1111 N Lamb Blvd #209 · Las Vegas, NV 89110

$143,000

3 bd · 2.0 ba · 1,310 sqft · Manufactured · 13 Days on market

Manufactured home 55+ age-restricted Built 2026 Good condition $109/sqft · 49% below area Est $279k · 49% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.8/30.0
• DSCR +4.4/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +2.5/10.0
• Schools +1.2/10.0
• Manufactured-home adj. -4.1

Listing remarks

55+ age qualified community. Make your new home in Villa Borega, a 55+ senior community, well-maintained, professionally managed! This is a 2025 3 bed/2 bath, 1310.40 sq. ft. home in a gorgeous neighborhood. Villa Borega is the perfect place to enjoy the laid-back Las Vegas lifestyle! Let us show you around the place! Call and schedule a viewing today! Dealer: Realty Systems Nevada, Inc.

Key facts

• Built 2026
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $143k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-20 ($-243/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (14.3% below list).
• Recommended offer: $123k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.1% in Las Vegas — 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.

Location & tenants

• Location reads 80/100 on livability (#2 in NV, #1,723 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: 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.
• Zoned schools: Earl Ira J Es (math 11% / reading 15%, grade F, #364 of 402 statewide, top 91%, 623 students, 100% FRL); Robison Dell H Ms (math 4% / reading 17%, grade F, #105 of 109 statewide, top 97%, 760 students, 100% FRL); Eldorado Hs (math 8% / reading 16%, grade F, #117 of 131 statewide, top 91%, 2,084 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 12% at this address vs 30% district-wide (-18 pts) — the specific schools serving this property underperform the Clark County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 383 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $989 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,530 (14.3% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (median comp): $279,000
• List price: $143,000
• Delta: -48.75%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4539 Bingham Ave	0.61mi	3/2.0	1,378 (+5%)	1mo	$325,000	$236	62
2483 Silk Tree Mimosa St	1.44mi	3/2.5	1,356 (+4%)	1mo	$350,000	$258	56
3609 Park Oliver Dr	1.04mi	3/2.0	1,236 (-6%)	1mo	$382,000	$309	55
3717 Perliter Ave	1.30mi	2/2.0 (-1)	1,273 (-3%)	0mo	$345,000	$271	55
3420 Taylor Ave	1.43mi	3/2.0	1,233 (-6%)	0mo	$320,000	$260	55
3329 Drover Ave	1.28mi	4/2.0 (+1)	1,358 (+4%)	1mo	$300,000	$221	53
1501 Linnbaker Ln #202	0.40mi	2/2.0 (-1)	1,047 (-20%)	0mo	$189,000	$181	51
3948 New Hope Way	0.81mi	3/2.0	1,152 (-12%)	0mo	$360,000	$313	44
3205 Mary Ann Ave	1.38mi	3/2.0	1,149 (-12%)	1mo	$385,000	$335	44
3623 Via Alamo Ave	1.20mi	3/2.5	1,108 (-15%)	1mo	$320,000	$289	37
4029 Posse Ave	0.97mi	4/2.5 (+1)	1,479 (+13%)	0mo	$345,000	$233	36
4120 Courage Ct	0.74mi	4/2.0 (+1)	1,566 (+20%)	1mo	$320,000	$204	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-25,930
• Equity at exit: $21,322

10-year hold

• IRR: -13.7%
• Equity multiple: 0.25×
• Total profit: $-30,115
• Equity at exit: $12,364

Cash invested: $40,040 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 19 active · 2 under contract
• Months of supply: 114.0 mo (1%/mo absorbed)
• Median asking: $124,500 ($94/sqft)
• Median days on market: 49 d
• This list price: 84% of active listings are priced below it
• ARV vs active asking: +125.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 89110

• Rents YoY: 1.8%
• Active inventory: 383
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,225 high
• Mortgage (P&I): −$750
• Tax est. 1.5%: −$179 /mo · $2,145/yr
• Insurance: −$60
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-20

