1801 W Irons St · Pahrump, NV 89048

$140,000

2 bd · 2.0 ba · 1,224 sqft · Manufactured · 57 Days on market

Built 1989 1.00 ac lot Est $234k · 40% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.0/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT OPPORTUNITY! ONE ACRE LOT WITH MATURE TREES, RV GARAGE, STEREO SYSTEM TROUGH OUT HOUSE, WELL MAiNTAINED PROPERTY. SELLERS MOTIVATED.

Key facts

• Huge barn
• Fully fenced lot
• 1 acre lot

Tags

• FULLY FENCED LOT
• HUGE BARN
• IMMEDIATE RENTAL INCOME

Property features AI

Finance

• Financial info: Current lease in place (lease amount listed, expires April 30, 2026)

Exterior

• Parking: Open parking; RV potential with RV access/parking
• Utilities: Electricity available; Photovoltaics: none; Septic available / septic tank; Private water from a well
• Home design: Single-story; Resale property; Faces east; Mobile home dimensions approximately 51' x 24'
• Construction: Composition/shingle roof; Resale (previously owned)
• Exterior features: Outbuilding(s) / shed; Shed(s); Back yard fencing; Pasture fencing; One to five acres lot; Desert landscaping; Landscaped

Interior

• Kitchen: Breakfast bar/counter; Electric range
• Bedrooms: Up to 2 possible bedrooms; Bedroom 2: ceiling light, closet — 8x10; Bedroom 3: ceiling light, closet — 8x10; Additional bedroom/room: ceiling light, closet — 12x10
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Unfurnished; Bedroom on main level; Primary bedroom downstairs; None (no additional interior features listed)
• Laundry & utility: Electric dryer hookup on main level

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $384 ($5k/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: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.4% in Pahrump — 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 (#30 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, crime F.
• Nye County School District (rural): math 20% / reading 33% proficiency, ranked #16 of 17 in NV (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.7%/yr); 1116 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent.
• This rent runs 30% of the median local income ($61k/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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Nye County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $102k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 1.10% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.74%
• DSCR: 1.52
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $233,784
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 W Irons St	0.00mi	2/2.0	1,224 (0%)	1mo	$130,000	$106	99
1830 W Irons St	0.06mi	3/2.0 (+1)	1,165 (-5%)	6mo	$279,000	$239	79
820 Luella Ct	0.40mi	3/2.0 (+1)	1,203 (-2%)	9mo	$200,000	$166	66
1421 W Irons St	0.38mi	3/2.0 (+1)	1,378 (+13%)	6mo	$252,000	$183	51
1891 W Donner St	0.22mi	3/2.0 (+1)	1,080 (-12%)	20mo	$245,000	$227	48
421 S David St	0.38mi	3/2.0 (+1)	1,348 (+10%)	15mo	$258,000	$191	48
1211 W Hardy Ln	0.66mi	3/2.0 (+1)	1,296 (+6%)	12mo	$263,000	$203	45

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 · 2.73% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,274
• Equity at exit: $20,874

10-year hold

• IRR: 10.2%
• Equity multiple: 1.78×
• Total profit: $30,635
• Equity at exit: $12,105

Cash invested: $39,200 (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 89048

• Home prices YoY: -7.2%
• Rents YoY: 2.7%
• Active inventory: 1116
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,546 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$45 /mo · $540/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $384

Break-even live

Break-even rent $1,060

Max offer price $140,000

Occupancy floor 70%

Sensitivity live

Price	-10% $463	-5% $423	+0% $384	+5% $344	+10% $304
Rent	-10% $262	-5% $323	+0% $384	+5% $445	+10% $506
Rate	-1.0pp $454	-0.5pp $419	base $384	+0.5pp $347	+1.0pp $310

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1860 W Wilson Rd Pahrump, NV	3.0	2.0	1440	$1,690	$1.17	44d	1	0.18mi
1480 W Irons St Pahrump, NV	2.0	2.0	980	$1,600	$1.63	44d	1	0.34mi
2770 Rio Rico Dr Pahrump, NV	3.0	3.0	1236	$1,435	$1.16	44d	1	1.29mi

Listing history 9 events

1. 2026-05-15
   status Pending
2. 2026-04-19
   historical Active Under Contract
3. 2026-03-20
   status Active
4. 2026-03-11
   status Pending
5. 2026-03-10
   listed $140,000 Active
6. 2006-12-22
   soldstatus $102,000
7. 2006-12-21
   soldstatus $102,000 139-char remark

   Show marketing remark (139 chars)

   GREAT OPPORTUNITY! ONE ACRE LOT WITH MATURE TREES, RV GARAGE, STEREO SYSTEM TROUGH OUT HOUSE, WELL MAiNTAINED PROPERTY. SELLERS MOTIVATED.

8. 2006-11-20
   listed $110,000 139-char remark

   Show marketing remark (139 chars)

   GREAT OPPORTUNITY! ONE ACRE LOT WITH MATURE TREES, RV GARAGE, STEREO SYSTEM TROUGH OUT HOUSE, WELL MAiNTAINED PROPERTY. SELLERS MOTIVATED.

9. 2001-11-30
   soldstatus $45,000

ⓘ 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: $540 · $45/mo
• Projected year-2 tax: $826 · $69/mo
• Expected delta: +$286/yr (+$24/mo · 53.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,549
• − Mortgage interest: −$7,842
• − Property taxes: −$540
• − Insurance: −$700
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − Depreciation: −$4,073
• Taxable income: $2,427
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $4,022/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: Nye County School District
• NCES district ID: 3200360
• Math proficiency: 20% ▼ -6.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $41,447
• Composite: 22.43/100
• National rank: #8110
• State rank: #16 of 17 in NV

Livability — Pahrump

• Score: 68/100
• State rank: #30
• US rank: #9226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pahrump, NV
• County: Nye County · 47,491 people
• City population: 47,491
• Metro: Pahrump, NV
• Population (ZIP): 26,486
• Household income: $61,367
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 939.0

Population outlook (Nye County) Hauer SSP2

• Today (2025): 40,727 people
• By 2030: 38,812 · -4.7%
• By 2040: 33,952 · -16.6%
• By 2050: 29,393 · -27.8%
• By 2075: 21,122 · -48.1%
• By 2100: 14,400 · -64.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 13% Two or more races 12% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% Tagalog/Filipino 1%

Political lean MEDSL · Nye

• 2024 margin: Solid R (+42.2) · D 28.0% · R 70.2% · Other 1.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.4 2016: R+42.0 2012: R+24.2 2008: R+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.52%
• Current HPI: 277.4486
• Rent YoY: ▲ 2.73%
• Metro: Pahrump, 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

+211.1% since first listed

9 events — show timeline

• 2026-05-15 Pending — GLVAR
• 2026-04-19 Contingent — GLVAR
• 2026-03-20 Relisted — GLVAR
• 2026-03-11 Pending — GLVAR
• 2026-03-10 Listed $140,000 GLVAR
• 2006-12-22 Sold (Public Records) $102,000 Public Records
• 2006-12-21 Sold (MLS) $102,000 GLVAR
• 2006-11-20 Listed $110,000 GLVAR
• 2001-11-30 Sold (Public Records) $45,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $540 · +3.7% YoY. Source: county tax records.