1440 Vegas Valley Dr #8 · Winchester, NV 89169

$149,900

2 bd · 1.0 ba · 863 sqft · Condo public records · 46 Days on market

Built 1970 $570/mo HOA · 31% of rent

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Why this score? — see what drove the D 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 +13.7/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful LAS BRISAS unit. Remodeled unit in immaculate condition. Newer cabinets, tile flooring and brand new carpet. HVAC system is 4 years old. Turn key property.

Key facts

• $570 HOA
• Community pool
• Built 1970

Tags

• WALKING DISTANCE TO BUS STOPS

Property features AI

Finance

• HOA & community: Homeowners association (Las Brisas); Monthly association fee of $570; Association fee includes management, trash, and water; Association amenities: pool, barbecue, laundry

Exterior

• Parking: Open parking
• Utilities: Underground utilities; Public water; Public sewer; No photovoltaics
• Home design: Single family zoning; 2-story home; Faces south; Resale property; Attached to another property
• Construction: Tile roof
• Exterior features: Balcony; Desert landscaping; Landscaped; Less than quarter acre lot; Community pool

Interior

• Kitchen: Dishwasher; Kitchen with laminate countertops and tile flooring; Kitchen/dining room combo
• Bedrooms: 2 possible bedrooms; Bedroom 2 with closet (11 x 12); Primary bedroom described as 16 x 15 with closet and private bath separate from others
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning (electric)
• Interior features: Unfurnished; Primary bedroom located on the main level; Bedroom on main level
• Laundry & utility: Electric dryer hookup; Community laundry (association amenity)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $11 ($135/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#3 in NV, #2,272 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment 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.
• Zoned schools: Lake Robert E Es (math 14% / reading 27%, grade F, #280 of 402 statewide, top 70%, 642 students, 100% FRL); Martin Roy W Ms (reading 31%, 1,271 students, 100% FRL); Valley Hs (math 8% / reading 24%, grade F, #107 of 131 statewide, top 82%, 2,714 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-4.4%/yr); 180 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $1,855/mo this rent would consume 54% of the median local household income ($41k/yr) (locally 2744% 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 $1k of loan paydown is wiped out by about $4k 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 46 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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 $56k; list at $150k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.24% ✓
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.32×
• Total profit: $-28,726
• Equity at exit: $22,351

10-year hold

• IRR: -27.6%
• Equity multiple: -0.05×
• Total profit: $-43,942
• Equity at exit: $12,961

Cash invested: $41,972 (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 89169

• Home prices YoY: -33.4%
• Rents YoY: -4.4%
• Active inventory: 180
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,855 high
• Mortgage (P&I): −$786
• Tax from tax record: −$35 /mo · $425/yr
• Insurance: −$62
• HOA: −$570
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $11

Break-even live

Break-even rent $1,840

Max offer price $149,900

Occupancy floor 94%

Sensitivity live

Price	-10% $96	-5% $54	+0% $11	+5% $-31	+10% $-74
Rent	-10% $-135	-5% $-62	+0% $11	+5% $84	+10% $158
Rate	-1.0pp $87	-0.5pp $49	base $11	+0.5pp $-28	+1.0pp $-67

