Plan 2, American Plan · Spanish Springs, NV 89441

$734,990

3 bd · 3.5 ba · 2,811 sqft · SingleFamily · 534 Days on market

Good condition $31/mo HOA

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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 +18.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Our American Contemporary Style Plan 2 features a 90 sq. ft. covered porch with a modern full-lite 8' x 3'6" entry door that leads to the foyer. Upon entering, a long hallway offers a view of the home and the outdoor living space. Two secondary bedrooms are across the hall at the front of the house. Both bedrooms have access to their own private bathrooms and walk-in closets. An office and a guest powder bath are located further down the hall. The open-concept great room, kitchen, and dining area are at the end of the hall, and the space is surrounded by windows that let in natural light from every direction. The kitchen features a massive 12' x 5'6" island and an oversized walk-in pantry. A 233 sq. ft. covered outdoor living space can be accessed through the glass sliding doors in the dining area, providing year-round protection from the elements. On the other side of the home, the primary bedroom is accessible through a privacy-enhancing vestibule. It features 295 sq. ft. , a luxurious bathroom with a 4' x 4' glass-enclosed shower, and a huge walk-in closet. The laundry room is tucked behind the kitchen and just off a short hallway that leads past a drop zone into the 905 sq. ft. 4-car garage. Homes at Shadow Hills come with a range of high-quality standard features, including 10'1" interior ceilings, fully cased 8' interior doors, Quartz countertops, stainless steel appliances, and 12" x 24" ceramic tile flooring.

Key facts

• Covered porch
• Massive island
• Outdoor living space

Tags

• COVERED PORCH
• OUTDOOR LIVING SPACE
• OPEN-CONCEPT GREAT ROOM
• MASSIVE ISLAND
• OVERSIZED WALK-IN PANTRY
• PRIVACY-ENHANCING VESTIBULE

🏗️ New construction. The $734,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $797,485.

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $735k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $735k).
• Recommended offer: $647k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.4% in Spanish Springs — 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 67/100 on livability (#35 in NV) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Washoe County School District (urban): math 30% / reading 44% proficiency, ranked #6 of 17 in NV (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alyce Taylor Elementary (math 54% / reading 55%, grade C, #42 of 402 statewide, top 10%, 452 students, 27% FRL); Yvonne Shaw Middle School (math 33% / reading 57%, grade D, #14 of 109 statewide, top 13%, 712 students, 20% FRL); Spanish Springs High School (math 18% / reading 41%, grade F, #67 of 131 statewide, top 53%, 2,057 students, 17% FRL) — zoned schools average 22% FRL vs 42% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).
• At $7,900/mo this rent would consume 77% of the median local household income ($124k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Washoe County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 534 days — a 12% lower offer ($647k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $646,791 (12.0% below list)

Questions for the listing agent

1. It's been on market 534 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

• ARV (median comp): $797,485
• List price: $734,990
• Delta: -7.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11646 Neff Ranch Dr	0.11mi	4/4.5 (+1)	3,007 (+7%)	2mo	$869,900	$289	73
11640 Crosby Ranch Dr	0.15mi	4/4.5 (+1)	3,007 (+7%)	5mo	$768,000	$255	68
11602 Vinegar Peak Dr	0.46mi	3/2.5	2,704 (-4%)	4mo	$795,970	$294	64
510 La Tray Dr Unit Magnolia 83	0.46mi	4/3.0 (+1)	2,729 (-3%)	4mo	$725,000	$266	64
456 Pah Rah Ridge Dr	0.62mi	3/2.5	2,704 (-4%)	0mo	$959,000	$355	61
11560 Vinegar Peak Dr Unit Willows 128	0.60mi	3/2.5	2,709 (-4%)	2mo	$820,000	$303	61
11564 Vinegar Peak Dr Unit Willows 127	0.59mi	4/3.5 (+1)	2,933 (+4%)	1mo	$885,000	$302	59
11565 Vinegar Peak Dr Unit Willows 118	0.57mi	4/3.5 (+1)	2,933 (+4%)	4mo	$795,000	$271	58
11785 Valley Crest Dr	0.73mi	3/3.5	2,953 (+5%)	0mo	$874,000	$296	57
511 La Tray Dr Unit Willows 68	0.44mi	3/2.5	2,495 (-11%)	1mo	$698,000	$280	56
11412 Wildcat Peak Dr Unit Willows 94	0.52mi	4/3.5 (+1)	3,206 (+14%)	2mo	$825,000	$257	45
11557 Vinegar Peak Dr Unit Harris 116	0.60mi	4/3.5 (+1)	3,206 (+14%)	4mo	$800,000	$250	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-84,584
• Equity at exit: $118,908

