106 E Victorian Ave #23 · Sparks, NV 89431

$74,500

1 bd · 1.0 ba · 560 sqft · Manufactured · 191 Days on market

Built 2025 Good condition ↓ 25% since listing

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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 +5.0/5.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LAST AVAILABLE HOME IN THE COMMUNITY WITH LIMITED TIME OFFERS! Also available as a rental for $1,299 per month. Whether you're looking to purchase or rent, this BRAND-NEW 1 bed, 1 bath home offers modern, efficient living with a thoughtfully designed open-concept layout and flexible space that can easily function as a studio-style setup with dedicated office space. For a limited time, special incentives are available for both buyers and renters: Purchase Incentives: -$3,000 cash back -Free site rent until 8/1/26 -No application fees Rental Incentives: -No rent until 7/1/26 -No application fees -Opportunity to convert to homeownership after 12 months Offers valid through 5/31/26. Restrictions may apply. Home features include: -Open-concept living, dining, and kitchen area -Stylish breakfast bar -Energy-efficient stainless steel Samsung appliances -Modern finishes throughout -Private deck for outdoor enjoyment Located in the highly desirable Triple C community, residents enjoy convenient freeway access, nearby shopping and dining, public transportation, and Reno-Tahoe International Airport just 12 minutes away. With no other vacancies currently available in the community, this opportunity will not last long. Schedule your tour today before it's gone!

Key facts

• Deck
• Modern finishes
• Breakfast bar

Tags

• OPEN-CONCEPT LAYOUT
• BREAKFAST BAR
• ENERGY-EFFICIENT APPLIANCES
• DECK
• MODERN FINISHES
• HIGHLY SOUGHT-AFTER COMMUNITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $74k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 3.0% in Sparks — 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 74/100 on livability (#16 in NV, #4,708 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment B; Watch: schools C-, cost of living C-, crime D-.
• 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 (+9.8%/yr); 62 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $515 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 + 8.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.78% ✓
• Cap rate: 14.91%
• Cash-on-cash: 30.78%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.1%
• Equity multiple: 2.39×
• Total profit: $29,049
• Equity at exit: $11,108

10-year hold

• IRR: 41.0%
• Equity multiple: 5.85×
• Total profit: $101,225
• Equity at exit: $6,441

Cash invested: $20,860 (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 89431

• Rents YoY: 9.8%
• Active inventory: 62
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$391
• Tax est. 1.5%: −$93 /mo · $1,118/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $535

Break-even live

Break-even rent $652

Max offer price $74,500

Occupancy floor 55%

Sensitivity live

Price	-10% $587	-5% $561	+0% $535	+5% $509	+10% $484
Rent	-10% $430	-5% $483	+0% $535	+5% $588	+10% $640
Rate	-1.0pp $573	-0.5pp $554	base $535	+0.5pp $516	+1.0pp $496

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Nichols Blvd Sparks, NV	1.0–2.0	1.0–1.5	875	$1,350	$1.54	44d	2	0.16mi
333 Stanford Way Unit 10 Sparks, NV	1.0	1.0	630	$1,050	$1.67	24d	1	0.28mi
800 Nichols Blvd Sparks, NV	1.0–2.0	1.0–2.0	843	$1,811	$2.15	14d	15	0.28mi
46 C St Unit 46-9 Sparks, NV	1.0	1.0	500	$1,050	$2.10	24d	1	0.30mi
231 1st St Unit 6 Sparks, NV	1.0	1.0	500	$950	$1.90	24d	1	0.32mi
319 C St Unit 235-3 323 Sparks, NV	1.0	1.0	450	$1,100	$2.44	24d	1	0.46mi
614 Victorian Ave Unit 29 Sparks, NV	1.0	1.0	550	$1,150	$2.09	14d	1	0.64mi
350 Harbour Cove Dr Sparks, NV	1.0–2.0	1.0–2.0	887	$1,839	$2.07	14d	9	0.76mi
675 Marina Gateway Dr Sparks, NV	1.0–3.0	1.0–2.0	1065	$2,000	$1.88	14d	23	0.92mi
830 G St Unit 875 H 103 Sparks, NV	1.0	1.0	700	$1,550	$2.21	14d	1	0.93mi
830 G St Unit 104 Sparks, NV	1.0	1.0	700	$1,550	$2.21	44d	1	0.93mi
830 G St Unit 101 Sparks, NV	1.0	1.0	689	$1,495	$2.17	24d	1	0.93mi
855 H St Sparks, NV	1.0	1.0	689	$1,495	$2.17	24d	1	0.96mi
875 H St Sparks, NV	1.0	1.0	700	$1,550	$2.21	14d	1	0.96mi
875 H St Sparks, NV	1.0	1.0	700	$1,550	$2.21	44d	1	0.96mi
1030 F St Sparks, NV	2.0	1.0	600	$1,575	$2.62	24d	1	0.97mi
1062 H St Sparks, NV	2.0	1.0	748	$1,650	$2.21	14d	1	1.07mi
1400 Avenue of the Oaks Sparks, NV	1.0–2.0	1.0–2.5	837	$1,636	$1.95	44d	15	1.13mi
1320 G St Unit 5 Sparks, NV	2.0	1.0	672	$1,400	$2.08	44d	1	1.15mi
1440 Victorian Ave Unit 7 Sparks, NV	—	1.0	350	$900	$2.57	44d	1	1.20mi
1459 G St Sparks, NV	1.0	1.0	650	$1,300	$2.00	44d	1	1.21mi
565 Sparks Blvd Sparks, NV	1.0–2.0	1.0–2.0	781	$1,597	$2.04	14d	20	1.25mi
1620 A St Unit A Sparks, NV	2.0	1.0	665	$1,350	$2.03	24d	1	1.36mi
1600 I St Sparks, NV	1.0	1.0	561	$995	$1.77	14d	1	1.41mi
1749 Victorian Ave Unit B Sparks, NV	1.0	1.0	400	$1,550	$3.88	22d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $74,500 Active 191 DOM
2. 2026-06-17
   days on market $74,500 Active 190 DOM
3. 2026-06-16
   days on market $74,500 Active 189 DOM
4. 2026-06-15
   days on market $74,500 Active 188 DOM
5. 2026-06-14
   days on market $74,500 Active 186 DOM
6. 2026-06-10
   days on market $74,500 Active 183 DOM
7. 2026-06-09
   days on market $74,500 Active 182 DOM
8. 2026-06-08
   days on market $74,500 Active 181 DOM
9. 2026-06-07
   days on market $74,500 Active 180 DOM
10. 2026-06-05
    days on market $74,500 Active 177 DOM
11. 2026-06-03
    days on market $74,500 Active 176 DOM
12. 2026-06-02
    days on market $74,500 Active 175 DOM
13. 2026-06-01
    days on market $74,500 Active 174 DOM
14. 2026-05-31
    days on market $74,500 Active 173 DOM
15. 2026-05-30
    days on market $74,500 Active 172 DOM
16. 2025-12-10
    listed $74,500 Active 1272-char remark

