17480 N Salerno Dr · Maricopa, AZ 85138

$299,990

4 bd · 2.5 ba · 1,569 sqft · Land · 40 Days on market

Built 2026 5,626 sqft lot $191/sqft · 14% below area Est $350k · 14% under $84/mo HOA · 4% of rent

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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 +13.9/15.0
• Cash flow +8.1/30.0
• Appreciation +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• DSCR +2.1/10.0
• 1% rule +1.8/10.0

Listing remarks

This BRAND NEW home is ready for closing in May! The Dalton is a fabulous, open concept home that will leave your mind BLOWN! This sheer masterpiece features a split 4-bedroom layout, with unreal functionality. It just works! Interior finishes include tile flooring throughout, carpet in the bedrooms, granite counter tops in the kitchen & bathrooms, with white cabinets. Smart home technology is included along with a 14 seer HVAC and energy saving features. Also, this home includes stainless steel appliances, 2'' window blinds, garage door opener, rain gutters, plus front yard desert landscape. Come to Sorrento for a tour! Cash Price.

Key facts

• Tile flooring
• Granite counter tops
• Open concept home

Tags

• OPEN CONCEPT HOME
• TILE FLOORING
• GRANITE COUNTER TOPS
• SMART HOME TECHNOLOGY
• ENERGY SAVING FEATURES
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Lot about 5,626 sq ft (assessor); Directions available
• HOA & community: HOA with monthly fee of $84.50 covering exterior maintenance; Community features: tennis courts, playground, biking/walking path

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2-car garage with garage door opener
• Utilities: City water and private water company service; Private sewer
• Home design: Single-family residence; Fee simple ownership
• Construction: Stucco and wood frame construction; Tile roof; Building area per builder
• Exterior features: Block fencing; Desert front yard; Dirt in back yard; Tile roof

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Walk-in pantry; Kitchen island; Eat-in kitchen
• Bedrooms: Up to 4 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: ENERGY STAR qualified heating; ENERGY STAR qualified cooling
• Interior features: Granite counters; Double vanity; Eat-in kitchen; 9+ foot flat ceilings; Kitchen island; ENERGY STAR qualified windows
• Laundry & utility: Indoor laundry; Washer/dryer hookup only; ENERGY STAR noted in remarks

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $300k.

Deal economics

• At list price, monthly cash flow is $-720 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (42.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (32.2% below list).
• Recommended offer: $173k (42.4% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.7% in Maricopa — 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 72/100 on livability (#28 in AZ) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: amenities F, commute F, health & safety F.
• Maricopa Unified School District (4441) (town): math 20% / reading 29% proficiency, ranked #128 of 249 in AZ (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Santa Cruz Elementary School (math 27% / reading 34%, grade F, #536 of 1,109 statewide, top 49%, 764 students, 59% FRL); Desert Wind Middle School (math 14% / reading 26%, grade F, #127 of 218 statewide, top 60%, 817 students, 52% FRL); Desert Sunrise High School (615 students, 45% FRL).
• Market conditions: Rents rising (+1.8%/yr); 845 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,879 (42.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• GRM: 12.3

CMA / ARV

• ARV (median comp): $349,798
• List price: $299,990
• Delta: -14.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.89% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.18×
• Total profit: $-69,173
• Equity at exit: $74,034

10-year hold

• IRR: -14.0%
• Equity multiple: -0.22×
• Total profit: $-102,351
• Equity at exit: $79,131

Cash invested: $83,997 (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 85138

• Home prices YoY: -0.3%
• Rents YoY: 1.8%
• Active inventory: 845
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$117 /mo · $1,408/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$84
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-720

