725 N Royal Crest Cir #231 · Paradise, NV 89169

$159,000

2 bd · 2.0 ba · 1,153 sqft · Condo public records · 6 Days on market

Built 1976 $625/mo HOA · 31% of rent

---

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 +13.5/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks

A must see hi-rise condo in the 55 plus community of Casablanca. Tile flooring throughout this spacious 2 bed/2 bath condo on the 3rd floor level. A end unit. Well appointed. Granite countertops in the galley style kitchen with full size under counter washer and dryer at the far end of kitchen. Other features include: pantry unit, terrace off the living room, gas fireplace for those cool days and nights. So many amenities with 24 hour guard gated service just off The Strip. HOA includes several utility amenities and ground maintenance, plus social activities for residents. Open living room with its wet bar and dining area. Easy access to The Strip, shopping, Harry Reid airport, and surroun

Key facts

• Pantry unit
• Gas fireplace
• Tile flooring

Tags

• TILE FLOORING
• GRANITE COUNTERTOPS
• PANTRY UNIT
• TERRACE OFF THE LIVING ROOM
• GAS FIREPLACE
• 24 HOUR GUARD GATED SERVICE

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Has homeowners association (Casablanca); Monthly association fee of $625; Association covers management, common areas, grounds maintenance, recreation facilities, reserve fund, taxes, and trash; Association amenities include clubhouse, fitness center, gated access, barbecue, pool, spa/hot tub, tennis courts, recreation room, and guard; Pet restrictions apply; Senior community

Exterior

• Parking: Garage; Open parking; Private and guest parking available; Total of 1 designated parking space
• Security: Gated community; 24-hour security; Community guard
• Utilities: Electricity available
• Home design: Building: CASABLANCA; Resale property; Entry level: 3
• Exterior features: Terrace; Community pool; Has view; Gated community; 24-hour security

Interior

• Kitchen: Granite countertops; Recessed lighting; Pantry; Dishwasher; Electric range; Microwave; Disposal; Refrigerator
• Bedrooms: 2 possible bedrooms; Bedroom 2 with closet
• Bathrooms: 2 full bathrooms; Bathroom with tub/shower combo
• Heating & cooling: Central electric heating; Electric cooling (one unit)
• Interior features: Ceiling fans; Window blinds and treatments; Wet bar in living area; Entry foyer
• Laundry & utility: Laundry room; Electric dryer hookup; Washer and dryer included (appliances listed include dryer)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $159k.

Deal economics

• At list price, monthly cash flow is $6 ($68/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).

Location & tenants

• Location reads 76/100 on livability (#10 in NV, #3,494 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-, cost of living B; Watch: employment D+, crime D-.
• 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: Petersen Dean Es (math 8% / reading 12%, grade F, #386 of 402 statewide, top 98%, 779 students, 100% FRL); Orr William E Ms (math 5% / reading 18%, grade F, #103 of 109 statewide, top 95%, 815 students, 100% FRL); Valley Hs (math 8% / reading 24%, grade F, #107 of 131 statewide, top 82%, 2,714 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 12% at this address vs 30% district-wide (-18 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 falling (-4.4%/yr); 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• At $2,022/mo this rent would consume 59% of the median local household income ($41k/yr) (locally 2744% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.27% ✓
• Cap rate: 6.34%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• GRM: 6.6

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: -20.8%
• Equity multiple: 0.30×
• Total profit: $-30,994
• Equity at exit: $23,707

10-year hold

• IRR: -29.6%
• Equity multiple: -0.08×
• Total profit: $-48,066
• Equity at exit: $13,747

Cash invested: $44,520 (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 89169

• Home prices YoY: -33.4%
• Rents YoY: -4.4%
• Active inventory: 180
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$834
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$66
• HOA: −$625
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $6

