35471 N Bandolier Dr · San Tan Valley, AZ 85144

$444,900

3 bd · 2.5 ba · 2,200 sqft · SingleFamily public records · 58 Days on market

Built 2015 6,895 sqft lot $202/sqft · 9% below area Est $501k · 11% under $85/mo HOA · 4% of rent ↓ 23% since listing

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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 +12.5/15.0
• Appreciation +10.0/10.0
• Cash flow +5.8/30.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• 1% rule +0.2/10.0
• DSCR +0.2/10.0

Listing remarks

Welcome home to this beautifully maintained gem in Morning Sun Farms! This single-level home offers 3 beds, 2.5 ba, and a rare 3-car tandem garage across 2,244 ft of thoughtfully designed living space. Meticulously cared for by the original owner, it shows true pride of ownership from the moment you walk in. Light, bright & move-in ready w/ 9-ft ceilings & newer luxury laminate wood-like flooring throughout--no carpet anywhere. The stunning kitchen features white cabinetry w/ a subtle touch of blue, granite countertops, stainless steel appliances & includes the refrigerator. Washer & dryer convey too--just bring your things & settle in. The spacious primary sui

Key facts

• 6,895 sq ft lot
• 3 garage spots
• Built 2015

Property features AI

Finance

• Financial info: Current financing: FHA
• HOA & community: Monthly association fee of $85 covering grounds maintenance; Association rules prohibit visible trucks, trailers, RVs, and boats; Community features include a playground and biking/walking path

Exterior

• Parking: 3 covered parking spaces; 2 open parking spaces; Tandem garage with garage door opener and direct access
• Utilities: Private water company; Sewer connected (private sewer)
• Home design: Single-family residence; Fee simple ownership
• Construction: Builder-sourced building area
• Exterior features: Stucco and painted wood-frame exterior; Block fencing; Tile roof; Other exterior features; East/West exposure; Desert front and back landscaping; Irrigation front and back; County-maintained road; Asphalt road surface

Interior

• Kitchen: Built-in microwave; Non-laminate counters; Gas range stub; Kitchen island; Pantry / walk-in pantry
• Bedrooms: 3 bedrooms (possible)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans; Programmable thermostat
• Interior features: High-speed internet available; Granite counters; Double vanity in bathroom; Breakfast bar; 9'+ flat ceilings; No interior steps; Kitchen island; Pantry with walk-in pantry; Full bath in master bedroom; Separate shower and tub; Dual-pane and tinted windows; See remarks
• Laundry & utility: Indoor laundry; Energy Star (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $445k.

Deal economics

• At list price, monthly cash flow is $-893 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (35.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (47.7% below list).
• Recommended offer: $233k (47.7% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 3.2% in San Tan Valley — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 54/100 on livability (#282 in AZ) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment B+; Watch: crime D+, amenities F, commute F.
• Florence Unified School District (4437) (rural): math 16% / reading 24% proficiency, ranked #178 of 249 in AZ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Florence K-8 (math 17% / reading 23%, grade F, #742 of 1,109 statewide, top 67%, 771 students, 56% FRL); Florence High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 796 students, 44% FRL).
• Market conditions: 488 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $44k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $24k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $232,763 (47.7% 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 58 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.52% ✗
• Cap rate: 3.88%
• Cash-on-cash: -8.61%
• DSCR: 0.62
• GRM: 15.9

CMA / ARV

• ARV (median comp): $500,762
• List price: $444,900
• Delta: -11.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2057 W Briana Way	0.14mi	4/2.5 (+1)	2,325 (+6%)	1mo	$425,000	$183	78
1711 W Paisley Dr	0.38mi	4/2.0 (+1)	2,215 (+1%)	0mo	$395,000	$178	74
35401 N Thurber Rd	0.48mi	4/2.0 (+1)	2,215 (+1%)	0mo	$422,000	$191	69
2069 W Kenton Way	0.18mi	3/2.0	1,899 (-14%)	0mo	$379,000	$200	67
22837 E Starflower Dr	0.37mi	4/3.0 (+1)	2,379 (+8%)	1mo	$528,000	$222	61
22475 E Watford Dr	0.68mi	4/3.0 (+1)	2,164 (-2%)	1mo	$507,999	$235	58
22460 E Happy Rd	0.68mi	4/3.0 (+1)	2,164 (-2%)	1mo	$475,000	$220	58
22470 E Watford Dr	0.71mi	4/3.0 (+1)	2,164 (-2%)	1mo	$509,999	$236	56
23033 E Diana Way	0.39mi	3/2.0	1,877 (-15%)	1mo	$464,000	$247	55
22472 E Happy Rd	0.67mi	3/2.0	1,877 (-15%)	1mo	$469,999	$250	41
22476 E Watford Dr	0.71mi	3/2.0	1,877 (-15%)	1mo	$484,999	$258	40
22452 E Watford Dr	0.73mi	3/2.0	1,877 (-15%)	1mo	$479,999	$256	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.49×
• Total profit: $185,226
• Equity at exit: $400,801

