1390 Vegas Valley Dr #26 · Winchester, NV 89169

$119,000

2 bd · 1.0 ba · 863 sqft · Condo public records · 392 Days on market

Built 1970 $570/mo HOA · 30% 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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +4.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location Location Location! Just minutes from the world-renowned Strip. Charming floor plan with a cozy balcony to unwind and enjoy the city lights. Freshly painted and updated flooring throughout. Kitchen with freshly painted cabinets, bright sunny window and expansive counter space. Dining space can be used with a bit of creativity to function as an office if you work remotely. Over sized bedrooms. Primary with closet organization. Patio has storage options. Dedicated parking space with convenient street parking.

Key facts

• Cozy balcony
• $570 HOA
• Parking

Tags

• COZY BALCONY
• FRESHLY PAINTED CABINETS
• EXPANSIVE COUNTER SPACE
• DEDICATED PARKING SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#3 in NV, #2,272 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment 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 falling (-4.4%/yr); 178 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $1,870/mo this rent would consume 55% of the median local household income ($41k/yr) (locally 2744% of renters already pay >50% of income on rent) — 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 $823 of loan paydown is wiped out by about $4k 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 392 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $36k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• 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.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 392 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 1970 — 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. 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?
8. 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.
9. 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.
10. 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: 1.57% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 5.3

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: -10.1%
• Equity multiple: 0.65×
• Total profit: $-11,720
• Equity at exit: $17,743

10-year hold

• IRR: -8.2%
• Equity multiple: 0.59×
• Total profit: $-13,738
• Equity at exit: $10,289

Cash invested: $33,320 (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 89169

• Home prices YoY: -33.4%
• Rents YoY: -4.4%
• Active inventory: 178
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$624
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$50
• HOA: −$570
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $200

Break-even live

Break-even rent $1,617

Max offer price $119,000

Occupancy floor 84%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 E Desert Inn Rd Las Vegas, NV	1.0–2.0	1.0–2.0	1077	$1,800	$1.67	43d	5	0.72mi
2831 Geary Pl #2909 Las Vegas, NV	2.0	1.0	1112	$1,899	$1.71	43d	1	0.86mi
1040 Canosa Ave Las Vegas, NV	2.0	1.0	969	$1,745	$1.80	43d	1	0.90mi
3152 S Eastern Ave Las Vegas, NV	2.0	1.0	987	$1,450	$1.47	23d	1	0.94mi
3168 S Eastern Ave #48 Las Vegas, NV	1.0	1.0	671	$1,050	$1.56	23d	1	0.95mi
511 E Sahara Ave Las Vegas, NV	1.0–2.0	1.0	900	$1,600	$1.78	43d	3	1.02mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.0–2.0	1109	$3,500	$3.15	4d	3	1.06mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1109	$3,500	$3.15	3d	3	1.06mi
1021 Griffith Ave Las Vegas, NV	3.0	2.0	1094	$2,200	$2.01	43d	1	1.13mi
222 Karen Ave #2904 Las Vegas, NV	1.0	1.5	814	$2,200	$2.70	1d	1	1.14mi
222 Karen Ave #3005 Las Vegas, NV	1.0	1.5	814	$2,400	$2.95	23d	1	1.14mi
222 Karen Ave #3203 Las Vegas, NV	1.0	2.0	814	$2,500	$3.07	43d	1	1.14mi
222 Karen Ave #306 Las Vegas, NV	1.0	2.0	814	$2,300	$2.83	43d	1	1.14mi
222 Karen Ave #1105 Las Vegas, NV	1.0	1.5	814	$1,990	$2.44	43d	1	1.14mi
222 Karen Ave #1004 Las Vegas, NV	1.0	1.5	814	$2,300	$2.83	23d	1	1.14mi
1601 E Katie Ave Las Vegas, NV	1.0–2.0	1.0–2.0	809	$1,852	$2.29	43d	13	1.19mi
525 E Saint Louis Ave Las Vegas, NV	2.0	2.0	1094	$1,525	$1.39	43d	1	1.23mi
2137 E Saint Louis Ave Las Vegas, NV	3.0	1.0	1028	$1,700	$1.65	43d	1	1.25mi
1700 E Viking Rd Las Vegas, NV	2.0	2.0	1085	$1,662	$1.53	43d	3	1.26mi
595 S Royal Crest Cir #18 Las Vegas, NV	2.0	1.0	816	$1,575	$1.93	43d	1	1.28mi
3550 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	947	$1,425	$1.50	43d	20	1.36mi
3930 University Center Dr Las Vegas, NV	2.0	2.0–3.0	1200	$1,725	$1.44	43d	2	1.45mi
200 W Sahara Ave #1611 Las Vegas, NV	1.0	1.0	1090	$1,800	$1.65	43d	1	1.49mi

HOA detail condo

• Monthly dues: $570 · $6,840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $119,000 Active 392 DOM
2. 2026-06-17
   days on market $119,000 Active 391 DOM
3. 2026-06-16
   days on market $119,000 Active 390 DOM
4. 2026-06-15
   days on market $119,000 Active 389 DOM
5. 2026-06-13
   days on market $119,000 Active 387 DOM
6. 2026-06-09
   days on market $119,000 Active 383 DOM
7. 2026-06-08
   days on market $119,000 Active 382 DOM
8. 2026-06-07
   days on market $119,000 Active 381 DOM
9. 2026-06-03
   days on market $119,000 Active 377 DOM
10. 2026-06-02
    days on market $119,000 Active 376 DOM
11. 2026-06-01
    days on market $119,000 Active 375 DOM
12. 2026-05-31
    days on market $119,000 Active 374 DOM
13. 2026-03-23
    price $119,000 520-char remark

