6902 E Sheena Dr · Phoenix, AZ 85254

$899,000

4 bd · 4.0 ba · 2,346 sqft · SingleFamily public records · 48 Days on market

Built 1978 0.26 ac lot Est $1028k · 13% under

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Why this score? — see what drove the D+ 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).

• ARV discount +13.1/15.0
• Cash flow +12.9/30.0
• DSCR +3.9/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is special! Original owner, pride of ownership throughout. Great Scottsdale location, close to all the hot spots. Premium corner homesite with a sparkling pool for summer days. Formal living and Dining. Family room with brick, wood-burning fireplace for ambiance. Two sets of French doors to the Arizona room. Enclosed patio for morning coffee and entertaining. Generous sized secondary bedrooms. Master suite boasts an ensuite, walk-in closet and access to back patio. Plenty of storage in enclosed storage room in garage for all the toys. Double gate access to back yard. Large yard includes diving pool, grass area and fruit trees. Must see to appreciate the character of this home. Cit

Key facts

• Storage room
• Arizona room
• French doors

Tags

• PREMIUM CORNER HOMESITE
• BRICK WOOD BURNING FIREPLACE
• FRENCH DOORS
• ARIZONA ROOM
• ENCLOSED PATIO
• STORAGE ROOM

Property features AI

Finance

• Other: Private pool with diving area
• Financial info: Current financing non-assumable
• HOA & community: No association fees; Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2-car garage with garage door opener
• Utilities: City water; Public sewer (connected)
• Home design: Single family residence; Fee simple ownership
• Construction: Stucco and wood frame construction; Painted exterior; Tile/concrete roof
• Exterior features: Screened-in patio(s); Sprinklers front and rear; Corner lot; Desert front yard; Grass in back; Automatic water timer front and back; City-maintained road

Interior

• Kitchen: Built-in microwave; Laminate counters; Pantry; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: Up to 4 possible bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: High-speed internet; Double vanity; 9+ foot flat ceilings; No interior steps; Pantry; Full bathroom in master bedroom; Laminate counters; Fireplace in family room
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $899k.

Deal economics

• At list price, monthly cash flow is $-69 ($-829/yr) — negative.
• To cash-flow at today's rent, offer at most $887k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $674k (25.1% below list).
• Recommended offer: $674k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Phoenix — 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 75/100 on livability (#16 in AZ, #3,924 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime F.
• Paradise Valley Unified District (4241) (urban): math 39% / reading 46% proficiency, ranked #56 of 249 in AZ (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sandpiper Elementary School (math 56% / reading 68%, grade B, #127 of 1,109 statewide, top 12%, 443 students, 8% FRL); Desert Shadows Middle School (math 45% / reading 52%, grade C-, #32 of 218 statewide, top 15%, 780 students, 7% FRL); Horizon High School (math 39% / reading 40%, grade F, #72 of 381 statewide, top 20%, 1,905 students, 7% FRL) — zoned schools average 7% FRL vs 29% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 392 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $6,736/mo this rent would consume 66% of the median local household income ($123k/yr) (locally 1263% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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

• It's been on market 48 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $86k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $899k implies a 1038% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $673,603 (25.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $1,027,548
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7027 E Hearn Rd	0.19mi	4/2.0	2,368 (+1%)	1mo	$1,160,000	$490	81
6912 E Thunderbird Rd	0.15mi	3/2.0 (-1)	2,359 (+1%)	1mo	$999,999	$424	78
13602 N 69th St	0.28mi	3/2.5 (-1)	2,321 (-1%)	1mo	$1,200,000	$517	74
6811 E Hearn Rd	0.13mi	4/3.0	2,624 (+12%)	2mo	$1,020,000	$389	69
6502 E Sharon Dr	0.54mi	4/3.0	2,292 (-2%)	3mo	$1,005,000	$438	65
6622 E Voltaire Ave	0.42mi	4/3.0	2,600 (+11%)	0mo	$1,450,000	$558	58
6529 E Camino Santo --	0.66mi	4/2.0	2,398 (+2%)	1mo	$770,000	$321	57
6440 E Jean Dr	0.63mi	4/2.0	2,277 (-3%)	2mo	$995,000	$437	56
6639 E Voltaire Ave	0.41mi	4/2.0	2,123 (-10%)	1mo	$775,000	$365	56
6729 E Dreyfus Ave	0.66mi	3/3.0 (-1)	2,252 (-4%)	2mo	$900,000	$400	52
6421 E Gelding Dr	0.64mi	3/2.0 (-1)	2,407 (+3%)	3mo	$1,200,000	$499	51
7011 E Dreyfus Ave	0.61mi	3/2.0 (-1)	2,143 (-9%)	0mo	$1,200,000	$560	44