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 E Desert Inn Rd Las Vegas, NV	1.0–2.0	1.0–2.0	1077	$1,800	$1.67	45d	5	0.76mi
3152 S Eastern Ave Las Vegas, NV	2.0	1.0	987	$1,450	$1.47	25d	1	0.89mi
3168 S Eastern Ave #48 Las Vegas, NV	1.0	1.0	671	$1,050	$1.56	25d	1	0.89mi
2831 Geary Pl #2909 Las Vegas, NV	2.0	1.0	1112	$1,899	$1.71	45d	1	0.92mi
1040 Canosa Ave Las Vegas, NV	2.0	1.0	969	$1,745	$1.80	45d	1	0.92mi
511 E Sahara Ave Las Vegas, NV	1.0–2.0	1.0	900	$1,600	$1.78	45d	3	1.08mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.0–2.0	1109	$3,500	$3.15	6d	3	1.11mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1109	$3,500	$3.15	0d	4	1.11mi
1021 Griffith Ave Las Vegas, NV	3.0	2.0	1094	$2,200	$2.01	45d	1	1.15mi
1601 E Katie Ave Las Vegas, NV	1.0–2.0	1.0–2.0	809	$1,852	$2.29	45d	13	1.19mi
222 Karen Ave #2904 Las Vegas, NV	1.0	1.5	814	$2,200	$2.70	3d	1	1.19mi
222 Karen Ave #3005 Las Vegas, NV	1.0	1.5	814	$2,400	$2.95	25d	1	1.19mi
222 Karen Ave #3203 Las Vegas, NV	1.0	2.0	814	$2,500	$3.07	45d	1	1.19mi
222 Karen Ave #306 Las Vegas, NV	1.0	2.0	814	$2,300	$2.83	45d	1	1.19mi
222 Karen Ave #1105 Las Vegas, NV	1.0	1.5	814	$1,990	$2.44	45d	1	1.19mi
222 Karen Ave #1004 Las Vegas, NV	1.0	1.5	814	$2,300	$2.83	25d	1	1.19mi
2137 E Saint Louis Ave Las Vegas, NV	3.0	1.0	1028	$1,700	$1.65	45d	1	1.20mi
1700 E Viking Rd Las Vegas, NV	2.0	2.0	1085	$1,662	$1.53	45d	3	1.25mi
525 E Saint Louis Ave Las Vegas, NV	2.0	2.0	1094	$1,525	$1.39	45d	1	1.27mi
595 S Royal Crest Cir #18 Las Vegas, NV	2.0	1.0	816	$1,575	$1.93	45d	1	1.32mi
3550 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	947	$1,425	$1.50	45d	20	1.40mi
3930 University Center Dr Las Vegas, NV	2.0	2.0–3.0	1200	$1,725	$1.44	45d	2	1.47mi
3200 McLeod Dr Las Vegas, NV	1.0–2.0	1.0–2.0	726	$1,536	$2.11	0d	20	1.49mi

HOA detail condo

• Monthly dues: $570 · $6,840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $149,900 Active 46 DOM
2. 2026-06-18
   days on market $149,900 Active 43 DOM
3. 2026-06-17
   days on market $149,900 Active 42 DOM
4. 2026-06-16
   days on market $149,900 Active 41 DOM
5. 2026-06-15
   days on market $149,900 Active 40 DOM
6. 2026-06-13
   days on market $149,900 Active 38 DOM
7. 2026-06-09
   days on market $149,900 Active 34 DOM
8. 2026-06-08
   days on market $149,900 Active 33 DOM
9. 2026-06-07
   days on market $149,900 Active 32 DOM
10. 2026-06-03
    days on market $149,900 Active 28 DOM
11. 2026-06-02
    days on market $149,900 Active 27 DOM
12. 2026-06-01
    days on market $149,900 Active 26 DOM
13. 2026-05-31
    days on market $149,900 Active 25 DOM
14. 2026-05-16
    price $900
15. 2026-05-08
    price $925
16. 2026-05-05
    listed $149,900 Active 415-char remark
17. 2026-05-02
    listed $950
18. 2017-02-22
    soldstatus $56,500 Sold 165-char remark

    Show marketing remark (165 chars)

    Beautiful LAS BRISAS unit. Remodeled unit in immaculate condition. Newer cabinets, tile flooring and brand new carpet. HVAC system is 4 years old. Turn key property.

19. 2017-02-22
    soldstatus $56,500

    Show marketing remark (165 chars)

    Beautiful LAS BRISAS unit. Remodeled unit in immaculate condition. Newer cabinets, tile flooring and brand new carpet. HVAC system is 4 years old. Turn key property.

20. 2017-02-02
    historical Contingent Offer 165-char remark

    Show marketing remark (165 chars)

    Beautiful LAS BRISAS unit. Remodeled unit in immaculate condition. Newer cabinets, tile flooring and brand new carpet. HVAC system is 4 years old. Turn key property.

21. 2017-01-26
    listed $60,000 Active 165-char remark

    Show marketing remark (165 chars)

    Beautiful LAS BRISAS unit. Remodeled unit in immaculate condition. Newer cabinets, tile flooring and brand new carpet. HVAC system is 4 years old. Turn key property.

