450 Palm Dr · Wickenburg, AZ 85390

$625,000

None bd · None ba · 1,751 sqft · MultiFamily public records · 85 Days on market

Built 1986 9,879 sqft lot

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Why this score? — see what drove the D- 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 +11.7/30.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Fully rented fourplex in the heart of Wickenburg--an excellent investment opportunity with immediate income potential! Ideally located within walking distance to historic downtown Wickenburg, this property offers convenience to shopping, dining, and local amenities. Each of the four units features 2 bedrooms and 1 bathroom, providing desirable layouts for tenants and strong rental appeal. With all units currently occupied, this is a turnkey income-producing property ready for its next owner. Whether you're looking to expand your portfolio or secure a solid investment in a growing market, this well-located multi-family property is a must-see!

Key facts

• 9,879 sq ft lot
• 4 parking spots
• Built 1986

Tags

• FULLY RENTED FOURPLEX
• INVESTMENT OPPORTUNITY
• MULTI FAMILY PROPERTY

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative. Per door: $-46/mo.
• To cash-flow at today's rent, offer at most $598k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $523k (16.3% below list).
• Recommended offer: $523k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.0% in Wickenburg — 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 70/100 on livability (#41 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: schools D+, amenities F, commute F.
• Wickenburg Unified District (4236) (rural): math 33% / reading 35% proficiency, ranked #92 of 249 in AZ (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 378 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $5,234/mo this rent would consume 92% of the median local household income ($69k/yr) (locally 251% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($588k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y 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.
• Current owner paid $128k; list at $625k implies a 390% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $523,400 (16.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-112,941
• Equity at exit: $93,190

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-113,147
• Equity at exit: $54,039

Cash invested: $175,000 (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 85390

• Home prices YoY: -17.4%
• Active inventory: 378
• Price-to-rent: 39.8×

Monthly cashflow live

• Estimated rent: $5,234 medium
• Mortgage (P&I): −$3,278
• Tax est. 1.5%: −$781 /mo · $9,375/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,099
• Net cashflow: $-184

Break-even live

Break-even rent $5,467

Max offer price $598,321

Occupancy floor 99%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,236
Total (4 units)			$5,234

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 Northridge Cir Wickenburg, AZ	2.0	2.5	1227	$1,800	$1.47	16d	1	0.24mi
54 Northridge Cir Unit 1 Wickenburg, AZ	2.0	2.0	1227	$1,800	$1.47	3d	1	0.24mi
54 Northridge Cir Wickenburg, AZ	2.0	2.5	1227	$1,800	$1.47	5d	1	0.24mi
737 Dylan Ct Wickenburg, AZ	3.0	2.0	1542	$1,750	$1.13	43d	1	0.41mi
736 Dylan Ct Wickenburg, AZ	3.0	2.0	1543	$1,750	$1.13	43d	1	0.41mi
741 Dylan Ct Wickenburg, AZ	3.0	2.0	1548	$1,645	$1.06	21d	1	0.41mi
757 Dylan Ct Wickenburg, AZ	3.0	2.0	1290	$1,585	$1.23	5d	1	0.44mi
640 Atchison Cir Wickenburg, AZ	3.0	2.0	1611	$3,500	$2.17	43d	1	0.70mi
900 W Hermosa Dr Wickenburg, AZ	3.0	2.0	1737	$3,000	$1.73	43d	1	0.74mi
600 Desert Canyon Rd Wickenburg, AZ	3.0	2.0	1498	$1,850	$1.23	43d	1	1.05mi
70 W Monte Cristo Dr Wickenburg, AZ	3.0	2.0	1338	$3,000	$2.24	10d	1	1.07mi
70 W Monte Cristo Dr Wickenburg, AZ	3.0	2.0	1338	$3,000	$2.24	1d	1	1.07mi
18 W Monte Cristo Dr Wickenburg, AZ	3.0	2.0	1338	$2,100	$1.57	19d	1	1.12mi

