97 Silver Reef Dr · Reno, NV 89506

$69,000

2 bd · 2.0 ba · 768 sqft · Other · 20 Days on market

Built 1975 Good 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
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This home has lots of great features. The kitchen is remodeled and spacious. All major appliances including washer and dryer. The master bedroom has a private bath in the process of a remodel. The living area is open to the kitchen. Split bedroom floor plan. New vinyl windows throughout. Laminate wood flooring in kitchen, hall and bath. New furnace. Drywall insulation for energy efficiency. Nice covered deck; partially fenced yard; 2 large storage sheds; carport. Lot Rental Fee: $420/moTo take a closer look at this great property call Stephanie anytime at [phone]

Key facts

• Private bath
• Remodeled kitchen
• New vinyl windows

Tags

• REMODELED KITCHEN
• PRIVATE BATH
• OPEN LIVING AREA
• SPLIT BEDROOM FLOOR PLAN
• NEW VINYL WINDOWS
• LAMINATE WOOD FLOORING

Property features AI

Exterior

• Home design: Built in 1975
• Construction: Living area approximately 768
• Exterior features: Located in the North Valleys subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $972 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 2.5% in Reno — 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 78/100 on livability (#4 in NV, #2,370 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime 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.
• Market conditions: Rents rising fast (+5.7%/yr); 130 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $477 of loan paydown is wiped out by about $2k 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 + 5.7% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $67,965 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — 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 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?
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: 2.66% ✓
• Cap rate: 23.20%
• Cash-on-cash: 60.39%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.66% rent growth · sell at horizon

5-year hold

• IRR: 62.2%
• Equity multiple: 3.89×
• Total profit: $55,807
• Equity at exit: $10,288

10-year hold

• IRR: 67.6%
• Equity multiple: 8.78×
• Total profit: $150,280
• Equity at exit: $5,966

Cash invested: $19,320 (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 89506

• Rents YoY: 5.7%
• Active inventory: 130
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,834 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $972

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,020	-5% $996	+0% $972	+5% $948	+10% $925
Rent	-10% $827	-5% $900	+0% $972	+5% $1,045	+10% $1,117
Rate	-1.0pp $1,007	-0.5pp $990	base $972	+0.5pp $954	+1.0pp $936

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11110 White Sage Dr Reno, NV	2.0	1.0	728	$1,700	$2.34	14d	1	0.18mi
10005 Sagewood Dr Reno, NV	2.0	1.0	728	$1,700	$2.34	44d	1	0.18mi
10005 Sagewood Dr #11110 Reno, NV	2.0	1.0	728	$1,700	$2.34	14d	1	0.18mi
6060 Silver Lake Rd Reno, NV	1.0–2.0	1.0–2.0	878	$1,606	$1.83	14d	13	0.36mi
6521 Flower St Unit 1 Reno, NV	3.0	2.0	1080	$2,095	$1.94	24d	1	0.47mi
6675 Peppermint Dr Reno, NV	3.0	2.0	1080	$1,895	$1.75	14d	1	0.51mi
11641 Andes St Reno, NV	2.0	1.0	988	$1,895	$1.92	44d	1	0.52mi
6785 Lotus St Reno, NV	3.0	2.0	1064	$2,100	$1.97	24d	1	0.63mi
7711 Sky Vista Pkwy Reno, NV	1.0–2.0	1.0–2.0	781	$1,795	$2.30	22d	1	0.98mi
7350 Silver Lake Rd Reno, NV	1.0–3.0	1.0–2.0	1087	$1,956	$1.80	14d	20	1.17mi
8001 Military Rd Reno, NV	1.0–3.0	1.0–2.0	1204	$1,992	$1.65	14d	25	1.37mi

Listing history 13 events

1. 2026-06-15
   days on market $69,000 Active 20 DOM
2. 2026-06-14
   days on market $69,000 Active 18 DOM
3. 2026-06-10
   days on market $69,000 Active 15 DOM
4. 2026-06-09
   days on market $69,000 Active 14 DOM
5. 2026-06-08
   days on market $69,000 Active 13 DOM
6. 2026-06-07
   days on market $69,000 Active 12 DOM
7. 2026-06-05
   days on market $69,000 Active 9 DOM
8. 2026-06-03
   days on market $69,000 Active 8 DOM
9. 2026-06-02
   days on market $69,000 Active 7 DOM
10. 2026-06-01
    days on market $69,000 Active 6 DOM
11. 2026-05-31
    days on market $69,000 Active 5 DOM
12. 2026-05-30
    days on market $69,000 Active 4 DOM
13. 2026-05-26
    listed $69,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,011
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$2,007
• Taxable income: $11,237
• Est. tax owed @ 24.0%: −$2,697
• After-tax cash flow: $8,970/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 · 1 photo

Good 75/100 Cosmetic rehab

This home is in good condition with recent updates, including new windows and a new furnace. It has a good curb appeal and is move-in ready.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and rental value
• Both Paint exterior — Improves curb appeal and resale value
• Both Install new windows — Enhances energy efficiency and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and rental value ↑
• Both Paint exterior — Improves curb appeal and resale value ↑
• Both Install new windows — Enhances energy efficiency and resale value ↑

ⓘ 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 — Reno

• Score: 78/100
• State rank: #4
• US rank: #2370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reno, NV
• County: Washoe County · 454,252 people
• City population: 325,068
• Metro: Reno, NV
• Population (ZIP): 47,046
• Household income: $86,396
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 1152.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 31% Two or more races 15% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 15% · Canada, South Korea
• Languages at home: 76% English-only · Spanish 20% Tagalog/Filipino 2% 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: ▼ -197.15%
• Current HPI: 328.0154
• Rent YoY: ▲ 5.66%
• 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

• 2026-05-26 Listed $69,000 FSBO.com