234 W Bonita St · Benson, AZ 85602

$150,000

2 bd · 1.0 ba · 1,349 sqft · SingleFamily public records · 13 Days on market

Built 1948 0.33 ac lot Est $229k · 35% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.6/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to this charming 1948 home in the heart of Benson. Situated on a large lot with mature trees and established vegetation, this property is full of character and unique vintage details. A separate art studio offers space for creativity, hobbies, or a workshop. Conveniently located near schools, shopping, and dining, this home needs rehabilitation and is being sold as-is. A great opportunity to restore a truly special property with endless potential.

Key facts

• Near schools
• Near shopping
• Art studio

Tags

• LARGE LOT
• MATURE TREES
• ESTABLISHED VEGETATION
• ART STUDIO
• NEAR SCHOOLS
• NEAR SHOPPING

Property features AI

Finance

• Other: Zoned Benson - R1 - 8

Exterior

• Utilities: Public water; Sewer connected; Electric service (implied)
• Home design: Single family residence; One story; Faces west; Fixer condition
• Construction: Block construction; Shingle roof; Built area approximately 1,349
• Exterior features: Gazebo; Workshop; Flower beds; Shrubs; Sprinklers in front; Adjacent to alley; East/West exposure; Paved road (city maintained); Sidewalks; Street lights

Interior

• Kitchen: Gas range
• Flooring: Vinyl flooring; Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Evaporative cooling
• Interior features: Gas range; Laundry closet
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $44 ($531/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 $125k (16.3% below list).
• Recommended offer: $125k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.5% in Benson — 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 71/100 on livability (#34 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: commute D, employment D, amenities F.
• Benson Unified School District (79226) (town): math 28% / reading 39% proficiency, ranked #98 of 249 in AZ (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Benson Primary School (math 28% / reading 42%, grade F, #466 of 1,109 statewide, top 42%, 560 students, 54% FRL); Benson Middle School (math 29% / reading 39%, grade F, #67 of 218 statewide, top 31%, 295 students, 52% FRL); Benson High School (math 27% / reading 32%, grade F, #120 of 381 statewide, top 34%, 443 students, 38% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 263 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 437 units permitted in Cochise County in 2024 (6 in 5+ unit buildings).

Forward outlook

• 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.
• Cochise County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,495 (16.3% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $229,330
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
467 W Duane St	0.27mi	3/1.0 (+1)	1,421 (+5%)	7mo	$208,000	$146	68
326 W Bonita St	0.09mi	3/2.0 (+1)	1,205 (-11%)	6mo	$233,840	$194	64
648 W Cactus St	0.43mi	3/2.0 (+1)	1,391 (+3%)	7mo	$250,000	$180	60
254 W La Cuesta Dr	0.50mi	3/2.0 (+1)	1,380 (+2%)	5mo	$269,000	$195	60
165 E 6th St	0.40mi	3/1.0 (+1)	1,232 (-9%)	3mo	$160,000	$130	60
487 E Patrick Dr	0.49mi	3/2.0 (+1)	1,278 (-5%)	1mo	$250,000	$196	59
660 S High St	0.21mi	3/2.0 (+1)	1,225 (-9%)	14mo	$208,000	$170	54
346 Gila St	0.48mi	2/2.0	1,429 (+6%)	13mo	$237,000	$166	53
850 S Ridge Dr	0.38mi	3/2.0 (+1)	1,438 (+7%)	13mo	$203,000	$141	51
553 E 6th St	0.62mi	3/2.0 (+1)	1,380 (+2%)	13mo	$235,000	$170	48
163 S San Pedro St	0.53mi	3/1.0 (+1)	1,161 (-14%)	0mo	$205,000	$177	47
538 E 6th St	0.59mi	3/2.0 (+1)	1,152 (-15%)	12mo	$189,500	$164	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-21,523
• Equity at exit: $22,365

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-15,258
• Equity at exit: $12,969

Cash invested: $42,000 (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 85602

• Home prices YoY: -23.4%
• Active inventory: 263
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$98 /mo · $1,176/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $44

Break-even live

Break-even rent $1,199

Max offer price $150,000

Occupancy floor 91%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
264 W 6th St Unit "C" Benson, AZ	3.0	2.0	1120	$1,350	$1.21	43d	1	0.37mi
732 W 4th St Benson, AZ	2.0	1.0	960	$1,000	$1.04	23d	1	0.85mi

Listing history 11 events

1. 2026-06-18
   days on market $150,000 Active 13 DOM
2. 2026-06-17
   days on market $150,000 Active 12 DOM
3. 2026-06-16
   days on market $150,000 Active 11 DOM
4. 2026-06-15
   days on market $150,000 Active 10 DOM
5. 2026-06-13
   days on market $150,000 Active 8 DOM
6. 2026-06-13
   days on market $150,000 Active 7 DOM
7. 2026-06-10
   days on market $150,000 Active 5 DOM
8. 2026-06-09
   days on market $150,000 Active 4 DOM
9. 2026-06-08
   days on market $150,000 Active 3 DOM
10. 2026-06-07
    remarks 469-char remark
11. 2026-06-07
    listed $150,000 Active 2 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: $1,176 · $98/mo
• Projected year-2 tax: $1,176 · $98/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 8 d/yr ≥101°F today · 21 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: $15,059
• − Mortgage interest: −$8,402
• − Property taxes: −$1,176
• − Insurance: −$750
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$4,364
• Taxable loss: −$2,042
• Est. tax savings @ 24.0%: +$490
• After-tax cash flow: $1,021/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: Benson Unified School District (79226)
• NCES district ID: 0400212
• Math proficiency: 28% ▼ -24.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $40,662
• Composite: 28.17/100
• National rank: #6811
• State rank: #98 of 249 in AZ

Livability — Benson

• Score: 71/100
• State rank: #34
• US rank: #6661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benson, AZ
• Population (ZIP): 9,860

Population outlook (Cochise County) Hauer SSP2

• Today (2025): 113,402 people
• By 2030: 106,197 · -6.4%
• By 2040: 92,166 · -18.7%
• By 2050: 79,805 · -29.6%
• By 2075: 56,831 · -49.9%
• By 2100: 35,103 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 15% Two or more races 13%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 4% Slovak 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Cochise

• 2024 margin: Strong R (+23.1) · D 37.8% · R 61.0% · Other 1.2%
• 2008→2024 swing: -2.5pp toward R · 2008: -20.7pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+22.6 2012: R+24.0 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.74%
• Current HPI: 182.9079
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-06 Listed $150,000 MLSSAZ

Property tax history

+1.2%/yr

Latest (2025): $1,176 · +3.2% YoY. Source: county tax records.