1455 E Katie Ave · Paradise, NV 89119

$145,000

1 bd · 1.0 ba · 723 sqft · Other · 37 Days on market

Built 1980 Fair condition

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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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.2/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained second-floor one-bedroom condo features a spacious balcony and an open-concept layout. The home includes attractive wood-style laminate flooring and granite countertops in both the kitchen and bathroom. An assigned covered parking space is located directly beneath the unit for added convenience. The community offers a variety of amenities, including a pool, spa, basketball court, tennis court, and playground, providing a comfortable and active living environment.

Key facts

• Spacious balcony
• Community amenities
• Granite countertops

Tags

• SPACIOUS BALCONY
• OPEN-CONCEPT LAYOUT
• WOOD-STYLE LAMINATE FLOORING
• GRANITE COUNTERTOPS
• ASSIGNED COVERED PARKING
• COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $23 ($271/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (10.6% below list).
• Recommended offer: $130k (10.6% below list) — sets the bar for 1% rule.

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+, schools F, 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.
• Market conditions: Rents soft (-1.8%/yr); 199 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).
• This rent runs 33% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• It's been on market 37 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,699 (10.6% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 9.3

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: -18.7%
• Equity multiple: 0.36×
• Total profit: $-25,841
• Equity at exit: $21,620

10-year hold

• IRR: -18.7%
• Equity multiple: 0.13×
• Total profit: $-35,261
• Equity at exit: $12,537

Cash invested: $40,600 (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 89119

• Rents YoY: -1.8%
• Active inventory: 199
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,297 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $23

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 93%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 E Katie Ave Las Vegas, NV	1.0–2.0	1.0–2.0	809	$1,325	$1.64	43d	13	0.14mi
1061 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.0	967	$1,117	$1.15	14d	35	0.58mi
818 E Flamingo Rd Las Vegas, NV	1.0–2.0	1.0–2.5	1158	$1,395	$1.20	2d	34	0.72mi
4150 Channel 10 Dr Las Vegas, NV	1.0	1.0	600	$1,245	$2.08	1d	2	0.88mi
4255 Channel 10 Dr Las Vegas, NV	1.0–3.0	1.0–2.0	899	$1,182	$1.31	2d	7	0.89mi
4330 Channel 10 Dr Las Vegas, NV	1.0–2.0	1.0–2.0	807	$1,475	$1.83	12d	27	1.00mi
2530 E Flamingo Rd Las Vegas, NV	1.0	1.0	342	$1,923	$5.61	43d	1	1.03mi
3930 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	999	$2,241	$2.24	2d	87	1.06mi
3550 Paradise Rd Las Vegas, NV	3.0	1.0–2.0	947	$1,100	$1.16	43d	20	1.10mi
4330 S Eastern Ave Las Vegas, NV	3.0	1.0–2.0	802	$1,312	$1.63	2d	8	1.12mi
4700 S Maryland Pkwy Las Vegas, NV	1.0	1.0	409	$1,382	$3.37	43d	48	1.14mi
4801 Spencer St Las Vegas, NV	1.0–3.0	1.0–2.0	1072	$1,028	$0.96	43d	14	1.22mi
3168 S Eastern Ave #48 Las Vegas, NV	1.0	1.0	671	$1,050	$1.56	23d	1	1.22mi
3776 Howard Hughes Pkwy Las Vegas, NV	3.0	1.0–2.5	1548	$2,357	$1.52	2d	9	1.23mi
1635 E Tropicana Ave Las Vegas, NV	3.0	1.0–3.0	832	$1,654	$1.99	2d	68	1.39mi
3030 Plaza St Unit Studio 2 Las Vegas, NV	1.0	1.0	400	$1,090	$2.73	23d	1	1.43mi
3030 Plaza St Unit Studio 3 Las Vegas, NV	1.0	1.0	400	$1,090	$2.73	23d	1	1.43mi

Listing history 15 events

1. 2026-06-18
   days on market $145,000 Active 37 DOM
2. 2026-06-17
   days on market $145,000 Active 36 DOM
3. 2026-06-16
   days on market $145,000 Active 35 DOM
4. 2026-06-15
   days on market $145,000 Active 34 DOM
5. 2026-06-13
   days on market $145,000 Active 32 DOM
6. 2026-06-09
   days on market $145,000 Active 28 DOM
7. 2026-06-08
   days on market $145,000 Active 27 DOM
8. 2026-06-08
   days on market $145,000 Active 26 DOM
9. 2026-06-03
   days on market $145,000 Active 22 DOM
10. 2026-06-02
    days on market $145,000 Active 21 DOM
11. 2026-06-01
    days on market $145,000 Active 20 DOM
12. 2026-05-31
    days on market $145,000 Active 19 DOM
13. 2026-05-12
    listed $145,000 Active 488-char remark
14. 2012-10-08
    historical
15. 2012-10-08
    listed $27,800 Exclusive Right

ⓘ 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 8/10 Severe 7 d/yr ≥107°F today · 17 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: $15,564
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$4,218
• Taxable loss: −$2,167
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $791/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 · 1 photo

Fair 45/100 Cosmetic rehab

This well-maintained second-floor one-bedroom condo has a good interior but requires significant exterior repairs to improve its overall condition and value.

Repairs flagged

• Major exterior wall cracks — Visible cracks and discoloration on the exterior wall indicate significant structural damage that needs repair.

Value-add opportunities

• Both repair exterior wall cracks — Repairing the exterior wall cracks will improve the home's appearance and increase its value for both resale and rental.
• Both paint exterior wall — Painting the exterior wall will improve its appearance and increase the home's curb appeal, enhancing its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior wall cracks · Visible cracks and discoloration on the exterior wall indicate significant structural damage that needs repair.	Major	$15,000–50,000
Total estimated repair cost · 1 items		$15,000–50,000

Value-add ROI direction

• Both repair exterior wall cracks — Repairing the exterior wall cracks will improve the home's appearance and increase its value for both resale and rental. ↑
• Both paint exterior wall — Painting the exterior wall will improve its appearance and increase the home's curb appeal, enhancing its value for both resale and rental. ↑

ⓘ 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: 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): 50,196
• Household income: $46,960
• Rent vs Own: 77.2% rent · 22.8% own
• Severe rent burden: 4678.0

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 38% White 29% Two or more races 18% Black 13% Asian 11%
• Hispanic origin (detail): Mexican 23% Puerto Rican 1% Cuban 4%
• Common ancestry: Romanian 2% Lithuanian 1% Scotch-Irish 1%
• Foreign-born: 31% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 29% Tagalog/Filipino 6% Other Indo-European 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: ▼ -221.72%
• Current HPI: 266.4892
• Rent YoY: ▼ -1.81%
• 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

+421.6% since first listed

3 events — show timeline

• 2026-05-12 Listed $145,000 FSBO.com
• 2012-10-08 Listing Removed — GLVAR
• 2012-10-08 Listed $27,800 GLVAR