468 Adelle Ave

Moapa Valley, NV 89040

$77,000B

2 bd · 1.0 ba · 650 sqft · Built 1992 · Manufactured · Active · 180 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $992/mo
• Mortgage (P&I): −$404
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $324/mo
• Annual: $3,890/yr
• Cap rate: 11.34%
• Cash-on-cash: 18.04%
• DSCR: 1.80
• 1% rule: 1.29%
• Cash to close: $21,560

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $77k.
• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $77k).
• It's been on market 180 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($532 loan paydown + $5k appreciation (6.3% local appreciation)).
• Location reads 60/100 on livability (#77 in NV) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment B+; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Bowler Grant Es (math 44% / reading 52%, grade D, #64 of 402 statewide, top 16%, 690 students, 100% FRL); Lyon Mack Ms (math 41% / reading 54%, grade C-, #11 of 109 statewide, top 9%, 404 students, 100% FRL); Moapa Valley Hs (math 27% / reading 62%, grade F, #32 of 131 statewide, top 25%, 573 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 47% at this address vs 30% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Clark County School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 72 active listings in the ZIP; 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.
• 6 sale attempts since 9y 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 $25k; list at $77k implies a 208% gain — meaningful room to come down on a strong offer.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→15/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 180 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.
• 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.