3611 N Kansas Ave · Florence, AZ 85132

$129,900

2 bd · 2.0 ba · 900 sqft · Manufactured · 138 Days on market

Built 1979 5,280 sqft lot $144/sqft · 21% below area Est $165k · 21% under $50/mo HOA · 3% of rent

---

Why this score? — see what drove the C+ 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).

• Cash flow +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.4/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 2 bedroom, 2 bath home that has an Arizona room, possibly as much as 300 sg ft of additional living space. (not added into the square footage) for nice area to entertain or hobby room. New wood laminate flooring in the living room,. New tile tub and shower in the primary bedroom. New carpeting in the Primary Bedroom. New Birchwood paneling in the primary bedroom. Both Bathrooms are fully remodel. Built in China hutch in living room. The Arizona Room has a new roof, as well as a large portion of the main house done in January 2026. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

Key facts

• Heated pools
• Low hoa fees
• Built in china hutch

Tags

• WOOD LAMINATE FLOORING
• TILE TUB AND SHOWER
• BIRCHWOOD PANELING
• BUILT IN CHINA HUTCH
• LOW HOA FEES
• HEATED POOLS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.2% 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.

Location & tenants

• 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: schools F, amenities F, commute 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.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $35k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $130k implies a 766% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 7.3

CMA / ARV

• ARV (median comp): $165,000
• List price: $129,900
• Delta: -21.27%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 E Cholla Ln	0.21mi	2/2.0	955 (+6%)	2mo	$155,000	$162	78
3717 N Illinois Ave	0.37mi	2/2.0	925 (+3%)	3mo	$119,900	$130	76
3701 N Ohio Ave	0.25mi	2/1.5	855 (-5%)	3mo	$155,000	$181	75
3614 N Ohio Ave	0.22mi	3/2.0 (+1)	961 (+7%)	2mo	$165,000	$172	71
3601 N Wisconsin Ave	0.30mi	2/1.0	897 (-0%)	14mo	$90,000	$100	70
704 E Yavapai Ct	0.47mi	2/2.0	897 (-0%)	18mo	$93,625	$104	63
810 E Mississippi St	0.47mi	3/2.0 (+1)	985 (+9%)	4mo	$199,000	$202	54
3811 N South Dakota Ave	0.38mi	2/2.0	981 (+9%)	19mo	$185,000	$189	51
412 E Fiesta Del Sol --	0.25mi	1/1.0 (-1)	836 (-7%)	22mo	$152,500	$182	49
3814 N Iowa Ave	0.35mi	2/2.5	1,024 (+14%)	14mo	$240,000	$234	47
3710 N Wisconsin Ave	0.29mi	3/2.0 (+1)	785 (-13%)	19mo	$178,000	$227	44

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-9,391
• Equity at exit: $19,369

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $203
• Equity at exit: $11,231

Cash invested: $36,372 (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 85132

• Home prices YoY: -5.2%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,481 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$50
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $222

Break-even live

Break-even rent $1,200

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $312	-5% $267	+0% $222	+5% $177	+10% $132
Rent	-10% $105	-5% $164	+0% $222	+5% $280	+10% $339
Rate	-1.0pp $287	-0.5pp $255	base $222	+0.5pp $188	+1.0pp $154

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3722 N South Dakota Ave Florence, AZ	1.0	1.0	721	$1,100	$1.53	44d	1	0.28mi
308 Lancaster Ct Unit 1 Florence, AZ	2.0	1.0	841	$1,295	$1.54	44d	1	0.60mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: pool

Listing history 21 events

1. 2026-06-18
   days on market $129,900 Active 138 DOM
2. 2026-06-17
   days on market $129,900 Active 137 DOM
3. 2026-06-16
   days on market $129,900 Active 136 DOM
4. 2026-06-15
   days on market $129,900 Active 135 DOM
5. 2026-06-13
   days on market $129,900 Active 133 DOM
6. 2026-06-13
   days on market $129,900 Active 132 DOM
7. 2026-06-09
   days on market $129,900 Active 129 DOM
8. 2026-06-08
   days on market $129,900 Active 128 DOM
9. 2026-06-07
   days on market $129,900 Active 127 DOM
10. 2026-06-04
    days on market $129,900 Active 124 DOM
11. 2026-06-03
    days on market $129,900 Active 123 DOM
12. 2026-06-02
    days on market $129,900 Active 122 DOM
13. 2026-06-01
    days on market $129,900 Active 121 DOM
14. 2026-05-31
    days on market $129,900 Active 120 DOM
15. 2026-04-09
    price $129,900 796-char remark

