493 Mckellar Cir · Paradise, NV 89119

$788,000

8 bd · 4.0 ba · 2,924 sqft · MultiFamily public records · 255 Days on market

Built 1963 4,792 sqft lot

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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 +28.2/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Prime investment opportunity: This standout 4-plex offers no HOA fees and has a proven five-year track record as a successful 31+ day Airbnb rental. Unit #1 and Unit #2 rents for $1500 with a 6-month contract. Unit#3 rents for $1820, #4 rents for $1,740 with Airbnb. Fully remodeled and each of the four spacious 2-bedroom, 1-bath units features modern finishes, in-unit laundry with washer and dryer, upgraded kitchens with granite countertops and dishwashers, and all furnishings and TVs included. Designed to attract today’s Airbnb guests, this turnkey property offers immediate income and exceptional long-term investment growth potential.

Key facts

• Long-term airbnb
• Fully remodeled
• Turnkey property

Tags

• NO HOA FEES
• LONG-TERM AIRBNB
• FULLY REMODELED
• IN-UNIT LAUNDRY
• UPGRADED KITCHENS
• TURNKEY PROPERTY

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $788k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $623/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $788k).
• Recommended offer: $693k (12.0% 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 soft (-1.8%/yr); 199 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $8,990/mo this rent would consume 230% of the median local household income ($47k/yr) (locally 4678% 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 $5k of loan paydown is wiped out by about $24k 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 255 days — a 12% lower offer ($693k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $61k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $347k; list at $788k implies a 127% gain — meaningful room to come down on a strong offer.

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 $693,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.14% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $4,428
• Equity at exit: $117,493

10-year hold

• IRR: 7.2%
• Equity multiple: 1.48×
• Total profit: $105,034
• Equity at exit: $68,132

Cash invested: $220,640 (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 89119

• Rents YoY: -1.8%
• Active inventory: 199
• Price-to-rent: 29.2×

Monthly cashflow live

• Estimated rent: $8,990 high
• Mortgage (P&I): −$4,132
• Tax from tax record: −$147 /mo · $1,769/yr
• Insurance: −$328
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,888
• Net cashflow: $2,494

Break-even live

Break-even rent $5,833

Max offer price $788,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,992
Total (4 units)			$8,990

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: $197,000
• Closing costs: $23,640
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $788,000 Active 255 DOM
2. 2026-06-17
   days on market $788,000 Active 254 DOM
3. 2026-06-16
   days on market $788,000 Active 253 DOM
4. 2026-06-15
   days on market $788,000 Active 252 DOM
5. 2026-06-13
   days on market $788,000 Active 250 DOM
6. 2026-06-09
   days on market $788,000 Active 246 DOM
7. 2026-06-08
   days on market $788,000 Active 245 DOM
8. 2026-06-08
   days on market $788,000 Active 244 DOM
9. 2026-06-03
   days on market $788,000 Active 240 DOM
10. 2026-06-02
    days on market $788,000 Active 239 DOM
11. 2026-06-01
    days on market $788,000 Active 238 DOM
12. 2026-05-31
    days on market $788,000 Active 237 DOM
13. 2026-02-23
    price $788,000 649-char remark

    Show marketing remark (649 chars)

    Prime investment opportunity: This standout 4-plex offers no HOA fees and has a proven five-year track record as a successful 31+ day Airbnb rental. Unit #1 and Unit #2 rents for $1500 with a 6-month contract. Unit#3 rents for $1820, #4 rents for $1,740 with Airbnb. Fully remodeled and each of the four spacious 2-bedroom, 1-bath units features modern finishes, in-unit laundry with washer and dryer, upgraded kitchens with granite countertops and dishwashers, and all furnishings and TVs included. Designed to attract today’s Airbnb guests, this turnkey property offers immediate income and exceptional long-term investment growth potential.

14. 2026-01-22
    price $829,000 649-char remark

    Show marketing remark (649 chars)

    Prime investment opportunity: This standout 4-plex offers no HOA fees and has a proven five-year track record as a successful 31+ day Airbnb rental. Unit #1 and Unit #2 rents for $1500 with a 6-month contract. Unit#3 rents for $1820, #4 rents for $1,740 with Airbnb. Fully remodeled and each of the four spacious 2-bedroom, 1-bath units features modern finishes, in-unit laundry with washer and dryer, upgraded kitchens with granite countertops and dishwashers, and all furnishings and TVs included. Designed to attract today’s Airbnb guests, this turnkey property offers immediate income and exceptional long-term investment growth potential.

15. 2025-12-10
    status Active 649-char remark

    Show marketing remark (649 chars)

    Prime investment opportunity: This standout 4-plex offers no HOA fees and has a proven five-year track record as a successful 31+ day Airbnb rental. Unit #1 and Unit #2 rents for $1500 with a 6-month contract. Unit#3 rents for $1820, #4 rents for $1,740 with Airbnb. Fully remodeled and each of the four spacious 2-bedroom, 1-bath units features modern finishes, in-unit laundry with washer and dryer, upgraded kitchens with granite countertops and dishwashers, and all furnishings and TVs included. Designed to attract today’s Airbnb guests, this turnkey property offers immediate income and exceptional long-term investment growth potential.

