500 Elm Dr #203 · Paradise, NV 89169

$155,000

1 bd · 1.5 ba · 770 sqft · Condo public records · 27 Days on market

Built 1985 $185/mo HOA · 11% of rent

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Why this score? — see what drove the C- 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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Furnished upstairs condo just moments from the world-famous Las Vegas Strip and directly adjacent to the Las Vegas Convention Center. Perfectly positioned in the heart of Las Vegas, this gated community offers easy access to world-class dining, shopping, entertainment, and major resorts including Wynn, Encore, and Resorts World. This spacious upstairs unit features soaring vaulted ceilings and an expansive loft-style primary bedroom with a private bathroom measuring approximately 22x13. With 308 additional square feet compared to lower-level units, the open layout offers exceptional space and flexibility. Enjoy relaxing pool views from the private balcony, covered parking, and a prime locat

Key facts

• $185 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Association pool (community)
• HOA & community: PARADISE COLONY HOA; Monthly HOA fee; HOA fee covers association management, insurance, grounds maintenance, trash and water; Association amenities include gated access, barbecue and pool

Exterior

• Parking: Assigned parking; Covered parking; Detached 1-car carport; Guest parking
• Security: Gated community
• Utilities: Underground utilities; Public water; Public sewer; No photovoltaics
• Home design: Multi-family property; 1 story; Resale condition; Property faces east; Has attached unit
• Construction: Tile roof; Drywall construction
• Exterior features: Balcony; Desert landscaping; Landscaped grounds; Less than quarter acre lot

Interior

• Kitchen: Breakfast bar/counter; Laminate countertops; Track lighting; Electric range
• Bedrooms: 2 possible bedrooms; Upstairs bedroom with ceiling fan, closet and loft
• Flooring: Carpet; Linoleum; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air (electric) — two units; Electric heating with multiple heating units; Wall furnace
• Interior features: Furnished; Ceiling fan(s); Skylights; Pot rack; Window treatments; Blinds; Drapes; Double-pane windows
• Laundry & utility: Main level laundry; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#10 in NV, #3,494 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-, cost of living B; Watch: employment D+, schools F, crime 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.
• Market conditions: Rents falling (-4.4%/yr); 178 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% 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 $1,650/mo this rent would consume 48% 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 $5k 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 27 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $76k; list at $155k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,675 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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 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: 1.06% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 7.8

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: -11.5%
• Equity multiple: 0.60×
• Total profit: $-17,527
• Equity at exit: $23,111

10-year hold

• IRR: -7.5%
• Equity multiple: 0.59×
• Total profit: $-17,817
• Equity at exit: $13,402

Cash invested: $43,400 (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: 178
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$813
• Tax from tax record: −$47 /mo · $561/yr
• Insurance: −$65
• HOA: −$185
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $194