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 · 3.42% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-147,620
• Equity at exit: $134,044

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-124,018
• Equity at exit: $77,729

Cash invested: $251,720 (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 85254

• Rents YoY: 3.4%
• Active inventory: 392
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $6,736 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$301 /mo · $3,618/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,415
• Net cashflow: $-69

Break-even live

Break-even rent $6,823

Max offer price $886,801

Occupancy floor 96%

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6935 E Hearn Rd Scottsdale, AZ	4.0	2.0	2080	$2,950	$1.42	7d	1	0.09mi
14436 N 67th Pl Scottsdale, AZ	4.0	2.0	2013	$5,500	$2.73	43d	1	0.42mi
6547 E Sharon Dr Unit 1558599P Scottsdale, AZ	4.0	2.0	2389	$6,860	$2.87	7d	1	0.48mi
6547 E Voltaire Ave Scottsdale, AZ	3.0	3.0	2513	$6,200	$2.47	43d	1	0.51mi
14811 N Kierland Blvd Scottsdale, AZ	3.0	1.0–2.0	1112	$6,202	$5.58	1d	180	0.52mi
6612 E Presidio Rd Scottsdale, AZ	3.0	2.0	2001	$6,750	$3.37	43d	1	0.52mi
6712 E Pershing Ave Scottsdale, AZ	5.0	3.5	2507	$9,995	$3.99	43d	1	0.62mi
6629 E Dreyfus Ave Scottsdale, AZ	3.0	2.0	2048	$6,000	$2.93	43d	1	0.73mi
6511 E Eugie Ter Scottsdale, AZ	3.0	2.0	1842	$7,000	$3.80	43d	1	0.74mi
6502 E Marilyn Rd Scottsdale, AZ	3.0	2.0	1978	$3,895	$1.97	24d	1	0.76mi
7220 E Sweetwater Ave Scottsdale, AZ	3.0	2.0	2668	$4,000	$1.50	43d	1	0.77mi
15221 N Clubgate Dr Scottsdale, AZ	2.0–3.0	2.0	1546	$5,500	$3.56	43d	2	0.83mi
15221 N Clubgate Dr Scottsdale, AZ	2.0–3.0	2.0	1577	$5,500	$3.49	18d	4	0.83mi
12636 N 68th St Scottsdale, AZ	4.0	2.0	2002	$5,500	$2.75	18d	1	0.85mi
15125 N Scottsdale Rd Scottsdale, AZ	3.0	1.0–3.5	1429	$8,403	$5.88	2d	33	0.91mi
7180 E Kierland Blvd Scottsdale, AZ	2.0–3.0	2.0–3.0	1603	$9,000	$5.61	24d	3	0.91mi
7180 E Kierland Blvd Scottsdale, AZ	2.0–3.0	2.0–3.0	1667	$9,500	$5.70	43d	2	0.91mi
15240 N Clubgate Dr #150 Scottsdale, AZ	3.0	2.5	1985	$7,500	$3.78	43d	1	0.92mi
12602 N Scottsdale Rd Scottsdale, AZ	5.0	2.0	3000	$4,495	$1.50	18d	1	0.95mi
7190 E Kierland Blvd Scottsdale, AZ	3.0	1.0–3.0	1464	$9,606	$6.56	1d	61	0.99mi
6245 E Janice Way Scottsdale, AZ	3.0	2.0	1896	$7,000	$3.69	43d	1	1.00mi
12624 N 73rd Pl Scottsdale, AZ	4.0	3.0	2774	$5,300	$1.91	43d	1	1.03mi
12917 N 75th St Scottsdale, AZ	4.0	2.5	3152	$15,000	$4.76	43d	1	1.04mi
6419 E Betty Elyse Ln Scottsdale, AZ	4.0	3.0	2769	$5,900	$2.13	43d	1	1.08mi
15448 N 63rd St Scottsdale, AZ	4.0	2.0	1763	$3,200	$1.82	19d	1	1.22mi
12271 N 74th St Scottsdale, AZ	4.0	2.0	2250	$9,995	$4.44	43d	1	1.23mi
5921 E Thunderbird Rd Unit 1558638P Scottsdale, AZ	4.0	3.0	2357	$6,037	$2.56	5d	1	1.23mi
12402 N 74th Pl Unit 1558597P Scottsdale, AZ	5.0	3.5	3336	$5,600	$1.68	5d	1	1.24mi
12242 N 74th St Scottsdale, AZ	4.0	2.5	2378	$5,200	$2.19	24d	1	1.25mi
6833 E Montreal Pl Scottsdale, AZ	3.0	2.0	2355	$8,250	$3.50	43d	1	1.27mi
15411 N 61st St Scottsdale, AZ	4.0	3.0	2814	$15,900	$5.65	43d	1	1.28mi
12228 N 64th St Scottsdale, AZ	3.0	2.0	2495	$3,695	$1.48	43d	1	1.29mi
15218 N 61st St Scottsdale, AZ	4.0	3.0	3130	$11,995	$3.83	24d	1	1.30mi
6502 E Paradise Ln Scottsdale, AZ	4.0	2.5	2236	$3,900	$1.74	24d	1	1.42mi
6002 E Beck Ln Scottsdale, AZ	3.0	2.0	1716	$5,000	$2.91	24d	1	1.42mi
13422 N 58th Pl Scottsdale, AZ	5.0	3.5	2723	$13,995	$5.14	43d	1	1.43mi
7417 E Paradise Dr Scottsdale, AZ	4.0	2.5	3372	$13,000	$3.86	24d	1	1.43mi
14227 N 57th Way Scottsdale, AZ	4.0	3.0	2736	$4,995	$1.83	43d	1	1.45mi
6002 E Larkspur Dr Scottsdale, AZ	4.0	3.0	2443	$4,099	$1.68	43d	1	1.45mi
5948 E Corrine Dr Scottsdale, AZ	5.0	2.5	3028	$15,000	$4.95	24d	1	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $899,000 Active 48 DOM
2. 2026-06-17
   days on market $899,000 Active 47 DOM
3. 2026-06-16
   days on market $899,000 Active 46 DOM
4. 2026-06-15
   statusdays on market $899,000 Active 45 DOM
5. 2026-06-13
   days on market $899,000 Under Contract Accepting Backups 43 DOM
6. 2026-06-13
   statusdays on market $899,000 Under Contract Accepting Backups 42 DOM
7. 2026-06-09
   statusdays on market $899,000 Active 39 DOM
8. 2026-06-04
   status $899,000 Pending 38 DOM
9. 2026-06-03
   days on market $899,000 Active 38 DOM
10. 2026-06-02
    days on market $899,000 Active 37 DOM
11. 2026-06-01
    days on market $899,000 Active 36 DOM
12. 2026-05-31
    days on market $899,000 Active 35 DOM
13. 2026-05-20
    historical Under Contract Accepting Backups
14. 2026-05-19
    status Active
15. 2026-04-23
    historical
16. 2026-04-01
    listed $985,000 Active
17. 1978-08-02
    soldstatus $79,000
18. 1977-06-27
    soldstatus $14,300

