867 N Lamb Blvd #38 · Las Vegas, NV 89110

$34,900

2 bd · 2.0 ba · 896 sqft · Manufactured · 14 Days on market

Built 2026 Average condition

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.8/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * Three Crowns is an active and exciting 55+ Senior Community. This 2 bedroom, 2 bathroom home is equipped with features you will absolutely love. Our community also offers amenities such as community events, a picnic area / pavilion / grill, a fitness center, and more! For your convenience, we have onsite community management to assist you when you need it. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Picnic area
• Fitness center
• Community events

Tags

• COMMUNITY EVENTS
• PICNIC AREA
• FITNESS CENTER
• ONSITE COMMUNITY MANAGEMENT

Property features AI

Finance

• Financial info: List price reported (51600)

Exterior

• Utilities: Natural gas; Central air conditioning available
• Home design: Condo/attached unit at 867 N Lamb Blvd #38, Las Vegas, NV 89110
• Exterior features: Living area reported (896)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms (total, includes full baths)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Active listing status; Spec inventory home (new construction plan 91514)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $35k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).

Location & tenants

• 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.
• Market conditions: Rents rising (+1.8%/yr); 263 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 14,754 units permitted in Clark County in 2024 (2,301 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $34,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is F 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?
3. 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.
4. 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.
5. 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: 3.67% ✓
• Cap rate: 32.77%
• Cash-on-cash: 94.56%
• DSCR: 5.21
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: 94.1%
• Equity multiple: 5.28×
• Total profit: $41,858
• Equity at exit: $5,204

10-year hold

• IRR: 96.6%
• Equity multiple: 10.56×
• Total profit: $93,466
• Equity at exit: $3,018

Cash invested: $9,772 (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 89110

• Rents YoY: 1.8%
• Active inventory: 263
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,280 high
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $770

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 35%

Sensitivity live

Price	-10% $794	-5% $782	+0% $770	+5% $758	+10% $746
Rent	-10% $669	-5% $720	+0% $770	+5% $821	+10% $871
Rate	-1.0pp $788	-0.5pp $779	base $770	+0.5pp $761	+1.0pp $752

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
917 Bridgewater St Las Vegas, NV	2.0	1.0	749	$1,050	$1.40	45d	1	0.16mi
4156 Abrams Ave Las Vegas, NV	3.0	2.0	1005	$1,700	$1.69	45d	1	0.17mi
1400 Henry Ave Unit D Las Vegas, NV	2.0	1.0	898	$915	$1.02	45d	1	0.36mi
628 Triest Ct Apt D Las Vegas, NV	2.0	1.0	731	$950	$1.30	9d	1	0.36mi
870 Flagstone Way Las Vegas, NV	2.0	1.5	1102	$1,450	$1.32	25d	1	0.39mi
1440 Jamielinn Ln #102 Las Vegas, NV	2.0	2.0	1047	$1,150	$1.10	5d	1	0.42mi
882 Ripple Way Las Vegas, NV	2.0	1.5	1116	$1,499	$1.34	25d	1	0.43mi
4000 E Bonanza Rd Las Vegas, NV	1.0–2.0	1.0–2.0	850	$1,525	$1.79	4d	7	0.43mi
1111 N Lamb Blvd #125 Las Vegas, NV	2.0	2.0	1076	$1,299	$1.21	18d	1	0.51mi
894 Rhinegold Way Las Vegas, NV	2.0	1.5	1116	$1,340	$1.20	45d	1	0.51mi
1492 N Lamb Blvd Las Vegas, NV	1.0–2.0	1.0	739	$1,529	$2.07	3d	9	0.53mi
4302 Lynnann Dr Las Vegas, NV	2.0	1.5	952	$1,350	$1.42	45d	1	0.55mi
1517 Frank Aved St #202 Las Vegas, NV	2.0	2.0	895	$1,025	$1.15	16d	1	0.55mi
3961 Danny Melamed Ave #201 Las Vegas, NV	2.0	2.0	895	$999	$1.12	45d	1	0.55mi
3972 Danny Melamed Ave #102 Las Vegas, NV	2.0	2.0	895	$985	$1.10	45d	1	0.56mi
3979 E Owens Ave Unit 115 Las Vegas, NV	1.0	1.0	600	$1,055	$1.76	19d	1	0.57mi
3956 Danny Melamed Ave #101 Las Vegas, NV	2.0	2.0	895	$1,050	$1.17	3d	1	0.58mi
3956 Danny Melamed Ave #101 Las Vegas, NV	2.0	2.0	895	$1,050	$1.17	9d	1	0.58mi
3980 E Owens Ave Unit 105 Las Vegas, NV	1.0	1.0	620	$1,200	$1.94	45d	1	0.61mi
3980 E Owens Ave Unit 109 Las Vegas, NV	1.0	1.0	620	$1,200	$1.94	45d	1	0.61mi
3980 E Owens Ave Unit 211 Las Vegas, NV	1.0	1.0	620	$1,200	$1.94	45d	1	0.61mi
3980 E Owens Ave Unit 206 Las Vegas, NV	2.0	2.0	880	$1,400	$1.59	45d	1	0.61mi
3980 E Owens Ave Unit 122 Las Vegas, NV	2.0	2.0	880	$1,450	$1.65	45d	1	0.61mi
3700 E Bonanza Rd Las Vegas, NV	1.0–2.0	1.0–2.0	850	$1,260	$1.48	3d	8	0.65mi
824 Hedge Way #2 Las Vegas, NV	3.0	2.0	1022	$1,300	$1.27	23d	1	0.67mi
4521 E Bonanza Rd Las Vegas, NV	1.0–2.0	1.0–2.0	897	$1,827	$2.04	3d	14	0.73mi
1700 N Lamb Blvd Las Vegas, NV	2.0	2.0	989	$1,475	$1.49	9d	2	0.76mi
1001 N Pecos Rd Las Vegas, NV	1.0–3.0	1.0–2.0	875	$1,188	$1.36	4d	7	0.79mi
571 Roxella Ln Unit C Las Vegas, NV	2.0	1.5	1008	$1,250	$1.24	45d	1	0.83mi
3630 E Owens Ave Las Vegas, NV	2.0–3.0	1.0–2.0	924	$900	$0.97	3d	28	0.85mi
457 N Lamb Blvd Unit B Las Vegas, NV	1.0	1.0	599	$1,000	$1.67	21d	1	0.85mi
4160 E Tonopah Ave Unit 4160 Tonopah 115 Las Vegas, NV	2.0	1.0	803	$1,200	$1.49	23d	1	0.86mi
425 N Lamb Blvd Las Vegas, NV	1.0	1.0	599	$1,500	$2.50	45d	1	0.86mi
4220 E Tonopah Ave Apt 204 Las Vegas, NV	2.0	1.0	900	$1,000	$1.11	45d	1	0.88mi
4181 Terrestrial Ln Las Vegas, NV	2.0	1.0	803	$1,100	$1.37	45d	1	0.88mi
4181 Terrestrial Dr Unit 120 Las Vegas, NV	2.0	1.0	803	$1,050	$1.31	45d	1	0.88mi
405 N Lamb Blvd Las Vegas, NV	1.0	1.0	599	$1,000	$1.67	45d	1	0.89mi
429 N Lamb Blvd Las Vegas, NV	1.0	1.0	599	$1,500	$2.50	45d	1	0.89mi
1858 Dwarf Star Dr Unit 233 Las Vegas, NV	2.0	1.0	800	$1,200	$1.50	25d	1	0.95mi
4220 Stewart Ave Las Vegas, NV	1.0	1.0	550	$940	$1.71	45d	1	0.98mi

