509 Mckellar Cir · Paradise, NV 89119

$675,000

8 bd · 4.0 ba · 2,520 sqft · MultiFamily public records · 38 Days on market

Built 1963 4,356 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
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great opportunity to purchase a 4 unit property! UNLV is a few blocks away, The stripisabout 1 mile away too

Key facts

• 4 plex
• Convenient location
• New roof

Tags

• NEW ROOF
• INVESTMENT OPPORTUNITY
• 4 PLEX
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Gross annual income: $49,680; Operating expenses: $2,500; Insurance expense: $1,900; Current rents vary by unit (approx. $995–$1,100; example rents listed: $995, $1,050, $1,100); Tenant pays electricity; Lease option: month-to-month
• HOA & community: Cable TV available

Exterior

• Utilities: Public water; Public sewer; No photovoltaics (electric service)
• Home design: Fourplex (multi-family); 2 stories; Resale condition
• Construction: Stucco construction; Composition and shingle roof
• Exterior features: Balcony

Interior

• Kitchen: Exhaust fan; Garbage disposal; Oven; Range; Range hood; Refrigerator
• Bedrooms: Four one-bedroom units
• Flooring: Carpet; Ceramic tile; Tile; Wood
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Blinds on windows; Ceiling fans; Window treatments

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $675k).
• Recommended offer: $655k (3.0% below list) — sets the bar for market timing.

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: Thomas Ruby S Es (math 8% / reading 17%, grade F, #368 of 402 statewide, top 93%, 644 students, 100% FRL); Orr William E Ms (math 5% / reading 18%, grade F, #103 of 109 statewide, top 95%, 815 students, 100% FRL); Valley Hs (math 8% / reading 24%, grade F, #107 of 131 statewide, top 82%, 2,714 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 13% at this address vs 30% district-wide (-17 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 soft (-1.8%/yr); 200 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $8,606/mo this rent would consume 220% of the median local household income ($47k/yr) (locally 4678% 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 (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k 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 (-3.0% appreciation + 0.0% rent growth), your $189k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $155k; list at $675k implies a 335% gain — meaningful room to come down on a strong offer.

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 $654,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.03%
• DSCR: 1.80
• GRM: 6.5

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: 6.4%
• Equity multiple: 1.24×
• Total profit: $45,928
• Equity at exit: $100,645

10-year hold

• IRR: 13.2%
• Equity multiple: 1.92×
• Total profit: $174,140
• Equity at exit: $58,362

Cash invested: $189,000 (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 89119

• Rents YoY: -1.8%
• Active inventory: 200
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $8,606 high
• Mortgage (P&I): −$3,540
• Tax from tax record: −$139 /mo · $1,662/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,807
• Net cashflow: $2,839

Break-even live

Break-even rent $5,012

Max offer price $675,000

Occupancy floor 62%

Sensitivity live

Price	-10% $3,221	-5% $3,030	+0% $2,839	+5% $2,648	+10% $2,457
Rent	-10% $2,159	-5% $2,499	+0% $2,839	+5% $3,179	+10% $3,519
Rate	-1.0pp $3,179	-0.5pp $3,011	base $2,839	+0.5pp $2,664	+1.0pp $2,486

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,608
Total (4 units)			$8,606

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $675,000 Active 38 DOM
2. 2026-06-18
   days on market $675,000 Active 35 DOM
3. 2026-06-17
   days on market $675,000 Active 34 DOM
4. 2026-06-16
   days on market $675,000 Active 33 DOM
5. 2026-06-15
   days on market $675,000 Active 32 DOM
6. 2026-06-13
   days on market $675,000 Active 30 DOM
7. 2026-06-09
   days on market $675,000 Active 26 DOM
8. 2026-06-08
   days on market $675,000 Active 25 DOM
9. 2026-06-07
   days on market $675,000 Active 24 DOM
10. 2026-06-03
    days on market $675,000 Active 20 DOM
11. 2026-06-02
    days on market $675,000 Active 19 DOM
12. 2026-06-01
    days on market $675,000 Active 18 DOM
13. 2026-05-31
    days on market $675,000 Active 17 DOM
14. 2026-05-14
    listed $675,000 Active 235-char remark
15. 2019-04-01
    historical
16. 2019-01-06
    price $335,000
17. 2018-09-09
    price $319,900
18. 2018-09-03
    listed $315,000 Active
19. 2015-06-11
    soldstatus $155,000 Sold