Break-even live

Break-even rent $2,944

Max offer price $172,879

Occupancy floor —

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: $74,998
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38165 W Excussare Way Maricopa, AZ	4.0	2.0	1572	$1,995	$1.27	5d	1	0.13mi
38060 W Frascati Ave Maricopa, AZ	4.0	2.0	1790	$1,995	$1.11	43d	1	0.17mi
17878 N Pietra Rd Maricopa, AZ	3.0	2.0	1555	$1,625	$1.05	43d	1	0.38mi
38128 W San Sisto Ave Maricopa, AZ	3.0	2.0	1593	$1,995	$1.25	43d	1	0.45mi
37392 W Capri Ave Maricopa, AZ	3.0	2.0	1764	$1,695	$0.96	16d	1	0.58mi
37392 W Capri Ave Maricopa, AZ	3.0	2.0	1764	$1,695	$0.96	15d	1	0.58mi
17936 N Lettere Cir Maricopa, AZ	4.0	2.5	2012	$1,800	$0.89	5d	1	0.61mi
38105 W Isabella Ln Maricopa, AZ	3.0	2.0	1795	$1,736	$0.97	5d	1	0.63mi
38248 W Santa Clara Ave Maricopa, AZ	3.0	2.0	1700	$2,150	$1.26	24d	1	0.71mi
37128 W Mondragone Ln Maricopa, AZ	3.0	2.0	1409	$1,450	$1.03	43d	1	0.72mi
37078 W Mondragone Ln Maricopa, AZ	3.0	2.0	1409	$1,600	$1.14	1d	1	0.75mi
37154 W Amalfi Ave Maricopa, AZ	4.0	2.5	2223	$1,695	$0.76	24d	1	0.79mi
37144 W Amalfi Ave Maricopa, AZ	4.0	2.0	1516	$1,669	$1.10	1d	1	0.80mi
37144 W Amalfi Ave Maricopa, AZ	4.0	2.0	1516	$1,839	$1.21	24d	1	0.80mi
36990 W Nola Way Maricopa, AZ	3.0	2.0	1769	$1,639	$0.93	10d	1	0.83mi
18735 N Ravello Rd Maricopa, AZ	5.0	3.0	1997	$2,450	$1.23	43d	1	0.83mi
37088 W Amalfi Ave Maricopa, AZ	4.0	2.0	1516	$1,735	$1.14	43d	1	0.83mi
36837 W Mediterranean Way Maricopa, AZ	3.0	2.0	1278	$1,695	$1.33	43d	1	0.90mi
36837 W Mediterranean Way Maricopa, AZ	3.0	2.0	1278	$1,595	$1.25	1d	1	0.90mi
36822 W Maddaloni Ave Maricopa, AZ	4.0	2.0	1825	$1,775	$0.97	1d	1	0.91mi
36610 W Mediterranean Way Maricopa, AZ	5.0	3.0	1953	$2,195	$1.12	1d	1	1.05mi
36605 W Mondragone Ln Maricopa, AZ	3.0	2.0	1170	$1,595	$1.36	10d	1	1.05mi
36355 W Mediterranean Way Maricopa, AZ	3.0	2.0	1411	$2,050	$1.45	1d	1	1.21mi
17589 N Del Mar Ave Maricopa, AZ	3.0	2.0	1177	$1,895	$1.61	44d	1	1.29mi
39696 W Lococo St Maricopa, AZ	3.0	2.0	1130	$1,604	$1.42	43d	1	1.29mi
40086 W Bonneau St Maricopa, AZ	4.0	2.0	1878	$1,729	$0.92	16d	1	1.30mi
40086 W Bonneau St Maricopa, AZ	3.0	2.0	1878	$1,699	$0.90	5d	1	1.30mi
36419 W San Ildefanso Ave Maricopa, AZ	4.0	2.0	1849	$1,795	$0.97	15d	1	1.31mi
39695 W Lococo St Maricopa, AZ	2.0–4.0	2.0	1133	$1,781	$1.57	1d	29	1.33mi
40250 W Green Ct Maricopa, AZ	3.0	2.0	1682	$2,395	$1.42	43d	1	1.40mi
18853 N Vemto St Maricopa, AZ	4.0	3.0	2233	$1,895	$0.85	24d	1	1.44mi
37014 W Prado St Maricopa, AZ	3.0	2.0	1568	$1,700	$1.08	16d	1	1.45mi
36085 W San Sisto Ave Maricopa, AZ	4.0	2.0	1605	$2,500	$1.56	1d	1	1.45mi
37043 W Vera Cruz Dr Maricopa, AZ	4.0	2.0	1832	$2,300	$1.26	1d	1	1.46mi
36972 W Prado St Maricopa, AZ	3.0	2.0	1568	$1,700	$1.08	16d	1	1.46mi
40404 W Molly Ln Maricopa, AZ	3.0	2.5	1803	$1,695	$0.94	43d	1	1.47mi

