17550 S Munds Ranch Rd #343

Munds Park, AZ 86017

$105,900D+

2 bd · 1.0 ba · 476 sqft · Built 2007 · Manufactured · Active · 79 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,117/mo
• Mortgage (P&I): −$555
• Tax + insurance: −$243
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $84/mo
• Annual: $1,013/yr
• Cap rate: 8.00%
• Cash-on-cash: 6.11%
• DSCR: 1.27
• 1% rule: 1.06%
• Cash to close: $29,652

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $106k. Condition is rated good.
• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• It's been on market 79 days — a 6% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $732 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#99 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A, housing A, employment A-; Watch: cost of living C-, amenities F, commute F.
• Flagstaff Unified District (4192) (urban): math 18% / reading 29% proficiency, ranked #158 of 249 in AZ (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Weitzel'S Puente De Hozho Bilingual Magnet School (math 27% / reading 37%, grade F, #505 of 1,109 statewide, top 47%, 438 students, 42% FRL); Mount Elden Middle School (math 16% / reading 23%, grade F, #134 of 218 statewide, top 63%, 757 students, 51% FRL); Flagstaff High School (math 22% / reading 27%, grade F, #154 of 381 statewide, top 53%, 1,620 students, 25% FRL) — zoned schools at 39% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 109 active listings in the ZIP; 698 units permitted in Coconino County in 2024 (354 in 5+ unit buildings).
• Coconino County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.0% vs local median 1.5% in Munds Park — 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 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.