445 E Hondo Ave · Apache Junction, AZ 85119

$595,000

8 bd · 4.0 ba · 2,880 sqft · MultiFamily public records · 43 Days on market

Built 1983

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• Livability +3.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 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

Investment opportunity in Apache Junction! This fourplex features four 2-bedroom, 1-bathroom units situated on a spacious lot. While the property requires some TLC, it presents a fantastic chance to add value and generate strong rental income in a growing area. Investors & Owner Occupants Invited. All Facts and Figures Approximate, Buyer to Verify To Their Satisfaction

Key facts

• 2 parking spots
• Built 1983
• Listed 42 days

Property features AI

Finance

• Financial info: Unit rents reported (example): $925 for a 2-bed unit
• HOA & community: No pool

Exterior

• Parking: Two total parking spaces; Two open parking spaces; On-street parking available; More than one space per unit
• Utilities: SRP electric service; Public sewer; City franchise water
• Home design: Fee simple ownership; Gravel road access
• Construction: One building
• Exterior features: Wood siding; Wood frame construction; Painted exterior; Composition roof

Interior

• Kitchen: Free-standing range; Refrigerator
• Bedrooms: Two bedrooms
• Flooring: Laminate flooring
• Bathrooms: One bathroom
• Heating & cooling: Heat pump heating; Central electric air conditioning
• Interior features: Free-standing range; Refrigerator

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $595k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $267/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $578k (2.9% below list).
• Recommended offer: $577k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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+, amenities F, commute 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.
• Zoned schools: Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL).
• Market conditions: Rents rising (+1.6%/yr); 357 active listings in the ZIP; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• At $5,778/mo this rent would consume 97% of the median local household income ($72k/yr) (locally 305% 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 $18k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($577k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $115k; list at $595k implies a 417% 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 $577,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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?
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 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: 0.97% ✗
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.57% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-36,837
• Equity at exit: $88,716

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $21,704
• Equity at exit: $51,445

Cash invested: $166,600 (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 85119

• Home prices YoY: -33.5%
• Rents YoY: 1.6%
• Active inventory: 357
• Price-to-rent: 34.3×

Monthly cashflow live

• Estimated rent: $5,778 high
• Mortgage (P&I): −$3,120
• Tax from tax record: −$128 /mo · $1,533/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,213
• Net cashflow: $1,069

Break-even live

Break-even rent $4,425

Max offer price $595,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,406	-5% $1,237	+0% $1,069	+5% $900	+10% $732
Rent	-10% $612	-5% $840	+0% $1,069	+5% $1,297	+10% $1,525
Rate	-1.0pp $1,368	-0.5pp $1,220	base $1,069	+0.5pp $915	+1.0pp $758

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,780
Total (4 units)			$5,778

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $595,000 Active 43 DOM
2. 2026-06-18
   days on market $595,000 Active 40 DOM
3. 2026-06-17
   days on market $595,000 Active 39 DOM
4. 2026-06-16
   days on market $595,000 Active 38 DOM
5. 2026-06-15
   days on market $595,000 Active 37 DOM
6. 2026-06-13
   days on market $595,000 Active 35 DOM
7. 2026-06-10
   remarks 374-char remark
8. 2026-06-10
   listed $595,000 Active 31 DOM

ⓘ 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: $1,533 · $128/mo
• Projected year-2 tax: $3,927 · $327/mo
• Expected delta: +$2,394/yr (+$200/mo · 156.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,336
• − Mortgage interest: −$33,329
• − Property taxes: −$1,533
• − Insurance: −$2,975
• − Repairs & maintenance: −$5,547
• − Management: −$5,547
• − Depreciation: −$17,309
• Taxable income: $3,096
• Est. tax owed @ 24.0%: −$743
• After-tax cash flow: $12,082/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): 25,420
• Household income: $71,585
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 305.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 12% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 5% Portuguese 3% Lithuanian 3%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 11%

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: ▼ -138.19%
• Current HPI: 274.3808
• Rent YoY: ▲ 1.57%
• 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

+837.0% since first listed

8 events — show timeline

• 2026-06-09 Relisted — ARMLS
• 2026-06-09 Price Changed $595,000 ARMLS
• 2026-04-28 Listing Removed — ARMLS
• 2026-04-13 Contingent — ARMLS
• 2026-03-28 Listed $527,000 ARMLS
• 1998-03-12 Sold (Public Records) $115,000 Public Records
• 1994-03-23 Sold (Public Records) $59,118 Public Records
• 1994-03-23 Sold (Public Records) $63,500 Public Records

Property tax history

-0.7%/yr

Latest (2025): $1,533 · +3.3% YoY. Source: county tax records.