22. 2017-01-25
    soldstatus $30,660
23. 2015-10-14
    soldstatus $27,000
24. 2012-04-01
    soldstatus $27,000 Sold

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

25. 2012-03-30
    soldstatus $27,000

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

26. 2012-03-30
    status Pending

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

27. 2012-03-19
    status Exclusive Right

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

28. 2012-02-28
    historical Contingent Offer

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

29. 2012-02-19
    price $29,900

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

30. 2012-01-25
    price $30,500

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

31. 2012-01-04
    price $34,500

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

32. 2011-11-30
    price $32,500

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

33. 2011-11-14
    price $34,500

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

34. 2011-11-08
    price $35,500

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

35. 2011-11-01
    price $36,500

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

36. 2011-09-26
    listed $38,500 Exclusive Right

    Show marketing remark (240 chars)

    Great unit!! New paint, new carpet, new stove and new refrigerator. In close proximity to the Las Vegas Strip and UNLV as well as walking distance to super market, The Boulavard Mall and bus stops. Also walking distance to Sunrise Hospital.

37. 2011-02-18
    historical
38. 2010-01-25
    listed Contingent Offer
39. 2004-06-16
    soldstatus $60,000
40. 2001-12-26
    soldstatus $40,000
41. 1972-07-07
    soldstatus $31,000

ⓘ 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: $425 · $35/mo
• Projected year-2 tax: $884 · $74/mo
• Expected delta: +$459/yr (+$38/mo · 108.0%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,256
• − Mortgage interest: −$8,397
• − Property taxes: −$425
• − Insurance: −$750
• − Repairs & maintenance: −$1,781
• − Management: −$1,781
• − HOA: −$6,840
• − Depreciation: −$4,361
• Taxable loss: −$2,077
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $633/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 — Winchester

• Score: 79/100
• State rank: #3
• US rank: #2272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winchester, NV
• County: Clark County · 2,306,105 people
• City population: 39,883
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 22,171
• Household income: $40,904
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2744.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 33% White 30% Black 23% Two or more races 13% Asian 9% Native American 2%
• Hispanic origin (detail): Mexican 21% Cuban 5%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 30% · Canada, China
• Languages at home: 59% English-only · Spanish 27% Tagalog/Filipino 4% Other Asian/Pacific 3%

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: ▼ -136.91%
• Current HPI: 272.6449
• Rent YoY: ▼ -4.43%
• 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

+383.5% since first listed

29 events — show timeline

• 2026-05-30 Price Changed $850 GLVAR
• 2026-05-16 Price Changed $900 GLVAR
• 2026-05-08 Price Changed $925 GLVAR
• 2026-05-05 Listed $149,900 GLVAR
• 2026-05-02 Listed for Rent $950 GLVAR
• 2017-02-22 Sold (Public Records) $56,500 Public Records
• 2017-02-22 Sold (MLS) $56,500 GLVAR
• 2017-02-02 Contingent — GLVAR
• 2017-01-26 Listed $60,000 GLVAR
• 2017-01-25 Sold (Public Records) $30,660 Public Records
• 2015-10-14 Sold (Public Records) $27,000 Public Records
• 2012-04-01 Sold (MLS) $27,000 GLVAR
• 2012-03-30 Sold (Public Records) $27,000 Public Records
• 2012-03-30 Pending — GLVAR
• 2012-03-19 Relisted — GLVAR
• 2012-02-28 Contingent — GLVAR
• 2012-02-19 Price Changed $29,900 GLVAR
• 2012-01-25 Price Changed $30,500 GLVAR
• 2012-01-04 Price Changed $34,500 GLVAR
• 2011-11-30 Price Changed $32,500 GLVAR
• 2011-11-14 Price Changed $34,500 GLVAR
• 2011-11-08 Price Changed $35,500 GLVAR
• 2011-11-01 Price Changed $36,500 GLVAR
• 2011-09-26 Listed $38,500 GLVAR
• 2011-02-18 Listing Removed — GLVAR
• 2010-01-25 Listed — GLVAR
• 2004-06-16 Sold (Public Records) $60,000 Public Records
• 2001-12-26 Sold (Public Records) $40,000 Public Records
• 1972-07-07 Sold (Public Records) $31,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $425 · -22.9% YoY. Source: county tax records.