2831 W Irene St · Pahrump, NV 89060

$160,000

3 bd · 2.0 ba · 1,128 sqft · Other public records · 101 Days on market

Built 1985 1.06 ac lot $142/sqft · 29% below area Est $226k · 29% under

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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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +6.2/10.0
• Livability +3.4/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Investment opportunity! 3 bed, 2 bath home with 1,128 sq ft on a fully fenced 1-acre lot. Currently tenant-occupied on a month-to-month lease, offering immediate rental income and flexibility for future plans.

Key facts

• 1.06 acre lot
• 2 parking spots
• Built 1985

🏷️ Possibly a rental listed for sale. The $160,000 price doesn't fit this home's estimated sale value (~$225,817) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $160k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.4% in Pahrump — 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.

Location & tenants

• Location reads 68/100 on livability (#30 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, crime F.
• Nye County School District (rural): math 20% / reading 33% proficiency, ranked #16 of 17 in NV (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 655 active listings in the ZIP.
• This rent runs 43% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Nye County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $120k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,600 (9.0% below list)

Questions for the listing agent

1. 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?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 F 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 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: 1.12% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.32%
• DSCR: 1.55
• GRM: 7.5

CMA / ARV

• ARV (median comp): $225,817
• List price: $160,000
• Delta: -29.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $3,304
• Equity at exit: $23,857

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $40,331
• Equity at exit: $13,834

Cash invested: $44,800 (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 89060

• Home prices YoY: -1.6%
• Active inventory: 655
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,789 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$48 /mo · $573/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $460

Break-even live

Break-even rent $1,207

Max offer price $160,000

Occupancy floor 69%

Sensitivity live

Price	-10% $551	-5% $505	+0% $460	+5% $415	+10% $369
Rent	-10% $319	-5% $389	+0% $460	+5% $531	+10% $601
Rate	-1.0pp $541	-0.5pp $501	base $460	+0.5pp $419	+1.0pp $376

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $160,000 Active 101 DOM
2. 2026-06-18
   days on market $160,000 Active 100 DOM
3. 2026-06-17
   days on market $160,000 Active 99 DOM
4. 2026-06-16
   days on market $160,000 Active 98 DOM
5. 2026-06-15
   days on market $160,000 Active 97 DOM
6. 2026-06-14
   days on market $160,000 Active 95 DOM
7. 2026-06-12
   days on market $160,000 Active 94 DOM
8. 2026-06-09
   days on market $160,000 Active 91 DOM
9. 2026-06-08
   days on market $160,000 Active 90 DOM
10. 2026-06-07
    days on market $160,000 Active 89 DOM
11. 2026-06-03
    days on market $160,000 Active 85 DOM
12. 2026-06-02
    days on market $160,000 Active 84 DOM
13. 2026-06-01
    days on market $160,000 Active 83 DOM
14. 2026-05-31
    days on market $160,000 Active 82 DOM
15. 2026-05-30
    days on market $160,000 Active 81 DOM
16. 2026-03-10
    listed $160,000 Active 209-char remark

    Show marketing remark (209 chars)

    Investment opportunity! 3 bed, 2 bath home with 1,128 sq ft on a fully fenced 1-acre lot. Currently tenant-occupied on a month-to-month lease, offering immediate rental income and flexibility for future plans.

17. 2007-01-10
    soldstatus $120,000
18. 2007-01-09
    soldstatus $120,000 186-char remark

    Show marketing remark (186 chars)

    Nice older manufactured home in good condition. Large living room, separate dining area and laundry room. Split floorplan. Storage shed in back and additional storage on well pump house.

19. 2006-08-04
    listed $134,000 186-char remark

    Show marketing remark (186 chars)

    Nice older manufactured home in good condition. Large living room, separate dining area and laundry room. Split floorplan. Storage shed in back and additional storage on well pump house.

ⓘ 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: $573 · $48/mo
• Projected year-2 tax: $944 · $79/mo
• Expected delta: +$371/yr (+$31/mo · 64.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,470
• − Mortgage interest: −$8,962
• − Property taxes: −$573
• − Insurance: −$800
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$4,655
• Taxable income: $3,045
• Est. tax owed @ 24.0%: −$731
• After-tax cash flow: $4,789/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: Nye County School District
• NCES district ID: 3200360
• Math proficiency: 20% ▼ -6.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $41,447
• Composite: 22.43/100
• National rank: #8110
• State rank: #16 of 17 in NV

Livability — Pahrump

• Score: 68/100
• State rank: #30
• US rank: #9226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pahrump, NV
• County: Nye County · 47,491 people
• City population: 47,491
• Metro: Pahrump, NV
• Population (ZIP): 12,864
• Household income: $50,000
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 170.0

Population outlook (Nye County) Hauer SSP2

• Today (2025): 40,727 people
• By 2030: 38,812 · -4.7%
• By 2040: 33,952 · -16.6%
• By 2050: 29,393 · -27.8%
• By 2075: 21,122 · -48.1%
• By 2100: 14,400 · -64.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 20% Two or more races 12% Asian 2% Black 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Iranian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 85% English-only · Spanish 12% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Nye

• 2024 margin: Solid R (+42.2) · D 28.0% · R 70.2% · Other 1.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.4 2016: R+42.0 2012: R+24.2 2008: R+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.93%
• Current HPI: 312.3758
• Rent YoY: —
• Metro: Pahrump, 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

+19.4% since first listed

4 events — show timeline

• 2026-03-10 Listed $160,000 GLVAR
• 2007-01-10 Sold (Public Records) $120,000 Public Records
• 2007-01-09 Sold (MLS) $120,000 GLVAR
• 2006-08-04 Listed $134,000 GLVAR

Property tax history

+0.2%/yr

Latest (2025): $573 · +3.7% YoY. Source: county tax records.