11638 Vista Park Dr · Spanish Springs, NV 89441

$795,000

4 bd · 2.5 ba · 2,636 sqft · SingleFamily public records · 82 Days on market

Built 2020 0.33 ac lot $302/sqft · 9% below area Est $871k · 9% under $40/mo HOA · 1% of rent

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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 +11.8/30.0
• ARV discount +11.4/15.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market due to the buyer's circumstances. Home & pest inspections were completed. Welcome home to your peaceful sanctuary in the Shadow Ridge community, built by Ryder Homes. The home has a comfortable split floor plan with four bedrooms, 2.5 baths and a den space with frosted glass barn doors. Kitchen has a large island with a porcelain farmhouse sink, granite countertops and an Electrolux appliance package. Primary suite has sliding door access to the backyard patio. The ensuite has a garden tub, a large vanity with double sinks and a frameless glass shower. The convenient & spacious laundry/mud room has ample cabinet storage with a sink. The serenity continues into the private backyard with two paver patio areas and annual producing fruit trees (cherry, apple & nectarine). Continuing outside you have a finished garage with insulated garage door, RV parking with 12' steel gate and an additional man gate. Home is pre-wired for surround sound and priced to move. Come see it today!

Key facts

• Split floor plan
• Large island
• Granite countertops

Tags

• SPLIT FLOOR PLAN
• FROSTED GLASS BARN DOORS
• LARGE ISLAND
• PORCELAIN FARMHOUSE SINK
• GRANITE COUNTERTOPS
• ELECTROLUX APPLIANCE PACKAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $795k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $758k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $609k (23.4% below list).
• Recommended offer: $609k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.2% in Spanish Springs — 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 67/100 on livability (#35 in NV) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Washoe County School District (urban): math 30% / reading 44% proficiency, ranked #6 of 17 in NV (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alyce Taylor Elementary (math 54% / reading 55%, grade C, #42 of 402 statewide, top 10%, 452 students, 27% FRL); Yvonne Shaw Middle School (math 33% / reading 57%, grade D, #14 of 109 statewide, top 13%, 712 students, 20% FRL); Spanish Springs High School (math 18% / reading 41%, grade F, #67 of 131 statewide, top 53%, 2,057 students, 17% FRL) — zoned schools average 22% FRL vs 42% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 143 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).

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.
• Washoe County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($747k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $608,878 (23.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.77% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 10.9

CMA / ARV

• ARV (median comp): $870,652
• List price: $795,000
• Delta: -8.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11760 Valley Crest Dr	0.35mi	4/3.0	2,762 (+5%)	8mo	$754,000	$273	67
2330 Hickory Dr	0.43mi	4/3.0	2,458 (-7%)	2mo	$668,929	$272	65
11636 Rustic View Ave	0.14mi	4/3.5	2,953 (+12%)	8mo	$925,000	$313	62
510 La Tray Dr Unit Magnolia 83	0.61mi	4/3.0	2,729 (+4%)	2mo	$725,000	$266	62
433 Pah Rah Ridge Dr Unit Willows 110	0.54mi	3/2.5 (-1)	2,704 (+3%)	4mo	$750,000	$277	62
309 Coyote Xing	0.25mi	3/2.0 (-1)	2,343 (-11%)	2mo	$757,000	$323	62
450 Hutchinson Dr Unit Willows 105	0.55mi	3/2.5 (-1)	2,709 (+3%)	4mo	$771,990	$285	61
260 Horizon Ridge Rd	0.47mi	3/2.5 (-1)	2,556 (-3%)	8mo	$749,000	$293	61
420 Pah Rah Ridge Dr	0.50mi	4/3.5	2,930 (+11%)	3mo	$930,000	$317	51
520 La Tray Dr Unit Magnolia 82	0.61mi	3/2.5 (-1)	2,389 (-9%)	3mo	$640,000	$268	48
11565 Vinegar Peak Dr Unit Willows 118	0.64mi	4/3.5	2,933 (+11%)	3mo	$795,000	$271	45
2282 Cloud Berry Dr	0.44mi	3/2.0 (-1)	2,262 (-14%)	7mo	$615,000	$272	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-142,461
• Equity at exit: $118,537