    Show marketing remark (796 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room, possibly as much as 300 sg ft of additional living space. (not added into the square footage) for nice area to entertain or hobby room. New wood laminate flooring in the living room,. New tile tub and shower in the primary bedroom. New carpeting in the Primary Bedroom. New Birchwood paneling in the primary bedroom. Both Bathrooms are fully remodel. Built in China hutch in living room. The Arizona Room has a new roof, as well as a large portion of the main house done in January 2026. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

16. 2026-03-20
    price $139,900 796-char remark

    Show marketing remark (796 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room, possibly as much as 300 sg ft of additional living space. (not added into the square footage) for nice area to entertain or hobby room. New wood laminate flooring in the living room,. New tile tub and shower in the primary bedroom. New carpeting in the Primary Bedroom. New Birchwood paneling in the primary bedroom. Both Bathrooms are fully remodel. Built in China hutch in living room. The Arizona Room has a new roof, as well as a large portion of the main house done in January 2026. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

17. 2026-02-19
    price $149,000 796-char remark

    Show marketing remark (796 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room, possibly as much as 300 sg ft of additional living space. (not added into the square footage) for nice area to entertain or hobby room. New wood laminate flooring in the living room,. New tile tub and shower in the primary bedroom. New carpeting in the Primary Bedroom. New Birchwood paneling in the primary bedroom. Both Bathrooms are fully remodel. Built in China hutch in living room. The Arizona Room has a new roof, as well as a large portion of the main house done in January 2026. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

18. 2026-01-31
    listed $164,900 Active 796-char remark

    Show marketing remark (796 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room, possibly as much as 300 sg ft of additional living space. (not added into the square footage) for nice area to entertain or hobby room. New wood laminate flooring in the living room,. New tile tub and shower in the primary bedroom. New carpeting in the Primary Bedroom. New Birchwood paneling in the primary bedroom. Both Bathrooms are fully remodel. Built in China hutch in living room. The Arizona Room has a new roof, as well as a large portion of the main house done in January 2026. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

19. 2018-01-15
    soldstatus $15,000 Closed 399-char remark

    Show marketing remark (399 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room (not added into the square footage) for nice area to entertain or hobby room. Built in china hutch. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

20. 2017-12-22
    status Pending 399-char remark

    Show marketing remark (399 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room (not added into the square footage) for nice area to entertain or hobby room. Built in china hutch. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

21. 2017-09-09
    listed $42,000 Active 399-char remark

    Show marketing remark (399 chars)

    This is a 2 bedroom, 2 bath home that has an Arizona room (not added into the square footage) for nice area to entertain or hobby room. Built in china hutch. This is a cute lot and a wonderful subdivision where you own the land, low HOA fees for lots of fun activities: golf, heated pools, spas, pickle ball courts, horseshoes, billiards hall, clubhouse with craft rooms, exercise area and Library.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 5 d/yr ≥112°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,768
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − HOA: −$600
• − Depreciation: −$3,779
• Taxable income: $672
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $2,503/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: Florence Unified School District (4437)
• NCES district ID: 0402920
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $54,426
• Composite: 18.31/100
• National rank: #8950
• State rank: #178 of 249 in AZ

Livability — Florence

• Score: 60/100
• State rank: #187
• US rank: #19483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AZ
• County: Pinal County · 399,947 people
• City population: 38,671
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 38,671
• Household income: $79,000
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 102.0

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 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 28% Two or more races 9% Black 7% Native American 3%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 5% Portuguese 2% Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 17% German/W. Germanic 1% Russian/Polish/Slavic 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: ▼ -12.75%
• Current HPI: 233.6644
• Rent YoY: ▲ 1.27%
• 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

+209.3% since first listed

7 events — show timeline

• 2026-04-09 Price Changed $129,900 ARMLS
• 2026-03-20 Price Changed $139,900 ARMLS
• 2026-02-19 Price Changed $149,000 ARMLS
• 2026-01-31 Listed $164,900 ARMLS
• 2018-01-15 Sold (MLS) $15,000 ARMLS
• 2017-12-22 Pending — ARMLS
• 2017-09-09 Listed $42,000 ARMLS

Property tax history

-1.5%/yr

Latest (2025): $103 · +2.3% YoY. Source: county tax records.