Break-even live

Break-even rent $2,014

Max offer price $159,000

Occupancy floor 95%

Sensitivity live

Price	-10% $96	-5% $51	+0% $6	+5% $-39	+10% $-84
Rent	-10% $-154	-5% $-74	+0% $6	+5% $86	+10% $165
Rate	-1.0pp $86	-0.5pp $46	base $6	+0.5pp $-36	+1.0pp $-77

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
544 Oakbrook Ln Las Vegas, NV	2.0	1.5	1146	$1,950	$1.70	46d	1	0.13mi
595 S Royal Crest Cir #18 Las Vegas, NV	2.0	1.0	816	$1,575	$1.93	46d	1	0.17mi
3550 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	947	$1,425	$1.50	46d	20	0.22mi
900 E Desert Inn Rd Las Vegas, NV	1.0–2.0	1.0–2.0	1077	$1,800	$1.67	46d	5	0.46mi
3930 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	999	$2,800	$2.80	0d	90	0.47mi
3776 Howard Hughes Pkwy Las Vegas, NV	3.0	1.0–2.5	1548	$3,009	$1.94	0d	9	0.49mi
3930 University Center Dr Las Vegas, NV	2.0	2.0–3.0	1200	$1,725	$1.44	46d	2	0.56mi
3159 Bel Air Dr Las Vegas, NV	2.0	2.0	1305	$2,750	$2.11	24d	1	0.62mi
3145 Bel Air Dr Las Vegas, NV	2.0	2.0	1305	$2,495	$1.91	24d	1	0.64mi
818 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.5	1158	$2,895	$2.50	0d	33	0.65mi
350 E Desert Inn Rd Unit H203 Las Vegas, NV	2.0	1.5	849	$1,725	$2.03	46d	1	0.75mi
2999 Bel Air Dr Las Vegas, NV	2.0	2.0	1326	$2,700	$2.04	24d	1	0.86mi
2831 Geary Pl #2909 Las Vegas, NV	2.0	1.0	1112	$1,899	$1.71	46d	1	0.86mi
1061 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	967	$2,203	$2.28	17d	35	0.91mi
260 E Flamingo Rd Las Vegas, NV	2.0	2.0	1018	$2,372	$2.33	26d	2	0.93mi
260 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	881	$2,295	$2.60	46d	4	0.93mi
260 E Flamingo Rd Las Vegas, NV	2.0	2.0	1018	$2,475	$2.43	5d	1	0.93mi
230 E Flamingo Rd #335 Las Vegas, NV	1.0	1.0	727	$1,600	$2.20	46d	1	0.94mi
270 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	877	$2,100	$2.39	46d	7	0.95mi
210 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	833	$2,100	$2.52	46d	6	0.98mi
2777 Paradise Rd #708 Las Vegas, NV	1.0	1.5	1179	$2,400	$2.04	10d	1	0.99mi
220 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	863	$2,195	$2.54	46d	7	1.02mi
596 Tam O Shanter Las Vegas, NV	2.0	2.0	1350	$1,750	$1.30	46d	1	1.03mi
1601 E Katie Ave Las Vegas, NV	1.0–2.0	1.0–2.0	809	$1,852	$2.29	46d	13	1.04mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1109	$3,500	$3.15	0d	4	1.11mi
322 Karen Ave Las Vegas, NV	1.0–2.0	1.0–2.0	1109	$3,500	$3.15	6d	3	1.11mi
1700 E Viking Rd Las Vegas, NV	2.0	2.0	1085	$1,662	$1.53	46d	3	1.13mi
222 Karen Ave #306 Las Vegas, NV	1.0	2.0	814	$2,300	$2.83	46d	1	1.13mi
222 Karen Ave #3203 Las Vegas, NV	1.0	2.0	814	$2,500	$3.07	46d	1	1.13mi
222 Karen Ave #4101 Las Vegas, NV	2.0	2.0	1399	$4,000	$2.86	4d	1	1.13mi
222 Karen Ave #1004 Las Vegas, NV	1.0	1.5	814	$2,300	$2.83	26d	1	1.13mi
222 Karen Ave #3005 Las Vegas, NV	1.0	1.5	814	$2,400	$2.95	26d	1	1.13mi
222 Karen Ave #2904 Las Vegas, NV	1.0	1.5	814	$2,200	$2.70	4d	1	1.13mi
222 Karen Ave #1105 Las Vegas, NV	1.0	1.5	814	$1,990	$2.44	46d	1	1.13mi
1100 Tam O Shanter Las Vegas, NV	2.0	2.0	1400	$2,100	$1.50	46d	1	1.19mi
2700 Las Vegas Blvd S Las Vegas, NV	1.0–2.0	1.0–2.5	1226	$2,950	$2.41	20d	4	1.22mi
2700 Las Vegas Blvd S Las Vegas, NV	2.0	2.0–2.5	1283	$2,792	$2.18	14d	4	1.22mi
511 E Sahara Ave Las Vegas, NV	1.0–2.0	1.0	900	$1,600	$1.78	46d	3	1.27mi
205 E Harmon Ave Las Vegas, NV	1.0–2.0	1.5–2.0	1182	$1,950	$1.65	46d	5	1.42mi
200 W Sahara Ave #1705 Las Vegas, NV	2.0	2.0	1233	$2,450	$1.99	46d	1	1.45mi

