Darcy Plan · Spanish Springs, NV 89441

$669,995

3 bd · 2.5 ba · 2,495 sqft · SingleFamily · 575 Days on market

Excellent condition

---

Why this score? — see what drove the F 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 +7.9/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Darcy home design blends style with everyday function in a refined single-story floor plan. From the welcoming foyer, an open main living area connects the kitchen, casual dining space, and great room ideal for relaxed living and entertaining. Designed for convenience, the kitchen features a center island, a walk-in pantry, and ample counter and cabinet space. The great room opens to a covered patio, perfect for indoor-outdoor living. The primary bedroom includes a generous walk-in closet and a spa-like bath with a dual-sink vanity, a luxe shower, and a private water closet. Two secondary bedrooms share a full hall bath with a dual-sink vanity, providing comfort for guests or family. A versatile flex room near the entry provides space for work or relaxation. Additional highlights include a centrally located laundry room, an everyday entry, and a convenient powder room.

Key facts

• Multi-gen suites
• Elevated hillside
• 3 garage spots

Tags

• ELEVATED HILLSIDE
• STUNNING MOUNTAIN VIEWS
• MULTI-GEN SUITES

🏗️ New construction. The $669,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $803,224.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $670k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-839 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $596k (11.0% below list).
• Recommended offer: $590k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.0% vs local median 3.3% in Spanish Springs — 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 67/100 on livability (#35 in NV) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• 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.
• Zoned schools: Alyce Taylor Elementary (math 54% / reading 55%, grade C, #42 of 402 statewide, top 10%, 452 students, 27% FRL); Yvonne Shaw Middle School (math 33% / reading 57%, grade D, #14 of 109 statewide, top 13%, 712 students, 20% FRL); Spanish Springs High School (math 18% / reading 41%, grade F, #67 of 131 statewide, top 53%, 2,057 students, 17% FRL) — zoned schools average 22% FRL vs 42% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 171 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,085 units permitted in Washoe County in 2024 (1,634 in 5+ unit buildings).
• At $5,964/mo this rent would consume 58% of the median local household income ($124k/yr) — 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 $6k of loan paydown is wiped out by about $24k 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.

Negotiation context

• It's been on market 575 days — a 12% lower offer ($590k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $589,595 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 575 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.04%
• Cash-on-cash: -4.48%
• DSCR: 0.80
• GRM: 11.2

CMA / ARV

• ARV (median comp): $803,224
• List price: $669,995
• Delta: -16.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 La Tray Dr Unit Willows 68	0.09mi	3/2.5	2,495 (0%)	3mo	$698,000	$280	94
520 La Tray Dr Unit Magnolia 82	0.11mi	3/2.5	2,389 (-4%)	6mo	$640,000	$268	83
456 Pah Rah Ridge Dr	0.26mi	3/2.5	2,704 (+8%)	2mo	$959,000	$355	72
11745 Vista Park Dr	0.33mi	3/2.0	2,343 (-6%)	3mo	$880,700	$376	70
510 La Tray Dr Unit Magnolia 83	0.09mi	4/3.0 (+1)	2,729 (+9%)	5mo	$725,000	$266	69
11560 Vinegar Peak Dr Unit Willows 128	0.32mi	3/2.5	2,709 (+9%)	3mo	$820,000	$303	68
11682 Vista Park Dr	0.49mi	3/2.5	2,636 (+6%)	2mo	$765,000	$290	66
11602 Vinegar Peak Dr	0.35mi	3/2.5	2,704 (+8%)	6mo	$795,970	$294	65
309 Coyote Xing	0.51mi	3/2.0	2,343 (-6%)	5mo	$757,000	$323	60
11765 Terra Linda Way	0.35mi	4/3.0 (+1)	2,762 (+11%)	1mo	$770,000	$279	58
2356 Millville Dr	0.64mi	4/3.0 (+1)	2,574 (+3%)	2mo	$739,000	$287	56
2352 Millville Dr	0.65mi	4/2.5 (+1)	2,226 (-11%)	5mo	$707,000	$318	43

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

Projected returns pro-forma

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

5-year hold

• IRR: -23.9%
• Equity multiple: 0.18×
• Total profit: $-183,528
• Equity at exit: $119,763

10-year hold

• IRR: -18.9%
• Equity multiple: -0.02×
• Total profit: $-228,288
• Equity at exit: $69,448

Cash invested: $224,903 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 50 active · 19 under contract
• Months of supply: 13.6 mo (7%/mo absorbed)
• Median asking: $762,490 ($289/sqft)
• Median days on market: 142 d
• This list price: 10% of active listings are priced below it
• ARV vs active asking: +11.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 89441

• Home prices YoY: -18.5%
• Active inventory: 171
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $5,964 medium
• Mortgage (P&I): −$4,212
• Tax est. 1.5%: −$1,004 /mo · $12,048/yr
• Insurance: −$335
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,252
• Net cashflow: $-839

Break-even live

Break-even rent $7,026

Max offer price $681,762

Occupancy floor —

Sensitivity live

Price	-10% $-284	-5% $-562	+0% $-839	+5% $-1,117	+10% $-1,394
Rent	-10% $-1,311	-5% $-1,075	+0% $-839	+5% $-604	+10% $-368
Rate	-1.0pp $-435	-0.5pp $-635	base $-839	+0.5pp $-1,048	+1.0pp $-1,259

