2041 E Meteorite Trl

Oro Valley, AZ 85755

$359,000D-

2 bd · 3.0 ba · 1,289 sqft · Built 1991 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,142/mo
• Mortgage (P&I): −$1,883
• Tax + insurance: −$381
• HOA: −$238
• Vac / Maint / Mgmt: −$660
• Net cashflow: $-20/mo
• Annual: $-234/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• 1% rule: 0.88%
• Cash to close: $100,520

Investor read

• This is a 2-bed/3.0-bath single-family listed at $359k.
• At list price, monthly cash flow is $-20 ($-234/yr) — negative.
• To cash-flow at today's rent, offer at most $356k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (12.5% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $314k (12.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#2 in AZ, #1,339 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute D, amenities F, cost of living D-.
• Amphitheater Unified District (4406) (suburban): math 32% / reading 40% proficiency, ranked #85 of 249 in AZ (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Painted Sky Elementary School (math 57% / reading 62%, grade B-, #148 of 1,109 statewide, top 15%, 389 students, 16% FRL); Ironwood Ridge High School (math 37% / reading 39%, grade F, #80 of 381 statewide, top 21%, 1,556 students, 16% FRL).
• Zoned-school proficiency averages 49% at this address vs 36% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Amphitheater Unified District (4406) average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 232 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 since 9y ago 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.
• Current owner paid $225k; list at $359k implies a 60% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.2% in Oro Valley — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($114k/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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.