Break-even live

Break-even rent $1,251

Max offer price $140,069

Occupancy floor 97%

Sensitivity live

Price	-10% $79	-5% $29	+0% $-20	+5% $-70	+10% $-119
Rent	-10% $-117	-5% $-69	+0% $-20	+5% $28	+10% $77
Rate	-1.0pp $52	-0.5pp $16	base $-20	+0.5pp $-57	+1.0pp $-95

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: $35,750
• Closing costs: $4,290
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 N Lamb Blvd Spc 188 Las Vegas, NV	3.0	2.0	1123	$1,349	$1.20	94d	1	0.03mi
1111 N Lamb Blvd #125 Las Vegas, NV	2.0	2.0	1076	$1,299	$1.21	113d	1	0.03mi
1111 N Lamb Blvd #209 Las Vegas, NV	3.0	2.0	1310	$1,399	$1.07	98d	1	0.03mi
1111 N Lamb Blvd Spc 102 Las Vegas, NV	3.0	2.0	1344	$1,399	$1.04	76d	1	0.03mi
1412 Autumn Glen Cir Las Vegas, NV	3.0	2.0	1480	$1,750	$1.18	10d	1	0.09mi
1412 Autumn Glen Cir Las Vegas, NV	3.0	2.0	1480	$1,750	$1.18	7d	1	0.09mi
1111 N Lamb Blvd Spc 128 Las Vegas, NV	3.0	2.0	1344	$1,399	$1.04	10d	1	0.10mi
1401 N Lamb Blvd Las Vegas, NV	2.0–3.0	2.0	1018	$1,767	$1.74	0d	14	0.14mi
899 Slumpstone Way Las Vegas, NV	2.0	1.5	1102	$1,400	$1.27	42d	1	0.23mi
894 Rhinegold Way Las Vegas, NV	2.0	1.5	1116	$1,235	$1.11	82d	1	0.24mi
1492 N Lamb Blvd Las Vegas, NV	1.0–2.0	1.0–2.0	861	$1,649	$1.91	0d	11	0.24mi
882 Ripple Way Las Vegas, NV	2.0	1.5	1116	$1,499	$1.34	119d	1	0.24mi
870 Flagstone Way Las Vegas, NV	2.0	1.5	1102	$1,450	$1.32	119d	1	0.26mi
859 Rhinegold Way Las Vegas, NV	2.0	1.5	1102	$1,300	$1.18	10d	1	0.27mi
4302 Lynnann Dr Las Vegas, NV	2.0	1.5	952	$1,350	$1.42	139d	1	0.32mi
1440 Jamielinn Ln #102 Las Vegas, NV	2.0	2.0	1047	$1,150	$1.10	100d	1	0.39mi
1400 Jamielinn Ln #104 Las Vegas, NV	3.0	2.0	1197	$1,600	$1.34	6d	1	0.39mi
1400 Jamielinn Ln #104 Las Vegas, NV	3.0	2.0	1197	$1,750	$1.46	67d	1	0.39mi
1420 Jamielinn Ln #101 Las Vegas, NV	2.0	2.0	1081	$1,150	$1.06	10d	1	0.40mi
1521 Linnbaker Ln #203 Las Vegas, NV	3.0	2.0	1197	$1,740	$1.45	10d	1	0.40mi
1700 N Lamb Blvd Las Vegas, NV	2.0	2.0	989	$1,475	$1.49	5d	5	0.41mi
4156 Abrams Ave Las Vegas, NV	3.0	2.0	1005	$1,700	$1.69	139d	1	0.43mi
825 Hyattsville St Las Vegas, NV	3.0	2.0	1080	$1,695	$1.57	10d	1	0.43mi
1520 Jamielinn Ln Las Vegas, NV	2.0	2.0	1081	$695	$0.64	10d	1	0.43mi
4760 E Van Buren Ave Las Vegas, NV	2.0	1.0	992	$1,800	$1.81	5d	1	0.51mi
4105 Abrams Ave Las Vegas, NV	3.0	2.5	1400	$2,094	$1.50	139d	1	0.52mi
4139 Mark Twain Ct Las Vegas, NV	3.0	2.5	1308	$1,750	$1.34	82d	1	0.52mi
4465 Halbert Ave Las Vegas, NV	3.0	2.0	1378	$1,450	$1.05	70d	1	0.54mi
4125 Kemble Ct Las Vegas, NV	3.0	2.5	1308	$1,800	$1.38	40d	1	0.56mi
4375 Pittsfield St Las Vegas, NV	3.0	2.0	1137	$2,000	$1.76	64d	1	0.57mi
1615 Legato Falls St Las Vegas, NV	3.0	2.5	1400	$1,800	$1.29	10d	1	0.58mi
1400 Henry Ave Unit D Las Vegas, NV	2.0	1.0	898	$915	$1.02	139d	1	0.58mi
1754 Victor Hugo Ln Las Vegas, NV	3.0	2.5	1436	$1,700	$1.18	4d	1	0.59mi
4537 Fireside Ln Las Vegas, NV	3.0	2.5	1665	$1,935	$1.16	42d	1	0.59mi
4356 Pittsfield St Las Vegas, NV	4.0	2.5	1526	$2,200	$1.44	42d	1	0.59mi
4356 Pittsfield St Las Vegas, NV	4.0	2.5	1526	$2,250	$1.47	10d	1	0.59mi
4220 E Tonopah Ave Apt 204 Las Vegas, NV	2.0	1.0	900	$1,000	$1.11	139d	1	0.61mi
4633 Solar Eclipse Dr Las Vegas, NV	3.0	2.5	1370	$1,900	$1.39	42d	1	0.61mi
3980 E Owens Ave Unit 122 Las Vegas, NV	2.0	2.0	880	$1,450	$1.65	139d	1	0.61mi
3980 E Owens Ave Unit 206 Las Vegas, NV	2.0	2.0	880	$1,400	$1.59	139d	1	0.61mi

