281 W Ellendale St · Pahrump, NV 89048

$124,999

2 bd · 2.0 ba · 813 sqft · Manufactured public records · 112 Days on market

Built 1991 3,920 sqft lot $154/sqft · 24% below area Est $165k · 24% under $30/mo HOA · 2% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.5/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

Key facts

• 3,920 sq ft lot
• Community pool
• Built 1991

🏷️ Possibly a rental listed for sale. The $124,999 price doesn't fit this home's estimated sale value (~$164,748) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.4% in Pahrump — 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 68/100 on livability (#30 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, crime F.
• Nye County School District (rural): math 20% / reading 33% proficiency, ranked #16 of 17 in NV (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.7%/yr); 1116 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Nye County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,749 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.99%
• DSCR: 1.40
• GRM: 7.9

CMA / ARV

• ARV (median comp): $164,748
• List price: $124,999
• Delta: -24.13%
• 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
261 Ferndell St	0.04mi	2/2.0	840 (+3%)	7mo	$135,000	$161	86
310 Ferndell St	0.03mi	2/1.0	784 (-4%)	12mo	$87,500	$112	79
121 Wilderness Way	0.13mi	2/2.0	814 (+0%)	18mo	$154,000	$189	79
91 Steptoe St	0.20mi	2/1.0	788 (-3%)	11mo	$200,000	$254	72
280 Copper Flats Dr	0.09mi	2/2.0	932 (+15%)	1mo	$175,000	$188	71
231 Ferndell St	0.06mi	2/1.0	752 (-8%)	12mo	$190,000	$253	71
130 W Rudy Rd	0.19mi	2/1.5	720 (-11%)	0mo	$140,000	$194	70
280 W Bonnie Claire Ct	0.13mi	2/2.0	720 (-11%)	7mo	$55,000	$76	69
230 Greenwater St	0.07mi	2/1.5	903 (+11%)	10mo	$162,000	$179	68
120 Potter Pl	0.25mi	2/2.0	784 (-4%)	17mo	$110,000	$140	68
1430 Comstock Cir	0.24mi	2/2.0	837 (+3%)	20mo	$125,000	$149	68
320 W Ivy Ln	0.13mi	2/2.0	934 (+15%)	12mo	$130,000	$139	59

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 · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,940
• Equity at exit: $18,638

10-year hold

• IRR: 6.4%
• Equity multiple: 1.47×
• Total profit: $16,492
• Equity at exit: $10,808

Cash invested: $35,000 (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 89048

• Home prices YoY: -7.2%
• Rents YoY: 2.7%
• Active inventory: 1116
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,318 high
• Mortgage (P&I): −$656
• Tax from tax record: −$42 /mo · $501/yr
• Insurance: −$52
• HOA: −$30
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $262

Break-even live

Break-even rent $986

Max offer price $124,999

Occupancy floor 75%

Sensitivity live

Price	-10% $333	-5% $298	+0% $262	+5% $227	+10% $192
Rent	-10% $158	-5% $210	+0% $262	+5% $314	+10% $366
Rate	-1.0pp $325	-0.5pp $294	base $262	+0.5pp $230	+1.0pp $197

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 Sixshooter Ave Unit 3C Pahrump, NV	2.0	2.0	910	$1,150	$1.26	44d	1	0.76mi
1401 Ogallala St Unit 4 Pahrump, NV	3.0	2.0	1009	$1,350	$1.34	44d	1	0.76mi
1081 Quartzite Ave #2 Pahrump, NV	2.0	2.0	984	$1,245	$1.27	44d	1	0.88mi
1080 S Potro Ave #3 Pahrump, NV	2.0	2.0	984	$1,245	$1.27	44d	1	0.92mi
1041 Marne Ct Unit 4 Pahrump, NV	2.0	2.0	901	$1,235	$1.37	44d	1	1.17mi
1480 W Irons St Pahrump, NV	2.0	2.0	980	$1,600	$1.63	44d	1	1.38mi
1100 Hall Ave Unit 4 Pahrump, NV	3.0	2.0	1085	$1,650	$1.52	44d	1	1.48mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 42 events

1. 2026-06-02
   status $124,999 Pending 112 DOM
2. 2026-06-01
   days on market $124,999 Active 112 DOM
3. 2026-05-31
   days on market $124,999 Active 111 DOM
4. 2026-05-30
   days on market $124,999 Active 110 DOM
5. 2026-05-12
   price $124,999 183-char remark

   Show marketing remark (183 chars)

   2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

6. 2026-05-09
   price $127,499 183-char remark

   Show marketing remark (183 chars)

   2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

7. 2026-05-01
   price $127,999 183-char remark

   Show marketing remark (183 chars)

   2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

8. 2026-04-14
   price $128,888 183-char remark

   Show marketing remark (183 chars)

   2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

9. 2026-03-27
   price $129,999 183-char remark

   Show marketing remark (183 chars)

   2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

10. 2026-03-18
    price $133,838 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

11. 2026-03-15
    price $135,838 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

12. 2026-02-27
    price $135,858 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

13. 2026-02-20
    price $135,868 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

14. 2026-02-14
    price $135,878 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

15. 2026-02-09
    listed $135,888 Active 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

16. 2026-01-19
    historical $135,888 183-char remark

    Show marketing remark (183 chars)

    2 bedrooms, 2 baths in the up-and-coming Comstock Park. Ready for a flip or for a handy man owner. A/C unit installed. Agent owned. Assumable mortgage $600 per month call for details.

