Goldwin Plan · Spanish Springs, NV 89441

$608,995

3 bd · 2.5 ba · 2,389 sqft · SingleFamily · 576 Days on market

Excellent condition

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Why this score? — see what drove the F 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 +7.9/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Goldwin balances style with modern functionality across two thoughtfully planned levels. A welcoming foyer opens to a spacious living area where the great room, casual dining area, and kitchen form the heart of the home. Ideal for meal prep and gathering, the kitchen features a center island, ample counter space, and a pantry. Off the main living area, a covered patio offers space for indoor-outdoor living. Adjacent to the foyer, a flex room provides space for daily living, work, or relaxation. Upstairs, the elegant primary bedroom includes a generous walk-in closet and a spa-like bath with a dual-sink vanity, a luxe shower, and a private water closet. Two secondary bedrooms share a full hall bath with a separate vanity area. A bright loft offers extra space for studying, relaxing, or entertaining. Additional desirable features include an everyday entry, bedroom-level laundry, plentiful storage space, and a first-floor powder room.

Key facts

• Multi-gen suite
• 3 garage spots
• Listed 575 days

Tags

• ATTACHED RV GARAGE OPTION
• MULTI-GEN SUITE
• PANORAMIC MOUNTAIN VIEWS
• INDOOR-OUTDOOR LIVING
• OUTDOOR RECREATION AREAS

🏗️ New construction. The $608,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $803,224.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $609k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-839 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $596k (2.1% below list).
• Recommended offer: $536k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.0% vs local median 3.3% in Spanish Springs — 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 67/100 on livability (#35 in NV) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Washoe County School District (urban): math 30% / reading 44% proficiency, ranked #6 of 17 in NV (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alyce Taylor Elementary (math 54% / reading 55%, grade C, #42 of 402 statewide, top 10%, 452 students, 27% FRL); Yvonne Shaw Middle School (math 33% / reading 57%, grade D, #14 of 109 statewide, top 13%, 712 students, 20% FRL); Spanish Springs High School (math 18% / reading 41%, grade F, #67 of 131 statewide, top 53%, 2,057 students, 17% FRL) — zoned schools average 22% FRL vs 42% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 172 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).
• At $5,964/mo this rent would consume 58% of the median local household income ($124k/yr) — 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 $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Washoe County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 576 days — a 12% lower offer ($536k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $535,915 (12.0% 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. It's been on market 576 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.04%
• Cash-on-cash: -4.48%
• DSCR: 0.80
• GRM: 11.2

CMA / ARV

• ARV (median comp): $803,224
• List price: $608,995
• Delta: -24.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 La Tray Dr Unit Magnolia 82	0.11mi	3/2.5	2,389 (0%)	6mo	$640,000	$268	90
511 La Tray Dr Unit Willows 68	0.09mi	3/2.5	2,495 (+4%)	3mo	$698,000	$280	86
11745 Vista Park Dr	0.33mi	3/2.0	2,343 (-2%)	3mo	$880,700	$376	76
309 Coyote Xing	0.51mi	3/2.0	2,343 (-2%)	5mo	$757,000	$323	67
450 Hutchinson Dr Unit Willows 105	0.10mi	3/2.5	2,709 (+13%)	7mo	$771,990	$285	67
456 Pah Rah Ridge Dr	0.26mi	3/2.5	2,704 (+13%)	2mo	$959,000	$355	64
510 La Tray Dr Unit Magnolia 83	0.09mi	4/3.0 (+1)	2,729 (+14%)	5mo	$725,000	$266	61
11560 Vinegar Peak Dr Unit Willows 128	0.32mi	3/2.5	2,709 (+13%)	3mo	$820,000	$303	60
11682 Vista Park Dr	0.49mi	3/2.5	2,636 (+10%)	2mo	$765,000	$290	58
11602 Vinegar Peak Dr	0.35mi	3/2.5	2,704 (+13%)	6mo	$795,970	$294	57
2352 Millville Dr	0.65mi	4/2.5 (+1)	2,226 (-7%)	5mo	$707,000	$318	50
2356 Millville Dr	0.64mi	4/3.0 (+1)	2,574 (+8%)	2mo	$739,000	$287	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.9%
• Equity multiple: 0.18×
• Total profit: $-183,528
• Equity at exit: $119,763

