5116 N Valadez St

1. Market Volatility: Las Vegas real estate can be volatile due to its dependence on tourism. The extreme price appreciation (1263.6% since 2017) may indicate a market bubble, risking potential value loss. 2. Water Scarcity: Las Vegas faces severe water shortages. Future restrictions could impact the property's usability and value, especially considering the pool and large lot. 3. Climate Risks: Extreme heat (average July high of 106°F) can strain HVAC systems and increase energy costs. Flash flood risk needs assessment, as it can cause significant damage. 4. Maintenance Costs: Large square footage, pool, and specialized features like the RV garage could lead to annual maintenance costs of $15,000-$20,000 or more. 5. Insurance Challenges: High-value home in a flood-prone area may face insurance difficulties or high premiums ($3,000-$4,000 annually). 6. Septic System: If present, it could require expensive maintenance or replacement ($20,000-$30,000). 7. HVAC Lifespan: Built in 2003, the HVAC system may need replacement soon, costing $10,000-$15,000 for a home this size. 8. Resale Challenges: Unique features and high price point may limit the future buyer pool, potentially leading to longer sale times. 9. Property Tax Increases: While currently low, Nevada's property taxes could increase, significantly impacting annual costs on a $1.5M home. 10. Zoning Changes: Potential for future zoning changes could affect the ability to use the property as a compound if the neighboring lot is purchased. 11. Economic Downturn: Las Vegas' economy is sensitive to national trends. A recession could disproportionately impact luxury property values. 12. HOA Risks: If part of an HOA, there's potential for fee increases or special assessments, which could be substantial for a property of this caliber.