Listing history 33 events

1. 2026-06-18
   days on market $625,000 Active 85 DOM
2. 2026-06-17
   days on market $625,000 Active 84 DOM
3. 2026-06-16
   days on market $625,000 Active 83 DOM
4. 2026-06-15
   days on market $625,000 Active 82 DOM
5. 2026-06-13
   days on market $625,000 Active 80 DOM
6. 2026-06-13
   days on market $625,000 Active 79 DOM
7. 2026-06-09
   days on market $625,000 Active 76 DOM
8. 2026-06-08
   days on market $625,000 Active 75 DOM
9. 2026-06-07
   days on market $625,000 Active 74 DOM
10. 2026-06-04
    days on market $625,000 Active 71 DOM
11. 2026-06-03
    days on market $625,000 Active 70 DOM
12. 2026-06-02
    days on market $625,000 Active 69 DOM
13. 2026-06-01
    days on market $625,000 Active 68 DOM
14. 2026-05-31
    days on market $625,000 Active 67 DOM
15. 2026-03-22
    historical $1,100
16. 2026-03-20
    listed $625,000 Active 650-char remark

    Show marketing remark (650 chars)

    Fully rented fourplex in the heart of Wickenburg--an excellent investment opportunity with immediate income potential! Ideally located within walking distance to historic downtown Wickenburg, this property offers convenience to shopping, dining, and local amenities. Each of the four units features 2 bedrooms and 1 bathroom, providing desirable layouts for tenants and strong rental appeal. With all units currently occupied, this is a turnkey income-producing property ready for its next owner. Whether you're looking to expand your portfolio or secure a solid investment in a growing market, this well-located multi-family property is a must-see!

17. 2026-02-25
    listed $1,100
18. 2024-09-09
    historical $1,050
19. 2024-09-06
    listed $1,050
20. 2015-02-13
    soldstatus $127,500
21. 2013-12-14
    historical
22. 2013-09-18
    listed $325,000 Active
23. 2013-03-19
    historical
24. 2013-01-18
    listed $295,000 Active
25. 2008-09-30
    historical
26. 2007-09-10
    listed $475,000
27. 2006-10-03
    historical
28. 2006-06-08
    listed $385,000
29. 2005-07-01
    historical
30. 2005-05-17
    listed $305,000
31. 2004-09-15
    soldstatus $130,000
32. 1998-07-01
    soldstatus $107,730
33. 1986-05-01
    soldstatus $65,000

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 18 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: $62,808
• − Mortgage interest: −$35,010
• − Property taxes: −$9,375
• − Insurance: −$3,125
• − Repairs & maintenance: −$5,025
• − Management: −$5,025
• − Depreciation: −$18,182
• Taxable loss: −$12,933
• Est. tax savings @ 24.0%: +$3,104
• After-tax cash flow: $891/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: Wickenburg Unified District (4236)
• NCES district ID: 0409190
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $47,369
• Composite: 29.27/100
• National rank: #6560
• State rank: #92 of 249 in AZ

Livability — Wickenburg

• Score: 70/100
• State rank: #41
• US rank: #7975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wickenburg, AZ
• County: Maricopa County · 4,537,380 people
• City population: 10,298
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 10,298
• Household income: $68,591
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 251.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.26%
• Current HPI: 314.3169
• Rent YoY: —
• 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

-98.3% since first listed

19 events — show timeline

• 2026-03-22 Rental Removed $1,100 RENTALBEAST
• 2026-03-20 Listed $625,000 ARMLS
• 2026-02-25 Listed for Rent $1,100 RENTALBEAST
• 2024-09-09 Rental Removed $1,050 RENTALBEAST
• 2024-09-06 Listed for Rent $1,050 RENTALBEAST
• 2015-02-13 Sold (Public Records) $127,500 Public Records
• 2013-12-14 Listing Removed — ARMLS
• 2013-09-18 Listed $325,000 ARMLS
• 2013-03-19 Listing Removed — ARMLS
• 2013-01-18 Listed $295,000 ARMLS
• 2008-09-30 Listing Removed — ARMLS
• 2007-09-10 Listed $475,000 ARMLS
• 2006-10-03 Listing Removed — ARMLS
• 2006-06-08 Listed $385,000 ARMLS
• 2005-07-01 Listing Removed — ARMLS
• 2005-05-17 Listed $305,000 ARMLS
• 2004-09-15 Sold (Public Records) $130,000 Public Records
• 1998-07-01 Sold (Public Records) $107,730 Public Records
• 1986-05-01 Sold (Public Records) $65,000 Public Records

Property tax history

-3.3%/yr

Latest (2025): $500 · -1.4% YoY. Source: county tax records.