10-year hold

• IRR: -18.9%
• Equity multiple: -0.02×
• Total profit: $-228,288
• Equity at exit: $69,448

Cash invested: $224,903 (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: 36 active · 16 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $732,490 ($295/sqft)
• Median days on market: 133 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +14.1% above current asking $/sqft

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

ZIP-level market 89441

• Home prices YoY: -18.5%
• Active inventory: 172
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $5,964 medium
• Mortgage (P&I): −$4,212
• Tax est. 1.5%: −$1,004 /mo · $12,048/yr
• Insurance: −$335
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,252
• Net cashflow: $-839

Break-even live

Break-even rent $7,026

Max offer price $681,762

Occupancy floor —

Sensitivity live

Price	-10% $-284	-5% $-562	+0% $-839	+5% $-1,117	+10% $-1,394
Rent	-10% $-1,311	-5% $-1,075	+0% $-839	+5% $-604	+10% $-368
Rate	-1.0pp $-435	-0.5pp $-635	base $-839	+0.5pp $-1,048	+1.0pp $-1,259

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: $200,806
• Closing costs: $24,097
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11680 Campo Rico Ln Sparks, NV	3.0	2.0	1902	$4,500	$2.37	139d	1	0.62mi
430 Calle de la Plata Sparks, NV	3.0	2.0	2056	$7,900	$3.84	119d	1	0.89mi

Listing history 50 events

1. 2026-09-24
   days on market $608,995 Active 576 DOM
2. 2026-09-23
   days on market $608,995 Active 575 DOM
3. 2026-09-22
   days on market $608,995 Active 574 DOM
4. 2026-09-21
   days on market $608,995 Active 573 DOM
5. 2026-09-20
   days on market $608,995 Active 572 DOM
6. 2026-09-19
   days on market $608,995 Active 571 DOM
7. 2026-09-18
   days on market $608,995 Active 570 DOM
8. 2026-09-17
   days on market $608,995 Active 569 DOM
9. 2026-09-16
   days on market $608,995 Active 568 DOM
10. 2026-09-15
    days on market $608,995 Active 567 DOM
11. 2026-09-14
    days on market $608,995 Active 566 DOM
12. 2026-09-13
    days on market $608,995 Active 565 DOM
13. 2026-09-12
    days on market $608,995 Active 564 DOM
14. 2026-09-11
    days on market $608,995 Active 563 DOM
15. 2026-09-05
    days on market $608,995 Active 557 DOM
16. 2026-09-04
    days on market $608,995 Active 556 DOM
17. 2026-09-03
    days on market $608,995 Active 555 DOM
18. 2026-08-31
    days on market $608,995 Active 552 DOM
19. 2026-08-30
    days on market $608,995 Active 551 DOM
20. 2026-08-29
    days on market $608,995 Active 550 DOM
21. 2026-08-28
    days on market $608,995 Active 549 DOM
22. 2026-08-27
    days on market $608,995 Active 548 DOM
23. 2026-08-25
    days on market $608,995 Active 546 DOM
24. 2026-08-24
    days on market $608,995 Active 545 DOM
25. 2026-08-23
    days on market $608,995 Active 544 DOM
26. 2026-08-22
    days on market $608,995 Active 543 DOM
27. 2026-08-21
    days on market $608,995 Active 542 DOM
28. 2026-08-20
    days on market $608,995 Active 541 DOM
29. 2026-08-19
    days on market $608,995 Active 540 DOM
30. 2026-08-18
    days on market $608,995 Active 539 DOM
31. 2026-08-17
    days on market $608,995 Active 538 DOM
32. 2026-08-16
    days on market $608,995 Active 537 DOM
33. 2026-08-15
    days on market $608,995 Active 536 DOM
34. 2026-08-14
    days on market $608,995 Active 535 DOM
35. 2026-08-13
    days on market $608,995 Active 534 DOM
36. 2026-08-12
    days on market $608,995 Active 533 DOM
37. 2026-08-11
    days on market $608,995 Active 532 DOM
38. 2026-08-10
    days on market $608,995 Active 531 DOM
39. 2026-08-09
    days on market $608,995 Active 530 DOM
40. 2026-08-08
    days on market $608,995 Active 529 DOM
41. 2026-08-07
    days on market $608,995 Active 528 DOM
42. 2026-08-06
    days on market $608,995 Active 527 DOM
43. 2026-08-05
    days on market $608,995 Active 526 DOM
44. 2026-08-04
    days on market $608,995 Active 525 DOM
45. 2026-08-03
    pricedays on market $608,995 Active 524 DOM
46. 2026-07-31
    days on market $603,995 Active 521 DOM
47. 2026-07-30
    days on market $603,995 Active 520 DOM
48. 2026-07-29
    days on market $603,995 Active 519 DOM
49. 2026-07-27
    days on market $603,995 Active 517 DOM
50. 2026-07-25
    days on market $603,995 Active 515 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

