Score
0Winnemucca, NV
4720 E 2nd St
440K
3 beds
2 baths
2,280 sqft
3 bd • 2 ba • 2,280 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$440,000
Price/Sq.Ft
$193
Year Built
2009
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 4720 E 2nd St, Winnemucca, NV offers exceptional value with its spacious 2,280 sqft layout, priced at $192.98/sqft, which is significantly below the average for similar properties in Winnemucca. Built in 2009, it's relatively new for the area, reducing immediate maintenance concerns. The home has appreciated remarkably, from $229,000 in 2019 to its current listing of $440,000, representing a 92.1% increase in just 6 years.
Key features include:
1. Large 30'x40' (1,200 sqft) insulated shop with drive-through doors, 220 electric, and natural gas heater, adding significant value for hobbyists or home businesses.
2. Recent upgrades like custom concrete countertops and luxury vinyl plank flooring throughout.
3. Energy-efficient features including a smart thermostat and keyless entry.
4. Versatile floor plan with an office/den, mud room, and open concept living areas.
5. Fully fenced backyard with a large concrete patio and gated garden area, ideal for outdoor living and gardening.
6. Ample parking and mountain views, enhancing the property's appeal.
The property's location offers a balance of rural charm with proximity to schools (all within 1.7 miles) and essential amenities. The natural gas forced air heating and central air conditioning are well-suited for Winnemucca's climate extremes.
The Bad
While the property has many positive attributes, there are some potential drawbacks to consider:
1. Rapid price appreciation: The 92.1% price increase since 2019 may indicate an overheated market, potentially limiting future appreciation.
2. Limited market data: The lack of comprehensive market insights (median income, rental rates) makes it challenging to fully assess the property's value relative to the local market.
3. School ratings: The nearby schools have mixed ratings (5/10 to 8/10), which could impact long-term resale value and may be a concern for families with school-age children.
4. Economic vulnerability: Winnemucca's heavy reliance on the mining industry makes the property value susceptible to fluctuations in gold prices and mining activity.
5. Remote location: The town's isolated nature may limit access to specialized healthcare, diverse job opportunities, and a wide range of amenities typically found in larger cities.
6. Climate considerations: The extreme weather conditions (hot summers, cold winters) may lead to higher utility costs and potential wear on the property over time.
The Ugly
1. Market volatility: The property's price history shows extreme fluctuations, including a 229.4% increase in 2016 followed by a 39.3% decrease. This volatility suggests a highly unpredictable market that could pose significant financial risks.
2. Water scarcity: Nevada's ongoing water issues could lead to future restrictions or increased costs for water usage, potentially affecting the property's value and livability.
3. Environmental concerns: The proximity to mining operations may pose risks of air and water quality issues, which could impact health and property values over time.
4. Limited economic diversity: The town's dependence on the mining industry makes it vulnerable to economic downturns, potentially leading to rapid population decline and plummeting property values if the mining sector struggles.
5. Potential overvaluation: The current listing price of $440,000 represents a 240% increase from its 2016 sale price of $130,201. This extreme appreciation over a short period raises concerns about a potential housing bubble in the area.
6. Isolation factors: The remote location may lead to higher costs for goods and services, limited access to specialized healthcare, and potential difficulties in resale due to a smaller buyer pool.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Mining industry professionals or those with secure, high-paying jobs in Winnemucca, able to afford the $440,000 price tag.
2. Hobbyists or small business owners who can utilize the large 1,200 sqft shop for their pursuits.
3. Buyers seeking a spacious family home with modern amenities and energy-efficient features.
4. Those who appreciate a rural lifestyle with mountain views and outdoor living spaces.
5. Investors looking for short-term gains in a rapidly appreciating market, willing to accept the associated risks.
6. Retirees or remote workers not dependent on the local job market, seeking a quieter lifestyle with some amenities nearby.
Not For
This property is not ideal for:
1. First-time homebuyers or those with limited budgets, given the high price point and potential market volatility.
2. Families highly concerned about top-rated schools, due to the mixed school ratings in the area.
3. Individuals seeking a diverse, urban lifestyle with extensive cultural amenities and job opportunities.
4. Those with health conditions requiring frequent access to specialized medical care, given Winnemucca's remote location.
5. Risk-averse investors looking for stable, predictable property appreciation.
6. Buyers uncomfortable with the potential environmental and economic risks associated with a mining-dependent town.
7. Those seeking a property with immediate strong rental income potential, due to limited data on local rental markets.
Demographics
Area Median Income
$0
Property History
Price History
Ownership Timeline
$229,000Financed
Apr 3, 2019Anthony J Leal, Gabriela LealMichael J Sayler, Alison C Lacy
Bargain And Sale Deed
Standard Sale (Purchase/Resales)
$209,000Financed
Jul 12, 2016Isidro Mendoza, Esther MendozaAnthony J Leal, Gabriela Leal
Bargain And Sale Deed
Standard Sale (Purchase/Resales)
$130,201Cash Purchase
Apr 20, 2016Chad S TregellasIsidro Mendoza, Esther Mendoza
Trustees Deed
Foreclosure
$42,500Cash Purchase
Mar 20, 2009Maximiliano Herrera, Maria Elida HerreraChad S Tregallas
Grant Deed
Non-Residential Arm's Length Transactions
$0Cash Purchase
Mar 7, 2006Edwin W Bodily, Irma Beth BodilyMaximiliano Herrera, Maria Elida Herrera
Grant Deed
Non-Arm's Length Transactions
Property Taxes
$2,122
2023 Tax Assessment
3.0%from previous year
Assessed Value$79,436
Tax Rate2.67%
Sunlight Analysis
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Schools
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$0
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