3301 S Goldfield Rd #2064

Apache Junction, AZ 85119

$209,900C-

3 bd · 3.0 ba · 2,048 sqft · Built 2006 · Manufactured · Active · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,184/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$350
• HOA: −$0
• Vac / Maint / Mgmt: −$459
• Net cashflow: $275/mo
• Annual: $3,298/yr
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• 1% rule: 1.04%
• Cash to close: $58,772

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $210k.
• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• It's been on market 131 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#70 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Apache Junction Unified District (4443) (suburban): math 15% / reading 20% proficiency, ranked #195 of 249 in AZ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Peralta Trail Elementary School (math 17% / reading 26%, grade F, #717 of 1,109 statewide, top 65%, 286 students, 74% FRL); Cactus Canyon Junior High (math 14% / reading 19%, grade F, #151 of 218 statewide, top 70%, 702 students, 50% FRL); Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 357 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• 3 sale attempts since 5y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.9% vs local median 3.5% in Apache Junction — 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 37% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% 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 F-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 D 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?
• 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.