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,567
• − Mortgage interest: −$44,993
• − Property taxes: −$12,048
• − Insurance: −$4,016
• − Repairs & maintenance: −$5,725
• − Management: −$5,725
• − Depreciation: −$23,367
• Taxable loss: −$24,308
• Est. tax savings @ 24.0%: +$5,834
• After-tax cash flow: $-4,239/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 · 11 photos

Excellent 95/100 None rehab

This home is in excellent condition with modern design and well-maintained features. It is move-in ready and would benefit from minor updates to enhance its curb appeal and smart home features.

Value-add opportunities

• Resale Painting the exterior walls — Fresh paint can enhance curb appeal and home value ↑
• Resale Landscaping improvements — Enhanced landscaping can attract more buyers ↑
• Both Add smart home features — Smart home features can increase both resale and rental value ↑

F Composite school gradezoned avg 43/100

Zoned Schools

Elementary Alyce Taylor Elementary C NV #42/402 Nat'l #9,801/41,679 Middle Yvonne Shaw Middle School D NV #14/109 Nat'l #4,622/14,009 High Spanish Springs High School F NV #67/131 Nat'l #11,215/17,239

Schools (NCES district)

• District: Washoe County School District
• NCES district ID: 3200480
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,025
• Composite: 32.44/100
• National rank: #5721
• State rank: #6 of 17 in NV

C Composite livability gradescore 67/100

Livability — Spanish Springs

• Score: 67/100
• State rank: #35
• US rank: #11102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Springs, NV
• County: Washoe · 499,260 people
• City population: 13,854
• Metro: Reno, NV
• Population (ZIP): 13,854
• Household income: $123,625
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 6% of renters

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Population outlook (Washoe County) Hauer SSP2

• Today (2025): 499,260 people
• By 2030: 523,429 · +4.8%
• By 2040: 564,420 · +13.1%
• By 2050: 595,548 · +19.3%
• By 2075: 652,375 · +30.7%
• By 2100: 661,518 · +32.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 10% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

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Political lean MEDSL · Washoe

• 2024 margin: Toss-up / Even · D 49.3% · R 48.3% · Other 2.4%
• 2008→2024 swing: -11.7pp toward R · 2008: 12.7pp · 2024: 1.0pp
• All cycles: 2024: D+1.0 2020: D+4.5 2016: D+1.2 2012: D+3.6 2008: D+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.99%
• Current HPI: 330.2277
• Rent YoY: —
• Metro: —
• 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

+0.8% since first listed

2 events — show timeline

• 2026-02-03 Price Changed $603,995 Zillow
• 2025-02-25 Listed $598,995 Zillow