1400 W Placita Apache · Green Valley, AZ 85622

$190,000

2 bd · 2.0 ba · 962 sqft · Condo public records · 178 Days on market

Built 1981 $22/mo HOA · 1% of rent

---

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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Appreciation +5.1/10.0
• 1% rule +4.5/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fall in love with this charming Patio home on a corner lot in an active adult 55+ community. The courtyard patio has beautiful desert landscaping with low maintenance. Carport with large storage space and guest parking across the street. The cozy living area with ample natural light flows into the open kitchen. The skylight makes this home nice and bright. Plenty of storage space throughout the house. Primary bedroom offers an ensuite bathroom with walk-in shower, hall bathroom with tub. This well-maintained home has everything you need to move right in! Great location close to Green Valley Recreation Center.

Key facts

• Updated baths
• Central location
• Updated kitchen

Tags

• UPDATED BATHS
• UPDATED KITCHEN
• CENTRAL LOCATION
• SOUTH FACING CORNER LOT
• LARGE STORAGE ROOM
• NEW DISPOSAL

Property features AI

Finance

• HOA & community: Has association (DH3 West); HOA fee: $22 annually; HOA covers common area maintenance

Exterior

• Parking: Attached garage; 1 covered/carport space
• Security: Wrought iron security door; Smoke detector(s)
• Utilities: Water from a water company; Sewer connected; Pre-wired telephone lines
• Home design: Townhouse; Single-level; Faces south
• Construction: Brick and frame with stucco exterior; Rolled/hot mop roof
• Exterior features: Covered patio; Block and wrought iron fencing; Decorative gravel and shrubs; Corner lot on a cul-de-sac; North/South exposure; Paved street

Interior

• Kitchen: Exhaust fan; Dishwasher; Disposal; Refrigerator; Electric range; Microwave
• Flooring: Concrete
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Skylights; Smoke detector(s); Wrought iron security door
• Laundry & utility: Laundry closet with washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $233 ($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 $180k (5.3% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.5% in Green 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.

Location & tenants

• Location reads 61/100 on livability (#165 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Continental Elementary District (4416) (rural): math 35% / reading 42% proficiency, ranked #72 of 249 in AZ (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Continental Elementary School (math 35% / reading 42%, grade F, #418 of 1,109 statewide, top 38%, 639 students, 31% FRL).
• Market conditions: 112 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 5,268 units permitted in Pima County in 2024 (996 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $313 appreciation (0.2% local appreciation)).
• Pima County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $158k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.20×
• Total profit: $10,683
• Equity at exit: $56,738

10-year hold

• IRR: 9.3%
• Equity multiple: 2.03×
• Total profit: $54,784
• Equity at exit: $69,466

Cash invested: $53,200 (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 85622

• Home prices YoY: 0.1%
• Active inventory: 112
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,799 high
• Mortgage (P&I): −$996
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$79
• HOA: −$22
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $233

Break-even live

Break-even rent $1,505

Max offer price $190,000

Occupancy floor 82%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 Placita Apache Unit X Green Valley, AZ	2.0	2.0	987	$1,500	$1.52	24d	1	0.02mi
1430 W Camino Lucientes Green Valley, AZ	2.0	2.0	1026	$1,500	$1.46	24d	1	0.38mi
2807 S Calle Trafalgar Unit NA Green Valley, AZ	2.0	2.0	966	$1,650	$1.71	24d	1	0.39mi
1230 W Camino del Pato Green Valley, AZ	2.0	2.0	1060	$3,200	$3.02	17d	1	0.46mi
1098 W Camino Sagasta Green Valley, AZ	2.0	2.0	1117	$2,600	$2.33	24d	1	0.55mi

HOA detail condo

• Monthly dues: $22 · $264/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-04-30
   price $190,000
2. 2026-02-13
   price $195,000
3. 2025-11-12
   listed $199,500 Active
4. 2024-11-11
   historical $1,400
5. 2024-11-09
   historical
6. 2024-10-22
   listed $219,000 Active
7. 2024-10-19
   listed $1,400
8. 2022-09-20
   soldstatus $158,000 Closed 616-char remark

   Show marketing remark (616 chars)

   Fall in love with this charming Patio home on a corner lot in an active adult 55+ community. The courtyard patio has beautiful desert landscaping with low maintenance. Carport with large storage space and guest parking across the street. The cozy living area with ample natural light flows into the open kitchen. The skylight makes this home nice and bright. Plenty of storage space throughout the house. Primary bedroom offers an ensuite bathroom with walk-in shower, hall bathroom with tub. This well-maintained home has everything you need to move right in! Great location close to Green Valley Recreation Center.

