2627 S Lamb Blvd #280

Sunrise Manor, NV 89121

$72,900B-

2 bd · 2.0 ba · 896 sqft · Built 2024 · Manufactured · Active · 303 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,382/mo
• Mortgage (P&I): −$382
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $588/mo
• Annual: $7,056/yr
• Cap rate: 15.97%
• Cash-on-cash: 34.57%
• DSCR: 2.54
• 1% rule: 1.90%
• Cash to close: $20,412

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $73k.
• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• It's been on market 303 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $504 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#83 in NV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, 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 soft (-0.1%/yr); 414 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.