5245 Golden Ln

Paradise, NV 89119

$586,000C

9 bd · 8.0 ba · 3,844 sqft · Built 1977 · MultiFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,060/mo
• Mortgage (P&I): −$3,073
• Tax + insurance: −$977
• HOA: −$0
• Vac / Maint / Mgmt: −$1,273
• Net cashflow: $738/mo
• Annual: $8,852/yr
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $164,080

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $586k. Condition is rated fair.
• At list price, monthly cash flow is $738 ($9k/yr) — positive. Per door: $184/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $586k).
• It's been on market 101 days — a 9% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $533k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• 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: Ward Gene Es (math 6% / reading 17%, grade F, #378 of 402 statewide, top 95%, 612 students, 100% FRL); Cannon Helen C Jhs (math 8% / reading 26%, grade F, #87 of 109 statewide, top 82%, 746 students, 100% FRL); Del Sol Academy of Performing Arts Hs (math 10% / reading 33%, grade F, #91 of 131 statewide, top 70%, 2,511 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 17% at this address vs 30% district-wide (-13 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); 262 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 3.5% in Paradise — 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.
• This rent per unit runs 39% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1977 — 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 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?

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — dated and worn
• Major: kitchen countertops — dated and worn
• Major: kitchen appliances — dated and worn
• Major: bathroom fixtures — dated and worn
• Major: bathroom tile — dated and worn