828 Sagman St · Las Vegas, NV 89101

$649,900

7 bd · 5.5 ba · 3,357 sqft · MultiFamily public records · 162 Days on market

Built 1976 6,970 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• 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

Welcome to this beautifully updated four-plex located in a prime Las Vegas area. This property features four units with modern touches throughout, offering a fresh and well-maintained appeal. All unit leases have expired, providing flexibility for an owner-occupant or an investor looking to adjust rents or deliver units vacant. Owned by the same owner for 16 years, this property has been well cared for and presents an excellent investment opportunity with strong potential.

Key facts

• 6,970 sq ft lot
• Built 1976
• Listed 162 days

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $419/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#2 in NV, #1,723 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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 rising (+2.5%/yr); 188 active listings in the ZIP; lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $6,974/mo this rent would consume 212% of the median local household income ($39k/yr) (locally 3814% 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 $4k of loan paydown is wiped out by about $19k 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 162 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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 $115k; list at $650k implies a 465% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $571,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 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 1976 — 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. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.51% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-2,359
• Equity at exit: $96,902

10-year hold

• IRR: 8.8%
• Equity multiple: 1.66×
• Total profit: $120,189
• Equity at exit: $56,191

Cash invested: $181,972 (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 89101

• Home prices YoY: -22.8%
• Rents YoY: 2.5%
• Active inventory: 188
• Price-to-rent: 31.1×

Monthly cashflow live

• Estimated rent: $6,974 medium
• Mortgage (P&I): −$3,408
• Tax from tax record: −$156 /mo · $1,868/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,465
• Net cashflow: $1,675

Break-even live

Break-even rent $4,854

Max offer price $649,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$6,972
Total (4 units)			$6,974

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $649,900 Active 162 DOM
2. 2026-06-17
   days on market $649,900 Active 161 DOM
3. 2026-06-16
   days on market $649,900 Active 160 DOM
4. 2026-06-15
   days on market $649,900 Active 159 DOM
5. 2026-06-13
   days on market $649,900 Active 157 DOM
6. 2026-06-09
   days on market $649,900 Active 153 DOM
7. 2026-06-08
   days on market $649,900 Active 152 DOM
8. 2026-06-08
   days on market $649,900 Active 151 DOM
9. 2026-06-03
   days on market $649,900 Active 147 DOM
10. 2026-06-02
    days on market $649,900 Active 146 DOM
11. 2026-06-01
    days on market $649,900 Active 145 DOM
12. 2026-05-31
    days on market $649,900 Active 144 DOM
13. 2026-01-07
    listed $649,900 Active 477-char remark

    Show marketing remark (477 chars)

    Welcome to this beautifully updated four-plex located in a prime Las Vegas area. This property features four units with modern touches throughout, offering a fresh and well-maintained appeal. All unit leases have expired, providing flexibility for an owner-occupant or an investor looking to adjust rents or deliver units vacant. Owned by the same owner for 16 years, this property has been well cared for and presents an excellent investment opportunity with strong potential.

14. 2009-01-02
    historical 209-char remark

    Show marketing remark (209 chars)

    Great investment opportunity-fixer upper! This fourplex is located in the heart of Las Vegas and within walking distance to Freamont Street. Just reduced price. This is a great opportunity that wont last long!

15. 2009-01-02
    soldstatus $115,000 209-char remark

    Show marketing remark (209 chars)

    Great investment opportunity-fixer upper! This fourplex is located in the heart of Las Vegas and within walking distance to Freamont Street. Just reduced price. This is a great opportunity that wont last long!

16. 2009-01-02
    soldstatus $115,000

    Show marketing remark (209 chars)

    Great investment opportunity-fixer upper! This fourplex is located in the heart of Las Vegas and within walking distance to Freamont Street. Just reduced price. This is a great opportunity that wont last long!

17. 2008-11-12
    listed $114,900 209-char remark

    Show marketing remark (209 chars)

    Great investment opportunity-fixer upper! This fourplex is located in the heart of Las Vegas and within walking distance to Freamont Street. Just reduced price. This is a great opportunity that wont last long!

18. 1992-06-30
    soldstatus $120,000

ⓘ 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: $1,868 · $156/mo
• Projected year-2 tax: $3,834 · $320/mo
• Expected delta: +$1,966/yr (+$164/mo · 105.3%)

ⓘ 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 ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,688
• − Mortgage interest: −$36,405
• − Property taxes: −$1,868
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,695
• − Management: −$6,695
• − Depreciation: −$18,906
• Taxable income: $9,870
• Est. tax owed @ 24.0%: −$2,369
• After-tax cash flow: $17,730/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 — Las Vegas

• Score: 80/100
• State rank: #2
• US rank: #1723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Vegas, NV
• County: Clark County · 2,306,105 people
• City population: 1,643,591
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 42,739
• Household income: $39,459
• Rent vs Own: 81.3% rent · 18.7% own
• Severe rent burden: 3814.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 19% White 19% Black 14% Asian 5% Native American 3%
• Hispanic origin (detail): Mexican 45% Puerto Rican 1% Cuban 1%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 31% · Canada, China
• Languages at home: 47% English-only · Spanish 48% Tagalog/Filipino 2% Chinese 1%

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: ▼ -90.49%
• Current HPI: 305.6227
• Rent YoY: ▲ 2.51%
• 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

+441.6% since first listed

6 events — show timeline

• 2026-01-07 Listed $649,900 GLVAR
• 2009-01-02 Sold (Public Records) $115,000 Public Records
• 2009-01-02 Sold (MLS) $115,000 GLVAR
• 2009-01-02 Listing Removed — GLVAR
• 2008-11-12 Listed $114,900 GLVAR
• 1992-06-30 Sold (Public Records) $120,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $1,868 · +7.8% YoY. Source: county tax records.