6550 Pyramid Way · Sparks, NV 89436

$137,500

3 bd · 2.0 ba · — sqft · Other · 12 Days on market

Built 1978 Excellent condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Rent growth +4.3/5.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully Remodeled Double-Wide in Oasis Mobile Home Park Turnkey Living at Its Finest! Welcome to your freshly updated, move-in-ready home located in the highly desirable Oasis Mobile Home Park. Completed in April 2026, this spacious 3-bedroom, 2-bathroom double-wide has been meticulously remodeled from top to bottom, offering modern finishes and thoughtful upgrades throughout its comfortable 1,100 square feet of living space. Key Features & amp; Modern Upgrades Freshly Remodeled (April 2026): Enjoy the peace of mind that comes with brand-new modern upgrades, contemporary flooring, and stylish fixtures throughout the entire home. Spacious Layout: Boasting 3 generously sized bedrooms

Key facts

• Bright kitchen
• Modern upgrades
• Updated cabinetry

Tags

• REMODELED DOUBLE-WIDE
• MODERN UPGRADES
• UPDATED CABINETRY
• BRIGHT KITCHEN
• WELL-MAINTAINED COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $138k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $138k).
• Cap rate 17.2% vs local median 3.0% in Sparks — 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 74/100 on livability (#16 in NV, #4,708 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment B; Watch: schools C-, cost of living C-, crime D-.
• 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.
• Market conditions: Rents rising fast (+7.3%/yr); 251 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,500

Questions for the listing agent

1. Built in 1978 — 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. Crime grade is D 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?
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: 2.02% ✓
• Cap rate: 17.18%
• Cash-on-cash: 38.87%
• DSCR: 2.73
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.26% rent growth · sell at horizon

5-year hold

• IRR: 39.8%
• Equity multiple: 2.81×
• Total profit: $69,611
• Equity at exit: $20,502

10-year hold

• IRR: 48.2%
• Equity multiple: 6.68×
• Total profit: $218,757
• Equity at exit: $11,888

Cash invested: $38,500 (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 89436

• Home prices YoY: -21.1%
• Rents YoY: 7.3%
• Active inventory: 251
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,781 high
• Mortgage (P&I): −$721
• Tax est. 1.5%: −$172 /mo · $2,062/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $1,247

Break-even live

Break-even rent $1,203

Max offer price $137,500

Occupancy floor 50%

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5065 Pradera St Sparks, NV	3.0	2.0	1642	$2,695	$1.64	44d	1	0.75mi
4791 Mesa Meadows Dr Sparks, NV	3.0	2.0	1839	$4,500	$2.45	23d	1	0.80mi
1071 Village Knoll Dr Sparks, NV	3.0	2.0	1673	$2,995	$1.79	14d	1	0.82mi
950 Henry Orr Pkwy Sparks, NV	2.0–3.0	2.0–2.5	1543	$3,049	$1.98	13d	11	1.06mi
6016 Barrett Ct Sparks, NV	3.0	2.0	1728	$2,650	$1.53	21d	1	1.13mi
5360 Corral Dr Sun Valley, NV	3.0	2.0	1200	$1,900	$1.58	14d	1	1.18mi
1305 Par Three Dr Sparks, NV	2.0	2.0	1623	$2,700	$1.66	44d	1	1.28mi
1107 Winter Hawk Way Unit NA Sparks, NV	3.0	2.5	2090	$2,795	$1.34	14d	1	1.31mi
1372 Boardwalk Pl Sparks, NV	2.0	2.0	1173	$2,100	$1.79	14d	1	1.33mi
1570 Iratcabal Dr Sparks, NV	3.0	2.0	2003	$2,700	$1.35	21d	1	1.34mi
4550 Mount Bachelor Dr Sparks, NV	3.0	2.0	1754	$2,575	$1.47	44d	1	1.41mi
5750 Vista Palomar Way #102 Sparks, NV	3.0	2.5	1225	$1,995	$1.63	44d	1	1.42mi
3686 4th St Sparks, NV	3.0	3.0	1760	$2,750	$1.56	23d	1	1.44mi
3654 Koskela Dr Sparks, NV	3.0	2.0	1700	$2,700	$1.59	44d	1	1.49mi

Listing history 10 events

1. 2026-06-18
   days on market $137,500 Active 12 DOM
2. 2026-06-17
   days on market $137,500 Active 11 DOM
3. 2026-06-16
   days on market $137,500 Active 10 DOM
4. 2026-06-15
   days on market $137,500 Active 9 DOM
5. 2026-06-14
   days on market $137,500 Active 7 DOM
6. 2026-06-10
   days on market $137,500 Active 4 DOM
7. 2026-06-09
   days on market $137,500 Active 3 DOM
8. 2026-06-08
   days on market $137,500 Active 2 DOM
9. 2026-06-07
   remarks 695-char remark
10. 2026-06-07
    pricestatusdays on marketlisting id $137,500 Active 1 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 4/10 Moderate 6 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 19 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,375
• − Mortgage interest: −$7,702
• − Property taxes: −$2,062
• − Insurance: −$688
• − Repairs & maintenance: −$2,670
• − Management: −$2,670
• − Depreciation: −$4,000
• Taxable income: $13,583
• Est. tax owed @ 24.0%: −$3,260
• After-tax cash flow: $11,703/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 · 2 photos

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs or maintenance needed. It is highly upgraded and move-in ready, making it an attractive investment for both resale and rental markets.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value
• Both Smart home integration — Enhances comfort and energy efficiency, attracting buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value ↑
• Both Smart home integration — Enhances comfort and energy efficiency, attracting buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

Livability — Sparks

• Score: 74/100
• State rank: #16
• US rank: #4708

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washoe County · 454,252 people
• City population: 117,367
• Metro: Reno, NV
• Population (ZIP): 49,544
• Household income: $114,100
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 1163.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 21% Two or more races 13% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 5% Lithuanian 3% Portuguese 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 85% English-only · Spanish 10% Tagalog/Filipino 2% Vietnamese 1%

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: ▼ -74.44%
• Current HPI: 278.559
• Rent YoY: ▲ 7.26%
• Metro: Reno, 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

1 event — show timeline

• 2026-06-07 Listed $137,500 FSBO.com