2050 S Magic Way #201 · Henderson, NV 89002

$139,900

2 bd · 2.0 ba · 799 sqft · Manufactured · 335 Days on market

Built 2025 Good condition

---

Why this score? — see what drove the C 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built by Durango Homes by Cavco is a thoughtfully arranged 2 bed, 2 bath home offers an open-concept living area, galley kitchen, and comfortably sized bedrooms. With smart use of space and budget-conscious design, this home provides everyday functionality in a clean, modern layout. Located in the peaceful community of Canyon Heights in Henderson, NV, residents can enjoy a variety of amenities including a community clubhouse, swimming pool, and playground. With stunning views of the surrounding mountains, this community offers a serene setting for residents to enjoy. Close to shopping, dining, and outdoor recreation opportunities, Canyon Heights is the perfect place to call home.

Key facts

• Covered porch
• Carport
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• WELL EQUIPPED KITCHEN
• CONVENIENT LAUNDRY ROOM
• CARPORT
• SHED FOR EXTRA STORAGE
• COVERED PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#18 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, schools A-, employment A-; Watch: cost of living D, amenities F, commute 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 flat; 219 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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 335 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.15% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-7,086
• Equity at exit: $20,860

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $4,409
• Equity at exit: $12,096

Cash invested: $39,172 (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 89002

• Home prices YoY: -31.0%
• Rents YoY: 0.7%
• Active inventory: 219
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $301

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 76%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
375 Conestoga Way Henderson, NV	1.0–3.0	1.0–2.0	1085	$1,672	$1.54	2d	19	0.88mi
713 Anne Ln Unit 85D Henderson, NV	1.0	1.0	724	$1,077	$1.49	43d	1	1.38mi
520 Arrowhead Trl #512 Henderson, NV	2.0	2.0	1019	$1,450	$1.42	19d	1	1.43mi
520 Arrowhead Trl #512 Henderson, NV	2.0	2.0	1019	$1,450	$1.42	23d	1	1.43mi

Listing history 15 events

1. 2026-06-18
   days on market $139,900 Active 335 DOM
2. 2026-06-17
   days on market $139,900 Active 334 DOM
3. 2026-06-16
   days on market $139,900 Active 333 DOM
4. 2026-06-15
   days on market $139,900 Active 332 DOM
5. 2026-06-13
   days on market $139,900 Active 330 DOM
6. 2026-06-09
   days on market $139,900 Active 326 DOM
7. 2026-06-08
   days on market $139,900 Active 325 DOM
8. 2026-06-08
   days on market $139,900 Active 324 DOM
9. 2026-06-03
   days on market $139,900 Active 320 DOM
10. 2026-06-02
    days on market $139,900 Active 319 DOM
11. 2026-06-01
    days on market $139,900 Active 318 DOM
12. 2026-05-31
    days on market $139,900 Active 317 DOM
13. 2025-08-20
    status Active 688-char remark

    Show marketing remark (688 chars)

    Built by Durango Homes by Cavco is a thoughtfully arranged 2 bed, 2 bath home offers an open-concept living area, galley kitchen, and comfortably sized bedrooms. With smart use of space and budget-conscious design, this home provides everyday functionality in a clean, modern layout. Located in the peaceful community of Canyon Heights in Henderson, NV, residents can enjoy a variety of amenities including a community clubhouse, swimming pool, and playground. With stunning views of the surrounding mountains, this community offers a serene setting for residents to enjoy. Close to shopping, dining, and outdoor recreation opportunities, Canyon Heights is the perfect place to call home.

14. 2025-08-19
    historical 688-char remark

    Show marketing remark (688 chars)

    Built by Durango Homes by Cavco is a thoughtfully arranged 2 bed, 2 bath home offers an open-concept living area, galley kitchen, and comfortably sized bedrooms. With smart use of space and budget-conscious design, this home provides everyday functionality in a clean, modern layout. Located in the peaceful community of Canyon Heights in Henderson, NV, residents can enjoy a variety of amenities including a community clubhouse, swimming pool, and playground. With stunning views of the surrounding mountains, this community offers a serene setting for residents to enjoy. Close to shopping, dining, and outdoor recreation opportunities, Canyon Heights is the perfect place to call home.

15. 2025-07-17
    listed $139,900 Active 688-char remark

    Show marketing remark (688 chars)

    Built by Durango Homes by Cavco is a thoughtfully arranged 2 bed, 2 bath home offers an open-concept living area, galley kitchen, and comfortably sized bedrooms. With smart use of space and budget-conscious design, this home provides everyday functionality in a clean, modern layout. Located in the peaceful community of Canyon Heights in Henderson, NV, residents can enjoy a variety of amenities including a community clubhouse, swimming pool, and playground. With stunning views of the surrounding mountains, this community offers a serene setting for residents to enjoy. Close to shopping, dining, and outdoor recreation opportunities, Canyon Heights is the perfect place to call home.

ⓘ 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

• 🌡 Heat 8/10 Severe
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,263
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$4,070
• Taxable income: $1,476
• Est. tax owed @ 24.0%: −$354
• After-tax cash flow: $3,261/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.

Condition & rehab AI · 3 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a fresh exterior and modern interior. It offers a good return on investment with minor updates that could significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace artificial grass with natural turf — Improves curb appeal and could increase rental value
• Both Install smart home features — Enhances functionality and could attract buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace artificial grass with natural turf — Improves curb appeal and could increase rental value ↑
• Both Install smart home features — Enhances functionality and could attract buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Henderson

• Score: 73/100
• State rank: #18
• US rank: #5605

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henderson, NV
• County: Clark County · 2,306,105 people
• City population: 344,778
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 37,664
• Household income: $105,471
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 860.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 19% Two or more races 12% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 3% Italian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Tagalog/Filipino 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: ▼ -127.08%
• Current HPI: 282.4934
• Rent YoY: ▲ 0.70%
• 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

3 events — show timeline

• 2025-08-20 Relisted — Zillow
• 2025-08-19 Delisted — Zillow
• 2025-07-17 Listed $139,900 Zillow