1358 W Mohawk Dr

Flowing Wells, AZ 85705

$115,000D+

2 bd · 1.0 ba · 720 sqft · Built 1973 · Manufactured · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,066/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $131/mo
• Annual: $1,570/yr
• Cap rate: 7.66%
• Cash-on-cash: 4.88%
• DSCR: 1.22
• 1% rule: 0.93%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (7.3% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $107k (7.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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.
• 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: Homer Davis Elementary School (math 20% / reading 28%, grade F, #664 of 1,109 statewide, top 60%, 411 students, 86% FRL); Flowing Wells High School (math 22% / reading 24%, grade F, #208 of 381 statewide, top 55%, 1,694 students, 65% FRL) — zoned schools average 75% FRL vs 24% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 36% district-wide (-12 pts) — the specific schools serving this property underperform the Amphitheater Unified District (4406) average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 181 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.7% vs local median 6.0% 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 34% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.