231 W Rhodes Ave · Avondale, AZ 85323

$189,000

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 6 Days on market

Built 1974 6,100 sqft lot Est $306k · 38% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special - Full Remodel Opportunity! Great opportunity in a desirable Avondale location for investors, flippers, or buyers looking for a full renovation project. This property is in need of a complete remodel and is being sold as-is, offering the perfect blank slate to reimagine and rebuild to your vision. Strong potential to add value in an established neighborhood with convenient access to I-10, nearby schools, shopping, and local amenities. Whether you're looking for your next flip or a long-term investment, this property offers the upside you've been searching for. Bring your contractor and creativity--endless possibilities await!

Key facts

• Complete remodel
• 6,100 sq ft lot
• 3 parking spots

Tags

• FULL REMODEL OPPORTUNITY
• DESIRABLE AVONDALE LOCATION
• COMPLETE REMODEL
• ESTABLISHED NEIGHBORHOOD
• CONVENIENT ACCESS TO I-10

Property features AI

Finance

• Other: Lot size recorded as 6,100 (source: Assessor)
• HOA & community: No association fees

Exterior

• Parking: 2 open parking spaces; 1 covered parking space; 1 carport space
• Utilities: City water; Public sewer
• Home design: Single-family residence; Fee simple ownership
• Construction: Painted block construction; Composition and tile roof
• Exterior features: Dirt front and dirt back yard; Block fencing; Biking/walking path nearby

Interior

• Bedrooms: Up to 3 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Cooling present (type listed as Other); No heating listed
• Interior features: No interior laundry hookups (none listed)
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/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 $172k (9.2% below list).
• Recommended offer: $172k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.4% in Avondale — 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.

Location & tenants

• Location reads 72/100 on livability (#29 in AZ) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A; Watch: health & safety C-, crime D+, amenities F.
• Agua Fria Union High School District (4289) (suburban): math 24% / reading 37% proficiency, ranked #99 of 249 in AZ (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Agua Fria High School (math 15% / reading 26%, grade F, #222 of 381 statewide, top 59%, 1,652 students, 62% FRL).
• Market conditions: Rents flat; 316 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).

Forward outlook

• 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.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,583 (9.2% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $305,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 W Whyman Ave	0.40mi	3/2.0	1,040 (0%)	4mo	$298,000	$287	77
319 S 7th St	0.61mi	3/2.0	1,053 (+1%)	3mo	$225,000	$214	68
728 S 3rd St	0.40mi	3/1.0	1,088 (+5%)	13mo	$325,000	$299	59
419 N Los Amigos Dr	0.69mi	3/1.0	1,040 (0%)	17mo	$315,000	$303	50
200 E Rose Ln	0.38mi	2/1.0 (-1)	954 (-8%)	14mo	$210,000	$220	48
1209 S Central Ave	0.59mi	3/1.0	1,120 (+8%)	10mo	$279,990	$250	47
115 E Brooke Pl	0.24mi	4/3.0 (+1)	1,168 (+12%)	15mo	$345,000	$295	46
200 S 4th St	0.41mi	2/2.0 (-1)	934 (-10%)	15mo	$325,000	$348	46
501 E Kinderman Dr	0.62mi	3/1.0	1,100 (+6%)	15mo	$240,000	$218	45
153 E Buena Vista Ave	0.53mi	2/1.0 (-1)	925 (-11%)	9mo	$289,700	$313	40
416 E Randy St	0.43mi	4/1.0 (+1)	1,172 (+13%)	17mo	$187,500	$160	36
608 S 7th St	0.60mi	2/1.0 (-1)	936 (-10%)	15mo	$274,900	$294	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.34% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.62×
• Total profit: $-20,110
• Equity at exit: $28,181

10-year hold

• IRR: -5.1%
• Equity multiple: 0.70×
• Total profit: $-15,861
• Equity at exit: $16,341

Cash invested: $52,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85323

• Home prices YoY: -27.1%
• Rents YoY: 0.3%
• Active inventory: 316
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$991
• Tax from tax record: −$49 /mo · $586/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $237

Break-even live

Break-even rent $1,416

Max offer price $189,000

Occupancy floor 81%

Sensitivity live

Price	-10% $344	-5% $290	+0% $237	+5% $183	+10% $130
Rent	-10% $101	-5% $169	+0% $237	+5% $305	+10% $372
Rate	-1.0pp $332	-0.5pp $285	base $237	+0.5pp $188	+1.0pp $138

