41602 W Caliente Dr

Maricopa, AZ 85138

$240,000D-

2 bd · 2.0 ba · 1,324 sqft · Built 2016 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,824/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$281
• HOA: −$466
• Vac / Maint / Mgmt: −$383
• Net cashflow: $-564/mo
• Annual: $-6,767/yr
• Cap rate: 3.47%
• Cash-on-cash: -10.07%
• DSCR: 0.55
• 1% rule: 0.76%
• Cash to close: $67,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-564 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (41.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (24.0% below list).
• It's been on market 93 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (41.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-0.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: Butterfield Elementary School (math 33% / reading 41%, grade F, #438 of 1,109 statewide, top 41%, 774 students, 52% FRL); Desert Wind Middle School (math 14% / reading 26%, grade F, #127 of 218 statewide, top 60%, 817 students, 52% FRL).
• Watch-outs: HOA is 26% of rent.
• Market conditions: Rents rising (+1.8%/yr); 862 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 93 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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.