332 Logan Dr · Spring Creek, NV 89815

$155,000

3 bd · 2.0 ba · 824 sqft · Manufactured · 41 Days on market

Built 1990 1.09 ac lot Est $147k · 5% over $83/mo HOA · 4% of rent

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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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +5.2/15.0
• Appreciation +5.1/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this recently renovated 3-bedroom, 2-bathroom single-wide trailer nestled in the serene community of Spring Creek, Nevada. Offering a perfect blend of modern updates and cozy charm. This home is just a short drive from local amenities and offers easy access to outdoor recreation, making it an ideal retreat for anyone looking to embrace the Nevada lifestyle. Schedule your showing today!

Key facts

• 1.09 acre lot
• Built 1990
• Listed 41 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.0% in Spring Creek — 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 68/100 on livability (#32 in NV) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: schools C-, health & safety C-, amenities F.
• 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: 126 active listings in the ZIP; solid renter incomes; 120 units permitted in Elko County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $169 appreciation (0.1% local appreciation)).
• Elko County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.29% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.29%
• DSCR: 1.72
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $147,496
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
398 Smokey Dr	0.38mi	3/2.0	924 (+12%)	2mo	$180,000	$195	61
787 Rustic Ct	0.41mi	2/2.0 (-1)	924 (+12%)	1mo	$165,000	$179	55
305 Kimble Dr	0.55mi	3/2.0	924 (+12%)	4mo	$165,000	$179	50
738 Hayland Dr	0.55mi	3/1.0	924 (+12%)	2mo	$100,000	$108	48
376 Merino Dr	0.53mi	3/2.0	924 (+12%)	20mo	$170,000	$184	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.78×
• Total profit: $33,764
• Equity at exit: $45,855

10-year hold

• IRR: 20.4%
• Equity multiple: 3.28×
• Total profit: $98,884
• Equity at exit: $55,800

Cash invested: $43,400 (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 89815

• Home prices YoY: 0.1%
• Active inventory: 126
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,007 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$36 /mo · $431/yr
• Insurance: −$65
• HOA: −$83
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $589

Break-even live

Break-even rent $1,261

Max offer price $155,000

Occupancy floor 66%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $83 · $996/yr

Listing history 7 events

1. 2025-03-21
   soldstatus Closed 399-char remark

   Show marketing remark (399 chars)

   Welcome to this recently renovated 3-bedroom, 2-bathroom single-wide trailer nestled in the serene community of Spring Creek, Nevada. Offering a perfect blend of modern updates and cozy charm. This home is just a short drive from local amenities and offers easy access to outdoor recreation, making it an ideal retreat for anyone looking to embrace the Nevada lifestyle. Schedule your showing today!

2. 2025-03-21
   soldstatus $149,800

   Show marketing remark (399 chars)

   Welcome to this recently renovated 3-bedroom, 2-bathroom single-wide trailer nestled in the serene community of Spring Creek, Nevada. Offering a perfect blend of modern updates and cozy charm. This home is just a short drive from local amenities and offers easy access to outdoor recreation, making it an ideal retreat for anyone looking to embrace the Nevada lifestyle. Schedule your showing today!

3. 2025-03-17
   status Under Contract
4. 2025-02-22
   historical Active Under Contract 399-char remark

   Show marketing remark (399 chars)

   Welcome to this recently renovated 3-bedroom, 2-bathroom single-wide trailer nestled in the serene community of Spring Creek, Nevada. Offering a perfect blend of modern updates and cozy charm. This home is just a short drive from local amenities and offers easy access to outdoor recreation, making it an ideal retreat for anyone looking to embrace the Nevada lifestyle. Schedule your showing today!

5. 2025-02-04
   listed $155,000 Active
6. 2025-01-09
   listed $155,000 Active 399-char remark

   Show marketing remark (399 chars)

   Welcome to this recently renovated 3-bedroom, 2-bathroom single-wide trailer nestled in the serene community of Spring Creek, Nevada. Offering a perfect blend of modern updates and cozy charm. This home is just a short drive from local amenities and offers easy access to outdoor recreation, making it an ideal retreat for anyone looking to embrace the Nevada lifestyle. Schedule your showing today!

7. 1996-03-26
   soldstatus $23,000

ⓘ 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: $431 · $36/mo
• Projected year-2 tax: $914 · $76/mo
• Expected delta: +$483/yr (+$40/mo · 112.0%)

ⓘ 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 10/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,082
• − Mortgage interest: −$8,682
• − Property taxes: −$431
• − Insurance: −$775
• − Repairs & maintenance: −$1,927
• − Management: −$1,927
• − HOA: −$996
• − Depreciation: −$4,509
• Taxable income: $4,835
• Est. tax owed @ 24.0%: −$1,160
• After-tax cash flow: $5,908/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 — Spring Creek

• Score: 68/100
• State rank: #32
• US rank: #9445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Creek, NV
• County: Elko County · 15,636 people
• City population: 15,636
• Metro: Elko, NV
• Population (ZIP): 15,636
• Household income: $102,926
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 172.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 5% Lithuanian 4% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▲ 0.11%
• Current HPI: 160.8242
• Rent YoY: —
• Metro: Elko, 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

+551.3% since first listed

7 events — show timeline

• 2025-03-21 Sold (Public Records) $149,800 Public Records
• 2025-03-21 Sold (MLS) — ECRMLS
• 2025-03-17 Pending — WFRMLS
• 2025-02-22 Contingent — ECRMLS
• 2025-02-04 Listed $155,000 WFRMLS
• 2025-01-09 Listed $155,000 ECRMLS
• 1996-03-26 Sold (Public Records) $23,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $431 · +3.1% YoY. Source: county tax records.