494 S Florence Ave

Tonopah, NV 89049

$125,000B

3 bd · 2.0 ba · 1,488 sqft · Built 1974 · Manufactured · Active · 327 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,493/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$314
• Net cashflow: $316/mo
• Annual: $3,787/yr
• Cap rate: 9.32%
• Cash-on-cash: 10.82%
• DSCR: 1.48
• 1% rule: 1.19%
• Cash to close: $35,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $125k. Condition is rated fair.
• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• It's been on market 327 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($864 loan paydown + $5k appreciation (3.9% local appreciation)).
• Location reads 63/100 on livability (#60 in NV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Nye County School District (rural): math 20% / reading 33% proficiency, ranked #16 of 17 in NV (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Tonopah Elementary School (math 27% / reading 32%, grade F, #195 of 402 statewide, top 53%, 170 students, 100% FRL); Tonopah Middle School (math 22% / reading 37%, grade F, #44 of 109 statewide, top 46%, 70 students, 100% FRL); Tonopah High School (math 10% / reading 30%, grade F, #93 of 131 statewide, top 74%, 107 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP.
• Nye County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 327 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering
• Major: roof — Signs of wear and tear
• Major: flooring — Worn-out condition
• Major: HVAC/mechanicals — Pellet stove heating system