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 S 1st St Unit 1 Avondale, AZ	2.0	1.0	1050	$1,600	$1.52	0d	1	0.30mi
102 S 4th Ave Avondale, AZ	1.0–3.0	1.0–2.0	853	$1,899	$2.22	0d	26	0.30mi
812 S Greenleaf Ln Avondale, AZ	3.0	1.0	800	$1,399	$1.75	0d	1	0.36mi
207 S 3rd St Unit 11 Avondale, AZ	2.0	1.0	950	$1,000	$1.05	0d	1	0.42mi
12 E Hill Dr Avondale, AZ	3.0	1.0	1319	$1,600	$1.21	0d	1	0.48mi
206 E Kinderman Dr Avondale, AZ	4.0	2.0	1430	$575	$0.40	0d	1	0.59mi
312 E Kinderman Dr Unit 1 Avondale, AZ	2.0	1.0	717	$1,375	$1.92	20d	1	0.62mi
103 E Brinker Dr Avondale, AZ	3.0	1.0	900	$1,300	$1.44	0d	3	0.74mi
522 N 4th St Unit A Avondale, AZ	2.0	1.0	858	$1,150	$1.34	0d	1	0.80mi
620 N Litchfield Rd Goodyear, AZ	1.0–3.0	1.0–2.0	802	$1,820	$2.27	0d	14	0.82mi
526 N 4th St Unit B Avondale, AZ	2.0	1.0	858	$1,150	$1.34	0d	1	0.82mi
302 E Lawrence Blvd #109 Avondale, AZ	3.0	2.5	1340	$2,100	$1.57	0d	1	0.86mi
12721 W Buckeye Rd Avondale, AZ	2.0–3.0	2.0	983	$1,783	$1.81	0d	6	0.97mi
833 N Litchfield Rd Goodyear, AZ	3.0	2.0	1419	$2,388	$1.68	4d	1	1.04mi
1408 N Central Ave Avondale, AZ	1.0–3.0	1.0–2.0	909	$1,920	$2.11	0d	15	1.30mi
333 E Van Buren St Avondale, AZ	2.0	1.0–2.0	574	$1,365	$2.38	0d	13	1.37mi
1333 N Dysart Rd Avondale, AZ	2.0	1.0–2.0	626	$1,620	$2.59	0d	27	1.46mi
1425 N Palo Verde Dr Goodyear, AZ	2.0	1.0	847	$1,250	$1.48	0d	4	1.47mi

Listing history 6 events

1. 2026-06-17
   status $189,000 Pending 6 DOM
2. 2026-06-16
   days on market $189,000 Active 6 DOM
3. 2026-06-15
   days on market $189,000 Active 5 DOM
4. 2026-06-13
   days on market $189,000 Active 3 DOM
5. 2026-06-13
   remarks 651-char remark
6. 2026-06-13
   listed $189,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $586 · $49/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$661/yr (+$55/mo · 112.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,590
• − Mortgage interest: −$10,587
• − Property taxes: −$586
• − Insurance: −$945
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$5,498
• Taxable loss: −$321
• Est. tax savings @ 24.0%: +$77
• After-tax cash flow: $2,918/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Agua Fria Union High School District (4289)
• NCES district ID: 0400450
• Math proficiency: 24% ▼ -32.00%
• Reading proficiency: 37% ▼ -12.00%
• Median HH income: $64,107
• Composite: 27.92/100
• National rank: #6865
• State rank: #99 of 249 in AZ

Livability — Avondale

• Score: 72/100
• State rank: #29
• US rank: #6100

Category grades

Amenities F Commute A Cost of living B- Crime D+ Employment B- Housing A+ Health & safety C- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Avondale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 86,122
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 47,043
• Household income: $83,120
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1506.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 26% White 22% Black 13% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 52% Puerto Rican 1%
• Common ancestry: Italian 2% Portuguese 1% Ukrainian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 53% English-only · Spanish 42% Arabic 1% Tagalog/Filipino 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.44%
• Current HPI: 319.3653
• Rent YoY: ▲ 0.34%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+11.5% since first listed

2 events — show timeline

• 2026-06-10 Listed $189,000 ARMLS
• 2024-06-14 Sold (Public Records) $169,500 Public Records

Property tax history

+7.6%/yr

Latest (2025): $586 · +7.6% YoY. Source: county tax records.