When MSN.com recently ran a story titled “What a Year’s Pay Will Buy You in 10 Cities,” we were surprised to see a Las Vegas home on the list.
Going by the U.S. Census Bureau’s median income for the Las Vegas area of $54,174, MSN plucked from Realtor.com a $54,000 doublewide mobile home listing on Haleakala Drive. The rehabbed 1981 home is near the intersection of Nellis Boulevard and Desert Inn Road in the retirement community of Desert Inn Estates.
OK, so a mobile-home park in the Valley’s northeast side probably isn’t graced with opulent amenities. And MSN was also up front about many properties being modest fixer-uppers that could be an opportunity for first-time homebuyers or investors.
The thing is, this particular budget-friendly choice has been languishing on the market since December. Listing agent Martin Ertini says the hitch is a no-rental clause with the community association.
“Only investors are out there [buying],” he says, “and they all want to rent it out. Even people who want to live in the property want the option to rent it out if they want to move. But it’s not allowed.”