3709 N Florence Blvd · Florence, AZ 85132

$139,900

2 bd · 2.0 ba · 1,464 sqft · Manufactured public records · 32 Days on market

Built 1979 10,000 sqft lot $96/sqft · 22% below area Est $220k · 36% under $101/mo HOA · 6% of rent

---

Why this score? — see what drove the B- 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).

• Cash flow +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.9/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special, Great opportunity in the Florence Gardens 55+ community on a spacious 10,000 sq ft lot with garage. This property offers a chance to update and customize to your own style, making it ideal for a buyer looking to create value. The layout and lot size provide a strong foundation for improvements and renovation.

Key facts

• Spacious lot
• 0.23 acre lot
• Garage

Tags

• FLORENCE GARDENS COMMUNITY
• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.2% in Florence — 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 60/100 on livability (#187 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, 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.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $140k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-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. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

• ARV (median comp): $220,288
• List price: $139,900
• Delta: -36.49%
• 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
3703 N Colorado Ave	0.07mi	3/2.0 (+1)	1,570 (+7%)	0mo	$265,000	$169	79
3716 N Montana Ave	0.31mi	3/2.0 (+1)	1,457 (-0%)	3mo	$150,000	$103	77
806 E Pennsylvania Ave	0.39mi	3/2.0 (+1)	1,457 (-0%)	0mo	$174,900	$120	76
3809 N Kansas Ave	0.43mi	2/2.0	1,501 (+2%)	2mo	$198,500	$132	74
812 E Lancaster Cir	0.44mi	3/2.0 (+1)	1,457 (-0%)	4mo	$260,000	$178	70
3822 N Iowa Ave	0.54mi	2/2.0	1,429 (-2%)	2mo	$280,000	$196	69
800 E Mississippi St	0.03mi	3/2.0 (+1)	1,260 (-14%)	3mo	$210,000	$167	68
813 E Pennsylvania Ave	0.37mi	3/2.0 (+1)	1,569 (+7%)	4mo	$180,000	$115	63
3926 N Florence Blvd	0.51mi	2/2.0	1,561 (+7%)	3mo	$255,000	$163	62
808 E Pennsylvania Ave	0.39mi	2/2.0	1,249 (-15%)	2mo	$196,500	$157	56
3914 N Florence Blvd	0.44mi	2/2.0	1,248 (-15%)	0mo	$205,000	$164	54
3731 N Kansas Ave	0.42mi	3/2.0 (+1)	1,249 (-15%)	2mo	$195,000	$156	49

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,129
• Equity at exit: $20,860

10-year hold

• IRR: 7.0%
• Equity multiple: 1.49×
• Total profit: $19,126
• Equity at exit: $12,096

Cash invested: $39,172 (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 85132

• Home prices YoY: -5.2%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,670 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$58
• HOA: −$101
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $383

Break-even live

Break-even rent $1,185

Max offer price $139,900

Occupancy floor 72%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3611 N Michigan Ave Florence, AZ	2.0	1.5	1441	$1,600	$1.11	44d	1	0.37mi

HOA detail

• Monthly dues: $101 · $1,212/yr

Listing history 6 events

1. 2026-05-11
   status Pending 331-char remark

   Show marketing remark (331 chars)

   Investor special, Great opportunity in the Florence Gardens 55+ community on a spacious 10,000 sq ft lot with garage. This property offers a chance to update and customize to your own style, making it ideal for a buyer looking to create value. The layout and lot size provide a strong foundation for improvements and renovation.

2. 2026-05-06
   price $139,900 331-char remark

   Show marketing remark (331 chars)

   Investor special, Great opportunity in the Florence Gardens 55+ community on a spacious 10,000 sq ft lot with garage. This property offers a chance to update and customize to your own style, making it ideal for a buyer looking to create value. The layout and lot size provide a strong foundation for improvements and renovation.

3. 2026-04-09
   listed $149,000 Active 331-char remark

   Show marketing remark (331 chars)

   Investor special, Great opportunity in the Florence Gardens 55+ community on a spacious 10,000 sq ft lot with garage. This property offers a chance to update and customize to your own style, making it ideal for a buyer looking to create value. The layout and lot size provide a strong foundation for improvements and renovation.

4. 2002-05-17
   soldstatus $85,000
5. 2002-05-17
   soldstatus $85,000
6. 1998-03-02
   soldstatus $77,500

ⓘ 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: $519 · $43/mo
• Projected year-2 tax: $923 · $77/mo
• Expected delta: +$405/yr (+$34/mo · 78.0%)

ⓘ 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 8/10 Severe 5 d/yr ≥112°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,038
• − Mortgage interest: −$7,837
• − Property taxes: −$519
• − Insurance: −$700
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − HOA: −$1,212
• − Depreciation: −$4,070
• Taxable income: $2,495
• Est. tax owed @ 24.0%: −$599
• After-tax cash flow: $3,997/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 — Florence

• Score: 60/100
• State rank: #187
• US rank: #19483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AZ
• County: Pinal County · 399,947 people
• City population: 38,671
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 38,671
• Household income: $79,000
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 102.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 28% Two or more races 9% Black 7% Native American 3%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 5% Portuguese 2% Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 17% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pinal

• 2024 margin: Strong R (+22.1) · D 38.5% · R 60.6%
• 2008→2024 swing: -7.6pp toward R · 2008: -14.5pp · 2024: -22.1pp
• All cycles: 2024: R+22.1 2020: R+17.3 2016: R+19.3 2012: R+17.1 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.75%
• Current HPI: 233.6644
• Rent YoY: ▲ 1.27%
• 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

+80.5% since first listed

6 events — show timeline

• 2026-05-11 Pending — ARMLS
• 2026-05-06 Price Changed $139,900 ARMLS
• 2026-04-09 Listed $149,000 ARMLS
• 2002-05-17 Sold (Public Records) $85,000 Public Records
• 2002-05-17 Sold (Public Records) $85,000 Public Records
• 1998-03-02 Sold (Public Records) $77,500 Public Records

Property tax history

-2.9%/yr

Latest (2025): $519 · +2.3% YoY. Source: county tax records.