HOA detail condo

• Monthly dues: $625 · $7,500/yr
• Likely covers: gassecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $159,000 Active 6 DOM
2. 2026-06-18
   days on market $159,000 Active 3 DOM
3. 2026-06-17
   days on market $159,000 Active 2 DOM
4. 2026-06-16
   days on marketlisting id $159,000 Active 1 DOM
5. 2026-06-15
   days on market $159,000 Active 5 DOM
6. 2026-06-13
   pricedays on marketlisting id $159,000 Active 3 DOM
7. 2026-06-09
   days on market $169,000 Active 179 DOM
8. 2026-06-08
   days on market $169,000 Active 178 DOM
9. 2026-06-08
   days on market $169,000 Active 177 DOM
10. 2026-06-03
    days on market $169,000 Active 173 DOM
11. 2026-06-02
    days on market $169,000 Active 172 DOM
12. 2026-06-01
    days on market $169,000 Active 171 DOM
13. 2026-05-31
    days on market $169,000 Active 170 DOM
14. 2026-03-21
    price $169,000 730-char remark
15. 2025-12-12
    listed $179,000 Active 730-char remark
16. 2000-08-04
    soldstatus $400,000

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $938 · $78/mo
• Expected delta: +$142/yr (+$12/mo · 17.8%)

ⓘ 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 ≥106°F today · 15 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: $24,260
• − Mortgage interest: −$8,906
• − Property taxes: −$796
• − Insurance: −$795
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − HOA: −$7,500
• − Depreciation: −$4,625
• Taxable loss: −$2,245
• Est. tax savings @ 24.0%: +$539
• After-tax cash flow: $607/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 — Paradise

• Score: 76/100
• State rank: #10
• US rank: #3494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paradise, NV
• County: Clark County · 2,306,105 people
• City population: 227,885
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 22,171
• Household income: $40,904
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2744.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 33% White 30% Black 23% Two or more races 13% Asian 9% Native American 2%
• Hispanic origin (detail): Mexican 21% Cuban 5%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 30% · Canada, China
• Languages at home: 59% English-only · Spanish 27% Tagalog/Filipino 4% Other Asian/Pacific 3%

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: ▼ -136.91%
• Current HPI: 272.6449
• Rent YoY: ▼ -4.43%
• 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

-60.2% since first listed

7 events — show timeline

• 2026-06-15 Listing Removed — GLVAR
• 2026-06-10 Listed $159,000 GLVAR
• 2026-06-10 Listed $159,000 GLVAR
• 2026-06-09 Listing Removed — GLVAR
• 2026-03-21 Price Changed $169,000 GLVAR
• 2025-12-12 Listed $179,000 GLVAR
• 2000-08-04 Sold (Public Records) $400,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $796 · +7.6% YoY. Source: county tax records.