1855 W Wickenburg Way #118

Wickenburg, AZ 85390

$15,000C-

1 bd · 1.0 ba · 624 sqft · Built 1970 · Manufactured · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,612/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$25
• HOA: −$0
• Vac / Maint / Mgmt: −$339
• Net cashflow: $1,170/mo
• Annual: $14,040/yr
• Cap rate: 99.89%
• Cash-on-cash: 334.29%
• DSCR: 15.87
• 1% rule: 10.75%
• Cash to close: $4,200

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $15k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• It's been on market 41 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• 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: 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.
• Zoned schools: Hassayampa Elementary School (math 37% / reading 32%, grade F, #471 of 1,109 statewide, top 44%, 284 students, 50% FRL); Vulture Peak Middle School (math 27% / reading 32%, grade F, #84 of 218 statewide, top 41%, 162 students, 51% FRL); Wickenburg High School (math 27% / reading 32%, grade F, #120 of 381 statewide, top 34%, 460 students, 40% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 378 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→11/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 99.9% 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.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.