HOA detail

• Monthly dues: $84 · $1,008/yr

Listing history 20 events

1. 2026-06-18
   days on market $299,990 Active 40 DOM
2. 2026-06-17
   days on market $299,990 Active 39 DOM
3. 2026-06-16
   days on market $299,990 Active 38 DOM
4. 2026-06-15
   pricedays on market $299,990 Active 37 DOM
5. 2026-06-13
   pricedays on market $329,990 Active 35 DOM
6. 2026-06-13
   days on market $299,990 Active 34 DOM
7. 2026-06-09
   days on market $299,990 Active 31 DOM
8. 2026-06-08
   days on market $299,990 Active 30 DOM
9. 2026-06-07
   days on market $299,990 Active 29 DOM
10. 2026-06-04
    days on market $299,990 Active 26 DOM
11. 2026-06-03
    days on market $299,990 Active 25 DOM
12. 2026-06-02
    days on market $299,990 Active 24 DOM
13. 2026-06-01
    days on market $299,990 Active 23 DOM
14. 2026-05-31
    days on market $299,990 Active 22 DOM
15. 2026-05-12
    price $339,990 1094-char remark
16. 2026-05-09
    listed $299,990 Active 645-char remark
17. 2026-05-08
    price $340,815 1094-char remark
18. 2026-04-29
    price $339,990 1094-char remark
19. 2026-04-23
    price $343,990 1094-char remark
20. 2026-04-16
    listed $344,990 Active 1094-char remark

ⓘ 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: $1,408 · $117/mo
• Projected year-2 tax: $1,980 · $165/mo
• Expected delta: +$572/yr (+$48/mo · 40.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 9/10 Extreme 5 d/yr ≥114°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,402
• − Mortgage interest: −$16,804
• − Property taxes: −$1,408
• − Insurance: −$6,618
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − HOA: −$1,008
• − Depreciation: −$8,727
• Taxable loss: −$14,067
• Est. tax savings @ 24.0%: +$3,376
• After-tax cash flow: $-5,258/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: Maricopa Unified School District (4441)
• NCES district ID: 0404720
• Math proficiency: 20% ▼ -18.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $63,725
• Composite: 22.92/100
• National rank: #7993
• State rank: #128 of 249 in AZ

Livability — Maricopa

• Score: 72/100
• State rank: #28
• US rank: #5943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maricopa, AZ
• County: Pinal County · 399,947 people
• City population: 76,044
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 55,260
• Household income: $95,867
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 432.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 45% Hispanic / Latino 30% Two or more races 17% Black 13% Native American 3% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 26% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 16% Other Asian/Pacific 1% Other Indo-European 1%

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: ▼ -0.89%
• Current HPI: 258.1461
• Rent YoY: ▲ 1.78%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-06-13 Price Changed $299,990 ARMLS
• 2026-06-13 Relisted — ARMLS
• 2026-06-13 Pending — ARMLS
• 2026-06-13 Price Changed $329,990 ARMLS
• 2026-05-09 Listed $299,990 ARMLS

Property tax history

+385.9%/yr

Latest (2025): $1,408 · -1.5% YoY. Source: county tax records.