Listing history 8 events

1. 2026-06-16
   days on market $143,000 Active 13 DOM
2. 2026-06-15
   days on market $143,000 Active 12 DOM
3. 2026-06-13
   days on market $143,000 Active 10 DOM
4. 2026-06-09
   days on market $143,000 Active 6 DOM
5. 2026-06-08
   days on market $143,000 Active 5 DOM
6. 2026-06-08
   days on market $143,000 Active 4 DOM
7. 2026-06-03
   remarks 390-char remark
8. 2026-06-03
   listed $143,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌡 Heat 8/10 Severe
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,704
• − Mortgage interest: −$8,010
• − Property taxes: −$2,145
• − Insurance: −$715
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$4,160
• Taxable loss: −$2,679
• Est. tax savings @ 24.0%: +$643
• After-tax cash flow: $400/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $6,550–$19,650 screening

This 55+ community home is in good condition with cosmetic updates needed to enhance its resale value.

Repairs flagged

• Moderate kitchen cabinets — Worn appearance
• Minor bathroom fixtures — Slight discoloration

Value-add opportunities

• Resale Paint kitchen cabinets — Fresh paint enhances curb appeal ↑
• Resale Replace bathroom fixtures — Modern fixtures improve functionality and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 12/100

Zoned Schools

Elementary Earl Ira J Es F NV #364/402 Nat'l #37,536/41,679 Middle Robison Dell H Ms F NV #105/109 Nat'l #13,275/14,009 High Eldorado Hs F NV #117/131 Nat'l #15,857/17,239

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

A Composite livability gradescore 80/100

Livability — Las Vegas

• Score: 80/100
• State rank: #2
• US rank: #1723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Vegas, NV
• County: Clark County · 2,504,101 people
• City population: 1,643,591
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 69,107
• Household income: $61,001
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 19% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 63% White 20% Two or more races 18% Black 8% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Cuban 3%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 31% · Canada
• Languages at home: 42% English-only · Spanish 53% Tagalog/Filipino 2% Other Asian/Pacific 1%

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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: ▼ -165.11%
• Current HPI: 299.1815
• Rent YoY: ▲ 1.78%
• Metro: Las Vegas-Henderson-Paradise, NV
• State GDP YoY: ▲ 3.08%
• F500 in state: 6

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Industry mix (Fortune 500 HQ in NV)

Industry	F500 HQs	Revenue
▸Hotels / Casinos	3	$36B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-19 Rental Removed $1,399 ZUMPER1
• 2026-06-06 Listed for Rent $1,399 ZUMPER1