9. 2022-09-20
   soldstatus $158,000

   Show marketing remark (616 chars)

   Fall in love with this charming Patio home on a corner lot in an active adult 55+ community. The courtyard patio has beautiful desert landscaping with low maintenance. Carport with large storage space and guest parking across the street. The cozy living area with ample natural light flows into the open kitchen. The skylight makes this home nice and bright. Plenty of storage space throughout the house. Primary bedroom offers an ensuite bathroom with walk-in shower, hall bathroom with tub. This well-maintained home has everything you need to move right in! Great location close to Green Valley Recreation Center.

10. 2022-09-17
    status Pending 616-char remark

    Show marketing remark (616 chars)

    Fall in love with this charming Patio home on a corner lot in an active adult 55+ community. The courtyard patio has beautiful desert landscaping with low maintenance. Carport with large storage space and guest parking across the street. The cozy living area with ample natural light flows into the open kitchen. The skylight makes this home nice and bright. Plenty of storage space throughout the house. Primary bedroom offers an ensuite bathroom with walk-in shower, hall bathroom with tub. This well-maintained home has everything you need to move right in! Great location close to Green Valley Recreation Center.

11. 2022-08-17
    historical Active Contingent 616-char remark

    Show marketing remark (616 chars)

    Fall in love with this charming Patio home on a corner lot in an active adult 55+ community. The courtyard patio has beautiful desert landscaping with low maintenance. Carport with large storage space and guest parking across the street. The cozy living area with ample natural light flows into the open kitchen. The skylight makes this home nice and bright. Plenty of storage space throughout the house. Primary bedroom offers an ensuite bathroom with walk-in shower, hall bathroom with tub. This well-maintained home has everything you need to move right in! Great location close to Green Valley Recreation Center.

12. 2022-08-01
    listed $180,000 Active 616-char remark

    Show marketing remark (616 chars)

    Fall in love with this charming Patio home on a corner lot in an active adult 55+ community. The courtyard patio has beautiful desert landscaping with low maintenance. Carport with large storage space and guest parking across the street. The cozy living area with ample natural light flows into the open kitchen. The skylight makes this home nice and bright. Plenty of storage space throughout the house. Primary bedroom offers an ensuite bathroom with walk-in shower, hall bathroom with tub. This well-maintained home has everything you need to move right in! Great location close to Green Valley Recreation Center.

13. 2012-06-29
    soldstatus $72,000 Closed
14. 1997-05-20
    soldstatus $72,600
15. 1996-02-21
    soldstatus $65,000

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,254 · $104/mo
• Expected delta: +$161/yr (+$13/mo · 14.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,589
• − Mortgage interest: −$10,643
• − Property taxes: −$1,093
• − Insurance: −$950
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − HOA: −$264
• − Depreciation: −$5,527
• Taxable loss: −$343
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $2,874/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: Continental Elementary District (4416)
• NCES district ID: 0402250
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $48,475
• Composite: 33.08/100
• National rank: #5565
• State rank: #72 of 249 in AZ

Livability — Green Valley

• Score: 61/100
• State rank: #165
• US rank: #18276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Green Valley, AZ
• City population: 25,381
• Population (ZIP): 6,345

Population outlook (Pima County) Hauer SSP2

• Today (2025): 1,066,056 people
• By 2030: 1,086,684 · +1.9%
• By 2040: 1,117,160 · +4.8%
• By 2050: 1,149,778 · +7.9%
• By 2075: 1,271,480 · +19.3%
• By 2100: 1,321,160 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 5% Romanian 5% Portuguese 4%
• Foreign-born: 10% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Pima

• 2024 margin: D (+15.2) · D 57.0% · R 41.8% · Other 1.2%
• 2008→2024 swing: +9.1pp toward D · 2008: 6.1pp · 2024: 15.2pp
• All cycles: 2024: D+15.2 2020: D+18.7 2016: D+13.5 2012: D+5.8 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.16%
• Current HPI: 225.8384
• Rent YoY: —
• Metro: —
• 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

+192.3% since first listed

15 events — show timeline

• 2026-04-30 Price Changed $190,000 MLSSAZ
• 2026-02-13 Price Changed $195,000 MLSSAZ
• 2025-11-12 Listed $199,500 MLSSAZ
• 2024-11-11 Rental Removed $1,400 Avail
• 2024-11-09 Listing Removed — MLSSAZ
• 2024-10-22 Listed $219,000 MLSSAZ
• 2024-10-19 Listed for Rent $1,400 Avail
• 2022-09-20 Sold (Public Records) $158,000 Public Records
• 2022-09-20 Sold (MLS) $158,000 MLSSAZ
• 2022-09-17 Pending — MLSSAZ
• 2022-08-17 Contingent — MLSSAZ
• 2022-08-01 Listed $180,000 MLSSAZ
• 2012-06-29 Sold (MLS) $72,000 MLSSAZ
• 1997-05-20 Sold (Public Records) $72,600 Public Records
• 1996-02-21 Sold (Public Records) $65,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,093 · +9.0% YoY. Source: county tax records.