370 Randon Ct · Fernley, NV 89408

$250,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 95 Days on market

Built 1983 3,920 sqft lot $200/sqft · at area comps Est $245k · at est.

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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 +16.4/30.0
• ARV discount +6.6/15.0
• DSCR +5.1/10.0
• Rent growth +4.1/5.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great price for a fixer upper. Owner is selling "as is". Vacant and ready to show.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1983

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/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 $204k (18.5% below list).
• Recommended offer: $204k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.4% in Fernley — 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 (#31 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B; Watch: crime C-, schools D, amenities F.
• Lyon County School District (town): math 21% / reading 35% proficiency, ranked #14 of 17 in NV (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.4%/yr); 128 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 297 units permitted in Lyon County in 2024 (80 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Lyon County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y 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 $208k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,719 (18.5% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 19% 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 D-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. 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?
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: 0.81% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 10.2

CMA / ARV

• ARV (median comp): $244,924
• List price: $250,000
• Delta: 2.07%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1025 Villa Way	0.08mi	3/2.0	1,288 (+3%)	5mo	$259,900	$202	87
250 Parkland Way	0.10mi	3/2.0	1,248 (0%)	23mo	$269,900	$216	76
325 Parkland Way	0.03mi	2/2.0 (-1)	1,148 (-8%)	6mo	$225,000	$196	75

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.43% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.65×
• Total profit: $-24,321
• Equity at exit: $37,276

10-year hold

• IRR: 3.8%
• Equity multiple: 1.31×
• Total profit: $21,971
• Equity at exit: $21,615

Cash invested: $70,000 (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 89408

• Rents YoY: 6.4%
• Active inventory: 128
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,037 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$52 /mo · $626/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $142

Break-even live

Break-even rent $1,857

Max offer price $250,000

Occupancy floor 88%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
162 Prairie Ln Fernley, NV	3.0	2.0	1241	$2,250	$1.81	43d	1	0.43mi
645 Silverlace Blvd Fernley, NV	1.0–3.0	1.0–2.0	887	$1,482	$1.67	43d	1	0.65mi
665 Starlite Dr Unit A Fernley, NV	2.0	1.5	1150	$1,550	$1.35	13d	1	1.18mi

Listing history 17 events

1. 2026-05-15
   status Active 92-char remark

   Show marketing remark (92 chars)

   Great price for a fixer upper. Owner is selling "as is". Vacant and ready to show.

2. 2026-04-15
   historical Active Under Contract-Show 92-char remark

   Show marketing remark (92 chars)

   Great price for a fixer upper. Owner is selling "as is". Vacant and ready to show.

3. 2026-02-20
   listed $250,000 Active 92-char remark

   Show marketing remark (92 chars)

   Great price for a fixer upper. Owner is selling "as is". Vacant and ready to show.

4. 2024-10-06
   historical $1,600
5. 2024-09-19
   listed $1,600
6. 2023-12-04
   historical $1,600
7. 2023-10-15
   listed $1,600
8. 2021-12-23
   soldstatus $208,000 Sold 706-char remark

   Show marketing remark (706 chars)

   Ready for new owners! Comfortable home in Fernley features an open floorplan with high ceilings and lots of windows for natural light. The breakfast bar borders the living room and is perfect for casual dining or conversation with friends. Recent upgrades include a new shower stall in the master bedroom, fresh interior paint and new carpet throughout. Private backyard offers space for a garden with a storage shed included for tools and supplies. Refrigerator, washer and dryer are included. , An extended carport provides covered parking to keep your cars out of the weather. Home is set in a cul-de-sac and offers easy access to the freeway and shopping/restaurants. Call today for a personal tour!

9. 2021-12-23
   soldstatus $208,000

   Show marketing remark (706 chars)

   Ready for new owners! Comfortable home in Fernley features an open floorplan with high ceilings and lots of windows for natural light. The breakfast bar borders the living room and is perfect for casual dining or conversation with friends. Recent upgrades include a new shower stall in the master bedroom, fresh interior paint and new carpet throughout. Private backyard offers space for a garden with a storage shed included for tools and supplies. Refrigerator, washer and dryer are included. , An extended carport provides covered parking to keep your cars out of the weather. Home is set in a cul-de-sac and offers easy access to the freeway and shopping/restaurants. Call today for a personal tour!

10. 2021-11-22
    historical Under Contract-Show 706-char remark

    Show marketing remark (706 chars)

    Ready for new owners! Comfortable home in Fernley features an open floorplan with high ceilings and lots of windows for natural light. The breakfast bar borders the living room and is perfect for casual dining or conversation with friends. Recent upgrades include a new shower stall in the master bedroom, fresh interior paint and new carpet throughout. Private backyard offers space for a garden with a storage shed included for tools and supplies. Refrigerator, washer and dryer are included. , An extended carport provides covered parking to keep your cars out of the weather. Home is set in a cul-de-sac and offers easy access to the freeway and shopping/restaurants. Call today for a personal tour!

