449 S East St · Globe, AZ 85501

$110,000

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 109 Days on market

Built 1950 9,797 sqft lot Est $214k · 49% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom, 2-bath home offers 1,170 square feet of living space and sits on a generous 9,797 sq. ft. lot, providing plenty of room for expansion, outdoor living, or future improvements. The property is a true handyman special, ideal for investors, renovators, or buyers looking to customize a home to their vision. Interior improvements are partially complete, with drywall and flooring already installed, and building materials will convey, giving the new owner a head start on completing the project. Additional storage located out back adds extra functionality. With the heavy lifting already started, this property offers a solid foundation and excellent upside potential. Bring your tools,

Key facts

• Solid foundation
• Additional storage
• Upside potential

Tags

• INTERIOR IMPROVEMENTS
• ADDITIONAL STORAGE
• SOLID FOUNDATION
• UPSIDE POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 5.8% in Globe — 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 62/100 on livability (#145 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities D+, health & safety D+, crime F.
• Globe Unified District (4208) (town): math 11% / reading 21% proficiency, ranked #206 of 249 in AZ (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Copper Rim Elementary School (math 14% / reading 22%, grade F, #796 of 1,109 statewide, top 72%, 765 students, 56% FRL); High Desert Middle School (math 9% / reading 18%, grade F, #167 of 218 statewide, top 77%, 407 students, 55% FRL); Globe High School (math 12% / reading 22%, grade F, #252 of 381 statewide, top 67%, 498 students, 46% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 63 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 217 units permitted in Gila County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gila County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $40k; list at $110k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.57% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.05%
• DSCR: 2.20
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $214,110
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 E Cottonwood St	0.19mi	3/1.0 (+1)	1,076 (-8%)	3mo	$220,000	$204	70
322 W Maple St	0.51mi	2/1.0	1,160 (-1%)	22mo	$100,000	$86	57
452 E Maple St	0.10mi	3/1.5 (+1)	1,040 (-11%)	16mo	$145,200	$140	56
372 N Fifth St	0.50mi	3/1.5 (+1)	1,081 (-8%)	3mo	$150,000	$139	54
160 Railroad Ct	0.22mi	2/1.0	1,029 (-12%)	24mo	$199,900	$194	50
358 S Seventh St	0.38mi	3/1.0 (+1)	1,053 (-10%)	21mo	$228,000	$217	43
415 E Mesquite St	0.41mi	2/2.0	1,312 (+12%)	19mo	$239,500	$183	40
385 W Mesquite St	0.63mi	2/2.0	1,096 (-6%)	20mo	$45,000	$41	39
351 E Cedar St	0.37mi	3/1.0 (+1)	1,342 (+15%)	22mo	$250,000	$186	35
821 N Sutherland St	0.70mi	1/1.0 (-1)	1,030 (-12%)	19mo	$165,000	$160	26

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.86×
• Total profit: $26,373
• Equity at exit: $16,401

10-year hold

• IRR: 29.1%
• Equity multiple: 3.59×
• Total profit: $79,794
• Equity at exit: $9,511

Cash invested: $30,800 (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 85501

• Home prices YoY: -12.1%
• Active inventory: 63
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,727 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$47 /mo · $566/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $694

Break-even live

Break-even rent $848

Max offer price $110,000

Occupancy floor 55%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
877 E Sycamore St Unit A Globe, AZ	2.0	2.0	1500	$2,000	$1.33	24d	1	0.27mi
877 E Sycamore St Unit C Globe, AZ	1.0	1.0	900	$1,450	$1.61	24d	1	0.27mi

Listing history 7 events

1. 2026-04-20
   status Pending
2. 2026-02-01
   status Active
3. 2026-01-27
   status Pending
4. 2026-01-04
   status Active
5. 2025-12-30
   status Pending
6. 2025-12-22
   listed $110,000 Active
7. 2019-05-07
   soldstatus $40,000

ⓘ 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: $566 · $47/mo
• Projected year-2 tax: $726 · $60/mo
• Expected delta: +$160/yr (+$13/mo · 28.3%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,723
• − Mortgage interest: −$6,162
• − Property taxes: −$566
• − Insurance: −$550
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$3,200
• Taxable income: $6,929
• Est. tax owed @ 24.0%: −$1,663
• After-tax cash flow: $6,670/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: Globe Unified District (4208)
• NCES district ID: 0403500
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 21% ▼ -5.00%
• Median HH income: $42,829
• Composite: 13.87/100
• National rank: #9485
• State rank: #206 of 249 in AZ

Livability — Globe

• Score: 62/100
• State rank: #145
• US rank: #17153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Globe, AZ
• Population (ZIP): 12,353

Population outlook (Gila County) Hauer SSP2

• Today (2025): 50,229 people
• By 2030: 48,202 · -4.0%
• By 2040: 44,101 · -12.2%
• By 2050: 41,041 · -18.3%
• By 2075: 37,536 · -25.3%
• By 2100: 32,485 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 54% Hispanic / Latino 36% Two or more races 16% Native American 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 84% English-only · Spanish 12% Tagalog/Filipino 1%

Political lean MEDSL · Gila

• 2024 margin: Solid R (+37.6) · D 30.8% · R 68.4%
• 2008→2024 swing: -9.8pp toward R · 2008: -27.8pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+34.1 2016: R+32.4 2012: R+26.4 2008: R+27.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.96%
• Current HPI: 296.458
• 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

+175.0% since first listed

7 events — show timeline

• 2026-04-20 Pending — ARMLS
• 2026-02-01 Relisted — ARMLS
• 2026-01-27 Pending — ARMLS
• 2026-01-04 Relisted — ARMLS
• 2025-12-30 Pending — ARMLS
• 2025-12-22 Listed $110,000 ARMLS
• 2019-05-07 Sold (Public Records) $40,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $566 · +5.9% YoY. Source: county tax records.