10-year hold

• IRR: 17.0%
• Equity multiple: 5.74×
• Total profit: $589,860
• Equity at exit: $864,343

Cash invested: $124,572 (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 85144

• Home prices YoY: 7.2%
• Active inventory: 488
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $2,328 high
• Mortgage (P&I): −$2,333
• Tax from tax record: −$129 /mo · $1,545/yr
• Insurance: −$185
• HOA: −$85
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-893

Break-even live

Break-even rent $3,459

Max offer price $287,072

Occupancy floor —

Sensitivity live

Price	-10% $-642	-5% $-768	+0% $-893	+5% $-1,019	+10% $-1,145
Rent	-10% $-1,077	-5% $-985	+0% $-893	+5% $-801	+10% $-710
Rate	-1.0pp $-669	-0.5pp $-780	base $-893	+0.5pp $-1,009	+1.0pp $-1,126

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: $111,225
• Closing costs: $13,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2541 W Canyon Way San Tan Valley, AZ	4.0	2.5	2485	$2,100	$0.85	19d	1	0.16mi
2027 W Kenton Way San Tan Valley, AZ	3.0	2.0	1733	$2,091	$1.21	23d	1	0.21mi
2005 W Aston Dr San Tan Valley, AZ	4.0	1.5	2554	$2,350	$0.92	6d	1	0.22mi
35244 N Zachary Rd San Tan Valley, AZ	3.0	2.0	1491	$2,275	$1.53	44d	1	0.31mi
35828 N Zachary Rd San Tan Valley, AZ	4.0	3.0	2256	$1,789	$0.79	25d	1	0.39mi
22813 E Starflower Dr Queen Creek, AZ	4.0	3.5	2694	$2,999	$1.11	6d	1	0.39mi
2822 W Blue River Dr San Tan Valley, AZ	3.0	2.0	1609	$2,395	$1.49	44d	1	0.41mi
23074 E Diana Way Queen Creek, AZ	3.0	2.0	1877	$2,195	$1.17	44d	1	0.47mi
2049 W Gold Mine Way San Tan Valley, AZ	4.0	2.0	1585	$2,085	$1.32	6d	1	0.53mi
1345 W Corriente Dr San Tan Valley, AZ	3.0	2.0	1526	$1,795	$1.18	44d	1	0.57mi
22815 E Watford Dr Queen Creek, AZ	4.0	3.0	2373	$2,800	$1.18	5d	1	0.57mi
1274 W Jamaica Hope Way San Tan Valley, AZ	3.0	2.0	1629	$1,995	$1.22	25d	1	0.61mi
34437 N Picket Post Dr San Tan Valley, AZ	4.0	3.0	1507	$1,650	$1.09	44d	1	0.62mi
1278 W Stephanie Ln San Tan Valley, AZ	4.0	3.0	1924	$2,100	$1.09	6d	1	0.63mi
2828 Patagonia Ct Queen Creek, AZ	3.0	2.5	2230	$2,500	$1.12	44d	1	0.71mi
22457 E Watford Dr Queen Creek, AZ	4.0	3.0	2164	$2,650	$1.22	44d	1	0.72mi
1094 W Jamaica Hope Way San Tan Valley, AZ	4.0	3.0	2640	$2,100	$0.80	44d	1	0.73mi
26358 S 224th Pl Queen Creek, AZ	3.0	2.0	1877	$2,135	$1.14	44d	1	0.75mi
23059 E Pegasus Pkwy Queen Creek, AZ	4.0	3.0	1947	$2,498	$1.28	23d	1	0.81mi
23059 E Pegasus Pkwy Queen Creek, AZ	4.0	3.0	1951	$2,398	$1.23	21d	1	0.81mi
3439 W Oil Well Rd San Tan Valley, AZ	3.0	2.0	1595	$2,500	$1.57	44d	1	0.83mi
1277 W Busa Dr San Tan Valley, AZ	4.0	2.0	2136	$4,000	$1.87	6d	1	0.85mi
878 W Ayrshire Trl San Tan Valley, AZ	3.0	2.0	2026	$2,315	$1.14	0d	1	0.88mi
3541 Dreamy Draw Dr Queen Creek, AZ	4.0	2.5	1918	$2,700	$1.41	25d	1	0.89mi
1238 W Dana Dr San Tan Valley, AZ	4.0	2.0	1910	$2,100	$1.10	0d	1	0.92mi
35032 N Barrel Rd San Tan Valley, AZ	3.0	2.5	2213	$3,900	$1.76	0d	1	0.94mi
36501 N Senepol St San Tan Valley, AZ	4.0	2.0	1696	$2,300	$1.36	12d	1	0.95mi
34973 N Augite Way San Tan Valley, AZ	4.0	2.5	2614	$4,350	$1.66	0d	1	0.96mi
1151 W Dana Dr San Tan Valley, AZ	4.0	2.0	1909	$2,399	$1.26	25d	1	0.97mi
33897 N Wash View Rd San Tan Valley, AZ	3.0	2.0	1721	$1,980	$1.15	4d	1	0.99mi
763 W Brangus Way San Tan Valley, AZ	3.0	2.0	1780	$1,950	$1.10	25d	1	0.99mi
3047 W Dancer Ln San Tan Valley, AZ	3.0	2.0	1454	$1,915	$1.32	44d	1	1.00mi
880 W Busa Dr San Tan Valley, AZ	3.0	2.5	1905	$1,869	$0.98	17d	1	1.02mi
880 W Busa Dr San Tan Valley, AZ	3.0	2.5	1905	$1,869	$0.98	16d	1	1.02mi
3102 W Belle Ave San Tan Valley, AZ	4.0	2.0	1909	$1,900	$1.00	16d	1	1.04mi
3102 W Belle Ave San Tan Valley, AZ	4.0	2.0	1909	$1,900	$1.00	14d	1	1.04mi
4001 W Brass Ln San Tan Valley, AZ	4.0	2.5	2432	$2,750	$1.13	44d	1	1.04mi
925 W Danish Red Trl San Tan Valley, AZ	3.0	2.0	1992	$1,906	$0.96	25d	1	1.04mi
1177 W Desert Glen Dr San Tan Valley, AZ	4.0	2.0	1988	$2,100	$1.06	44d	1	1.04mi
25796 S 224th Pl Queen Creek, AZ	4.0	3.0	2085	$2,700	$1.29	25d	1	1.05mi

