2612 E Mesquite Ave

Las Vegas, NV 89101

$565,000F

28 bd · 16.0 ba · 2,870 sqft · Built 1963 · MultiFamily · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,081/mo
• Mortgage (P&I): −$2,963
• Tax + insurance: −$942
• HOA: −$0
• Vac / Maint / Mgmt: −$857
• Net cashflow: $-681/mo
• Annual: $-8,167/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• 1% rule: 0.72%
• Cash to close: $158,200

Investor read

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $565k. Condition is rated fair.
• At list price, monthly cash flow is $-681 ($-8k/yr) — negative. Per door: $-170/mo.
• To cash-flow at today's rent, offer at most $467k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $408k (27.8% below list).
• It's been on market 150 days — a 12% lower offer ($497k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $408k (27.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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: Cambeiro Arturo Es (math 10% / reading 20%, grade F, #338 of 402 statewide, top 85%, 524 students, 100% FRL); Smith J D Ms (1,254 students, 100% FRL); Desert Pines Hs (math 5% / reading 20%, grade F, #116 of 131 statewide, top 88%, 3,151 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 14% at this address vs 30% district-wide (-16 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 rising (+2.5%/yr); 186 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.
• 7 sale attempts since 11y 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 $320k; list at $565k implies a 77% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $4,081/mo this rent would consume 124% of the median local household income ($39k/yr) (locally 3814% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 150 days. Have you received any prior offers? Is the seller open to a 28% 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Weathered and in need of repainting.
• Major: Landscaping — Sparse and unkempt, detracting from curb appeal.