9320 Iroquois Trl

Stagecoach, NV 89429

$290,000D-

3 bd · 1.0 ba · 1,216 sqft · Built 1964 · Manufactured · Active · 222 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,516/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$483
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $-807/mo
• Annual: $-9,682/yr
• Cap rate: 2.95%
• Cash-on-cash: -11.92%
• DSCR: 0.47
• 1% rule: 0.52%
• Cash to close: $81,200

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $290k.
• At list price, monthly cash flow is $-807 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (40.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (47.7% below list).
• It's been on market 222 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (47.7% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($2k loan paydown + $18k appreciation (6.4% local appreciation)).
• Location reads 67/100 on livability (#33 in NV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Lyon County School District (town): math 21% / reading 35% proficiency, ranked #14 of 17 in NV (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 247 active listings in the ZIP; 297 units permitted in Lyon County in 2024 (80 in 5+ unit buildings).
• Lyon County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $79k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $290k implies a 1060% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 222 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.