214 E Cholla Ln

Florence, AZ 85132

$65,000B+

1 bd · 1.0 ba · 410 sqft · Built 1988 · Manufactured · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,148/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$47
• HOA: −$70
• Vac / Maint / Mgmt: −$241
• Net cashflow: $449/mo
• Annual: $5,393/yr
• Cap rate: 14.59%
• Cash-on-cash: 29.63%
• DSCR: 2.32
• 1% rule: 1.77%
• Cash to close: $18,200

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 106 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#187 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Florence Unified School District (4437) (rural): math 16% / reading 24% proficiency, ranked #178 of 249 in AZ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Florence K-8 (math 17% / reading 23%, grade F, #742 of 1,109 statewide, top 67%, 771 students, 56% FRL); Florence High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 796 students, 44% FRL).
• Market conditions: Rents rising (+1.3%/yr); 736 active listings in the ZIP; solid renter incomes; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• Current owner paid $28k; list at $65k implies a 136% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 3→7/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.6% vs local median 4.1% in Florence — 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 is only 17% of the median local income ($79k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
• 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.