1891 Vondell Dr · Pahrump, NV 89048

$385,000

3 bd · 3.0 ba · 2,267 sqft · MultiFamily public records · 67 Days on market

Built 2000 0.90 ac lot $170/sqft · 7% above area Est $360k · 7% over ↓ 3% since listing

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Why this score? — see what drove the D 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 +17.3/30.0
• DSCR +5.4/10.0
• ARV discount +4.4/15.0
• 1% rule +3.6/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to this beautifully designed custom home nestled in the peaceful desert landscape of Pahrump. This 3-bedroom, 3-bathroom property offers the perfect blend of comfort, style, and functionality. Featuring an oversized living room, high ceilings, and elegant finishes throughout. Kitchen offers custom cabinets and an oversized butler pantry. This user-friendly kitchen boasts tile countertops, perfect for gatherings. The primary suite includes a walk-in closet and a luxurious ensuite bathroom with dual vanities and a walk-in shower. Step outside to the front and backyard oasis with a covered patio and mature trees ideal for relaxing evenings and desert sunsets. The property also includes a 2-car garage and RV parking.

Key facts

• Walk-in closet
• Custom home
• Covered patio

Tags

• CUSTOM HOME
• OVERSIZED LIVING ROOM
• BUTLER PANTRY
• WALK-IN CLOSET
• ENSUITE BATHROOM
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (14.3% below list).
• Recommended offer: $330k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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, crime F, amenities 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.
• Zoned schools: J G Johnson Elementary School (math 12% / reading 27%, grade F, #290 of 402 statewide, top 75%, 518 students, 100% FRL); Rosemary Clarke Middle School (math 20% / reading 31%, grade F, #62 of 109 statewide, top 58%, 1,060 students, 100% FRL); Pahrump Valley High School (math 14% / reading 41%, grade F, #74 of 131 statewide, top 56%, 1,362 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.7%/yr); 1116 active listings in the ZIP; 1 comparable units currently listed for rent nearby.
• At $3,299/mo this rent would consume 65% of the median local household income ($61k/yr) (locally 939% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($362k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,900 (14.3% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 14% 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. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.15%
• DSCR: 1.14
• GRM: 9.7

CMA / ARV

• ARV (median comp): $360,048
• List price: $385,000
• Delta: 6.93%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-45,431
• Equity at exit: $57,405

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-20,662
• Equity at exit: $33,288

Cash invested: $107,800 (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 89048

• Home prices YoY: -7.2%
• Rents YoY: 2.7%
• Active inventory: 1116
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,299 medium
• Mortgage (P&I): −$2,019
• Tax from tax record: −$144 /mo · $1,729/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $283

Break-even live

Break-even rent $2,941

Max offer price $385,000

Occupancy floor 86%

Sensitivity live

Price	-10% $501	-5% $392	+0% $283	+5% $174	+10% $65
Rent	-10% $22	-5% $152	+0% $283	+5% $413	+10% $543
Rate	-1.0pp $477	-0.5pp $381	base $283	+0.5pp $183	+1.0pp $81

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$3,300
Total (2 units)			$3,299

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 Hardy Ln Unit B Pahrump, NV	3.0	2.0	1696	$1,425	$0.84	45d	1	0.79mi

Listing history 15 events

1. 2026-06-19
   days on market $385,000 Active 67 DOM
2. 2026-06-18
   days on market $385,000 Active 66 DOM
3. 2026-06-17
   days on market $385,000 Active 65 DOM
4. 2026-06-16
   statusdays on market $385,000 Active 64 DOM
5. 2026-06-12
   statusdays on market $385,000 Pending 63 DOM
6. 2026-06-09
   days on market $385,000 Active 61 DOM
7. 2026-06-08
   days on market $385,000 Active 60 DOM
8. 2026-06-07
   pricedays on market $385,000 Active 59 DOM
9. 2026-06-03
   days on market $365,000 Active 55 DOM
10. 2026-06-02
    days on market $365,000 Active 54 DOM
11. 2026-06-01
    days on market $365,000 Active 53 DOM
12. 2026-05-31
    days on market $365,000 Active 52 DOM
13. 2026-05-30
    days on market $365,000 Active 51 DOM
14. 2026-05-07
    price $365,000 730-char remark

    Show marketing remark (730 chars)

    Welcome to this beautifully designed custom home nestled in the peaceful desert landscape of Pahrump. This 3-bedroom, 3-bathroom property offers the perfect blend of comfort, style, and functionality. Featuring an oversized living room, high ceilings, and elegant finishes throughout. Kitchen offers custom cabinets and an oversized butler pantry. This user-friendly kitchen boasts tile countertops, perfect for gatherings. The primary suite includes a walk-in closet and a luxurious ensuite bathroom with dual vanities and a walk-in shower. Step outside to the front and backyard oasis with a covered patio and mature trees ideal for relaxing evenings and desert sunsets. The property also includes a 2-car garage and RV parking.

15. 2026-04-09
    listed $375,000 Active 730-char remark

    Show marketing remark (730 chars)

    Welcome to this beautifully designed custom home nestled in the peaceful desert landscape of Pahrump. This 3-bedroom, 3-bathroom property offers the perfect blend of comfort, style, and functionality. Featuring an oversized living room, high ceilings, and elegant finishes throughout. Kitchen offers custom cabinets and an oversized butler pantry. This user-friendly kitchen boasts tile countertops, perfect for gatherings. The primary suite includes a walk-in closet and a luxurious ensuite bathroom with dual vanities and a walk-in shower. Step outside to the front and backyard oasis with a covered patio and mature trees ideal for relaxing evenings and desert sunsets. The property also includes a 2-car garage and RV parking.

ⓘ 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: $1,729 · $144/mo
• Projected year-2 tax: $2,272 · $189/mo
• Expected delta: +$542/yr (+$45/mo · 31.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 18 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: $39,588
• − Mortgage interest: −$21,566
• − Property taxes: −$1,729
• − Insurance: −$1,925
• − Repairs & maintenance: −$3,167
• − Management: −$3,167
• − Depreciation: −$11,200
• Taxable loss: −$3,166
• Est. tax savings @ 24.0%: +$760
• After-tax cash flow: $4,152/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): 26,486
• Household income: $61,367
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 939.0

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 13% Two or more races 12% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% Tagalog/Filipino 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: ▼ -21.52%
• Current HPI: 277.4486
• Rent YoY: ▲ 2.73%
• 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

-2.7% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $365,000 GLVAR
• 2026-04-09 Listed $375,000 GLVAR

Property tax history

-0.7%/yr

Latest (2025): $1,729 · +4.4% YoY. Source: county tax records.