    Show marketing remark (1272 chars)

    LAST AVAILABLE HOME IN THE COMMUNITY WITH LIMITED TIME OFFERS! Also available as a rental for $1,299 per month. Whether you're looking to purchase or rent, this BRAND-NEW 1 bed, 1 bath home offers modern, efficient living with a thoughtfully designed open-concept layout and flexible space that can easily function as a studio-style setup with dedicated office space. For a limited time, special incentives are available for both buyers and renters: Purchase Incentives: -$3,000 cash back -Free site rent until 8/1/26 -No application fees Rental Incentives: -No rent until 7/1/26 -No application fees -Opportunity to convert to homeownership after 12 months Offers valid through 5/31/26. Restrictions may apply. Home features include: -Open-concept living, dining, and kitchen area -Stylish breakfast bar -Energy-efficient stainless steel Samsung appliances -Modern finishes throughout -Private deck for outdoor enjoyment Located in the highly desirable Triple C community, residents enjoy convenient freeway access, nearby shopping and dining, public transportation, and Reno-Tahoe International Airport just 12 minutes away. With no other vacancies currently available in the community, this opportunity will not last long. Schedule your tour today before it's gone!

17. 2025-11-05
    price $77,000
18. 2025-10-23
    price $78,000
19. 2025-09-29
    price $79,500
20. 2025-09-20
    price $84,500
21. 2025-04-03
    price $99,500

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°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: $15,948
• − Mortgage interest: −$4,173
• − Property taxes: −$1,118
• − Insurance: −$372
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$2,167
• Taxable income: $5,566
• Est. tax owed @ 24.0%: −$1,336
• After-tax cash flow: $5,085/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 · 12 photos

Good 80/100 None rehab

This move-in-ready manufactured home offers a modern, efficient layout with a good condition score and minimal maintenance needs.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and value
• Resale Replace kitchen faucet — Modern faucet can improve kitchen aesthetics
• Both Install smart thermostat — Energy-efficient and user-friendly

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can enhance curb appeal and value ↑
• Resale Replace kitchen faucet — Modern faucet can improve kitchen aesthetics ↑
• Both Install smart thermostat — Energy-efficient and user-friendly ↑

ⓘ 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 — Sparks

• Score: 74/100
• State rank: #16
• US rank: #4708

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparks, NV
• County: Washoe County · 454,252 people
• City population: 117,367
• Metro: Reno, NV
• Population (ZIP): 39,833
• Household income: $66,592
• Rent vs Own: 54.5% rent · 45.5% own
• Severe rent burden: 1721.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 49% White 38% Two or more races 24% Asian 5% Black 3% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Italian 5% Slovak 1% Lithuanian 1%
• Foreign-born: 22% · Canada
• Languages at home: 62% English-only · Spanish 33% Tagalog/Filipino 3% Other Asian/Pacific 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: ▼ -249.89%
• Current HPI: 325.5341
• Rent YoY: ▲ 9.83%
• 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

-25.1% since first listed

6 events — show timeline

• 2025-12-10 Listed $74,500 Zillow
• 2025-11-05 Price Changed $77,000 Fizber.com
• 2025-10-23 Price Changed $78,000 Fizber.com
• 2025-09-29 Price Changed $79,500 Fizber.com
• 2025-09-20 Price Changed $84,500 Fizber.com
• 2025-04-03 Price Changed $99,500 Fizber.com