324 N King St · Florence, AZ 85132

$189,900

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 22 Days on market

Built 1983 5,501 sqft lot Est $275k · 31% under

---

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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.1/10.0
• 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

Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

Key facts

• Mini fridge
• Detached casita
• No hoa

Tags

• FULLY FENCED CORNER LOT
• DETACHED CASITA
• KITCHEN WITH ELECTRIC STOVE
• MINI FRIDGE
• WALL-UNIT COOLING SYSTEM
• NO HOA

Property features AI

Finance

• Other: Lot size approximately 5,501 (assessor)
• HOA & community: No association fees

Exterior

• Parking: 2 open parking spaces
• Utilities: City water; Public sewer
• Home design: Single family residence; Fee simple ownership
• Construction: Brick veneer, stucco, painted block construction; Composition roof
• Exterior features: Chain link fencing; East/West exposure; Corner lot; Gravel/stone front

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Concrete floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Floor furnace; Wall furnace; Central air; Ceiling fans; Window/wall AC unit
• Interior features: Eat-in kitchen; No interior steps; Full bath in primary bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: 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); 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y 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 $115k; list at $190k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $275,400
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
633 N Pinal St	0.37mi	2/2.0 (-1)	1,214 (-1%)	1mo	$230,000	$189	76
175 S Matilda St	0.37mi	3/2.0	1,080 (-12%)	1mo	$243,000	$225	62
155 S Matilda St	0.36mi	3/2.0	1,205 (-2%)	22mo	$279,900	$232	62
232 S Willow St	0.62mi	3/2.0	1,226 (+0%)	12mo	$228,000	$186	61
525 E 12th St	0.17mi	2/2.0 (-1)	1,040 (-15%)	3mo	$250,000	$240	60
324 W 11th St	0.62mi	3/2.0	1,205 (-2%)	13mo	$272,512	$226	58
645 S Desoto St	0.61mi	3/2.0	1,164 (-5%)	13mo	$240,000	$206	53
675 E Gressinger St	0.65mi	3/2.0	1,120 (-8%)	12mo	$239,000	$213	46
595 S Orlando St S	0.62mi	3/2.0	1,300 (+6%)	22mo	$310,000	$238	43
430 W Poston Cir	0.69mi	2/1.0 (-1)	1,057 (-14%)	3mo	$175,000	$166	34

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: -4.5%
• Equity multiple: 0.84×
• Total profit: $-8,741
• Equity at exit: $28,315

10-year hold

• IRR: 3.3%
• Equity multiple: 1.22×
• Total profit: $11,713
• Equity at exit: $16,419

Cash invested: $53,172 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,920 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $399

Break-even live

Break-even rent $1,415

Max offer price $189,900

Occupancy floor 74%

Sensitivity live

Price	-10% $506	-5% $453	+0% $399	+5% $345	+10% $291
Rent	-10% $247	-5% $323	+0% $399	+5% $475	+10% $551
Rate	-1.0pp $495	-0.5pp $447	base $399	+0.5pp $350	+1.0pp $300

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
144 S Mulberry St Florence, AZ	3.0	2.0	1415	$1,495	$1.06	44d	1	0.86mi
479 W Geib Ave Florence, AZ	3.0	2.0	1154	$1,595	$1.38	22d	1	0.88mi

