remark (862 chars)

    Calling investors or first time home buyers! Centrally located in town near amenities, main access roads, schools, and the park. Separate living with a kitchen/dining combo. Backyard access from dining area makes this ideal for outdoor entertaining, or relaxing after a long day. Kitchen offers a breakfast bar, pantry and laundry room complete with sink. Two storage sheds offer more than enough room to store whatever! Buyer and Selling Agent to verify ALL information!, Supra lockbox on vacant property. Do not call; just go show! Property must be listed on www. HomePath.com for 3 days before Seller will review offers. Owner Occupant offers require signatures on the certification form found in the docs tab. This must be submitted with the offer for consideration! Property must be listed on HomePath 31 days before Seller will consider Investor offers.

26. 2011-11-10
    historical 862-char remark

    Show marketing remark (862 chars)

    Calling investors or first time home buyers! Centrally located in town near amenities, main access roads, schools, and the park. Separate living with a kitchen/dining combo. Backyard access from dining area makes this ideal for outdoor entertaining, or relaxing after a long day. Kitchen offers a breakfast bar, pantry and laundry room complete with sink. Two storage sheds offer more than enough room to store whatever! Buyer and Selling Agent to verify ALL information!, Supra lockbox on vacant property. Do not call; just go show! Property must be listed on www. HomePath.com for 3 days before Seller will review offers. Owner Occupant offers require signatures on the certification form found in the docs tab. This must be submitted with the offer for consideration! Property must be listed on HomePath 31 days before Seller will consider Investor offers.

27. 2011-09-09
    listed $27,200 862-char remark

    Show marketing remark (862 chars)

    Calling investors or first time home buyers! Centrally located in town near amenities, main access roads, schools, and the park. Separate living with a kitchen/dining combo. Backyard access from dining area makes this ideal for outdoor entertaining, or relaxing after a long day. Kitchen offers a breakfast bar, pantry and laundry room complete with sink. Two storage sheds offer more than enough room to store whatever! Buyer and Selling Agent to verify ALL information!, Supra lockbox on vacant property. Do not call; just go show! Property must be listed on www. HomePath.com for 3 days before Seller will review offers. Owner Occupant offers require signatures on the certification form found in the docs tab. This must be submitted with the offer for consideration! Property must be listed on HomePath 31 days before Seller will consider Investor offers.

28. 2006-02-01
    historical
29. 2005-04-11
    listed $123,500
30. 2002-03-29
    historical
31. 2002-03-28
    soldstatus $81,500
32. 2001-10-14
    listed $88,500
33. 2001-10-13
    historical
34. 2001-06-11
    listed $94,500

ⓘ 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: $697 · $58/mo
• Projected year-2 tax: $1,150 · $96/mo
• Expected delta: +$453/yr (+$38/mo · 65.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,092
• − Mortgage interest: −$10,923
• − Property taxes: −$697
• − Insurance: −$975
• − Repairs & maintenance: −$1,927
• − Management: −$1,927
• − Depreciation: −$5,673
• Taxable income: $1,969
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $4,617/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: Lyon County School District
• NCES district ID: 3200300
• Math proficiency: 21% ▼ -11.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $48,197
• Composite: 24.32/100
• National rank: #7707
• State rank: #14 of 17 in NV

Livability — Fernley

• Score: 68/100
• State rank: #31
• US rank: #9434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fernley, NV
• County: Lyon County · 24,564 people
• City population: 24,564
• Metro: Fernley, NV
• Population (ZIP): 24,564
• Household income: $89,552
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 474.0

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 51,655 people
• By 2030: 50,194 · -2.8%
• By 2040: 46,155 · -10.6%
• By 2050: 41,580 · -19.5%
• By 2075: 32,687 · -36.7%
• By 2100: 24,111 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 19% Two or more races 13% Asian 2% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 6% Serbian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 86% English-only · Spanish 12% Other Indo-European 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+44.4) · D 26.7% · R 71.1% · Other 2.2%
• 2008→2024 swing: -26.5pp toward R · 2008: -17.9pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+41.1 2016: R+41.5 2012: R+28.6 2008: R+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.96%
• Current HPI: 220.9943
• Rent YoY: ▲ 6.43%
• Metro: Fernley, 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

+124.3% since first listed

19 events — show timeline

• 2026-05-13 Price Changed $212,000 NNRMLS
• 2026-04-29 Price Changed $219,000 NNRMLS
• 2026-04-14 Price Changed $228,000 NNRMLS
• 2026-04-08 Relisted — NNRMLS
• 2026-04-05 Contingent — NNRMLS
• 2026-03-31 Price Changed $234,250 NNRMLS
• 2026-03-31 Relisted — NNRMLS
• 2026-01-30 Contingent — NNRMLS
• 2025-12-12 Listed $238,000 NNRMLS
• 2011-12-09 Sold (MLS) $26,900 NNRMLS
• 2011-11-10 Listing Removed — NNRMLS
• 2011-09-09 Listed $27,200 NNRMLS
• 2006-02-01 Listing Removed — NNRMLS
• 2005-04-11 Listed $123,500 NNRMLS
• 2002-03-29 Listing Removed — NNRMLS
• 2002-03-28 Sold (MLS) $81,500 NNRMLS
• 2001-10-14 Listed $88,500 NNRMLS
• 2001-10-13 Listing Removed — NNRMLS
• 2001-06-11 Listed $94,500 NNRMLS

Property tax history

-0.8%/yr

Latest (2025): $697 · -33.9% YoY. Source: county tax records.