17. 2025-12-11
    historical
18. 2025-12-05
    price $128,555
19. 2025-11-22
    status Active
20. 2025-11-21
    price $128,888
21. 2025-06-04
    historical
22. 2025-05-30
    status Active
23. 2025-03-01
    listed $135,888 Active
24. 2025-02-18
    historical
25. 2022-10-12
    soldstatus $129,000
26. 2020-02-21
    soldstatus $69,000 Sold
27. 2020-02-20
    soldstatus $69,000
28. 2019-12-26
    status Pending
29. 2019-10-17
    price $74,900
30. 2019-10-17
    listed $174,900 Active
31. 2013-10-18
    soldstatus $21,000 Sold
32. 2013-10-08
    status Pending
33. 2013-08-30
    listed $24,900 Exclusive Right
34. 2011-12-16
    soldstatus $16,500 Sold
35. 2011-11-09
    historical Contingent Offer
36. 2011-10-25
    listed $17,000 Exclusive Right
37. 2011-10-15
    historical
38. 2011-08-23
    price $19,000
39. 2011-08-14
    price $28,500
40. 2011-08-14
    listed $28,900 Exclusive Right
41. 2005-07-14
    soldstatus $40,000
42. 2005-04-12
    soldstatus $28,000

ⓘ 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: $501 · $42/mo
• Projected year-2 tax: $737 · $61/mo
• Expected delta: +$237/yr (+$20/mo · 47.3%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 5 d/yr ≥103°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,822
• − Mortgage interest: −$7,002
• − Property taxes: −$501
• − Insurance: −$625
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − HOA: −$360
• − Depreciation: −$3,636
• Taxable income: $1,166
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $2,867/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: Nye County School District
• NCES district ID: 3200360
• Math proficiency: 20% ▼ -6.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $41,447
• Composite: 22.43/100
• National rank: #8110
• State rank: #16 of 17 in NV

Livability — Pahrump

• Score: 68/100
• State rank: #30
• US rank: #9226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pahrump, NV
• County: Nye County · 47,491 people
• City population: 47,491
• Metro: Pahrump, NV
• Population (ZIP): 26,486
• Household income: $61,367
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 939.0

Population outlook (Nye County) Hauer SSP2

• Today (2025): 40,727 people
• By 2030: 38,812 · -4.7%
• By 2040: 33,952 · -16.6%
• By 2050: 29,393 · -27.8%
• By 2075: 21,122 · -48.1%
• By 2100: 14,400 · -64.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 13% Two or more races 12% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 9% Tagalog/Filipino 1%

Political lean MEDSL · Nye

• 2024 margin: Solid R (+42.2) · D 28.0% · R 70.2% · Other 1.8%
• 2008→2024 swing: -28.8pp toward R · 2008: -13.4pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.4 2016: R+42.0 2012: R+24.2 2008: R+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.52%
• Current HPI: 277.4486
• Rent YoY: ▲ 2.73%
• Metro: Pahrump, 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

+346.4% since first listed

38 events — show timeline

• 2026-05-12 Price Changed $124,999 GLVAR
• 2026-05-09 Price Changed $127,499 GLVAR
• 2026-05-01 Price Changed $127,999 GLVAR
• 2026-04-14 Price Changed $128,888 GLVAR
• 2026-03-27 Price Changed $129,999 GLVAR
• 2026-03-18 Price Changed $133,838 GLVAR
• 2026-03-15 Price Changed $135,838 GLVAR
• 2026-02-27 Price Changed $135,858 GLVAR
• 2026-02-20 Price Changed $135,868 GLVAR
• 2026-02-14 Price Changed $135,878 GLVAR
• 2026-02-09 Listed $135,888 GLVAR
• 2026-01-19 Coming Soon $135,888 GLVAR
• 2025-12-11 Listing Removed — GLVAR
• 2025-12-05 Price Changed $128,555 GLVAR
• 2025-11-22 Relisted — GLVAR
• 2025-11-21 Price Changed $128,888 GLVAR
• 2025-06-04 Listing Removed — GLVAR
• 2025-05-30 Relisted — GLVAR
• 2025-03-01 Listed $135,888 GLVAR
• 2025-02-18 Coming Soon — GLVAR
• 2022-10-12 Sold (Public Records) $129,000 Public Records
• 2020-02-21 Sold (MLS) $69,000 GLVAR
• 2020-02-20 Sold (Public Records) $69,000 Public Records
• 2019-12-26 Pending — GLVAR
• 2019-10-17 Price Changed $74,900 GLVAR
• 2019-10-17 Listed $174,900 GLVAR
• 2013-10-18 Sold (MLS) $21,000 GLVAR
• 2013-10-08 Pending — GLVAR
• 2013-08-30 Listed $24,900 GLVAR
• 2011-12-16 Sold (MLS) $16,500 GLVAR
• 2011-11-09 Contingent — GLVAR
• 2011-10-25 Listed $17,000 GLVAR
• 2011-10-15 Listing Removed — GLVAR
• 2011-08-23 Price Changed $19,000 GLVAR
• 2011-08-14 Price Changed $28,500 GLVAR
• 2011-08-14 Listed $28,900 GLVAR
• 2005-07-14 Sold (Public Records) $40,000 Public Records
• 2005-04-12 Sold (Public Records) $28,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $501 · +6.4% YoY. Source: county tax records.