4650 Koval Ln · Paradise, NV 89109

$426,000

9 bd · 3.9 ba · 5,171 sqft · MultiFamily · 1 Days on market

Built 1978 3,920 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.9/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

LOCATION, LOCATION, LOCATION. This Large Four Plex Multi-Family home Located within walking distance from The Strip! Right behind the MGM! Plenty of upside! It has 8 bedrooms and 5 bathrooms. Units Consist of (4) Two Bedroom Units, all units have washer/dryers. Massive units feature big living rooms with gas fireplaces. Kitchen has all appliances, lots of cabinet space. The seller just put new flooring for 3 of the 4 units. Entertain amazingly at the Community pool. This property is not going to last! Come with your best offer!

Key facts

• 3,920 sq ft lot
• Built 1978

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $426k.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $426k).

Location & tenants

• Location reads 76/100 on livability (#10 in NV, #3,494 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-, cost of living B; Watch: employment D+, crime D-.
• 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: Paradise Prof Dev Es (math 12% / reading 22%, grade F, #311 of 402 statewide, top 82%, 476 students, 100% FRL); Orr William E Ms (math 5% / reading 18%, grade F, #103 of 109 statewide, top 95%, 815 students, 100% FRL); Del Sol Academy of Performing Arts Hs (math 10% / reading 33%, grade F, #91 of 131 statewide, top 70%, 2,511 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 17% at this address vs 30% district-wide (-13 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 falling (-3.2%/yr); 351 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $9,846/mo this rent would consume 220% of the median local household income ($54k/yr) (locally 836% 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 (-2.2%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k 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.
• At projected returns (-2.2% appreciation + 0.0% rent growth), your $119k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 21 sale attempts since 16y ago; this cycle's ask is 25718% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $426,000

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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.31% ✓
• Cap rate: 19.91%
• Cash-on-cash: 48.64%
• DSCR: 3.16
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.22% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 43.9%
• Equity multiple: 2.88×
• Total profit: $224,143
• Equity at exit: $78,387

10-year hold

• IRR: 47.6%
• Equity multiple: 5.13×
• Total profit: $493,066
• Equity at exit: $62,888

Cash invested: $119,280 (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 89109

• Home prices YoY: -1.2%
• Rents YoY: -3.2%
• Active inventory: 351
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $9,846 high
• Mortgage (P&I): −$2,234
• Tax est. 1.5%: −$532 /mo · $6,390/yr
• Insurance: −$178
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,068
• Net cashflow: $4,834

Break-even live

Break-even rent $3,727

Max offer price $426,000

Occupancy floor 46%

Sensitivity live

Price	-10% $5,129	-5% $4,982	+0% $4,834	+5% $4,687	+10% $4,540
Rent	-10% $4,057	-5% $4,445	+0% $4,834	+5% $5,223	+10% $5,612
Rate	-1.0pp $5,049	-0.5pp $4,943	base $4,834	+0.5pp $4,724	+1.0pp $4,612

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$9,846
Total (3 units)			$9,846

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: $106,500
• Closing costs: $12,780
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-04-15
   listed $1,650
2. 2026-03-13
   historical $1,650
3. 2026-02-13
   listed $1,650
4. 2026-01-17
   historical $1,650
5. 2025-12-30
   status Pending
6. 2025-12-30
   listed $426,000 Active
7. 2025-12-29
   historical $426,000
8. 2025-11-01
   price $1,650
9. 2025-10-24
   historical $1,500
10. 2025-10-23
    listed $1,500
11. 2025-10-23
    price $1,600
12. 2025-09-16
    historical $1,400
13. 2025-09-07
    listed $1,400
14. 2025-09-02
    historical $1,400
15. 2025-08-28
    listed $1,400
16. 2025-08-23
    historical $1,400
17. 2025-08-22
    listed $1,400
18. 2025-08-16
    historical $1,400
19. 2025-08-11
    listed $1,400
20. 2025-08-06
    historical $1,400
21. 2025-08-01
    listed $1,400
22. 2025-07-31
    listed $1,400
23. 2025-07-25
    historical $1,300
24. 2025-07-25
    historical $1,300
25. 2025-07-24
    listed $1,300
26. 2025-07-24
    listed $1,400
27. 2024-09-15
    historical $1,550
28. 2024-08-18
    price $1,550
29. 2024-08-03
    listed $1,650
30. 2023-03-13
    historical
31. 2022-12-19
    listed $899,999 Active
32. 2022-12-07
    soldstatus $590,000 Closed 533-char remark