    Show marketing remark (109 chars)

    Great opportunity to purchase a 4 unit property! UNLV is a few blocks away, The stripisabout 1 mile away too

20. 2015-06-08
    soldstatus $155,000
21. 2015-04-10
    historical Contingent Offer

    Show marketing remark (109 chars)

    Great opportunity to purchase a 4 unit property! UNLV is a few blocks away, The stripisabout 1 mile away too

22. 2015-04-02
    price $160,000

    Show marketing remark (109 chars)

    Great opportunity to purchase a 4 unit property! UNLV is a few blocks away, The stripisabout 1 mile away too

23. 2015-03-26
    listed $175,000 Exclusive Right

    Show marketing remark (109 chars)

    Great opportunity to purchase a 4 unit property! UNLV is a few blocks away, The stripisabout 1 mile away too

24. 2015-01-01
    historical
25. 2014-11-03
    price $175,000
26. 2014-11-03
    listed $179,000 Exclusive Right
27. 2014-11-03
    historical
28. 2014-10-21
    price $179,000
29. 2014-09-12
    price $185,000
30. 2014-05-05
    listed $190,000 Exclusive Right
31. 2004-05-10
    soldstatus $235,000
32. 1997-10-17
    soldstatus $130,000
33. 1992-07-15
    soldstatus $123,282
34. 1990-08-17
    soldstatus $47,000
35. 1988-07-08
    soldstatus $110,000
36. 1985-12-31
    soldstatus $120,000

ⓘ 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: $1,662 · $139/mo
• Projected year-2 tax: $3,982 · $332/mo
• Expected delta: +$2,320/yr (+$193/mo · 139.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $103,272
• − Mortgage interest: −$37,810
• − Property taxes: −$1,662
• − Insurance: −$3,375
• − Repairs & maintenance: −$8,262
• − Management: −$8,262
• − Depreciation: −$19,636
• Taxable income: $24,265
• Est. tax owed @ 24.0%: −$5,824
• After-tax cash flow: $28,247/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): 50,196
• Household income: $46,960
• Rent vs Own: 77.2% rent · 22.8% own
• Severe rent burden: 4678.0

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 38% White 29% Two or more races 18% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1% Cuban 4%
• Common ancestry: Romanian 2% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 29% Tagalog/Filipino 6% Other Indo-European 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: ▼ -221.72%
• Current HPI: 266.4892
• Rent YoY: ▼ -1.81%
• 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

+462.5% since first listed

23 events — show timeline

• 2026-05-14 Listed $675,000 GLVAR
• 2019-04-01 Listing Removed — GLVAR
• 2019-01-06 Price Changed $335,000 GLVAR
• 2018-09-09 Price Changed $319,900 GLVAR
• 2018-09-03 Listed $315,000 GLVAR
• 2015-06-11 Sold (MLS) $155,000 GLVAR
• 2015-06-08 Sold (Public Records) $155,000 Public Records
• 2015-04-10 Contingent — GLVAR
• 2015-04-02 Price Changed $160,000 GLVAR
• 2015-03-26 Listed $175,000 GLVAR
• 2015-01-01 Listing Removed — GLVAR
• 2014-11-03 Price Changed $175,000 GLVAR
• 2014-11-03 Listed $179,000 GLVAR
• 2014-11-03 Listing Removed — GLVAR
• 2014-10-21 Price Changed $179,000 GLVAR
• 2014-09-12 Price Changed $185,000 GLVAR
• 2014-05-05 Listed $190,000 GLVAR
• 2004-05-10 Sold (Public Records) $235,000 Public Records
• 1997-10-17 Sold (Public Records) $130,000 Public Records
• 1992-07-15 Sold (Public Records) $123,282 Public Records
• 1990-08-17 Sold (Public Records) $47,000 Public Records
• 1988-07-08 Sold (Public Records) $110,000 Public Records
• 1985-12-31 Sold (Public Records) $120,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,662 · +7.8% YoY. Source: county tax records.