11609 Sugarloaf Peak Ct

Spanish Springs, NV 89441

$906,340F

3 bd · 3.5 ba · 2,811 sqft · Built 2026 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,900/mo
• Mortgage (P&I): −$4,753
• Tax + insurance: −$1,511
• HOA: −$31
• Vac / Maint / Mgmt: −$1,659
• Net cashflow: $-54/mo
• Annual: $-642/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $253,775

Investor read

• This is a 3-bed/3.5-bath single-family listed at $906k.
• At list price, monthly cash flow is $-54 ($-642/yr) — negative.
• To cash-flow at today's rent, offer at most $899k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $790k (12.8% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $790k (12.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• 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: 143 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).
• Washoe County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.2% vs local median 3.2% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.