2000 Fashion Show Dr · Paradise, NV 89109

$325,500

1 bd · 1.0 ba · 533 sqft · MultiFamily · 37 Days on market

Built 2006 Fair condition

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Why this score? — see what drove the C 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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Appreciation +3.9/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.2/5.0
• Rent growth +1.7/5.0

Multi-family units

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

Listing remarks

High floor, best view of Strip (South view). This unit is for owner occupancy, 2 queen bed layout great for having visitors. Priced to sell!

Key facts

• Built 2006
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $326k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $326k).
• Recommended offer: $316k (3.0% below list) — sets the bar for market timing.

Location & tenants

• 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+, schools F, 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.
• Market conditions: Rents falling (-3.2%/yr); 349 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $3,532/mo this rent would consume 79% of the median local household income ($54k/yr) (locally 836% 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 (-2.2%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,735 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 D 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 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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.22% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.80×
• Total profit: $-17,918
• Equity at exit: $59,894

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,620
• Equity at exit: $48,052

Cash invested: $91,140 (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 89109

• Home prices YoY: -1.2%
• Rents YoY: -3.2%
• Active inventory: 349
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,532 medium
• Mortgage (P&I): −$1,707
• Tax est. 1.5%: −$407 /mo · $4,882/yr
• Insurance: −$136
• HOA: −$0
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $541

Break-even live

Break-even rent $2,847

Max offer price $325,500

Occupancy floor 80%

Sensitivity live

Price	-10% $766	-5% $653	+0% $541	+5% $428	+10% $316
Rent	-10% $262	-5% $401	+0% $541	+5% $680	+10% $820
Rate	-1.0pp $705	-0.5pp $624	base $541	+0.5pp $456	+1.0pp $371

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,532
Total (2 units)			$3,532

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: $81,375
• Closing costs: $9,765
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Fashion Show Dr Unit 1501424P Las Vegas, NV	1.0	1.0	592	$5,942	$10.04	2d	1	0.06mi
3475 W Desert Inn Rd Las Vegas, NV	1.0–3.0	1.0–2.0	1105	$1,550	$1.40	5d	100	0.74mi
3150 W Twain Ave Las Vegas, NV	1.0–3.0	1.0–2.0	1039	$1,455	$1.40	2d	12	0.81mi
3463 Procyon St Las Vegas, NV	3.0	1.0–2.0	1043	$1,805	$1.73	3d	29	0.87mi
210 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	833	$1,795	$2.15	44d	6	1.05mi
230 E Flamingo Rd #335 Las Vegas, NV	1.0	1.0	727	$1,600	$2.20	44d	1	1.12mi
220 E Flamingo Rd #229 Las Vegas, NV	1.0	1.0	692	$2,195	$3.17	24d	1	1.14mi
220 E Flamingo Rd #229 Las Vegas, NV	1.0	1.0	692	$2,195	$3.17	22d	1	1.14mi
220 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	863	$1,595	$1.85	44d	7	1.15mi
3776 Howard Hughes Pkwy Las Vegas, NV	3.0	1.0–2.5	1548	$2,357	$1.52	2d	9	1.16mi
260 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	881	$1,600	$1.82	44d	4	1.18mi
3550 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	947	$1,100	$1.16	44d	20	1.19mi
270 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	877	$1,695	$1.93	44d	7	1.22mi
4080 W Twain Ave Las Vegas, NV	1.0–3.0	1.0–2.0	858	$1,281	$1.49	44d	8	1.26mi
3930 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	999	$2,241	$2.24	3d	87	1.36mi
3700 Las Vegas Blvd S #672 Las Vegas, NV	1.0	1.0	606	$2,500	$4.13	8d	1	1.37mi
2600 W Harmon Ave Unit 1376587P Las Vegas, NV	1.0	1.0	495	$9,679	$19.55	22d	1	1.45mi
2301 S Valley View Blvd Las Vegas, NV	1.0	1.0	624	$1,504	$2.41	44d	6	1.50mi
3355 Arville St Las Vegas, NV	1.0–2.0	1.0	700	$1,371	$1.96	44d	11	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $325,500 Active 37 DOM
2. 2026-06-17
   pricedays on market $325,500 Active 36 DOM
3. 2026-06-16
   days on market $333,000 Active 35 DOM
4. 2026-06-15
   days on market $333,000 Active 34 DOM
5. 2026-06-13
   days on market $333,000 Active 32 DOM
6. 2026-06-09
   days on market $333,000 Active 28 DOM
7. 2026-06-08
   days on market $333,000 Active 27 DOM
8. 2026-06-08
   days on market $333,000 Active 26 DOM
9. 2026-06-03
   days on market $333,000 Active 22 DOM
10. 2026-06-02
    days on market $333,000 Active 21 DOM
11. 2026-06-01
    days on market $333,000 Active 20 DOM
12. 2026-05-31
    days on market $333,000 Active 19 DOM
13. 2026-05-13
    price $333,000 140-char remark
14. 2026-05-12
    listed $337,000 Active 140-char remark
15. 2023-06-14
    historical
16. 2017-09-28
    historical
17. 2017-09-22
    listed $1,695,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,384
• − Mortgage interest: −$18,233
• − Property taxes: −$4,882
• − Insurance: −$1,628
• − Repairs & maintenance: −$3,391
• − Management: −$3,391
• − Depreciation: −$9,469
• Taxable income: $1,390
• Est. tax owed @ 24.0%: −$334
• After-tax cash flow: $6,156/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab

