Plan 7 Plan · Spanish Springs, NV 89441

$661,900

4 bd · 3.0 ba · 2,808 sqft · SingleFamily · 414 Days on market

Excellent condition

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Why this score? — see what drove the D- 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 +8.8/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you have been thinking that the time might be right to upgrade to a newer and perhaps even larger home, the community of Silver Canyon could be just the right choice. One of the most popular features here are the large, expansive homesites which provide space to keep your recreational "toys" right at home. Situated north of Silver Canyon Drive and Pyramid Highway in Sparks, Nevada, Silver Canyon is just a 20 minute drive from a fishing, boating and myriad of recreation at Pyramid Lake - one of the largest natural lakes in the state of Nevada. Just a short drive away is all of the amenities of Sparks and Reno, including shopping, entertainment, parks, and employment opportunities. Whether you enjoy relaxing at one of the many local parks, or taking the family for a day of fun at an amusement park, there is truly something for everyone in the nearby area. There are also several excellent golf courses not far from Silver Canyon, including Kiley Links Golf Course, Wildcreek Golf Course, and, most notable, Red Hawk Golf and Resort. We take great pride in building our homes to the highest level of quality. When you purchase a home in Silver Canyon, you are not just purchasing a home. You are investing in peace of mind and the knowledge that your family will have a place to call home and build memories for many years to come. All our homes are built for comfort and style, featuring exceptional finishes. Find out more about the beautiful homes in Silver Canyon. We would be pleased to introduce you and give you a tour.

Key facts

• Amusement park
• Golf courses
• Local parks

Tags

• LOCAL PARKS
• AMUSEMENT PARK
• GOLF COURSES
• KILEY LINKS GOLF COURSE
• WILDCREEK GOLF COURSE
• RED HAWK GOLF AND RESORT

🏗️ New construction. The $661,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $713,269.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $662k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-590 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $628k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $549k (17.0% below list).
• Recommended offer: $549k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 110d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).
• At $5,493/mo this rent would consume 53% 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 $5k of loan paydown is wiped out by about $21k 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 414 days — a 12% lower offer ($582k) 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 $549,262 (17.0% 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 414 days. Have you received any prior offers? Is the seller open to a 17% 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: 0.77% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.55%
• DSCR: 0.84
• GRM: 10.8

CMA / ARV

• ARV (median comp): $713,269
• List price: $661,900
• Delta: -7.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2314 Seaberry Dr #02	0.00mi	4/3.0	2,808 (0%)	2mo	$850,891	$303	98
2525 Coltra Springs Dr	0.24mi	4/3.0	2,808 (0%)	3mo	$728,552	$259	86
2330 Hickory Dr	0.11mi	4/3.0	2,458 (-12%)	5mo	$668,929	$272	70
11541 Hacienda Ridge Way	0.43mi	4/3.5	2,969 (+6%)	2mo	$890,000	$300	67
2356 Millville Dr	0.57mi	4/3.0	2,574 (-8%)	2mo	$739,000	$287	58
11682 Vista Park Dr	0.60mi	3/2.5 (-1)	2,636 (-6%)	2mo	$765,000	$290	53
302 Desert Chukar Dr	0.63mi	4/2.5	3,035 (+8%)	3mo	$825,000	$272	53
25 Martell Pl	0.62mi	4/3.0	3,044 (+8%)	6mo	$1,170,000	$384	52
734 Hallow Pointe Dr	0.66mi	4/3.0	2,554 (-9%)	3mo	$725,000	$284	52
918 Garden Pond Way	0.74mi	4/3.0	2,554 (-9%)	3mo	$760,000	$298	48
327 Grafton Dr	0.60mi	4/3.5	3,213 (+14%)	1mo	$775,000	$241	45
55 Nives Ct	0.62mi	4/2.0	2,440 (-13%)	6mo	$1,251,000	$513	40

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: -22.2%
• Equity multiple: 0.23×
• Total profit: $-153,079
• Equity at exit: $106,351

10-year hold

• IRR: -16.2%
• Equity multiple: 0.09×
• Total profit: $-181,354
• Equity at exit: $61,670

Cash invested: $199,715 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 29 active · 35 under contract
• Months of supply: 4.0 mo (25%/mo absorbed)
• Median asking: $724,000 ($281/sqft)
• Median days on market: 100 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: -9.7% vs 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: 10.0×

Monthly cashflow live

• Estimated rent: $5,493 medium
• Mortgage (P&I): −$3,740
• Tax est. 1.5%: −$892 /mo · $10,699/yr
• Insurance: −$297
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,153
• Net cashflow: $-590

Break-even live

Break-even rent $6,240

Max offer price $627,885

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-344	+0% $-590	+5% $-837	+10% $-1,083
Rent	-10% $-1,024	-5% $-807	+0% $-590	+5% $-373	+10% $-156
Rate	-1.0pp $-231	-0.5pp $-409	base $-590	+0.5pp $-775	+1.0pp $-963

