5792 Ambassador Ave #102

Whitney, NV 89122

$130,000D-

1 bd · 1.0 ba · 723 sqft · Built 2001 · Condo · Active · 190 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,292/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$84
• HOA: −$271
• Vac / Maint / Mgmt: −$271
• Net cashflow: $-16/mo
• Annual: $-186/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• 1% rule: 0.99%
• Cash to close: $36,400

Investor read

• This is a 1-bed/1.0-bath condo listed at $130k.
• At list price, monthly cash flow is $-16 ($-186/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (0.6% below list).
• It's been on market 190 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#56 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment D+, schools F, crime D-.
• 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.
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents soft (-0.6%/yr); 332 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 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.
• 9 sale attempts since 17y ago; this cycle's ask is 12900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $98k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 D 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?