2432 Khoury Ln

Elko, NV 89801

$402,500F

3 bd · 3.0 ba · 1,615 sqft · Built 2017 · Townhouse · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,500/mo
• Mortgage (P&I): −$2,111
• Tax + insurance: −$547
• HOA: −$250
• Vac / Maint / Mgmt: −$525
• Net cashflow: $-933/mo
• Annual: $-11,192/yr
• Cap rate: 3.51%
• Cash-on-cash: -9.93%
• DSCR: 0.56
• 1% rule: 0.62%
• Cash to close: $112,700

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $402k.
• At list price, monthly cash flow is $-933 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (40.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (37.9% below list).
• It's been on market 52 days — a 3% lower offer ($390k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (40.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#11 in NV, #3,528 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: crime C-, health & safety C-, commute D-.
• Elko County School District (town): math 22% / reading 38% proficiency, ranked #9 of 17 in NV (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grammar School 2 (math 42% / reading 47%, grade F, #83 of 402 statewide, top 22%, 339 students, 100% FRL); Adobe Middle School (math 20% / reading 39%, grade F, #44 of 109 statewide, top 46%, 720 students, 36% FRL); Elko High School (math 21% / reading 38%, grade F, #67 of 131 statewide, top 53%, 1,424 students, 31% FRL) — zoned schools average 56% FRL vs 29% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 284 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 120 units permitted in Elko County in 2024 (0 in 5+ unit buildings).
• Elko County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 4y 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.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.