Break-even live

Break-even rent $1,404

Max offer price $155,000

Occupancy floor 83%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3550 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	947	$1,100	$1.16	44d	20	0.11mi
3776 Howard Hughes Pkwy Las Vegas, NV	3.0	1.0–2.5	1548	$2,357	$1.52	2d	9	0.23mi
595 S Royal Crest Cir #18 Las Vegas, NV	2.0	1.0	816	$1,575	$1.93	44d	1	0.25mi
3930 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	999	$2,241	$2.24	3d	87	0.28mi
3930 University Center Dr Las Vegas, NV	2.0	2.0–3.0	1200	$1,725	$1.44	44d	2	0.60mi
818 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.5	1158	$1,395	$1.20	2d	34	0.63mi
260 E Flamingo Rd Las Vegas, NV	2.0	2.0	1018	$2,475	$2.43	3d	1	0.67mi
260 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	881	$1,600	$1.82	44d	4	0.67mi
260 E Flamingo Rd Las Vegas, NV	2.0	2.0	1018	$2,372	$2.33	24d	2	0.67mi
230 E Flamingo Rd #335 Las Vegas, NV	1.0	1.0	727	$1,600	$2.20	44d	1	0.68mi
350 E Desert Inn Rd Unit H203 Las Vegas, NV	2.0	1.5	849	$1,725	$2.03	44d	1	0.69mi
270 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	877	$1,695	$1.93	44d	7	0.70mi
900 E Desert Inn Rd Las Vegas, NV	1.0–2.0	1.0–2.0	1077	$1,500	$1.39	44d	5	0.72mi
210 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	833	$1,795	$2.15	44d	6	0.72mi
220 E Flamingo Rd #229 Las Vegas, NV	1.0	1.0	692	$2,195	$3.17	24d	1	0.75mi
220 E Flamingo Rd #229 Las Vegas, NV	1.0	1.0	692	$2,195	$3.17	22d	1	0.75mi
220 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	863	$1,595	$1.85	44d	7	0.76mi
1061 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	967	$1,117	$1.15	15d	35	0.94mi
2831 Geary Pl #2909 Las Vegas, NV	2.0	1.0	1112	$1,899	$1.71	44d	1	1.02mi
2000 Fashion Show Dr Unit 1501424P Las Vegas, NV	1.0	1.0	592	$5,942	$10.04	2d	1	1.17mi
205 E Harmon Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1182	$1,650	$1.40	44d	5	1.19mi
1601 E Katie Ave Las Vegas, NV	1.0–2.0	1.0–2.0	809	$1,325	$1.64	44d	13	1.22mi
2700 Las Vegas Blvd S Las Vegas, NV	2.0	2.0–2.5	1283	$2,792	$2.18	12d	4	1.23mi
2700 Las Vegas Blvd S Las Vegas, NV	1.0–2.0	1.0–2.5	1226	$2,200	$1.79	18d	4	1.23mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1109	$2,240	$2.02	3d	3	1.24mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.0–2.0	1109	$2,250	$2.03	4d	3	1.24mi
222 Karen Ave #1004 Las Vegas, NV	1.0	1.5	814	$2,300	$2.83	24d	1	1.24mi
222 Karen Ave #1105 Las Vegas, NV	1.0	1.5	814	$1,990	$2.44	44d	1	1.24mi
222 Karen Ave #306 Las Vegas, NV	1.0	2.0	814	$2,300	$2.83	44d	1	1.24mi
222 Karen Ave #3203 Las Vegas, NV	1.0	2.0	814	$2,500	$3.07	44d	1	1.24mi
222 Karen Ave #2904 Las Vegas, NV	1.0	1.5	814	$2,200	$2.70	2d	1	1.24mi
222 Karen Ave #3005 Las Vegas, NV	1.0	1.5	814	$2,400	$2.95	24d	1	1.24mi
4674 Monterey Cir #1 Las Vegas, NV	2.0	1.0	1000	$1,750	$1.75	44d	1	1.28mi
1700 E Viking Rd Las Vegas, NV	2.0	2.0	1085	$1,662	$1.53	44d	3	1.30mi
145 E Harmon Ave Unit 1332448P Las Vegas, NV	1.0	1.0	548	$3,796	$6.93	2d	1	1.41mi
511 E Sahara Ave Las Vegas, NV	1.0–2.0	1.0	900	$1,195	$1.33	44d	3	1.41mi
3700 Las Vegas Blvd S #672 Las Vegas, NV	1.0	1.0	606	$2,500	$4.13	8d	1	1.46mi

HOA detail condo

• Monthly dues: $185 · $2,220/yr
• Likely covers: gaspoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $155,000 Active 27 DOM
2. 2026-06-17
   days on market $155,000 Active 26 DOM
3. 2026-06-16
   days on market $155,000 Active 25 DOM
4. 2026-06-15
   days on market $155,000 Active 24 DOM
5. 2026-06-13
   days on market $155,000 Active 22 DOM
6. 2026-06-09
   days on market $155,000 Active 18 DOM
7. 2026-06-08
   days on market $155,000 Active 17 DOM
8. 2026-06-07
   days on market $155,000 Active 16 DOM
9. 2026-06-03
   days on market $155,000 Active 12 DOM
10. 2026-06-02
    days on market $155,000 Active 11 DOM
11. 2026-06-01
    days on market $155,000 Active 10 DOM
12. 2026-05-31
    days on market $155,000 Active 9 DOM
13. 2026-05-22
    listed $155,000 Active
14. 2026-05-18
    historical $155,000
15. 2004-07-13
    soldstatus $76,000
16. 1985-11-26
    soldstatus $52,000

ⓘ 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: $561 · $47/mo
• Projected year-2 tax: $914 · $76/mo
• Expected delta: +$353/yr (+$29/mo · 63.0%)

ⓘ 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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,800
• − Mortgage interest: −$8,682
• − Property taxes: −$561
• − Insurance: −$775
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$2,220
• − Depreciation: −$4,509
• Taxable loss: −$116
• Est. tax savings @ 24.0%: +$28
• After-tax cash flow: $2,360/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 — Paradise

• Score: 76/100
• State rank: #10
• US rank: #3494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise, NV
• County: Clark County · 2,306,105 people
• City population: 227,885
• 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

+198.1% since first listed

4 events — show timeline

• 2026-05-22 Listed $155,000 GLVAR
• 2026-05-18 Coming Soon $155,000 GLVAR
• 2004-07-13 Sold (Public Records) $76,000 Public Records
• 1985-11-26 Sold (Public Records) $52,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $561 · +7.5% YoY. Source: county tax records.