6432 Casada Way · Las Vegas, NV 89107

$520,000

4 bd · 4.0 ba · 2,808 sqft · MultiFamily public records · 16 Days on market

Built 1963 7,405 sqft lot

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Why this score? — see what drove the D+ 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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• 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

Fantastic Location! This unit is being sold in conjunction with the adjacent 4-plex, 6436 Casada Way. TOTAL OF 8 units for $649,000. Excellent and Solid Income Opportunity. 100% rented. All units are 1 bedroom/1 bathroom. Please do not disturb tenants. Fantastic opportunity to own in a great part of town. Walking distance to College of Southern Nevada.

Key facts

• 7,405 sq ft lot
• Built 1963
• Listed 15 days

Property features AI

Finance

• Other: Lease terms available: month-to-month, six months, or twelve months
• Financial info: Units currently rented (rents vary by unit: $825, $835, $910, $925); Tenant pays electricity and gas
• HOA & community: Cable TV available through association

Exterior

• Utilities: Public water; Public sewer
• Home design: Fourplex (multi-unit); 2 stories; Flat roof
• Construction: Stucco and wood siding exterior
• Exterior features: Average condition; Resale property; 0.17 acre lot

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Range hood; Refrigerator; Exhaust fan
• Bedrooms: Four 1-bedroom units (one bedroom each)
• Flooring: Luxury vinyl plank; Tile
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Blinds; Ceiling fans; Window treatments; Unfurnished
• Laundry & utility: Common area laundry room

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $520k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive. Per door: $157/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $472k (9.3% below list).
• Recommended offer: $472k (9.3% below list) — sets the bar for 1% rule.

Location & tenants

• 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: Warren Rose Es (math 12% / reading 23%, grade F, #307 of 402 statewide, top 77%, 561 students, 100% FRL); Garside Frank F Jhs (math 5% / reading 18%, grade F, #103 of 109 statewide, top 95%, 1,079 students, 100% FRL); Bonanza Hs (math 10% / reading 24%, grade F, #103 of 131 statewide, top 81%, 2,035 students, 100% FRL) — zoned schools average 100% FRL vs 52% district-wide (48 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Clark County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.1%/yr); 148 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $4,717/mo this rent would consume 95% of the median local household income ($60k/yr) (locally 1325% 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 $16k 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

• It's been on market 16 days — a 2% lower offer ($512k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $285k; list at $520k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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.

Recommended offer $471,700 (9.3% below list)

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. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 9.2

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: -11.3%
• Equity multiple: 0.60×
• Total profit: $-58,348
• Equity at exit: $77,534

10-year hold

• IRR: -6.5%
• Equity multiple: 0.63×
• Total profit: $-53,709
• Equity at exit: $44,960

Cash invested: $145,600 (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 89107

• Rents YoY: -1.1%
• Active inventory: 148
• Price-to-rent: 36.7×

Monthly cashflow live

• Estimated rent: $4,717 high
• Mortgage (P&I): −$2,727
• Tax from tax record: −$155 /mo · $1,863/yr
• Insurance: −$217
• HOA: −$0
• Vacancy / Maint / Mgmt: −$991
• Net cashflow: $628

Break-even live

Break-even rent $3,923

Max offer price $520,000

Occupancy floor 82%

Sensitivity live

Price	-10% $922	-5% $775	+0% $628	+5% $480	+10% $333
Rent	-10% $255	-5% $441	+0% $628	+5% $814	+10% $1,000
Rate	-1.0pp $889	-0.5pp $760	base $628	+0.5pp $493	+1.0pp $356

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,716
Total (4 units)			$4,717

