635 E Pearl St · Benson, AZ 85602

$11,500

1 bd · 1.0 ba · 400 sqft · MultiFamily · 62 Days on market

Built 1984 1.00 ac lot $29/sqft · 87% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Beautiful house in East Pearl Street

Key facts

• 1 acre lot
• Garage
• Built 1984

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $12k.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $11k (6.0% below list) — sets the bar for market timing.
• Cap rate 87.2% 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.
• Market conditions: 263 active listings in the ZIP; 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 $80 of loan paydown is wiped out by about $345 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago 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

• 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 $10,810 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 9.41% ✓
• Cap rate: 87.21%
• Cash-on-cash: 288.98%
• DSCR: 13.86
• GRM: 0.9

CMA / ARV

• ARV (median comp): $87,500
• List price: $11,500
• Delta: -86.86%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 15.76×
• Total profit: $47,541
• Equity at exit: $1,715

10-year hold

• IRR: —
• Equity multiple: 33.63×
• Total profit: $105,058
• Equity at exit: $994

Cash invested: $3,220 (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: 0.9×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$60
• Tax est. 1.5%: −$14 /mo · $172/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $775

Break-even live

Break-even rent $101

Max offer price $11,500

Occupancy floor 23%

Sensitivity live

Price	-10% $783	-5% $779	+0% $775	+5% $771	+10% $767
Rent	-10% $690	-5% $733	+0% $775	+5% $818	+10% $861
Rate	-1.0pp $781	-0.5pp $778	base $775	+0.5pp $772	+1.0pp $769

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: $2,875
• Closing costs: $345
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $11,500 Active 62 DOM
2. 2026-06-17
   days on market $11,500 Active 61 DOM
3. 2026-06-16
   days on market $11,500 Active 60 DOM
4. 2026-06-15
   days on market $11,500 Active 59 DOM
5. 2026-06-13
   days on market $11,500 Active 57 DOM
6. 2026-06-13
   days on market $11,500 Active 56 DOM
7. 2026-06-10
   days on market $11,500 Active 54 DOM
8. 2026-06-09
   days on market $11,500 Active 53 DOM
9. 2026-06-08
   days on market $11,500 Active 52 DOM
10. 2026-06-07
    days on market $11,500 Active 51 DOM
11. 2026-06-05
    days on market $11,500 Active 48 DOM
12. 2026-06-03
    days on market $11,500 Active 47 DOM
13. 2026-06-02
    days on market $11,500 Active 46 DOM
14. 2026-06-01
    days on market $11,500 Active 45 DOM
15. 2026-05-31
    days on market $11,500 Active 44 DOM
16. 2026-04-17
    listed $11,500 Active 36-char remark

    Show marketing remark (36 chars)

    Beautiful house in East Pearl Street

17. 2008-10-20
    soldstatus $900,000 444-char remark

    Show marketing remark (444 chars)

    Pato Blanco Lakes RV Resort is located in the center of Benson, Arizona, near an abundance of outdoor recreation. This Woodall's 4-Star Rated property is situated on 26 acres and is comprised of 105 full hookup RV sites with 7 park models included in the sale. Avg. site size is 60'x40'. Onsite improvements include a modern office, BBQ deck, banquet hall, clubhouse, kitchen, laundry, pool house, shower, restroom and exercise room facilities.

18. 2008-04-09
    listed $1,250,000 444-char remark

    Show marketing remark (444 chars)

    Pato Blanco Lakes RV Resort is located in the center of Benson, Arizona, near an abundance of outdoor recreation. This Woodall's 4-Star Rated property is situated on 26 acres and is comprised of 105 full hookup RV sites with 7 park models included in the sale. Avg. site size is 60'x40'. Onsite improvements include a modern office, BBQ deck, banquet hall, clubhouse, kitchen, laundry, pool house, shower, restroom and exercise room facilities.

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 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: $12,986
• − Mortgage interest: −$644
• − Property taxes: −$172
• − Insurance: −$58
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$335
• Taxable income: $9,699
• Est. tax owed @ 24.0%: −$2,328
• After-tax cash flow: $6,977/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

-99.1% since first listed

3 events — show timeline

• 2026-04-17 Listed $11,500 MLSSAZ
• 2008-10-20 Sold (MLS) $900,000 MLSSAZ
• 2008-04-09 Listed $1,250,000 MLSSAZ