6960 W Peoria Ave #74

Peoria, AZ 85345

$27,000C-

2 bd · 2.0 ba · 1,056 sqft · Built 1980 · Manufactured · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,679/mo
• Mortgage (P&I): −$142
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $1,140/mo
• Annual: $13,680/yr
• Cap rate: 56.96%
• Cash-on-cash: 180.96%
• DSCR: 9.05
• 1% rule: 6.22%
• Cash to close: $7,560

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $27k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $27k).
• It's been on market 49 days — a 3% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $187 of loan paydown is wiped out by about $810 of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#14 in AZ, #3,603 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A, employment A; Watch: cost of living C-, amenities D, health & safety F.
• Peoria Unified School District (4237) (suburban): math 36% / reading 42% proficiency, ranked #64 of 249 in AZ (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 333 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 4y 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 57.0% vs local median 3.3% in Peoria — 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.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.