HOA detail

• Monthly dues: $85 · $1,020/yr

Listing history 25 events

1. 2026-06-21
   days on market $444,900 Active 58 DOM
2. 2026-06-18
   days on market $444,900 Active 55 DOM
3. 2026-06-17
   days on market $444,900 Active 54 DOM
4. 2026-06-16
   days on market $444,900 Active 53 DOM
5. 2026-06-15
   days on market $444,900 Active 52 DOM
6. 2026-06-13
   days on market $444,900 Active 50 DOM
7. 2026-06-13
   pricedays on market $444,900 Active 49 DOM
8. 2026-06-09
   days on market $449,900 Active 46 DOM
9. 2026-06-08
   days on market $449,900 Active 45 DOM
10. 2026-06-07
    days on market $449,900 Active 44 DOM
11. 2026-06-04
    days on market $449,900 Active 41 DOM
12. 2026-06-03
    days on market $449,900 Active 40 DOM
13. 2026-06-02
    days on market $449,900 Active 39 DOM
14. 2026-06-02
    price $449,900 Active 38 DOM
15. 2026-06-01
    days on market $460,000 Active 38 DOM
16. 2026-05-31
    days on market $460,000 Active 37 DOM
17. 2026-05-16
    price $460,000 1232-char remark
18. 2026-04-24
    listed $469,000 Active 1232-char remark
19. 2022-09-01
    historical
20. 2022-08-24
    price $489,900
21. 2022-08-01
    price $499,900
22. 2022-07-27
    price $514,900
23. 2022-07-19
    price $519,000
24. 2022-06-27
    price $559,900
25. 2022-06-09
    listed $575,000 Active

ⓘ 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: $1,545 · $129/mo
• Projected year-2 tax: $2,936 · $245/mo
• Expected delta: +$1,391/yr (+$116/mo · 90.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,932
• − Mortgage interest: −$24,921
• − Property taxes: −$1,545
• − Insurance: −$2,224
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − HOA: −$1,020
• − Depreciation: −$12,943
• Taxable loss: −$19,191
• Est. tax savings @ 24.0%: +$4,606
• After-tax cash flow: $-6,115/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: Florence Unified School District (4437)
• NCES district ID: 0402920
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $54,426
• Composite: 18.31/100
• National rank: #8950
• State rank: #178 of 249 in AZ

Livability — San Tan Valley

• Score: 54/100
• State rank: #282
• US rank: #24192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Tan Valley, AZ

Population outlook (Pinal County) Hauer SSP2

• Today (2025): 437,574 people
• By 2030: 446,903 · +2.1%
• By 2040: 452,589 · +3.4%
• By 2050: 444,126 · +1.5%
• By 2075: 430,300 · -1.7%
• By 2100: 393,536 · -10.1%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▲ 24.94%
• Current HPI: 372.52
• 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

-22.6% since first listed

11 events — show timeline

• 2026-06-11 Price Changed $444,900 ARMLS
• 2026-06-01 Price Changed $449,900 ARMLS
• 2026-05-16 Price Changed $460,000 ARMLS
• 2026-04-24 Listed $469,000 ARMLS
• 2022-09-01 Listing Removed — ARMLS
• 2022-08-24 Price Changed $489,900 ARMLS
• 2022-08-01 Price Changed $499,900 ARMLS
• 2022-07-27 Price Changed $514,900 ARMLS
• 2022-07-19 Price Changed $519,000 ARMLS
• 2022-06-27 Price Changed $559,900 ARMLS
• 2022-06-09 Listed $575,000 ARMLS

Property tax history

+1.4%/yr

Latest (2025): $1,545 · +2.0% YoY. Source: county tax records.