5422 Swenson St · Paradise, NV 89119

$110,000

2 bd · 2.0 ba · 862 sqft · Condo public records · 687 Days on market

Built 1976 $340/mo HOA · 21% 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 +26.0/30.0
• 1% rule +9.7/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

Key facts

• $340 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% 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 soft (-1.8%/yr); 199 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% 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).
• This rent runs 41% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 687 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $48k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $110k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 687 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.47% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 5.7

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: -4.5%
• Equity multiple: 0.84×
• Total profit: $-4,938
• Equity at exit: $16,401

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $570
• Equity at exit: $9,511

Cash invested: $30,800 (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 89119

• Rents YoY: -1.8%
• Active inventory: 199
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$577
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$46
• HOA: −$340
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $274

Break-even live

Break-even rent $1,269

Max offer price $110,000

Occupancy floor 78%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5187 Caliente St #96 Las Vegas, NV	2.0	2.0	994	$1,595	$1.60	43d	1	0.90mi
4700 S Maryland Pkwy Las Vegas, NV	1.0	1.0	409	$1,382	$3.37	43d	48	0.95mi
1635 E Tropicana Ave Las Vegas, NV	3.0	1.0–3.0	832	$2,085	$2.50	2d	68	1.03mi
5045 Spencer St Unit B Las Vegas, NV	2.0	1.5	828	$1,610	$1.94	43d	1	1.05mi
1577 Elizabeth Ave #1 Las Vegas, NV	2.0	2.0	1064	$1,600	$1.50	43d	1	1.08mi
1481 Lorilyn Ave #4 Las Vegas, NV	1.0	1.0	792	$1,835	$2.32	43d	1	1.10mi
4801 Spencer St Las Vegas, NV	1.0–3.0	1.0–2.0	1072	$1,548	$1.44	43d	14	1.19mi
4674 Monterey Cir #1 Las Vegas, NV	2.0	1.0	1000	$1,750	$1.75	43d	1	1.20mi
205 E Harmon Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1182	$1,950	$1.65	43d	5	1.44mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $110,000 Active 687 DOM
2. 2026-06-17
   days on market $110,000 Active 686 DOM
3. 2026-06-16
   days on market $110,000 Active 685 DOM
4. 2026-06-15
   days on market $110,000 Active 684 DOM
5. 2026-06-13
   days on market $110,000 Active 682 DOM
6. 2026-06-09
   days on market $110,000 Active 678 DOM
7. 2026-06-08
   days on market $110,000 Active 677 DOM
8. 2026-06-08
   days on market $110,000 Active 676 DOM
9. 2026-06-03
   days on market $110,000 Active 672 DOM
10. 2026-06-02
    days on market $110,000 Active 671 DOM
11. 2026-06-01
    days on market $110,000 Active 670 DOM
12. 2026-05-31
    days on market $110,000 Active 669 DOM
13. 2026-05-20
    price $110,000 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

14. 2026-04-07
    price $105,000 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

15. 2025-01-20
    price $147,000 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

16. 2024-12-01
    price $159,000 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

17. 2024-11-25
    price $172,500 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

18. 2024-11-14
    status Active 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

19. 2024-11-10
    status Pending 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

20. 2024-08-01
    price $164,800 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

21. 2024-07-26
    listed $158,000 Active 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

22. 2024-07-25
    historical $158,000 476-char remark

    Show marketing remark (476 chars)

    2 bedroom 2 full bath condo adjacent to airport but with minimal airport noise due to not being in direct flight path. Great location for workers at the airport, UNLV or Strip. Downstairs unit with large parking area outisde door to condo. Living and kitchen at front door. Separate laudry facilities. Seller would like to do a $1,067,900 Section 1031 sale with MLS# 2670865, 2732149, 2732150 and 2732151. 4 condos and one townhouse for a total of five units, all rented out.

23. 1998-06-03
    soldstatus $30,000
24. 1995-05-31
    soldstatus $26,500

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $649 · $54/mo
• Expected delta: +$168/yr (+$14/mo · 35.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,393
• − Mortgage interest: −$6,162
• − Property taxes: −$481
• − Insurance: −$550
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − HOA: −$4,080
• − Depreciation: −$3,200
• Taxable income: $1,818
• Est. tax owed @ 24.0%: −$436
• After-tax cash flow: $2,851/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): 50,196
• Household income: $46,960
• Rent vs Own: 77.2% rent · 22.8% own
• Severe rent burden: 4678.0

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 38% White 29% Two or more races 18% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1% Cuban 4%
• Common ancestry: Romanian 2% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 29% Tagalog/Filipino 6% Other Indo-European 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: ▼ -221.72%
• Current HPI: 266.4892
• Rent YoY: ▼ -1.81%
• 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

+315.1% since first listed

12 events — show timeline

• 2026-05-20 Price Changed $110,000 GLVAR
• 2026-04-07 Price Changed $105,000 GLVAR
• 2025-01-20 Price Changed $147,000 GLVAR
• 2024-12-01 Price Changed $159,000 GLVAR
• 2024-11-25 Price Changed $172,500 GLVAR
• 2024-11-14 Relisted — GLVAR
• 2024-11-10 Pending — GLVAR
• 2024-08-01 Price Changed $164,800 GLVAR
• 2024-07-26 Listed $158,000 GLVAR
• 2024-07-25 Coming Soon $158,000 GLVAR
• 1998-06-03 Sold (Public Records) $30,000 Public Records
• 1995-05-31 Sold (Public Records) $26,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $481 · +7.4% YoY. Source: county tax records.