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: $178,317
• Closing costs: $21,398
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Calle de la Plata Sparks, NV	3.0	2.0	2056	$7,900	$3.84	119d	1	0.53mi
640 Allerton Way Sparks, NV	3.0	2.0	2200	$3,200	$1.45	109d	1	0.83mi
325 Pah Rah Ridge Dr Sparks, NV	5.0	4.0	3493	$4,000	$1.15	109d	1	1.05mi

Listing history 50 events

1. 2026-09-24
   days on market $661,900 Active 414 DOM
2. 2026-09-23
   days on market $661,900 Active 413 DOM
3. 2026-09-22
   days on market $661,900 Active 412 DOM
4. 2026-09-21
   days on market $661,900 Active 411 DOM
5. 2026-09-20
   days on market $661,900 Active 410 DOM
6. 2026-09-19
   days on market $661,900 Active 409 DOM
7. 2026-09-18
   days on market $661,900 Active 408 DOM
8. 2026-09-17
   days on market $661,900 Active 407 DOM
9. 2026-09-16
   days on market $661,900 Active 406 DOM
10. 2026-09-15
    days on market $661,900 Active 405 DOM
11. 2026-09-14
    days on market $661,900 Active 404 DOM
12. 2026-09-13
    days on market $661,900 Active 403 DOM
13. 2026-09-12
    days on market $661,900 Active 402 DOM
14. 2026-09-11
    days on market $661,900 Active 401 DOM
15. 2026-09-05
    days on market $661,900 Active 395 DOM
16. 2026-09-04
    days on market $661,900 Active 394 DOM
17. 2026-09-03
    days on market $661,900 Active 393 DOM
18. 2026-08-31
    days on market $661,900 Active 390 DOM
19. 2026-08-30
    days on market $661,900 Active 389 DOM
20. 2026-08-29
    days on market $661,900 Active 388 DOM
21. 2026-08-28
    days on market $661,900 Active 387 DOM
22. 2026-08-27
    days on market $661,900 Active 386 DOM
23. 2026-08-25
    days on market $661,900 Active 384 DOM
24. 2026-08-24
    days on market $661,900 Active 383 DOM
25. 2026-08-23
    days on market $661,900 Active 382 DOM
26. 2026-08-22
    days on market $661,900 Active 381 DOM
27. 2026-08-21
    days on market $661,900 Active 380 DOM
28. 2026-08-20
    days on market $661,900 Active 379 DOM
29. 2026-08-19
    days on market $661,900 Active 378 DOM
30. 2026-08-18
    days on market $661,900 Active 377 DOM
31. 2026-08-17
    days on market $661,900 Active 376 DOM
32. 2026-08-16
    days on market $661,900 Active 375 DOM
33. 2026-08-15
    days on market $661,900 Active 374 DOM
34. 2026-08-14
    days on market $661,900 Active 373 DOM
35. 2026-08-13
    days on market $661,900 Active 372 DOM
36. 2026-08-12
    days on market $661,900 Active 371 DOM
37. 2026-08-11
    days on market $661,900 Active 370 DOM
38. 2026-08-10
    days on market $661,900 Active 369 DOM
39. 2026-08-09
    days on market $661,900 Active 368 DOM
40. 2026-08-08
    days on market $661,900 Active 367 DOM
41. 2026-08-07
    days on market $661,900 Active 366 DOM
42. 2026-08-06
    days on market $661,900 Active 365 DOM
43. 2026-08-05
    days on market $661,900 Active 364 DOM
44. 2026-08-04
    days on market $661,900 Active 363 DOM
45. 2026-08-03
    days on market $661,900 Active 362 DOM
46. 2026-07-31
    days on market $661,900 Active 359 DOM
47. 2026-07-30
    days on market $661,900 Active 358 DOM
48. 2026-07-29
    days on market $661,900 Active 357 DOM
49. 2026-07-27
    days on market $661,900 Active 355 DOM
50. 2026-07-25
    days on market $661,900 Active 353 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: $65,911
• − Mortgage interest: −$39,954
• − Property taxes: −$10,699
• − Insurance: −$3,566
• − Repairs & maintenance: −$5,273
• − Management: −$5,273
• − Depreciation: −$20,750
• Taxable loss: −$19,604
• Est. tax savings @ 24.0%: +$4,705
• After-tax cash flow: $-2,376/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with no major repairs needed. It is move-in ready and has the potential to be further enhanced with landscaping and painting to increase its value.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make a home look more appealing ↑
• Both Lighting — Modern lighting can improve the home's ambiance and 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

1 event — show timeline

• 2025-08-06 Listed $661,900 Zillow