    Show marketing remark (520 chars)

    Location Location Location! Just minutes from the world-renowned Strip. Charming floor plan with a cozy balcony to unwind and enjoy the city lights. Freshly painted and updated flooring throughout. Kitchen with freshly painted cabinets, bright sunny window and expansive counter space. Dining space can be used with a bit of creativity to function as an office if you work remotely. Over sized bedrooms. Primary with closet organization. Patio has storage options. Dedicated parking space with convenient street parking.

14. 2025-10-29
    price $139,000 520-char remark

    Show marketing remark (520 chars)

    Location Location Location! Just minutes from the world-renowned Strip. Charming floor plan with a cozy balcony to unwind and enjoy the city lights. Freshly painted and updated flooring throughout. Kitchen with freshly painted cabinets, bright sunny window and expansive counter space. Dining space can be used with a bit of creativity to function as an office if you work remotely. Over sized bedrooms. Primary with closet organization. Patio has storage options. Dedicated parking space with convenient street parking.

15. 2025-09-05
    price $149,000 520-char remark

    Show marketing remark (520 chars)

    Location Location Location! Just minutes from the world-renowned Strip. Charming floor plan with a cozy balcony to unwind and enjoy the city lights. Freshly painted and updated flooring throughout. Kitchen with freshly painted cabinets, bright sunny window and expansive counter space. Dining space can be used with a bit of creativity to function as an office if you work remotely. Over sized bedrooms. Primary with closet organization. Patio has storage options. Dedicated parking space with convenient street parking.

16. 2025-05-22
    listed $155,000 Active 520-char remark

    Show marketing remark (520 chars)

    Location Location Location! Just minutes from the world-renowned Strip. Charming floor plan with a cozy balcony to unwind and enjoy the city lights. Freshly painted and updated flooring throughout. Kitchen with freshly painted cabinets, bright sunny window and expansive counter space. Dining space can be used with a bit of creativity to function as an office if you work remotely. Over sized bedrooms. Primary with closet organization. Patio has storage options. Dedicated parking space with convenient street parking.

17. 2025-05-22
    historical

    Show marketing remark (520 chars)

    Location Location Location! Just minutes from the world-renowned Strip. Charming floor plan with a cozy balcony to unwind and enjoy the city lights. Freshly painted and updated flooring throughout. Kitchen with freshly painted cabinets, bright sunny window and expansive counter space. Dining space can be used with a bit of creativity to function as an office if you work remotely. Over sized bedrooms. Primary with closet organization. Patio has storage options. Dedicated parking space with convenient street parking.

18. 2025-04-23
    price $159,000
19. 2025-04-10
    price $169,000
20. 2025-03-07
    listed $179,000 Active
21. 2025-01-23
    soldstatus $110,000
22. 2009-01-23
    soldstatus $30,000
23. 2009-01-23
    historical
24. 2008-12-24
    listed $30,000
25. 1996-08-16
    soldstatus $54,900

ⓘ 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: $408 · $34/mo
• Projected year-2 tax: $702 · $59/mo
• Expected delta: +$294/yr (+$25/mo · 72.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,444
• − Mortgage interest: −$6,666
• − Property taxes: −$408
• − Insurance: −$595
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − HOA: −$6,840
• − Depreciation: −$3,462
• Taxable income: $883
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $2,188/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 — Winchester

• Score: 79/100
• State rank: #3
• US rank: #2272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winchester, NV
• County: Clark County · 2,306,105 people
• City population: 39,883
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 22,171
• Household income: $40,904
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2744.0

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 33% White 30% Black 23% Two or more races 13% Asian 9% Native American 2%
• Hispanic origin (detail): Mexican 21% Cuban 5%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 30% · Canada, China
• Languages at home: 59% English-only · Spanish 27% Tagalog/Filipino 4% Other Asian/Pacific 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: ▼ -136.91%
• Current HPI: 272.6449
• Rent YoY: ▼ -4.43%
• 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

+116.8% since first listed

13 events — show timeline

• 2026-03-23 Price Changed $119,000 GLVAR
• 2025-10-29 Price Changed $139,000 GLVAR
• 2025-09-05 Price Changed $149,000 GLVAR
• 2025-05-22 Listing Removed — GLVAR
• 2025-05-22 Listed $155,000 GLVAR
• 2025-04-23 Price Changed $159,000 GLVAR
• 2025-04-10 Price Changed $169,000 GLVAR
• 2025-03-07 Listed $179,000 GLVAR
• 2025-01-23 Sold (Public Records) $110,000 Public Records
• 2009-01-23 Listing Removed — GLVAR
• 2009-01-23 Sold (MLS) $30,000 GLVAR
• 2008-12-24 Listed $30,000 GLVAR
• 1996-08-16 Sold (Public Records) $54,900 Public Records

Property tax history

+0.0%/yr

Latest (2025): $408 · +7.3% YoY. Source: county tax records.