The property has a fair condition with cosmetic repairs needed on the exterior and landscaping. Painting the exterior and trimming the landscaping would significantly improve its curb appeal and value.

Repairs flagged

• Major exterior paint — Crowd-sourced image shows peeling paint on the exterior.
• Major landscaping — Crowd-sourced image shows overgrown landscaping and a lack of curb appeal.

Value-add opportunities

• Both paint exterior — Fresh paint would improve the home's curb appeal and overall condition.
• Both trim landscaping — Well-maintained landscaping would enhance the home's curb appeal and attract potential buyers/tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Crowd-sourced image shows peeling paint on the exterior.	Major	$15,000–50,000
landscaping · Crowd-sourced image shows overgrown landscaping and a lack of curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Fresh paint would improve the home's curb appeal and overall condition. ↑
• Both trim landscaping — Well-maintained landscaping would enhance the home's curb appeal and attract potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Clark County School District
• NCES district ID: 3200060
• Math proficiency: 21% ▼ -13.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $53,611
• Composite: 26.48/100
• National rank: #7211
• State rank: #11 of 17 in NV

Livability — Paradise

• Score: 76/100
• State rank: #10
• US rank: #3494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise, NV
• County: Clark County · 2,306,105 people
• City population: 227,885
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 6,504
• Household income: $53,684
• Rent vs Own: 65.3% rent · 34.7% own
• Severe rent burden: 836.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 2,504,101 people
• By 2030: 2,693,770 · +7.6%
• By 2040: 3,061,208 · +22.2%
• By 2050: 3,400,072 · +35.8%
• By 2075: 4,139,522 · +65.3%
• By 2100: 4,596,916 · +83.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 44% Black 18% Hispanic / Latino 16% Asian 14% Two or more races 12%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Lithuanian 3% Scotch-Irish 2% Romanian 2%
• Foreign-born: 23% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 9% Tagalog/Filipino 7% Chinese 2%

Political lean MEDSL · Clark

• 2024 margin: Toss-up / Even · D 50.4% · R 47.8% · Other 1.7%
• 2008→2024 swing: -16.5pp toward R · 2008: 19.1pp · 2024: 2.6pp
• All cycles: 2024: D+2.6 2020: D+9.3 2016: D+10.7 2012: D+14.5 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.22%
• Current HPI: 180.1607
• Rent YoY: ▼ -3.23%
• Metro: Las Vegas-Henderson-Paradise, 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

-80.8% since first listed

6 events — show timeline

• 2026-06-16 Price Changed $325,500 FSBO.com
• 2026-05-13 Price Changed $333,000 FSBO.com
• 2026-05-12 Listed $337,000 FSBO.com
• 2023-06-14 Rental Removed — RENT.
• 2017-09-28 Listing Removed — CRMLS
• 2017-09-22 Listed $1,695,000 CRMLS