3791 Walker View Rd

Topaz Ranch Estates, NV 89444

$175,000C-

2 bd · 2.0 ba · 720 sqft · Built 1970 · MultiFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,821/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$382
• Net cashflow: $393/mo
• Annual: $4,717/yr
• Cap rate: 8.99%
• Cash-on-cash: 9.63%
• DSCR: 1.43
• 1% rule: 1.04%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.0-bath multifamily listed at $175k.
• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 44 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#52 in NV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, amenities F.
• Douglas County School District (town): math 36% / reading 51% proficiency, ranked #3 of 17 in NV (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Minden Elementary School (math 57% / reading 57%, grade C+, #33 of 402 statewide, top 9%, 380 students, 25% FRL); Pau Wa Lu Middle School (math 27% / reading 41%, grade F, #35 of 109 statewide, top 33%, 481 students, 36% FRL); Douglas High School (math 30% / reading 54%, grade F, #35 of 131 statewide, top 28%, 1,643 students, 22% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 45 active listings in the ZIP; 314 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• Douglas County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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 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.