1409 Sombrero Dr · Winchester, NV 89169

$649,999

9 bd · 5.5 ba · 3,336 sqft · MultiFamily public records · 10 Days on market

Built 1963 7,405 sqft lot

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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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

FOURPLEX IN GREAT CONDITION W/ LONGTERM TENANTS IN PLACE! ONE 3 BEDROOM AND 3 -2 BEDROOM UNITS. CLOSE TO LAS VEGAS STRIP, MAJOR EMPLOYMENT CENTERS, SUNRISE HOSPITAL AND PUBLIC TRANSPORTATION. UNITS FEATURE TILE FLOORING & EACH KITCHEN COMES WITH A DISPOSAL, GLASS FLAT TOP GE ELECTRIC STOVE AND REFRIGERATOR. PLENTY OF ON SITE PARKING!

Key facts

• Brand new hvac units
• Sewer cipp lining
• Tile flooring

Tags

• BRAND NEW HVAC UNITS
• TILE FLOORING
• NEW ROOF
• SEWER CIPP LINING
• RECENT ELECTRICAL IMPROVEMENTS
• AMPLE ON-SITE PARKING

What this means for you Summary

Snapshot

• This is a 3×2bd/1.5ba + 1×3bd/1.5ba units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $527/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $650k).

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; lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $7,516/mo this rent would consume 220% 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 $4k of loan paydown is wiped out by about $20k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y ago 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.
• Current owner paid $220k; list at $650k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $649,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.16% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.89%
• DSCR: 1.62
• GRM: 7.2

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $6,568
• Equity at exit: $96,917

10-year hold

• IRR: 7.6%
• Equity multiple: 1.51×
• Total profit: $92,229
• Equity at exit: $56,200

Cash invested: $182,000 (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: 29.3×

Monthly cashflow live

• Estimated rent: $7,516 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$151 /mo · $1,810/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,578
• Net cashflow: $2,107

Break-even live

Break-even rent $4,849

Max offer price $649,999

Occupancy floor 67%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$5,544
1× unit	3	1.5	$1,973
Total (4 units)			$7,516

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-24
   status Pending
2. 2026-04-14
   listed $649,999 Active
3. 2026-01-05
   status Pending
4. 2025-11-24
   price $635,000
5. 2025-10-08
   listed $650,000 Active
6. 2015-03-20
   soldstatus $220,000 Sold 341-char remark

   Show marketing remark (341 chars)

   FOURPLEX IN GREAT CONDITION W/ LONGTERM TENANTS IN PLACE! ONE 3 BEDROOM AND 3 -2 BEDROOM UNITS. CLOSE TO LAS VEGAS STRIP, MAJOR EMPLOYMENT CENTERS, SUNRISE HOSPITAL AND PUBLIC TRANSPORTATION. UNITS FEATURE TILE FLOORING & EACH KITCHEN COMES WITH A DISPOSAL, GLASS FLAT TOP GE ELECTRIC STOVE AND REFRIGERATOR. PLENTY OF ON SITE PARKING!

7. 2015-02-13
   historical Contingent Offer 341-char remark

   Show marketing remark (341 chars)

   FOURPLEX IN GREAT CONDITION W/ LONGTERM TENANTS IN PLACE! ONE 3 BEDROOM AND 3 -2 BEDROOM UNITS. CLOSE TO LAS VEGAS STRIP, MAJOR EMPLOYMENT CENTERS, SUNRISE HOSPITAL AND PUBLIC TRANSPORTATION. UNITS FEATURE TILE FLOORING & EACH KITCHEN COMES WITH A DISPOSAL, GLASS FLAT TOP GE ELECTRIC STOVE AND REFRIGERATOR. PLENTY OF ON SITE PARKING!

8. 2015-02-06
   listed $225,000 Exclusive Right 341-char remark

   Show marketing remark (341 chars)

   FOURPLEX IN GREAT CONDITION W/ LONGTERM TENANTS IN PLACE! ONE 3 BEDROOM AND 3 -2 BEDROOM UNITS. CLOSE TO LAS VEGAS STRIP, MAJOR EMPLOYMENT CENTERS, SUNRISE HOSPITAL AND PUBLIC TRANSPORTATION. UNITS FEATURE TILE FLOORING & EACH KITCHEN COMES WITH A DISPOSAL, GLASS FLAT TOP GE ELECTRIC STOVE AND REFRIGERATOR. PLENTY OF ON SITE PARKING!

9. 2010-06-01
   soldstatus $114,800
10. 2010-06-01
    historical
11. 2010-04-27
    listed $94,000
12. 2007-01-05
    soldstatus $410,000
13. 2000-01-05
    soldstatus $196,500
14. 1989-05-17
    soldstatus $150,000
15. 1987-08-21
    soldstatus $117,000
16. 1986-11-20
    soldstatus $191,145

ⓘ 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: $1,810 · $151/mo
• Projected year-2 tax: $3,835 · $320/mo
• Expected delta: +$2,025/yr (+$169/mo · 111.9%)

ⓘ 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: $90,192
• − Mortgage interest: −$36,410
• − Property taxes: −$1,810
• − Insurance: −$3,250
• − Repairs & maintenance: −$7,215
• − Management: −$7,215
• − Depreciation: −$18,909
• Taxable income: $15,382
• Est. tax owed @ 24.0%: −$3,692
• After-tax cash flow: $21,596/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

+240.1% since first listed

16 events — show timeline

• 2026-04-24 Pending — GLVAR
• 2026-04-14 Listed $649,999 GLVAR
• 2026-01-05 Pending — GLVAR
• 2025-11-24 Price Changed $635,000 GLVAR
• 2025-10-08 Listed $650,000 GLVAR
• 2015-03-20 Sold (MLS) $220,000 GLVAR
• 2015-02-13 Contingent — GLVAR
• 2015-02-06 Listed $225,000 GLVAR
• 2010-06-01 Listing Removed — GLVAR
• 2010-06-01 Sold (MLS) $114,800 GLVAR
• 2010-04-27 Listed $94,000 GLVAR
• 2007-01-05 Sold (Public Records) $410,000 Public Records
• 2000-01-05 Sold (Public Records) $196,500 Public Records
• 1989-05-17 Sold (Public Records) $150,000 Public Records
• 1987-08-21 Sold (Public Records) $117,000 Public Records
• 1986-11-20 Sold (Public Records) $191,145 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,810 · +7.8% YoY. Source: county tax records.