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: $200,806
• Closing costs: $24,097
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11680 Campo Rico Ln Sparks, NV	3.0	2.0	1902	$4,500	$2.37	139d	1	0.62mi
430 Calle de la Plata Sparks, NV	3.0	2.0	2056	$7,900	$3.84	119d	1	0.89mi

Listing history 50 events

1. 2026-09-23
   days on market $669,995 Active 575 DOM
2. 2026-09-22
   days on market $669,995 Active 574 DOM
3. 2026-09-21
   days on market $669,995 Active 573 DOM
4. 2026-09-20
   days on market $669,995 Active 572 DOM
5. 2026-09-19
   days on market $669,995 Active 571 DOM
6. 2026-09-18
   days on market $669,995 Active 570 DOM
7. 2026-09-17
   days on market $669,995 Active 569 DOM
8. 2026-09-16
   days on market $669,995 Active 568 DOM
9. 2026-09-15
   days on market $669,995 Active 567 DOM
10. 2026-09-14
    days on market $669,995 Active 566 DOM
11. 2026-09-13
    days on market $669,995 Active 565 DOM
12. 2026-09-12
    days on market $669,995 Active 564 DOM
13. 2026-09-11
    days on market $669,995 Active 563 DOM
14. 2026-09-05
    days on market $669,995 Active 557 DOM
15. 2026-09-04
    days on market $669,995 Active 556 DOM
16. 2026-09-03
    days on market $669,995 Active 555 DOM
17. 2026-08-31
    days on market $669,995 Active 552 DOM
18. 2026-08-30
    days on market $669,995 Active 551 DOM
19. 2026-08-29
    days on market $669,995 Active 550 DOM
20. 2026-08-28
    days on market $669,995 Active 549 DOM
21. 2026-08-27
    days on market $669,995 Active 548 DOM
22. 2026-08-25
    days on market $669,995 Active 546 DOM
23. 2026-08-24
    days on market $669,995 Active 545 DOM
24. 2026-08-23
    days on market $669,995 Active 544 DOM
25. 2026-08-22
    days on market $669,995 Active 543 DOM
26. 2026-08-21
    days on market $669,995 Active 542 DOM
27. 2026-08-20
    days on market $669,995 Active 541 DOM
28. 2026-08-19
    days on market $669,995 Active 540 DOM
29. 2026-08-18
    days on market $669,995 Active 539 DOM
30. 2026-08-17
    days on market $669,995 Active 538 DOM
31. 2026-08-16
    days on market $669,995 Active 537 DOM
32. 2026-08-15
    days on market $669,995 Active 536 DOM
33. 2026-08-14
    days on market $669,995 Active 535 DOM
34. 2026-08-13
    days on market $669,995 Active 534 DOM
35. 2026-08-12
    days on market $669,995 Active 533 DOM
36. 2026-08-11
    days on market $669,995 Active 532 DOM
37. 2026-08-10
    days on market $669,995 Active 531 DOM
38. 2026-08-09
    days on market $669,995 Active 530 DOM
39. 2026-08-08
    days on market $669,995 Active 529 DOM
40. 2026-08-07
    days on market $669,995 Active 528 DOM
41. 2026-08-06
    days on market $669,995 Active 527 DOM
42. 2026-08-05
    days on market $669,995 Active 526 DOM
43. 2026-08-04
    days on market $669,995 Active 525 DOM
44. 2026-08-03
    pricedays on market $669,995 Active 524 DOM
45. 2026-07-31
    days on market $664,995 Active 521 DOM
46. 2026-07-30
    days on market $664,995 Active 520 DOM
47. 2026-07-29
    days on market $664,995 Active 519 DOM
48. 2026-07-27
    days on market $664,995 Active 517 DOM
49. 2026-07-25
    days on market $664,995 Active 515 DOM
50. 2026-07-23
    days on market $664,995 Active 513 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 5/10 Major 7 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,567
• − Mortgage interest: −$44,993
• − Property taxes: −$12,048
• − Insurance: −$4,016
• − Repairs & maintenance: −$5,725
• − Management: −$5,725
• − Depreciation: −$23,367
• Taxable loss: −$24,308
• Est. tax savings @ 24.0%: +$5,834
• After-tax cash flow: $-4,239/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 · 12 photos

Excellent 95/100 None rehab

This single-family home is in excellent condition with modern design and well-maintained features. It is move-in ready and has the potential for further value increases through minor updates.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract more potential buyers ↑
• Both Add smart home features — Smart home features can increase home's value and attract tech-savvy buyers ↑

F Composite school gradezoned avg 43/100

Zoned Schools

Elementary Alyce Taylor Elementary C NV #42/402 Nat'l #9,801/41,679 Middle Yvonne Shaw Middle School D NV #14/109 Nat'l #4,622/14,009 High Spanish Springs High School F NV #67/131 Nat'l #11,215/17,239

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

C Composite livability gradescore 67/100

Livability — Spanish Springs

• Score: 67/100
• State rank: #35
• US rank: #11102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Springs, NV
• County: Washoe · 499,260 people
• City population: 13,854
• Metro: Reno, NV
• Population (ZIP): 13,854
• Household income: $123,625
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 6% of renters

---

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 10% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -74.99%
• Current HPI: 330.2277
• 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

+2.3% since first listed

3 events — show timeline

• 2026-02-03 Price Changed $664,995 Zillow
• 2025-09-13 Price Changed $659,995 Zillow
• 2025-02-25 Listed $649,995 Zillow