2850 E Glenn St

Tucson, AZ 85716

$224,900D+

4 bd · 3.0 ba · 1,554 sqft · Built 1951 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,927/mo
• Mortgage (P&I): −$1,179
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $59/mo
• Annual: $712/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• 1% rule: 0.86%
• Cash to close: $62,972

Investor read

• This is a 4-bed/3.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $59 ($712/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 $193k (14.3% below list).
• It's been on market 31 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (14.3% 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 $7k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#17 in AZ, #4,502 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, crime F, employment D-.
• Tucson Unified District (4403) (urban): math 14% / reading 23% proficiency, ranked #190 of 249 in AZ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cragin Elementary School (math 2% / reading 22%, grade F, #944 of 1,109 statewide, top 87%, 263 students, 76% FRL); Doolen Middle School (math 11% / reading 17%, grade F, #164 of 218 statewide, top 76%, 538 students, 67% FRL); Catalina High School (math 5% / reading 5%, grade F, #364 of 381 statewide, top 100%, 600 students, 72% FRL).
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.4%/yr); 143 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 3.7% in Tucson — 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.
• At $1,927/mo this rent would consume 47% of the median local household income ($49k/yr) (locally 2241% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1951 — 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.