6355 N Barcelona Ln #401

Casas Adobes, AZ 85704

$83,500B

1 bd · 1.0 ba · 672 sqft · Built 1972 · Townhouse · Active · 161 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $996/mo
• Mortgage (P&I): −$438
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $209/mo
• Annual: $2,513/yr
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• 1% rule: 1.19%
• Cash to close: $23,380

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $84k. Condition is rated good.
• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $84k).
• It's been on market 161 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $577 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#8 in AZ, #2,353 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, employment B+; Watch: amenities D.
• Amphitheater Unified District (4406) (suburban): math 32% / reading 40% proficiency, ranked #85 of 249 in AZ (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: The Innovation Academy (math 62% / reading 72%, grade B+, #73 of 1,109 statewide, top 7%, 411 students, 9% FRL); La Cima Middle School (math 12% / reading 19%, grade F, #155 of 218 statewide, top 71%, 421 students, 78% FRL); Amphitheater High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 1,163 students, 80% FRL) — zoned schools average 56% FRL vs 24% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 213 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 5,268 units permitted in Pima County in 2024 (996 in 5+ unit buildings).
• Pima County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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 9.3% vs local median 3.5% in Casas Adobes — 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 is only 15% of the median local income ($82k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Worn appearance
• Minor: Kitchen countertops — Need cleaning