Listing history 40 events

1. 2026-06-18
   days on market $189,900 Active 22 DOM
2. 2026-06-17
   price $189,900 Active 21 DOM
3. 2026-06-17
   days on market $194,500 Active 21 DOM
4. 2026-06-16
   days on market $194,500 Active 20 DOM
5. 2026-06-15
   days on market $194,500 Active 19 DOM
6. 2026-06-13
   days on market $194,500 Active 17 DOM
7. 2026-06-13
   days on market $194,500 Active 16 DOM
8. 2026-06-09
   days on market $194,500 Active 13 DOM
9. 2026-06-08
   days on market $194,500 Active 12 DOM
10. 2026-06-07
    days on market $194,500 Active 11 DOM
11. 2026-06-04
    days on market $194,500 Active 8 DOM
12. 2026-06-03
    days on market $194,500 Active 7 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    days on market $194,500 Active 6 DOM
15. 2026-06-01
    days on market $194,500 Active 5 DOM
16. 2026-05-31
    days on market $194,500 Active 4 DOM
17. 2026-05-27
    listed $194,500 Active
18. 2020-07-22
    soldstatus $115,000
19. 2015-05-19
    soldstatus $52,000 Closed 142-char remark

    Show marketing remark (142 chars)

    Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

20. 2015-05-19
    soldstatus $52,000

    Show marketing remark (142 chars)

    Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

21. 2015-05-05
    status Pending 142-char remark

    Show marketing remark (142 chars)

    Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

22. 2015-04-16
    status Active 142-char remark

    Show marketing remark (142 chars)

    Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

23. 2015-04-14
    status Pending 142-char remark

    Show marketing remark (142 chars)

    Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

24. 2015-04-06
    listed $55,000 Active 142-char remark

    Show marketing remark (142 chars)

    Excellent home with curb appeal. 2 bedrooms and an additional room detatched from main house. Shed and fenced lot. Show today- back on market.

25. 2015-02-13
    historical
26. 2015-01-28
    listed $59,500 Active
27. 2011-06-24
    soldstatus $20,000 Closed
28. 2011-05-06
    status Pending
29. 2011-04-21
    price $22,000
30. 2011-04-19
    price $25,000
31. 2011-03-08
    status Active
32. 2011-03-08
    historical
33. 2010-12-10
    price $26,700
34. 2010-12-10
    status Active
35. 2010-12-08
    historical
36. 2010-11-16
    price $28,100
37. 2010-10-20
    price $29,500
38. 2010-09-13
    listed $31,000 Active
39. 2002-01-04
    soldstatus $51,000
40. 1992-06-11
    soldstatus $38,000

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

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $518 · $43/mo
• Projected year-2 tax: $1,253 · $104/mo
• Expected delta: +$735/yr (+$61/mo · 141.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 18 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: $23,044
• − Mortgage interest: −$10,637
• − Property taxes: −$518
• − Insurance: −$950
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$5,524
• Taxable income: $1,728
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $4,372/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

+411.8% since first listed

24 events — show timeline

• 2026-05-27 Listed $194,500 ARMLS
• 2020-07-22 Sold (Public Records) $115,000 Public Records
• 2015-05-19 Sold (Public Records) $52,000 Public Records
• 2015-05-19 Sold (MLS) $52,000 ARMLS
• 2015-05-05 Pending — ARMLS
• 2015-04-16 Relisted — ARMLS
• 2015-04-14 Pending — ARMLS
• 2015-04-06 Listed $55,000 ARMLS
• 2015-02-13 Listing Removed — ARMLS
• 2015-01-28 Listed $59,500 ARMLS
• 2011-06-24 Sold (MLS) $20,000 ARMLS
• 2011-05-06 Pending — ARMLS
• 2011-04-21 Price Changed $22,000 ARMLS
• 2011-04-19 Price Changed $25,000 ARMLS
• 2011-03-08 Relisted — ARMLS
• 2011-03-08 Listing Removed — ARMLS
• 2010-12-10 Price Changed $26,700 ARMLS
• 2010-12-10 Relisted — ARMLS
• 2010-12-08 Listing Removed — ARMLS
• 2010-11-16 Price Changed $28,100 ARMLS
• 2010-10-20 Price Changed $29,500 ARMLS
• 2010-09-13 Listed $31,000 ARMLS
• 2002-01-04 Sold (Public Records) $51,000 Public Records
• 1992-06-11 Sold (Public Records) $38,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $518 · +2.8% YoY. Source: county tax records.