4311 Santovito St

Pahrump, NV 89061

$299,000C-

4 bd · 3.0 ba · 1,820 sqft · Built 1992 · SingleFamily · Active · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,317/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$227
• HOA: −$0
• Vac / Maint / Mgmt: −$487
• Net cashflow: $35/mo
• Annual: $422/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• 1% rule: 0.77%
• Cash to close: $83,720

Investor read

• This is a 4-bed/3.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $35 ($422/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (22.5% below list).
• It's been on market 104 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $232k (22.5% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (2.8% local appreciation)).
• Location reads 68/100 on livability (#30 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Nye County School District (rural): math 20% / reading 33% proficiency, ranked #16 of 17 in NV (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Floyd Elementary School (math 27% / reading 35%, grade F, #181 of 402 statewide, top 45%, 551 students, 100% FRL); Rosemary Clarke Middle School (math 20% / reading 31%, grade F, #62 of 109 statewide, top 58%, 1,060 students, 100% FRL); Pahrump Valley High School (math 14% / reading 41%, grade F, #74 of 131 statewide, top 56%, 1,362 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 281 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes.
• Nye County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 21y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $225k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 3.4% in Pahrump — 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.

Questions for listing agent

• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 23% 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.