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-15,786
• Equity at exit: $68,952

Cash invested: $223,296 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 43 active · 16 under contract
• Months of supply: 11.7 mo (9%/mo absorbed)
• Median asking: $767,995 ($275/sqft)
• Median days on market: 140 d
• This list price: 30% of active listings are priced below it
• ARV vs active asking: +3.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 89441

• Home prices YoY: -18.5%
• Active inventory: 162
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $7,900 medium
• Mortgage (P&I): −$4,182
• Tax est. 1.5%: −$997 /mo · $11,962/yr
• Insurance: −$332
• HOA: −$31
• Vacancy / Maint / Mgmt: −$1,659
• Net cashflow: $699

Break-even live

Break-even rent $7,015

Max offer price $797,485

Occupancy floor 86%

Sensitivity live

Price	-10% $1,250	-5% $974	+0% $699	+5% $423	+10% $148
Rent	-10% $75	-5% $387	+0% $699	+5% $1,011	+10% $1,323
Rate	-1.0pp $1,100	-0.5pp $902	base $699	+0.5pp $492	+1.0pp $282

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: $199,371
• Closing costs: $23,925
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Calle de la Plata Sparks, NV	3.0	2.0	2056	$7,900	$3.84	72d	1	1.30mi

Listing history 50 events

1. 2026-08-08
   days on market $734,990 Active 534 DOM
2. 2026-08-07
   days on market $734,990 Active 533 DOM
3. 2026-08-06
   days on market $734,990 Active 532 DOM
4. 2026-08-05
   days on market $734,990 Active 531 DOM
5. 2026-08-04
   days on market $734,990 Active 530 DOM
6. 2026-08-03
   days on market $734,990 Active 529 DOM
7. 2026-07-31
   days on market $734,990 Active 526 DOM
8. 2026-07-30
   days on market $734,990 Active 525 DOM
9. 2026-07-29
   days on market $734,990 Active 524 DOM
10. 2026-07-27
    days on market $734,990 Active 522 DOM
11. 2026-07-25
    days on market $734,990 Active 520 DOM
12. 2026-07-23
    days on market $734,990 Active 518 DOM
13. 2026-07-22
    days on market $734,990 Active 517 DOM
14. 2026-07-21
    days on market $734,990 Active 516 DOM
15. 2026-07-18
    days on market $734,990 Active 513 DOM
16. 2026-07-16
    days on market $734,990 Active 511 DOM
17. 2026-07-16
    days on market $734,990 Active 510 DOM
18. 2026-07-14
    days on market $734,990 Active 509 DOM
19. 2026-07-13
    days on market $734,990 Active 508 DOM
20. 2026-07-12
    days on market $734,990 Active 507 DOM
21. 2026-07-11
    days on market $734,990 Active 506 DOM
22. 2026-07-10
    days on market $734,990 Active 505 DOM
23. 2026-07-09
    days on market $734,990 Active 504 DOM
24. 2026-07-08
    days on market $734,990 Active 503 DOM
25. 2026-07-07
    days on market $734,990 Active 502 DOM
26. 2026-07-06
    days on market $734,990 Active 501 DOM
27. 2026-07-05
    days on market $734,990 Active 500 DOM
28. 2026-07-04
    days on market $734,990 Active 499 DOM
29. 2026-07-03
    days on market $734,990 Active 498 DOM
30. 2026-07-02
    days on market $734,990 Active 497 DOM
31. 2026-07-01
    days on market $734,990 Active 496 DOM
32. 2026-06-30
    days on market $734,990 Active 495 DOM
33. 2026-06-29
    days on market $734,990 Active 494 DOM
34. 2026-06-28
    days on market $734,990 Active 493 DOM
35. 2026-06-28
    days on market $734,990 Active 492 DOM
36. 2026-06-27
    days on market $734,990 Active 491 DOM
37. 2026-06-25
    days on market $734,990 Active 489 DOM
38. 2026-06-23
    days on market $734,990 Active 487 DOM
39. 2026-06-22
    days on market $734,990 Active 486 DOM
40. 2026-06-18
    days on market $734,990 Active 483 DOM
41. 2026-06-17
    days on market $734,990 Active 482 DOM
42. 2026-06-16
    days on market $734,990 Active 481 DOM
43. 2026-06-15
    days on market $734,990 Active 480 DOM
44. 2026-06-14
    pricedays on market $734,990 Active 478 DOM
45. 2026-06-10
    days on market $724,990 Active 475 DOM
46. 2026-06-09
    days on market $724,990 Active 474 DOM
47. 2026-06-08
    days on market $724,990 Active 473 DOM
48. 2026-06-07
    days on market $724,990 Active 472 DOM
49. 2026-06-05
    days on market $724,990 Active 469 DOM
50. 2026-06-03
    days on market $724,990 Active 468 DOM