Listing history 10 events

1. 2026-06-21
   days on market $34,900 Active 14 DOM
2. 2026-06-18
   days on market $34,900 Active 11 DOM
3. 2026-06-17
   days on market $34,900 Active 10 DOM
4. 2026-06-16
   days on market $34,900 Active 9 DOM
5. 2026-06-15
   days on market $34,900 Active 8 DOM
6. 2026-06-13
   days on market $34,900 Active 6 DOM
7. 2026-06-10
   price $34,900 Active 2 DOM
8. 2026-06-09
   days on market $51,600 Active 2 DOM
9. 2026-06-08
   remarks 531-char remark
10. 2026-06-08
    listed $51,600 Active 1 DOM

ⓘ 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

• 🌡 Heat 8/10 Severe
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,361
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$1,015
• Taxable income: $9,235
• Est. tax owed @ 24.0%: −$2,216
• After-tax cash flow: $7,024/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 · 2 photos

Average 55/100 Cosmetic rehab

This manufactured home is in average condition with some cosmetic repairs needed. Painting the exterior siding and trimming the bushes would significantly enhance its curb appeal and value.

Repairs flagged

• Minor Paint exterior siding — Slight discoloration
• Minor Trim and paint exterior trim — Weathered appearance

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and resale value
• Both Trim and bushes — Improves curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint exterior siding · Slight discoloration	Minor	$500–3,000
Trim and paint exterior trim · Weathered appearance	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and resale value ↑
• Both Trim and bushes — Improves curb appeal and rental value ↑

ⓘ 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 — Las Vegas

• Score: 80/100
• State rank: #2
• US rank: #1723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Vegas, NV
• County: Clark County · 2,306,105 people
• City population: 1,643,591
• Metro: Las Vegas-Henderson-Paradise, NV
• Population (ZIP): 69,107
• Household income: $61,001
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 3134.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 63% White 20% Two or more races 18% Black 8% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 52% Cuban 3%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 31% · Canada
• Languages at home: 42% English-only · Spanish 53% Tagalog/Filipino 2% Other Asian/Pacific 1%

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: ▼ -165.11%
• Current HPI: 299.1815
• Rent YoY: ▲ 1.78%
• 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