709 G St

Las Vegas, NV 89106

$309,900B-

6 bd · 3.0 ba · 2,144 sqft · Built 1963 · MultiFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,473/mo
• Mortgage (P&I): −$1,625
• Tax + insurance: −$257
• HOA: −$0
• Vac / Maint / Mgmt: −$1,359
• Net cashflow: $3,231/mo
• Annual: $38,776/yr
• Cap rate: 18.81%
• Cash-on-cash: 44.69%
• DSCR: 2.99
• 1% rule: 2.09%
• Cash to close: $86,772

Investor read

• This is a 4 × 2-bed/1.2-bath units multifamily listed at $310k.
• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $808/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $310k).
• It's been on market 90 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $291k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#2 in NV, #1,723 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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.
• Zoned schools: Williams Tom Es (math 13% / reading 29%, grade F, #278 of 402 statewide, top 69%, 635 students, 100% FRL); Canyon Springs Hs (math 5% / reading 27%, grade F, #107 of 131 statewide, top 82%, 2,719 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 123 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).
• Clark County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 11 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.
• Current owner paid $170k; list at $310k implies a 82% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $87k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $6,473/mo this rent would consume 185% of the median local household income ($42k/yr) (locally 2362% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1963 — 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.
• 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?
• 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.