7751 E Glenrosa Ave Unit A6

Scottsdale, AZ 85251

$294,900F

2 bd · 1.0 ba · 957 sqft · Built 1963 · Condo · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,954/mo
• Mortgage (P&I): −$1,546
• Tax + insurance: −$492
• HOA: −$392
• Vac / Maint / Mgmt: −$410
• Net cashflow: $-886/mo
• Annual: $-10,631/yr
• Cap rate: 2.69%
• Cash-on-cash: -12.88%
• DSCR: 0.43
• 1% rule: 0.66%
• Cash to close: $82,572

Investor read

• This is a 2-bed/1.0-bath condo listed at $295k. Condition is rated good.
• At list price, monthly cash flow is $-886 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (43.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (33.7% below list).
• It's been on market 32 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $167k (43.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#4 in AZ, #1,756 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, cost of living F.
• Scottsdale Unified District (4240) (urban): math 53% / reading 55% proficiency, ranked #30 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Navajo Elementary School (math 42% / reading 42%, grade F, #371 of 1,109 statewide, top 34%, 472 students, 46% FRL); Mohave Middle School (math 45% / reading 48%, grade D+, #43 of 218 statewide, top 20%, 799 students, 31% FRL); Saguaro High School (math 37% / reading 41%, grade F, #78 of 381 statewide, top 20%, 1,466 students, 25% FRL).
• Watch-outs: HOA is 20% of rent.
• Market conditions: Rents soft (-1.6%/yr); 977 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?