628 Triest Ct

Las Vegas, NV 89110

$610,000D

8 bd · 4.0 ba · 2,924 sqft · Built 1984 · MultiFamily · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,839/mo
• Mortgage (P&I): −$3,199
• Tax + insurance: −$441
• HOA: −$0
• Vac / Maint / Mgmt: −$1,016
• Net cashflow: $183/mo
• Annual: $2,201/yr
• Cap rate: 6.65%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• 1% rule: 0.79%
• Cash to close: $170,800

Investor read

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $610k.
• At list price, monthly cash flow is $183 ($2k/yr) — positive. Per door: $46/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $484k (20.7% below list).
• It's been on market 139 days — a 12% lower offer ($537k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $484k (20.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• 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: Moore William K Es (math 12% / reading 22%, grade F, #311 of 402 statewide, top 82%, 560 students, 100% FRL); Robison Dell H Ms (math 4% / reading 17%, grade F, #105 of 109 statewide, top 97%, 760 students, 100% FRL); Desert Pines Hs (math 5% / reading 20%, grade F, #116 of 131 statewide, top 88%, 3,151 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 13% at this address vs 30% district-wide (-17 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); 261 active listings in the ZIP; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $340k; list at $610k implies a 79% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $4,839/mo this rent would consume 95% of the median local household income ($61k/yr) (locally 3134% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 139 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.