11466 E 36 Pl

Fortuna Foothills, AZ 85367

$220,000D-

2 bd · 2.0 ba · 1,200 sqft · Built 1991 · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,710/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $56/mo
• Annual: $673/yr
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• 1% rule: 0.78%
• Cash to close: $61,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $220k.
• At list price, monthly cash flow is $56 ($673/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (22.3% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $171k (22.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#174 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Yuma Union High School District (4507) (urban): math 14% / reading 16% proficiency, ranked #212 of 249 in AZ (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gila Ridge High School (math 13% / reading 17%, grade F, #263 of 381 statewide, top 70%, 2,309 students, 55% FRL).
• Market conditions: Rents rising fast (+4.5%/yr); 416 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,399 units permitted in Yuma County in 2024 (180 in 5+ unit buildings).
• Yuma County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 9y 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.
• Current owner paid $56k; list at $220k implies a 289% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 4.2% in Fortuna Foothills — 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 runs 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.