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: $130,000
• Closing costs: $15,600
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
413 Norwood Ln Las Vegas, NV	4.0	2.5	2114	$2,450	$1.16	25d	1	0.45mi
308 S Crestline Dr Las Vegas, NV	4.0	3.0	2238	$650	$0.29	45d	1	0.60mi
6760 W Oakey Blvd Las Vegas, NV	3.0	2.5	2562	$3,250	$1.27	25d	1	0.69mi
6808 Obannon Dr Las Vegas, NV	4.0	2.5	2088	$4,000	$1.92	14d	1	0.95mi
7015 El Parque Ave Las Vegas, NV	3.0	3.0	2382	$3,200	$1.34	45d	1	1.00mi
1410 S Monte Cristo Way Las Vegas, NV	4.0	3.5	2513	$5,500	$2.19	18d	1	1.16mi
7408 Silver Palm Ave Las Vegas, NV	4.0	4.0	3985	$5,500	$1.38	25d	1	1.27mi

Listing history 9 events

1. 2026-06-21
   days on market $520,000 Active 16 DOM
2. 2026-06-18
   days on market $520,000 Active 13 DOM
3. 2026-06-17
   days on market $520,000 Active 12 DOM
4. 2026-06-16
   days on market $520,000 Active 11 DOM
5. 2026-06-15
   days on market $520,000 Active 10 DOM
6. 2026-06-09
   days on market $520,000 Active 6 DOM
7. 2026-06-08
   days on market $520,000 Active 5 DOM
8. 2026-06-07
   remarks 645-char remark
9. 2026-06-07
   listed $520,000 Active 4 DOM

ⓘ 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: $1,863 · $155/mo
• Projected year-2 tax: $3,068 · $256/mo
• Expected delta: +$1,205/yr (+$100/mo · 64.7%)

ⓘ 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 ≥105°F today · 18 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: $56,604
• − Mortgage interest: −$29,128
• − Property taxes: −$1,863
• − Insurance: −$2,600
• − Repairs & maintenance: −$4,528
• − Management: −$4,528
• − Depreciation: −$15,127
• Taxable loss: −$1,171
• Est. tax savings @ 24.0%: +$281
• After-tax cash flow: $7,812/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 — Las Vegas

• Score: 80/100
• State rank: #2
• US rank: #1723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Vegas, NV
• County: Clark County · 2,306,105 people
• City population: 1,643,591
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 37,063
• Household income: $59,571
• Rent vs Own: 43.5% rent · 56.5% own
• Severe rent burden: 1325.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 53% White 26% Two or more races 19% Black 10% Asian 5% Pacific Islander 1%
• Hispanic origin (detail): Mexican 41% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 1% Italian 1% Serbian 1%
• Foreign-born: 28% · Canada, China, Vietnam
• Languages at home: 52% English-only · Spanish 42% Tagalog/Filipino 2% Chinese 1%

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: ▼ -204.15%
• Current HPI: 305.9419
• Rent YoY: ▼ -1.08%
• 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

-81.1% since first listed

20 events — show timeline

• 2026-06-03 Relisted — GLVAR
• 2026-06-03 Listing Removed — GLVAR
• 2026-06-03 Listed $520,000 GLVAR
• 2018-07-16 Sold (Public Records) $570,000 Public Records
• 2018-07-16 Sold (MLS) $285,000 GLVAR
• 2018-07-14 Pending — GLVAR
• 2018-06-27 Contingent — GLVAR
• 2018-06-13 Listed $324,500 GLVAR
• 2016-06-30 Listing Removed — GLVAR
• 2016-06-29 Sold (Public Records) $170,000 Public Records
• 2016-06-29 Sold (MLS) $170,000 GLVAR
• 2016-05-25 Contingent — GLVAR
• 2016-05-13 Listed $179,000 GLVAR
• 2009-06-15 Listing Removed — GLVAR
• 2009-06-15 Sold (MLS) $140,000 GLVAR
• 2008-11-26 Listed $149,995 GLVAR
• 2004-04-30 Sold (Public Records) $271,000 Public Records
• 2001-08-28 Sold (Public Records) $205,000 Public Records
• 1995-06-13 Sold (Public Records) $90,910 Public Records
• 1983-11-14 Sold (Public Records) $2,750,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,863 · +7.8% YoY. Source: county tax records.