470 Elm Dr #101 · Paradise, NV 89169

$124,900

1 bd · 1.0 ba · 462 sqft · Condo public records · 45 Days on market

Built 1986 $189/mo HOA · 16% of rent

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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 +13.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Close to Convention Center, the Las Vegas Strip! Unit is FULLY FURNISHED including everything from furniture to the silverware!! Unit was totally remodeled a few years ago, everything like new. Hardly lived in. .. .Owner used for business and vacation home.

Key facts

• Close to university
• Close to monorail
• Centrally situated

Tags

• CENTRALLY SITUATED
• CLOSE TO CONVENTION CENTER
• CLOSE TO UNIVERSITY
• CLOSE TO WYNN CASINO
• CLOSE TO GOLF COURSE
• CLOSE TO MONORAIL

Property features AI

Finance

• HOA & community: Homeowners association (Paradise Colony); Monthly association fee covers water; Association amenities include gated community and pool

Exterior

• Parking: Assigned covered parking; Detached carport (1 space); Guest parking; Has carport
• Security: Controlled access
• Utilities: Electricity available; Public water; Public sewer
• Home design: 2-story property; Resale condition; Faces north; Attached property (multi-family)
• Construction: Frame and stucco construction; Pitched tile roof
• Exterior features: Burglar bars; Storm/security shutters; Full wrought-iron fencing; Landscaped grounds; Community pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Tile flooring in kitchen
• Bedrooms: One additional possible bedroom
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Multiple heating units; Wall furnace; Electric refrigerated cooling
• Interior features: Unfurnished; Bedroom on main level; Primary downstairs
• Laundry & utility: Electric dryer hookup; Laundry closet

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-1 ($-7/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (6.4% below list).
• Recommended offer: $117k (6.4% below list) — sets the bar for 1% rule.

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+, schools F, 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.
• Market conditions: Rents falling (-4.4%/yr); 178 active listings in the ZIP; lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• This rent runs 34% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 45 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $88k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,883 (6.4% 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 45 days. Have you received any prior offers? Is the seller open to a 6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.94% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• GRM: 8.9

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: -20.0%
• Equity multiple: 0.32×
• Total profit: $-23,648
• Equity at exit: $18,623

10-year hold

• IRR: -22.0%
• Equity multiple: 0.04×
• Total profit: $-33,657
• Equity at exit: $10,799

Cash invested: $34,972 (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 89169

• Home prices YoY: -33.4%
• Rents YoY: -4.4%
• Active inventory: 178
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$28 /mo · $335/yr
• Insurance: −$52
• HOA: −$189
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-1

Break-even live

Break-even rent $1,170

Max offer price $124,793

Occupancy floor 95%

Sensitivity live

Price	-10% $70	-5% $35	+0% $-1	+5% $-36	+10% $-71
Rent	-10% $-93	-5% $-47	+0% $-1	+5% $46	+10% $92
Rate	-1.0pp $62	-0.5pp $31	base $-1	+0.5pp $-33	+1.0pp $-66

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $189 · $2,268/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $124,900 Active 45 DOM
2. 2026-06-17
   days on market $124,900 Active 44 DOM
3. 2026-06-16
   days on market $124,900 Active 43 DOM
4. 2026-06-15
   days on market $124,900 Active 42 DOM
5. 2026-06-13
   days on market $124,900 Active 40 DOM
6. 2026-06-09
   days on market $124,900 Active 36 DOM
7. 2026-06-08
   days on market $124,900 Active 35 DOM
8. 2026-06-07
   days on market $124,900 Active 34 DOM
9. 2026-06-03
   days on market $124,900 Active 30 DOM
10. 2026-06-02
    days on market $124,900 Active 29 DOM
11. 2026-06-01
    days on market $124,900 Active 28 DOM
12. 2026-05-31
    days on market $124,900 Active 27 DOM
13. 2026-05-04
    listed $124,900 Active 992-char remark
14. 2022-08-07
    price $845
15. 2018-06-27
    soldstatus $88,000 Sold 259-char remark

    Show marketing remark (259 chars)

    Close to Convention Center, the Las Vegas Strip! Unit is FULLY FURNISHED including everything from furniture to the silverware!! Unit was totally remodeled a few years ago, everything like new. Hardly lived in. .. .Owner used for business and vacation home.

16. 2018-06-27
    soldstatus $88,000

    Show marketing remark (259 chars)

    Close to Convention Center, the Las Vegas Strip! Unit is FULLY FURNISHED including everything from furniture to the silverware!! Unit was totally remodeled a few years ago, everything like new. Hardly lived in. .. .Owner used for business and vacation home.

17. 2018-06-05
    historical Contingent Offer 259-char remark

    Show marketing remark (259 chars)

    Close to Convention Center, the Las Vegas Strip! Unit is FULLY FURNISHED including everything from furniture to the silverware!! Unit was totally remodeled a few years ago, everything like new. Hardly lived in. .. .Owner used for business and vacation home.

18. 2018-06-04
    status Pending 259-char remark

    Show marketing remark (259 chars)

    Close to Convention Center, the Las Vegas Strip! Unit is FULLY FURNISHED including everything from furniture to the silverware!! Unit was totally remodeled a few years ago, everything like new. Hardly lived in. .. .Owner used for business and vacation home.

19. 2017-10-17
    listed $89,900 Active 259-char remark

    Show marketing remark (259 chars)

    Close to Convention Center, the Las Vegas Strip! Unit is FULLY FURNISHED including everything from furniture to the silverware!! Unit was totally remodeled a few years ago, everything like new. Hardly lived in. .. .Owner used for business and vacation home.

20. 1987-04-30
    soldstatus $38,500

ⓘ 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: $335 · $28/mo
• Projected year-2 tax: $737 · $61/mo
• Expected delta: +$401/yr (+$33/mo · 119.7%)

ⓘ 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 ≥106°F today · 17 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: $14,026
• − Mortgage interest: −$6,996
• − Property taxes: −$335
• − Insurance: −$624
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$2,268
• − Depreciation: −$3,633
• Taxable loss: −$2,076
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $491/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): 22,171
• Household income: $40,904
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2744.0

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 0.74)
• Race & ethnicity: Hispanic / Latino 33% White 30% Black 23% Two or more races 13% Asian 9% Native American 2%
• Hispanic origin (detail): Mexican 21% Cuban 5%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 30% · Canada, China
• Languages at home: 59% English-only · Spanish 27% Tagalog/Filipino 4% Other Asian/Pacific 3%

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: ▼ -136.91%
• Current HPI: 272.6449
• Rent YoY: ▼ -4.43%
• 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

+224.4% since first listed

8 events — show timeline

• 2026-05-04 Listed $124,900 GLVAR
• 2022-08-07 Price Changed $845 RENT.
• 2018-06-27 Sold (Public Records) $88,000 Public Records
• 2018-06-27 Sold (MLS) $88,000 GLVAR
• 2018-06-05 Contingent — GLVAR
• 2018-06-04 Pending — GLVAR
• 2017-10-17 Listed $89,900 GLVAR
• 1987-04-30 Sold (Public Records) $38,500 Public Records

Property tax history

-2.0%/yr

Latest (2025): $335 · +2.2% YoY. Source: county tax records.