151 E Patton Ave

Coolidge, AZ 85128

$232,000D

3 bd · 2.5 ba · 1,640 sqft · Built 2019 · SingleFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,770/mo
• Mortgage (P&I): −$1,217
• Tax + insurance: −$199
• HOA: −$58
• Vac / Maint / Mgmt: −$372
• Net cashflow: $-75/mo
• Annual: $-898/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 0.76%
• Cash to close: $64,960

Investor read

• This is a 3-bed/2.5-bath single-family listed at $232k.
• At list price, monthly cash flow is $-75 ($-898/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (23.7% below list).
• It's been on market 73 days — a 6% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (23.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#235 in AZ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Coolidge Unified District (4442) (town): math 8% / reading 14% proficiency, ranked #229 of 249 in AZ (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: West Elementary School (math 6% / reading 13%, grade F, #1,037 of 1,109 statewide, top 94%, 733 students, 74% FRL); Coolidge Jr. High School (math 7% / reading 11%, grade F, #200 of 218 statewide, top 93%, 362 students, 80% FRL); Coolidge High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 640 students, 68% FRL).
• Market conditions: Rents flat; 271 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• 3 sale attempts since 7y ago 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 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.5% in Coolidge — 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.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 73 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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?
• 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.