5 bd · 3.0 ba ·
1,488 sqft ·
Built 1972
· Manufactured
· Active
· 10 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$2,119/mo
Mortgage (P&I)
−$1,468
Tax + insurance
−$211
HOA
−$0
Vac / Maint / Mgmt
−$445
Net cashflow
$-5/mo
Annual
$-58/yr
Cap rate
6.27%
Cash-on-cash
-0.07%
DSCR
1.00
1% rule
0.76%
Cash to close
$78,400
Investor read
This is a 5-bed/3.0-bath manufactured listed at $280k.
At list price, monthly cash flow is $-5 ($-58/yr) — negative.
To cash-flow at today's rent, offer at most $279k (0.3% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (24.3% below list).
Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
Recommended offer: $212k (24.3% below list) — sets the bar for 1% rule.
Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
Market conditions: 280 active listings in the ZIP; 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 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.
Cap rate 6.3% vs local median 3.0% in Elko — 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.
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?
Built in 1972 — 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.
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.
CashFlowRE · CFR-XD5A12C92DPAEM
· Data 2 days agocashflowre.app · 2026-05-29