615 Grinnel Ave · Lovelock, NV 89419

$99,500

4 bd · 1.0 ba · 4,972 sqft · SingleFamily public records · 192 Days on market

Built 1935 6,969 sqft lot $20/sqft · 84% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.8/10.0

Listing remarks MLS

Incredible flip opportunity in Lovelock with tons of upside. This two-story, over 2,000 sq. ft. home has a main level (approx. 1,522 sq. ft. ) is laid out for three spacious bedrooms, two full baths, a laundry room, and an open kitchen/dining/living area. Upstairs, the 450 sq. ft. plan features a generous primary suite with its own bath plus a bonus/flex room. Proposed floor plans are available. According to seller, there is a new roof and the exterior was prepped for T1-11 siding—matching the remodeled home next door—and the fully fenced yard includes a good-sized storage shed that could be converted into a garage. All city utilities are on site. The existing shed could be converted into a garage. Seller started project but must sell due to unexpected health issues, creating a chance for an investor or contractor to finish a project with major potential. Bring your vision and tools and turn this into a great income-producing property. To be sold "as is". Some building materials included. Video showing the interior available upon request.

Key facts

• Fully fenced yard
• New roof
• 6,969 sq ft lot

Tags

• NEW ROOF
• FULLY FENCED YARD
• GOOD SIZED STORAGE SHED
• GENEROUS PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $713 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#20 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Pershing County School District (rural): math 19% / reading 33% proficiency, ranked #15 of 17 in NV (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 120 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.72% ✓
• Cap rate: 14.90%
• Cash-on-cash: 30.73%
• DSCR: 2.37
• GRM: 4.8

CMA / ARV

• ARV (median comp): $264,814
• List price: $99,500
• Delta: -62.43%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.5%
• Equity multiple: 2.05×
• Total profit: $29,315
• Equity at exit: $14,836

10-year hold

• IRR: 33.2%
• Equity multiple: 4.02×
• Total profit: $84,031
• Equity at exit: $8,603

Cash invested: $27,860 (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 89419

• Home prices YoY: -2.4%
• Active inventory: 120
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,716 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$79 /mo · $943/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $713

Break-even live

Break-even rent $812

Max offer price $99,500

Occupancy floor 53%

Sensitivity live

Price	-10% $770	-5% $742	+0% $713	+5% $685	+10% $657
Rent	-10% $578	-5% $646	+0% $713	+5% $781	+10% $849
Rate	-1.0pp $764	-0.5pp $739	base $713	+0.5pp $688	+1.0pp $661

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $99,500 Active 192 DOM
2. 2026-06-18
   days on market $99,500 Active 191 DOM
3. 2026-06-17
   days on market $99,500 Active 190 DOM
4. 2026-06-16
   days on market $99,500 Active 189 DOM
5. 2026-06-15
   days on market $99,500 Active 188 DOM
6. 2026-06-14
   days on market $99,500 Active 186 DOM
7. 2026-06-12
   days on market $99,500 Active 185 DOM
8. 2026-06-09
   days on market $99,500 Active 182 DOM
9. 2026-06-08
   days on market $99,500 Active 181 DOM
10. 2026-06-07
    days on market $99,500 Active 180 DOM
11. 2026-06-07
    days on market $99,500 Active 179 DOM
12. 2026-06-02
    days on market $99,500 Active 175 DOM
13. 2026-06-01
    days on market $99,500 Active 174 DOM
14. 2026-05-31
    days on market $99,500 Active 173 DOM
15. 2026-05-30
    days on market $99,500 Active 172 DOM
16. 2026-05-03
    price $99,500 1076-char remark

    Show marketing remark (1076 chars)

    Incredible flip opportunity in Lovelock with tons of upside. This two-story, over 2,000 sq. ft. home has a main level (approx. 1,522 sq. ft. ) is laid out for three spacious bedrooms, two full baths, a laundry room, and an open kitchen/dining/living area. Upstairs, the 450 sq. ft. plan features a generous primary suite with its own bath plus a bonus/flex room. Proposed floor plans are available. According to seller, there is a new roof and the exterior was prepped for T1-11 siding—matching the remodeled home next door—and the fully fenced yard includes a good-sized storage shed that could be converted into a garage. All city utilities are on site. The existing shed could be converted into a garage. Seller started project but must sell due to unexpected health issues, creating a chance for an investor or contractor to finish a project with major potential. Bring your vision and tools and turn this into a great income-producing property. To be sold "as is". Some building materials included. Video showing the interior available upon request.

