28 E 300 --

Pima, AZ 85543

$178,000C+

4 bd · 2.0 ba · 1,440 sqft · Built 1983 · Land · Pending · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,900/mo
• Mortgage (P&I): −$933
• Tax + insurance: −$297
• HOA: −$0
• Vac / Maint / Mgmt: −$399
• Net cashflow: $271/mo
• Annual: $3,251/yr
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $49,840

Investor read

• This is a 4-bed/2.0-bath land listed at $178k.
• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).
• It's been on market 113 days — a 9% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (9.0% below list) — sets the bar for market timing.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#175 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Pima Unified District (4220) (town): math 28% / reading 34% proficiency, ranked #107 of 249 in AZ (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pima Elementary School (math 35% / reading 41%, grade F, #427 of 1,109 statewide, top 39%, 539 students, 42% FRL); Pima Junior High School (math 22% / reading 27%, grade F, #108 of 218 statewide, top 49%, 194 students, 37% FRL); Pima High School (math 17% / reading 22%, grade F, #232 of 381 statewide, top 63%, 352 students, 28% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 137 units permitted in Graham County in 2024 (0 in 5+ unit buildings).
• Graham County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $60k; list at $178k implies a 197% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
• 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.