615 Grinnel Ave

Lovelock, NV 89419

$99,500B-

4 bd · 1.0 ba · 4,972 sqft · Built 1935 · SingleFamily · Active · 192 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,716/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $713/mo
• Annual: $8,562/yr
• Cap rate: 14.90%
• Cash-on-cash: 30.73%
• DSCR: 2.37
• 1% rule: 1.72%
• Cash to close: $27,860

Investor read

• This is a 4-bed/1.0-bath single-family listed at $100k.
• 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).
• It's been on market 192 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• 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.
• 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: amenities F, commute F, employment 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.
• Zoned schools: Lovelock Elementary School (math 17% / reading 32%, grade F, #237 of 402 statewide, top 63%, 314 students, 100% FRL); Pershing County Middle School (math 17% / reading 37%, grade F, #55 of 109 statewide, top 54%, 148 students, 58% FRL); Pershing County High School (math 15% / reading 44%, grade F, #66 of 131 statewide, top 50%, 183 students, 46% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 120 active listings in the ZIP.
• 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.

Questions for listing agent

• 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?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.