17. 2026-01-25
    price $110,000 1076-char remark

    Show marketing remark (1076 chars)

    Incredible flip opportunity in Lovelock with tons of upside. This two-story, over 2,000 sq. ft. home has a main level (approx. 1,522 sq. ft. ) is laid out for three spacious bedrooms, two full baths, a laundry room, and an open kitchen/dining/living area. Upstairs, the 450 sq. ft. plan features a generous primary suite with its own bath plus a bonus/flex room. Proposed floor plans are available. According to seller, there is a new roof and the exterior was prepped for T1-11 siding—matching the remodeled home next door—and the fully fenced yard includes a good-sized storage shed that could be converted into a garage. All city utilities are on site. The existing shed could be converted into a garage. Seller started project but must sell due to unexpected health issues, creating a chance for an investor or contractor to finish a project with major potential. Bring your vision and tools and turn this into a great income-producing property. To be sold "as is". Some building materials included. Video showing the interior available upon request.

18. 2026-01-06
    price $120,000 1076-char remark

    Show marketing remark (1076 chars)

    Incredible flip opportunity in Lovelock with tons of upside. This two-story, over 2,000 sq. ft. home has a main level (approx. 1,522 sq. ft. ) is laid out for three spacious bedrooms, two full baths, a laundry room, and an open kitchen/dining/living area. Upstairs, the 450 sq. ft. plan features a generous primary suite with its own bath plus a bonus/flex room. Proposed floor plans are available. According to seller, there is a new roof and the exterior was prepped for T1-11 siding—matching the remodeled home next door—and the fully fenced yard includes a good-sized storage shed that could be converted into a garage. All city utilities are on site. The existing shed could be converted into a garage. Seller started project but must sell due to unexpected health issues, creating a chance for an investor or contractor to finish a project with major potential. Bring your vision and tools and turn this into a great income-producing property. To be sold "as is". Some building materials included. Video showing the interior available upon request.

19. 2025-12-09
    listed $125,000 Active 1076-char remark

    Show marketing remark (1076 chars)

    Incredible flip opportunity in Lovelock with tons of upside. This two-story, over 2,000 sq. ft. home has a main level (approx. 1,522 sq. ft. ) is laid out for three spacious bedrooms, two full baths, a laundry room, and an open kitchen/dining/living area. Upstairs, the 450 sq. ft. plan features a generous primary suite with its own bath plus a bonus/flex room. Proposed floor plans are available. According to seller, there is a new roof and the exterior was prepped for T1-11 siding—matching the remodeled home next door—and the fully fenced yard includes a good-sized storage shed that could be converted into a garage. All city utilities are on site. The existing shed could be converted into a garage. Seller started project but must sell due to unexpected health issues, creating a chance for an investor or contractor to finish a project with major potential. Bring your vision and tools and turn this into a great income-producing property. To be sold "as is". Some building materials included. Video showing the interior available upon request.

20. 2022-08-25
    soldstatus $100,000

ⓘ 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: $943 · $79/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $20,587
• − Mortgage interest: −$5,574
• − Property taxes: −$943
• − Insurance: −$498
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$2,895
• Taxable income: $7,384
• Est. tax owed @ 24.0%: −$1,772
• After-tax cash flow: $6,789/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: Pershing County School District
• NCES district ID: 3200420
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $49,880
• Composite: 22.82/100
• National rank: #8019
• State rank: #15 of 17 in NV

Livability — Lovelock

• Score: 72/100
• State rank: #20
• US rank: #6299

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lovelock, NV
• Population (ZIP): 5,043

Population outlook (Pershing County) Hauer SSP2

• Today (2025): 6,466 people
• By 2030: 6,411 · -0.9%
• By 2040: 6,436 · -0.5%
• By 2050: 6,447 · -0.3%
• By 2075: 6,121 · -5.3%
• By 2100: 5,151 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 24% Two or more races 13% Black 5% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Russian 3% Lithuanian 2% Hungarian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 17% Chinese 1%

Political lean MEDSL · Pershing

• 2024 margin: Solid R (+54.9) · D 21.5% · R 76.4% · Other 2.1%
• 2008→2024 swing: -32.6pp toward R · 2008: -22.3pp · 2024: -54.9pp
• All cycles: 2024: R+54.9 2020: R+51.0 2016: R+49.1 2012: R+28.4 2008: R+22.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.46%
• Current HPI: 339.1754
• Rent YoY: —
• Metro: —
• 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

-0.5% since first listed

5 events — show timeline

• 2026-05-03 Price Changed $99,500 NNRMLS
• 2026-01-25 Price Changed $110,000 NNRMLS
• 2026-01-06 Price Changed $120,000 NNRMLS
• 2025-12-09 Listed $125,000 NNRMLS
• 2022-08-25 Sold (Public Records) $100,000 Public Records

Property tax history

-4.3%/yr

Latest (2024): $943 · -30.8% YoY. Source: county tax records.