ⓘ 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: $3,618 · $301/mo
• Projected year-2 tax: $5,933 · $494/mo
• Expected delta: +$2,316/yr (+$193/mo · 64.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,832
• − Mortgage interest: −$50,358
• − Property taxes: −$3,618
• − Insurance: −$4,495
• − Repairs & maintenance: −$6,467
• − Management: −$6,467
• − Depreciation: −$26,153
• Taxable loss: −$16,724
• Est. tax savings @ 24.0%: +$4,014
• After-tax cash flow: $3,185/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: Paradise Valley Unified District (4241)
• NCES district ID: 0405930
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $64,106
• Composite: 37.89/100
• National rank: #4316
• State rank: #56 of 249 in AZ

Livability — Phoenix

• Score: 75/100
• State rank: #16
• US rank: #3924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, AZ
• County: Maricopa County · 4,537,380 people
• City population: 1,500,198
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 45,558
• Household income: $123,203
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1263.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Asian 9% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Italian 4% Slovak 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 85% English-only · Other Indo-European 6% Spanish 3% Other Asian/Pacific 3%

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: ▼ -544.56%
• Current HPI: 398.7261
• Rent YoY: ▲ 3.42%
• 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

+6788.1% since first listed

6 events — show timeline

• 2026-05-20 Contingent — ARMLS
• 2026-05-19 Relisted — ARMLS
• 2026-04-23 Listing Removed — ARMLS
• 2026-04-01 Listed $985,000 ARMLS
• 1978-08-02 Sold (Public Records) $79,000 Public Records
• 1977-06-27 Sold (Public Records) $14,300 Public Records

Property tax history

+2.0%/yr

Latest (2025): $3,618 · +3.1% YoY. Source: county tax records.