11. 2021-11-05
    status Active - Back on Market 706-char remark

    Show marketing remark (706 chars)

    Ready for new owners! Comfortable home in Fernley features an open floorplan with high ceilings and lots of windows for natural light. The breakfast bar borders the living room and is perfect for casual dining or conversation with friends. Recent upgrades include a new shower stall in the master bedroom, fresh interior paint and new carpet throughout. Private backyard offers space for a garden with a storage shed included for tools and supplies. Refrigerator, washer and dryer are included. , An extended carport provides covered parking to keep your cars out of the weather. Home is set in a cul-de-sac and offers easy access to the freeway and shopping/restaurants. Call today for a personal tour!

12. 2021-10-24
    status Under Contract-No Show 706-char remark

    Show marketing remark (706 chars)

    Ready for new owners! Comfortable home in Fernley features an open floorplan with high ceilings and lots of windows for natural light. The breakfast bar borders the living room and is perfect for casual dining or conversation with friends. Recent upgrades include a new shower stall in the master bedroom, fresh interior paint and new carpet throughout. Private backyard offers space for a garden with a storage shed included for tools and supplies. Refrigerator, washer and dryer are included. , An extended carport provides covered parking to keep your cars out of the weather. Home is set in a cul-de-sac and offers easy access to the freeway and shopping/restaurants. Call today for a personal tour!

13. 2021-10-20
    listed $235,000 Active - New 706-char remark

    Show marketing remark (706 chars)

    Ready for new owners! Comfortable home in Fernley features an open floorplan with high ceilings and lots of windows for natural light. The breakfast bar borders the living room and is perfect for casual dining or conversation with friends. Recent upgrades include a new shower stall in the master bedroom, fresh interior paint and new carpet throughout. Private backyard offers space for a garden with a storage shed included for tools and supplies. Refrigerator, washer and dryer are included. , An extended carport provides covered parking to keep your cars out of the weather. Home is set in a cul-de-sac and offers easy access to the freeway and shopping/restaurants. Call today for a personal tour!

14. 2000-07-20
    soldstatus $65,200
15. 1999-10-11
    listed $65,700
16. 1999-08-01
    historical
17. 1999-05-01
    listed $75,800

ⓘ 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: $626 · $52/mo
• Projected year-2 tax: $1,475 · $123/mo
• Expected delta: +$849/yr (+$71/mo · 135.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 16 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,446
• − Mortgage interest: −$14,004
• − Property taxes: −$626
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,956
• − Management: −$1,956
• − Depreciation: −$7,273
• Taxable loss: −$2,617
• Est. tax savings @ 24.0%: +$628
• After-tax cash flow: $2,333/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: Lyon County School District
• NCES district ID: 3200300
• Math proficiency: 21% ▼ -11.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $48,197
• Composite: 24.32/100
• National rank: #7707
• State rank: #14 of 17 in NV

Livability — Fernley

• Score: 68/100
• State rank: #31
• US rank: #9434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fernley, NV
• County: Lyon County · 24,564 people
• City population: 24,564
• Metro: Fernley, NV
• Population (ZIP): 24,564
• Household income: $89,552
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 474.0

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 51,655 people
• By 2030: 50,194 · -2.8%
• By 2040: 46,155 · -10.6%
• By 2050: 41,580 · -19.5%
• By 2075: 32,687 · -36.7%
• By 2100: 24,111 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 19% Two or more races 13% Asian 2% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 6% Serbian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 86% English-only · Spanish 12% Other Indo-European 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+44.4) · D 26.7% · R 71.1% · Other 2.2%
• 2008→2024 swing: -26.5pp toward R · 2008: -17.9pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+41.1 2016: R+41.5 2012: R+28.6 2008: R+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.96%
• Current HPI: 220.9943
• Rent YoY: ▲ 6.43%
• Metro: Fernley, 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

+229.8% since first listed

17 events — show timeline

• 2026-05-15 Relisted — NNRMLS
• 2026-04-15 Contingent — NNRMLS
• 2026-02-20 Listed $250,000 NNRMLS
• 2024-10-06 Rental Removed $1,600 APPFOLIO
• 2024-09-19 Listed for Rent $1,600 APPFOLIO
• 2023-12-04 Rental Removed $1,600 APPFOLIO
• 2023-10-15 Listed for Rent $1,600 APPFOLIO
• 2021-12-23 Sold (Public Records) $208,000 Public Records
• 2021-12-23 Sold (MLS) $208,000 NNRMLS
• 2021-11-22 Contingent — NNRMLS
• 2021-11-05 Relisted — NNRMLS
• 2021-10-24 Pending — NNRMLS
• 2021-10-20 Listed $235,000 NNRMLS
• 2000-07-20 Sold (MLS) $65,200 NNRMLS
• 1999-10-11 Listed $65,700 NNRMLS
• 1999-08-01 Listing Removed — NNRMLS
• 1999-05-01 Listed $75,800 NNRMLS

Property tax history

-1.6%/yr

Latest (2025): $626 · -36.7% YoY. Source: county tax records.