    Show marketing remark (533 chars)

    LOCATION, LOCATION, LOCATION. This Large Four Plex Multi-Family home Located within walking distance from The Strip! Right behind the MGM! Plenty of upside! It has 8 bedrooms and 5 bathrooms. Units Consist of (4) Two Bedroom Units, all units have washer/dryers. Massive units feature big living rooms with gas fireplaces. Kitchen has all appliances, lots of cabinet space. The seller just put new flooring for 3 of the 4 units. Entertain amazingly at the Community pool. This property is not going to last! Come with your best offer!

33. 2022-10-19
    status Pending 533-char remark

    Show marketing remark (533 chars)

    LOCATION, LOCATION, LOCATION. This Large Four Plex Multi-Family home Located within walking distance from The Strip! Right behind the MGM! Plenty of upside! It has 8 bedrooms and 5 bathrooms. Units Consist of (4) Two Bedroom Units, all units have washer/dryers. Massive units feature big living rooms with gas fireplaces. Kitchen has all appliances, lots of cabinet space. The seller just put new flooring for 3 of the 4 units. Entertain amazingly at the Community pool. This property is not going to last! Come with your best offer!

34. 2022-09-27
    status Active 533-char remark

    Show marketing remark (533 chars)

    LOCATION, LOCATION, LOCATION. This Large Four Plex Multi-Family home Located within walking distance from The Strip! Right behind the MGM! Plenty of upside! It has 8 bedrooms and 5 bathrooms. Units Consist of (4) Two Bedroom Units, all units have washer/dryers. Massive units feature big living rooms with gas fireplaces. Kitchen has all appliances, lots of cabinet space. The seller just put new flooring for 3 of the 4 units. Entertain amazingly at the Community pool. This property is not going to last! Come with your best offer!

35. 2022-09-19
    historical Active Under Contract 533-char remark

    Show marketing remark (533 chars)

    LOCATION, LOCATION, LOCATION. This Large Four Plex Multi-Family home Located within walking distance from The Strip! Right behind the MGM! Plenty of upside! It has 8 bedrooms and 5 bathrooms. Units Consist of (4) Two Bedroom Units, all units have washer/dryers. Massive units feature big living rooms with gas fireplaces. Kitchen has all appliances, lots of cabinet space. The seller just put new flooring for 3 of the 4 units. Entertain amazingly at the Community pool. This property is not going to last! Come with your best offer!

36. 2022-08-23
    listed $699,000 Active 533-char remark

    Show marketing remark (533 chars)

    LOCATION, LOCATION, LOCATION. This Large Four Plex Multi-Family home Located within walking distance from The Strip! Right behind the MGM! Plenty of upside! It has 8 bedrooms and 5 bathrooms. Units Consist of (4) Two Bedroom Units, all units have washer/dryers. Massive units feature big living rooms with gas fireplaces. Kitchen has all appliances, lots of cabinet space. The seller just put new flooring for 3 of the 4 units. Entertain amazingly at the Community pool. This property is not going to last! Come with your best offer!

37. 2021-11-05
    historical
38. 2021-05-05
    listed $1,200,000 Active
39. 2018-11-01
    status Pending
40. 2018-11-01
    historical
41. 2018-08-31
    historical Contingent Offer
42. 2018-07-14
    status Pending
43. 2018-03-09
    status Contingent Offer
44. 2018-03-09
    historical
45. 2018-03-09
    listed $249,000 Active
46. 2016-09-06
    historical
47. 2016-09-06
    listed $175,000 Active
48. 2011-04-02
    historical
49. 2010-12-17
    status Pending
50. 2010-12-08
    listed $365,000 Exclusive Right

