4410 N Parrot Ln

Picture Rocks, AZ 85653

$250,000C

3 bd · 2.0 ba · 1,792 sqft · Built 1998 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,232/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$190
• HOA: −$0
• Vac / Maint / Mgmt: −$469
• Net cashflow: $263/mo
• Annual: $3,152/yr
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• 1% rule: 0.89%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $250k.
• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (10.7% below list).
• It's been on market 33 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $223k (10.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#261 in AZ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, amenities F.
• Marana Unified District (4404) (suburban): math 31% / reading 37% proficiency, ranked #83 of 249 in AZ (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marana Middle School (math 24% / reading 30%, grade F, #97 of 218 statewide, top 45%, 907 students, 44% FRL); Marana High School (math 21% / reading 24%, grade F, #210 of 381 statewide, top 55%, 2,379 students, 36% FRL).
• Market conditions: Rents rising (+3.4%/yr); 412 active listings in the ZIP; 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.
• 4 sale attempts since 23y 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.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.6% vs local median 5.7% in Picture Rocks — 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 runs 31% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.