900 N San Marcos Dr · Apache Junction, AZ 85120

$50,000

2 bd · 1.0 ba · 980 sqft · Manufactured · 23 Days on market

Built 1977 Est $47k · 6% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.7/15.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

14x70 2 bdrm 1 bth. Large living room and kitchen open plan with bar. Large master bdrm and good size 2nd bdrm. Double windows. Partially furnished. All appliances stay. Newer heat pump works great. Large covered porch and drive way. Two sheds with electric. Very nice for it& apos; s age. Low lot rent. Bring your offer or questions

Key facts

• Double windows
• Large covered porch
• Large living room

Tags

• LARGE LIVING ROOM
• OPEN PLAN KITCHEN
• DOUBLE WINDOWS
• LARGE COVERED PORCH
• TWO SHEDS WITH ELECTRIC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $929 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 3.5% in Apache Junction — 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 66/100 on livability (#70 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Apache Junction Unified District (4443) (suburban): math 15% / reading 20% proficiency, ranked #195 of 249 in AZ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents falling (-3.5%/yr); 455 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 4→10/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.23% ✓
• Cap rate: 28.60%
• Cash-on-cash: 79.65%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $47,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 N San Marcos Dr #95	0.03mi	2/1.0	980 (0%)	4mo	$20,000	$20	96
980 N Ironwood Dr #15	0.56mi	2/1.0	975 (-0%)	2mo	$77,900	$80	71
985 W Roundup St	0.14mi	2/2.0	896 (-9%)	11mo	$330,000	$368	65
1363 N Plaza Dr #9	0.46mi	2/2.0	1,027 (+5%)	3mo	$135,000	$131	64
1065 N San Marcos Dr #25	0.18mi	2/2.0	1,056 (+8%)	14mo	$48,000	$45	62
800 W Apache Trl #93	0.51mi	2/1.0	888 (-9%)	2mo	$19,969	$22	59
800 W Apache Trl #141	0.49mi	2/1.5	910 (-7%)	11mo	$30,000	$33	54
875 W Smoketree St	0.51mi	2/2.0	1,080 (+10%)	7mo	$337,000	$312	50
800 W Apache Trl N #144	0.49mi	2/1.0	896 (-9%)	16mo	$42,900	$48	50
800 W Apache Trail Trl #147	0.49mi	2/2.0	1,056 (+8%)	17mo	$37,900	$36	46
1776 N San Marcos Dr	0.50mi	2/1.0	841 (-14%)	14mo	$385,000	$458	42
1804 W Tepee St #34	0.71mi	2/1.5	840 (-14%)	16mo	$27,000	$32	28

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 76.4%
• Equity multiple: 4.31×
• Total profit: $46,381
• Equity at exit: $7,455

10-year hold

• IRR: 79.2%
• Equity multiple: 8.03×
• Total profit: $98,423
• Equity at exit: $4,323

Cash invested: $14,000 (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 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 455
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,614 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $929

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 37%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1010	$1,900	$1.88	24d	3	0.63mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	23d	1	0.81mi
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	19d	1	0.81mi
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	4d	1	0.86mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	24d	1	0.96mi
695 E Superstition Blvd Apache Junction, AZ	1.0–3.0	1.0–2.0	983	$1,860	$1.89	1d	13	1.02mi
111 S Outpost Rd Unit 4 Apache Junction, AZ	2.0	1.0	775	$1,175	$1.52	23d	1	1.04mi
960 S Mara Dr Unit 1 Apache Junction, AZ	2.0	1.0	682	$1,450	$2.13	12d	1	1.29mi
455 S Delaware Dr Unit 179 Apache Junction, AZ	2.0	2.0	1060	$2,395	$2.26	24d	1	1.29mi
455 S Delaware Dr Apache Junction, AZ	2.0	2.0	1060	$2,048	$1.93	20d	2	1.29mi

Listing history 15 events

1. 2026-06-18
   days on market $50,000 Active 23 DOM
2. 2026-06-17
   days on market $50,000 Active 22 DOM
3. 2026-06-16
   days on market $50,000 Active 21 DOM
4. 2026-06-15
   days on market $50,000 Active 20 DOM
5. 2026-06-13
   days on market $50,000 Active 18 DOM
6. 2026-06-09
   days on market $50,000 Active 14 DOM
7. 2026-06-08
   days on market $50,000 Active 13 DOM
8. 2026-06-07
   days on market $50,000 Active 12 DOM
9. 2026-06-04
   days on market $50,000 Active 9 DOM
10. 2026-06-03
    days on market $50,000 Active 8 DOM
11. 2026-06-02
    days on market $50,000 Active 7 DOM
12. 2026-06-01
    days on market $50,000 Active 6 DOM
13. 2026-05-31
    days on market $50,000 Active 5 DOM
14. 2026-05-26
    listed $50,000 Active
15. 1986-12-15
    soldstatus $1,020,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 4 d/yr ≥111°F today · 10 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,365
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,549
• − Management: −$1,549
• − Depreciation: −$1,455
• Taxable income: $11,011
• Est. tax owed @ 24.0%: −$2,643
• After-tax cash flow: $8,509/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: Apache Junction Unified District (4443)
• NCES district ID: 0400790
• Math proficiency: 15% ▼ -17.00%
• Reading proficiency: 20% ▼ -13.00%
• Median HH income: $44,930
• Composite: 15.34/100
• National rank: #9325
• State rank: #195 of 249 in AZ

Livability — Apache Junction

• Score: 66/100
• State rank: #70
• US rank: #11242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apache Junction, AZ
• County: Pinal County · 399,947 people
• City population: 56,611
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 31,191
• Household income: $57,786
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 686.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 16% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 3% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -128.31%
• Current HPI: 313.4666
• Rent YoY: ▼ -3.50%
• 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

-95.1% since first listed

2 events — show timeline

• 2026-05-26 Listed $50,000 FSBO.com
• 1986-12-15 Sold (Public Records) $1,020,000 Public Records

Property tax history

-2.6%/yr

Latest (2025): $10,074 · -1.6% YoY. Source: county tax records.