509 Fir St · Elko, NV 89801

$310,000

2 bd · 1.0 ba · 1,716 sqft · Manufactured public records · 3 Days on market

Built 1932 3,049 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

With pride of ownership welcome to 509 Fir street. This 2 bedroom, 1 bath tree street charmer sits on a corner lot that is fully fenced with established yard, trees, and automatic sprinklers that were installed in 2022. New Roof installed during 2020. Upon entering, you'll find a delightful living room followed by a kitchen with a cute farmhouse feel. The kitchen has brand-new stainless steel appliances and a generously sized window that allows natural light. The main level also features two bedrooms and an adorable bathroom that still retains its old-school charm from its original construction in the 1930s. There is a new Mini Split system that offers heating and cooling for entire home. Additional features of the home include the laundry downstairs, an additional room for storage and a utility room. Schedule an appointment today to preview this adorable home.

Key facts

• Mini-split system
• Laundry area
• Unfinished basement

Tags

• MINI-SPLIT SYSTEM
• ELECTRIC HEAT
• EFFICIENT KITCHEN
• FARMHOUSE SINK
• UNFINISHED BASEMENT
• LAUNDRY AREA

Property features AI

Exterior

• Parking: Attached garage with 1 covered/garage space
• Utilities: Public water
• Home design: Single-family residence (residential property)
• Construction: Metal siding
• Exterior features: Fully fenced yard; Asphalt roof

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator; Gas water heater; Water softener
• Bedrooms: 7 total rooms (includes bedroom count within total rooms)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (electric); Ductless cooling; Ceiling fans
• Interior features: Ceiling fans; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $310k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (19.4% below list).
• Recommended offer: $250k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.0% in Elko — 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 76/100 on livability (#11 in NV, #3,528 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: crime C-, health & safety C-, commute D-.
• Elko County School District (town): math 22% / reading 38% proficiency, ranked #9 of 17 in NV (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 280 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 120 units permitted in Elko County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Elko County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $260k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,000 (19.4% below list)

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-44,365
• Equity at exit: $46,222

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-31,416
• Equity at exit: $26,803

Cash invested: $86,800 (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 89801

• Active inventory: 280
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,626
• Tax from tax record: −$126 /mo · $1,513/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $94

Break-even live

Break-even rent $2,381

Max offer price $310,000

Occupancy floor 91%

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1729 Village Pkwy Elko, NV	3.0	2.0	1522	$2,500	$1.64	44d	1	1.36mi

Listing history 5 events

1. 2026-06-19
   status $310,000 Pending 3 DOM
2. 2026-06-18
   statusdays on market $310,000 Active 3 DOM
3. 2026-06-12
   statusdays on market $310,000 Pending 2 DOM
4. 2026-06-09
   remarks 699-char remark
5. 2026-06-09
   listed $310,000 Active 1 DOM

ⓘ 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: $1,513 · $126/mo
• Projected year-2 tax: $1,829 · $152/mo
• Expected delta: +$316/yr (+$26/mo · 20.9%)

ⓘ 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 9/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$17,365
• − Property taxes: −$1,513
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$9,018
• Taxable loss: −$4,246
• Est. tax savings @ 24.0%: +$1,019
• After-tax cash flow: $2,148/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: Elko County School District
• NCES district ID: 3200120
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $70,371
• Composite: 28.09/100
• National rank: #6831
• State rank: #9 of 17 in NV

Livability — Elko

• Score: 76/100
• State rank: #11
• US rank: #3528

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elko, NV
• Population (ZIP): 26,070

Population outlook (Elko County) Hauer SSP2

• Today (2025): 56,797 people
• By 2030: 59,107 · +4.1%
• By 2040: 63,513 · +11.8%
• By 2050: 66,996 · +18.0%
• By 2075: 73,785 · +29.9%
• By 2100: 72,352 · +27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 27% Two or more races 15% Native American 5% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Dutch 2% Italian 2% Portuguese 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 82% English-only · Spanish 15% Chinese 1%

Political lean MEDSL · Elko

• 2024 margin: Solid R (+56.6) · D 20.6% · R 77.2% · Other 2.1%
• 2008→2024 swing: -16.2pp toward R · 2008: -40.5pp · 2024: -56.6pp
• All cycles: 2024: R+56.6 2020: R+55.5 2016: R+54.7 2012: R+53.2 2008: R+40.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.07%
• Current HPI: 146.8186
• Rent YoY: —
• Metro: —
• 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

+306.8% since first listed

9 events — show timeline

• 2026-06-09 Listed $310,000 ECRMLS
• 2023-08-30 Sold (MLS) $260,000 ECRMLS
• 2023-08-14 Delisted — ECRMLS
• 2023-08-02 Pending — ECRMLS
• 2023-07-31 Listed $260,000 ECRMLS
• 2020-07-24 Sold (MLS) $209,000 ECRMLS
• 2020-06-16 Listed $209,000 ECRMLS
• 2006-10-17 Sold (Public Records) $110,000 Public Records
• 1994-01-31 Sold (Public Records) $76,200 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,513 · +3.0% YoY. Source: county tax records.