2305 W Ruthrauff Rd Unit F3

Flowing Wells, AZ 85705

$139,900D+

2 bd · 2.0 ba · 1,008 sqft · Built 2025 · Manufactured · Active · 536 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,200/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-18/mo
• Annual: $-221/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.56%
• DSCR: 0.97
• 1% rule: 0.86%
• Cash to close: $39,172

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $140k. Condition is rated excellent.
• At list price, monthly cash flow is $-18 ($-221/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (14.2% below list).
• It's been on market 536 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (14.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#21 in AZ) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, amenities F, employment F.
• Flowing Wells Unified District (4405) (suburban): math 23% / reading 30% proficiency, ranked #143 of 249 in AZ (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Centennial Elementary School (math 25% / reading 32%, grade F, #580 of 1,109 statewide, top 53%, 448 students, 81% FRL); Flowing Wells Junior High School (math 24% / reading 28%, grade F, #100 of 218 statewide, top 47%, 818 students, 74% FRL); Flowing Wells High School (math 22% / reading 24%, grade F, #208 of 381 statewide, top 55%, 1,694 students, 65% FRL).
• Market conditions: Rents flat; 315 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 5,268 units permitted in Pima County in 2024 (996 in 5+ unit buildings).
• Pima County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 4.8% in Flowing Wells — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 39% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 536 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.