17 Second St

McGill, NV 89318

$149,000C-

3 bd · 2.0 ba · 1,176 sqft · Built 1930 · SingleFamily · Active · 339 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,476/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$310
• Net cashflow: $255/mo
• Annual: $3,057/yr
• Cap rate: 8.34%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• 1% rule: 0.99%
• Cash to close: $41,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $255 ($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 $148k (0.9% below list).
• It's been on market 339 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.8% local appreciation)).
• Location reads 63/100 on livability (#55 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• White Pine County School District (town): math 22% / reading 33% proficiency, ranked #13 of 17 in NV (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mcgill Elementary (math 15% / reading 15%, grade F, #338 of 402 statewide, top 85%, 119 students, 100% FRL); White Pine Middle School (math 25% / reading 40%, grade F, #39 of 109 statewide, top 35%, 245 students, 100% FRL); White Pine High School (math 22% / reading 42%, grade F, #56 of 131 statewide, top 45%, 379 students, 100% FRL) — zoned schools average 100% FRL vs 34% district-wide (66 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 10 units permitted in White Pine County in 2024 (0 in 5+ unit buildings).
• White Pine County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; list at $149k implies a 104% gain — meaningful room to come down on a strong offer.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 339 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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?
• 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?
• 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.
• 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.