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,152
• − Mortgage interest: −$23,863
• − Property taxes: −$6,390
• − Insurance: −$2,130
• − Repairs & maintenance: −$9,452
• − Management: −$9,452
• − Depreciation: −$12,393
• Taxable income: $54,472
• Est. tax owed @ 24.0%: −$13,073
• After-tax cash flow: $44,939/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 — Paradise

• Score: 76/100
• State rank: #10
• US rank: #3494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise, NV
• County: Clark County · 2,306,105 people
• City population: 227,885
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 6,504
• Household income: $53,684
• Rent vs Own: 65.3% rent · 34.7% own
• Severe rent burden: 836.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 44% Black 18% Hispanic / Latino 16% Asian 14% Two or more races 12%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Lithuanian 3% Scotch-Irish 2% Romanian 2%
• Foreign-born: 23% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 9% Tagalog/Filipino 7% Chinese 2%

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: ▼ -2.22%
• Current HPI: 180.1607
• Rent YoY: ▼ -3.23%
• 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

-99.5% since first listed

50 events — show timeline

• 2026-04-15 Listed for Rent $1,650 RENTALBEAST
• 2026-03-13 Rental Removed $1,650 RENTALBEAST
• 2026-02-13 Listed for Rent $1,650 RENTALBEAST
• 2026-01-17 Rental Removed $1,650 RENTALBEAST
• 2025-12-30 Pending — GLVAR
• 2025-12-30 Listed $426,000 GLVAR
• 2025-12-29 Coming Soon $426,000 GLVAR
• 2025-11-01 Price Changed $1,650 RENTALBEAST
• 2025-10-24 Rental Removed $1,500 RENTALBEAST
• 2025-10-23 Listed for Rent $1,500 RENTALBEAST
• 2025-10-23 Price Changed $1,600 RENTALBEAST
• 2025-09-16 Rental Removed $1,400 RENTALBEAST
• 2025-09-07 Listed for Rent $1,400 RENTALBEAST
• 2025-09-02 Rental Removed $1,400 RENTALBEAST
• 2025-08-28 Listed for Rent $1,400 RENTALBEAST
• 2025-08-23 Rental Removed $1,400 RENTALBEAST
• 2025-08-22 Listed for Rent $1,400 RENTALBEAST
• 2025-08-16 Rental Removed $1,400 RENTALBEAST
• 2025-08-11 Listed for Rent $1,400 RENTALBEAST
• 2025-08-06 Rental Removed $1,400 RENTALBEAST
• 2025-08-01 Listed for Rent $1,400 RENTALBEAST
• 2025-07-31 Listed for Rent $1,400 RENTALBEAST
• 2025-07-25 Rental Removed $1,300 RENTALBEAST
• 2025-07-25 Rental Removed $1,300 RENTALBEAST
• 2025-07-24 Listed for Rent $1,300 RENTALBEAST
• 2025-07-24 Listed for Rent $1,400 RENTALBEAST
• 2024-09-15 Rental Removed $1,550 APPFOLIO
• 2024-08-18 Price Changed $1,550 APPFOLIO
• 2024-08-03 Listed for Rent $1,650 APPFOLIO
• 2023-03-13 Listing Removed — GLVAR
• 2022-12-19 Listed $899,999 GLVAR
• 2022-12-07 Sold (MLS) $590,000 GLVAR
• 2022-10-19 Pending — GLVAR
• 2022-09-27 Relisted — GLVAR
• 2022-09-19 Contingent — GLVAR
• 2022-08-23 Listed $699,000 GLVAR
• 2021-11-05 Listing Removed — GLVAR
• 2021-05-05 Listed $1,200,000 GLVAR
• 2018-11-01 Pending — GLVAR
• 2018-11-01 Listing Removed — GLVAR
• 2018-08-31 Contingent — GLVAR
• 2018-07-14 Pending — GLVAR
• 2018-03-09 Relisted — GLVAR
• 2018-03-09 Listing Removed — GLVAR
• 2018-03-09 Listed $249,000 GLVAR
• 2016-09-06 Listing Removed — GLVAR
• 2016-09-06 Listed $175,000 GLVAR
• 2011-04-02 Listing Removed — GLVAR
• 2010-12-17 Pending — GLVAR
• 2010-12-08 Listed $365,000 GLVAR