3644 W Vista Del Viejo --

Bisbee, AZ 85603

$150,000F

1 bd · 1.0 ba · 780 sqft · Built 1972 · Manufactured · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $895/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $-174/mo
• Annual: $-2,090/yr
• Cap rate: 4.90%
• Cash-on-cash: -4.98%
• DSCR: 0.78
• 1% rule: 0.60%
• Cash to close: $42,000

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (40.3% below list).
• It's been on market 150 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (40.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#151 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D, amenities F, commute F.
• Bisbee Unified District (4169) (town): math 10% / reading 19% proficiency, ranked #218 of 249 in AZ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Greenway Primary School (math 17% / reading 27%, grade F, #687 of 1,109 statewide, top 65%, 212 students, 76% FRL); Lowell School (math 8% / reading 17%, grade F, #174 of 218 statewide, top 81%, 116 students, 66% FRL); Bisbee High School (math 8% / reading 17%, grade F, #281 of 381 statewide, top 75%, 352 students, 53% FRL).
• Market conditions: 137 active listings in the ZIP; 437 units permitted in Cochise County in 2024 (6 in 5+ unit buildings).
• Cochise County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y 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 $82k; list at $150k implies a 82% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 2.1% in Bisbee — 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

• 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?
• It's been on market 150 days. Have you received any prior offers? Is the seller open to a 40% 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.
• 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?
• 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?
• 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.