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-142,163
• Equity at exit: $68,737

Cash invested: $222,600 (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 89441

• Home prices YoY: -18.5%
• Active inventory: 143
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $6,089 medium
• Mortgage (P&I): −$4,169
• Tax from tax record: −$481 /mo · $5,770/yr
• Insurance: −$331
• HOA: −$40
• Vacancy / Maint / Mgmt: −$1,279
• Net cashflow: $-211

Break-even live

Break-even rent $6,356

Max offer price $757,729

Occupancy floor 98%

Sensitivity live

Price	-10% $239	-5% $14	+0% $-211	+5% $-436	+10% $-661
Rent	-10% $-692	-5% $-451	+0% $-211	+5% $30	+10% $270
Rate	-1.0pp $189	-0.5pp $-9	base $-211	+0.5pp $-417	+1.0pp $-627

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Calle de la Plata Sparks, NV	3.0	2.0	2056	$7,900	$3.84	25d	1	0.37mi
325 Pah Rah Ridge Dr Sparks, NV	5.0	4.0	3493	$4,000	$1.15	15d	1	0.58mi
11680 Campo Rico Ln Sparks, NV	3.0	2.0	1902	$4,500	$2.37	45d	1	1.19mi
11680 Campo Rico Ln Sparks, NV	3.0	2.0	1902	$4,500	$2.37	25d	1	1.19mi
640 Allerton Way Sparks, NV	3.0	2.0	2200	$3,200	$1.45	15d	1	1.26mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 21 events

1. 2026-06-22
   days on market $795,000 Active 82 DOM
2. 2026-06-18
   days on market $795,000 Active 79 DOM
3. 2026-06-17
   days on market $795,000 Active 78 DOM
4. 2026-06-16
   days on market $795,000 Active 77 DOM
5. 2026-06-15
   days on market $795,000 Active 76 DOM
6. 2026-06-14
   pricedays on market $795,000 Active 74 DOM
7. 2026-06-10
   days on market $799,900 Active 71 DOM
8. 2026-06-09
   days on market $799,900 Active 70 DOM
9. 2026-06-08
   days on market $799,900 Active 69 DOM
10. 2026-06-07
    days on market $799,900 Active 68 DOM
11. 2026-06-05
    days on market $799,900 Active 65 DOM
12. 2026-06-03
    days on market $799,900 Active 64 DOM
13. 2026-06-02
    days on market $799,900 Active 63 DOM
14. 2026-06-01
    days on market $799,900 Active 62 DOM
15. 2026-05-31
    days on market $799,900 Active 61 DOM
16. 2026-05-30
    days on market $799,900 Active 60 DOM
17. 2026-05-07
    status Active 1024-char remark

    Show marketing remark (1024 chars)

    Back on the market due to the buyer's circumstances. Home & pest inspections were completed. Welcome home to your peaceful sanctuary in the Shadow Ridge community, built by Ryder Homes. The home has a comfortable split floor plan with four bedrooms, 2.5 baths and a den space with frosted glass barn doors. Kitchen has a large island with a porcelain farmhouse sink, granite countertops and an Electrolux appliance package. Primary suite has sliding door access to the backyard patio. The ensuite has a garden tub, a large vanity with double sinks and a frameless glass shower. The convenient & spacious laundry/mud room has ample cabinet storage with a sink. The serenity continues into the private backyard with two paver patio areas and annual producing fruit trees (cherry, apple & nectarine). Continuing outside you have a finished garage with insulated garage door, RV parking with 12' steel gate and an additional man gate. Home is pre-wired for surround sound and priced to move. Come see it today!