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $94,800
• − Mortgage interest: −$44,672
• − Property taxes: −$11,962
• − Insurance: −$3,987
• − Repairs & maintenance: −$7,584
• − Management: −$7,584
• − HOA: −$372
• − Depreciation: −$23,200
• Taxable loss: −$4,561
• Est. tax savings @ 24.0%: +$1,095
• After-tax cash flow: $9,480/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 · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $14,055–$42,165 screening

This American Contemporary Style home is in good condition with a modern design and ample space. It is move-in ready with minor cosmetic improvements that could further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale Kitchen appliances — Modern appliances improve the kitchen's functionality and appeal ↑
• Resale Bathroom fixtures — Upgraded fixtures enhance the bathrooms' appeal and functionality ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 43/100

Zoned Schools

Elementary Alyce Taylor Elementary C NV #42/402 Nat'l #9,801/41,679 Middle Yvonne Shaw Middle School D NV #14/109 Nat'l #4,622/14,009 High Spanish Springs High School F NV #67/131 Nat'l #11,215/17,239

Schools (NCES district)

• District: Washoe County School District
• NCES district ID: 3200480
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,025
• Composite: 32.44/100
• National rank: #5721
• State rank: #6 of 17 in NV

C Composite livability gradescore 67/100

Livability — Spanish Springs

• Score: 67/100
• State rank: #35
• US rank: #11102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Springs, NV
• County: Washoe · 499,260 people
• City population: 13,854
• Metro: Reno, NV
• Population (ZIP): 13,854
• Household income: $123,625
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 6% of renters

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Population outlook (Washoe County) Hauer SSP2

• Today (2025): 499,260 people
• By 2030: 523,429 · +4.8%
• By 2040: 564,420 · +13.1%
• By 2050: 595,548 · +19.3%
• By 2075: 652,375 · +30.7%
• By 2100: 661,518 · +32.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 10% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

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Political lean MEDSL · Washoe

• 2024 margin: Toss-up / Even · D 49.3% · R 48.3% · Other 2.4%
• 2008→2024 swing: -11.7pp toward R · 2008: 12.7pp · 2024: 1.0pp
• All cycles: 2024: D+1.0 2020: D+4.5 2016: D+1.2 2012: D+3.6 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.99%
• Current HPI: 330.2277
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.08%
• F500 in state: 6

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Industry mix (Fortune 500 HQ in NV)

Industry	F500 HQs	Revenue
▸Hotels / Casinos	3	$36B

Price history

+2.8% since first listed

3 events — show timeline

• 2026-03-21 Price Changed $724,990 Zillow
• 2026-02-25 Price Changed $714,990 Zillow
• 2025-02-20 Listed $704,990 Zillow