16. 2025-10-29
    status Pending 649-char remark

    Show marketing remark (649 chars)

    Prime investment opportunity: This standout 4-plex offers no HOA fees and has a proven five-year track record as a successful 31+ day Airbnb rental. Unit #1 and Unit #2 rents for $1500 with a 6-month contract. Unit#3 rents for $1820, #4 rents for $1,740 with Airbnb. Fully remodeled and each of the four spacious 2-bedroom, 1-bath units features modern finishes, in-unit laundry with washer and dryer, upgraded kitchens with granite countertops and dishwashers, and all furnishings and TVs included. Designed to attract today’s Airbnb guests, this turnkey property offers immediate income and exceptional long-term investment growth potential.

17. 2025-08-25
    listed $849,000 Active 649-char remark

    Show marketing remark (649 chars)

    Prime investment opportunity: This standout 4-plex offers no HOA fees and has a proven five-year track record as a successful 31+ day Airbnb rental. Unit #1 and Unit #2 rents for $1500 with a 6-month contract. Unit#3 rents for $1820, #4 rents for $1,740 with Airbnb. Fully remodeled and each of the four spacious 2-bedroom, 1-bath units features modern finishes, in-unit laundry with washer and dryer, upgraded kitchens with granite countertops and dishwashers, and all furnishings and TVs included. Designed to attract today’s Airbnb guests, this turnkey property offers immediate income and exceptional long-term investment growth potential.

18. 2020-01-07
    soldstatus $346,800 Sold 158-char remark

    Show marketing remark (158 chars)

    All units rented , good for investment, convenience location, near collage & strip. New AC in all units. All kitchens had been upgrade with 3 years ago.

19. 2020-01-07
    soldstatus $346,800

    Show marketing remark (158 chars)

    All units rented , good for investment, convenience location, near collage & strip. New AC in all units. All kitchens had been upgrade with 3 years ago.

20. 2019-10-23
    status Pending 158-char remark

    Show marketing remark (158 chars)

    All units rented , good for investment, convenience location, near collage & strip. New AC in all units. All kitchens had been upgrade with 3 years ago.

21. 2019-09-18
    listed $340,000 Active 158-char remark

    Show marketing remark (158 chars)

    All units rented , good for investment, convenience location, near collage & strip. New AC in all units. All kitchens had been upgrade with 3 years ago.

22. 2016-03-15
    soldstatus $184,000
23. 2011-09-09
    soldstatus $128,000 Sold
24. 2011-09-09
    soldstatus $128,000
25. 2011-09-08
    status Pending
26. 2011-07-21
    price $132,500
27. 2011-05-18
    listed $134,900 Exclusive Right
28. 2011-02-15
    soldstatus $2,000,000
29. 2004-08-06
    soldstatus $329,000
30. 2003-05-08
    soldstatus $221,500
31. 2000-11-20
    soldstatus $185,000
32. 1998-01-02
    soldstatus $151,500
33. 1997-03-26
    soldstatus $133,000

ⓘ 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: $1,769 · $147/mo
• Projected year-2 tax: $4,649 · $387/mo
• Expected delta: +$2,880/yr (+$240/mo · 162.8%)

ⓘ 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 (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: $107,880
• − Mortgage interest: −$44,140
• − Property taxes: −$1,769
• − Insurance: −$3,940
• − Repairs & maintenance: −$8,630
• − Management: −$8,630
• − Depreciation: −$22,924
• Taxable income: $17,846
• Est. tax owed @ 24.0%: −$4,283
• After-tax cash flow: $25,645/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: 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): 50,196
• Household income: $46,960
• Rent vs Own: 77.2% rent · 22.8% own
• Severe rent burden: 4678.0

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 0.74)
• Race & ethnicity: Hispanic / Latino 38% White 29% Two or more races 18% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1% Cuban 4%
• Common ancestry: Romanian 2% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 29% Tagalog/Filipino 6% Other Indo-European 3%

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: ▼ -221.72%
• Current HPI: 266.4892
• Rent YoY: ▼ -1.81%
• 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

+492.5% since first listed

21 events — show timeline

• 2026-02-23 Price Changed $788,000 GLVAR
• 2026-01-22 Price Changed $829,000 GLVAR
• 2025-12-10 Relisted — GLVAR
• 2025-10-29 Pending — GLVAR
• 2025-08-25 Listed $849,000 GLVAR
• 2020-01-07 Sold (Public Records) $346,800 Public Records
• 2020-01-07 Sold (MLS) $346,800 GLVAR
• 2019-10-23 Pending — GLVAR
• 2019-09-18 Listed $340,000 GLVAR
• 2016-03-15 Sold (Public Records) $184,000 Public Records
• 2011-09-09 Sold (Public Records) $128,000 Public Records
• 2011-09-09 Sold (MLS) $128,000 GLVAR
• 2011-09-08 Pending — GLVAR
• 2011-07-21 Price Changed $132,500 GLVAR
• 2011-05-18 Listed $134,900 GLVAR
• 2011-02-15 Sold (Public Records) $2,000,000 Public Records
• 2004-08-06 Sold (Public Records) $329,000 Public Records
• 2003-05-08 Sold (Public Records) $221,500 Public Records
• 2000-11-20 Sold (Public Records) $185,000 Public Records
• 1998-01-02 Sold (Public Records) $151,500 Public Records
• 1997-03-26 Sold (Public Records) $133,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,769 · +7.8% YoY. Source: county tax records.