18. 2026-04-07
    historical Active Under Contract-Show 1024-char remark

    Show marketing remark (1024 chars)

    Back on the market due to the buyer's circumstances. Home & pest inspections were completed. Welcome home to your peaceful sanctuary in the Shadow Ridge community, built by Ryder Homes. The home has a comfortable split floor plan with four bedrooms, 2.5 baths and a den space with frosted glass barn doors. Kitchen has a large island with a porcelain farmhouse sink, granite countertops and an Electrolux appliance package. Primary suite has sliding door access to the backyard patio. The ensuite has a garden tub, a large vanity with double sinks and a frameless glass shower. The convenient & spacious laundry/mud room has ample cabinet storage with a sink. The serenity continues into the private backyard with two paver patio areas and annual producing fruit trees (cherry, apple & nectarine). Continuing outside you have a finished garage with insulated garage door, RV parking with 12' steel gate and an additional man gate. Home is pre-wired for surround sound and priced to move. Come see it today!

19. 2026-03-31
    listed $799,900 Active 1024-char remark

    Show marketing remark (1024 chars)

    Back on the market due to the buyer's circumstances. Home & pest inspections were completed. Welcome home to your peaceful sanctuary in the Shadow Ridge community, built by Ryder Homes. The home has a comfortable split floor plan with four bedrooms, 2.5 baths and a den space with frosted glass barn doors. Kitchen has a large island with a porcelain farmhouse sink, granite countertops and an Electrolux appliance package. Primary suite has sliding door access to the backyard patio. The ensuite has a garden tub, a large vanity with double sinks and a frameless glass shower. The convenient & spacious laundry/mud room has ample cabinet storage with a sink. The serenity continues into the private backyard with two paver patio areas and annual producing fruit trees (cherry, apple & nectarine). Continuing outside you have a finished garage with insulated garage door, RV parking with 12' steel gate and an additional man gate. Home is pre-wired for surround sound and priced to move. Come see it today!

20. 2026-03-27
    historical
21. 2026-03-25
    listed $799,900 Active

ⓘ 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: $5,770 · $481/mo
• Projected year-2 tax: $5,770 · $481/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,065
• − Mortgage interest: −$44,532
• − Property taxes: −$5,770
• − Insurance: −$3,975
• − Repairs & maintenance: −$5,845
• − Management: −$5,845
• − HOA: −$480
• − Depreciation: −$23,127
• Taxable loss: −$16,509
• Est. tax savings @ 24.0%: +$3,962
• After-tax cash flow: $1,430/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: Washoe County School District
• NCES district ID: 3200480
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,025
• Composite: 32.44/100
• National rank: #5721
• State rank: #6 of 17 in NV

Livability — Spanish Springs

• Score: 67/100
• State rank: #35
• US rank: #11102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Springs, NV
• City population: 13,854
• Population (ZIP): 13,854

Population outlook (Washoe County) Hauer SSP2

• Today (2025): 499,260 people
• By 2030: 523,429 · +4.8%
• By 2040: 564,420 · +13.1%
• By 2050: 595,548 · +19.3%
• By 2075: 652,375 · +30.7%
• By 2100: 661,518 · +32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 10% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Washoe

• 2024 margin: Toss-up / Even · D 49.3% · R 48.3% · Other 2.4%
• 2008→2024 swing: -11.7pp toward R · 2008: 12.7pp · 2024: 1.0pp
• All cycles: 2024: D+1.0 2020: D+4.5 2016: D+1.2 2012: D+3.6 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.99%
• Current HPI: 330.2277
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-07 Relisted — NNRMLS
• 2026-04-07 Contingent — NNRMLS
• 2026-03-31 Listed $799,900 NNRMLS
• 2026-03-27 Listing Removed — NNRMLS
• 2026-03-25 Listed $799,900 NNRMLS

Property tax history

+50.7%/yr

Latest (2025): $5,770 · +3.0% YoY. Source: county tax records.