2185 E Hazeltine Way · Gilbert, AZ 85298

$499,000

3 bd · 2.0 ba · 1,569 sqft · SingleFamily public records · 86 Days on market

Built 2014 5,770 sqft lot $318/sqft · 5% below area Est $527k · 5% under $116/mo HOA · 4% of rent

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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).

• ARV discount +9.9/15.0
• Appreciation +9.2/10.0
• Cash flow +5.7/30.0
• Schools +4.8/10.0
• Livability +4.4/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Located in the highly desirable Adora Trails community, this 3-bedroom + den home offers a competitively priced opportunity with a functional layout, flexible living space, and room to make it your own. Inside, you'll find an open great room floor plan with vaulted ceilings and abundant natural light. The kitchen features granite countertops, stainless steel appliances, rich cabinetry, and a large island that anchors the main living space--ideal for both everyday living and entertaining. The split floor plan provides privacy for the primary suite, complete with dual sinks, soaking tub, and a spacious walk-in closet. The additional den offers flexibility for a home office, gym, or bonus space. perfect for a home office, workout space, or flex room depending on what you need right now. Out back is where this home really stands out. You've got room to create your own vision--whether that's a future pool, outdoor entertaining space, or simply enjoying the peaceful setting. And the mountain views? That's the kind of backdrop you don't get tired of. Plus, the RV gate adds flexibility that's becoming harder to find, especially in a community like this. Living in Adora Trails means access to a clubhouse, community pool, parks, and walking paths--all while being surrounded by scenic desert and mountain views that make you feel a little removed from the everyday hustle, but still close to everything you need. This isn't just a home--it's one that gives you options, space to grow, and a setting that feels like Arizona living at its best.

Key facts

• 5,770 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $499k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $320k (35.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (47.3% below list).
• Recommended offer: $263k (47.3% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 3.2% in Gilbert — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 87/100 on livability (#1 in AZ, #240 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, housing A+; Watch: health & safety C-, cost of living F.
• Chandler Unified District #80 (4242) (suburban): math 49% / reading 57% proficiency, ranked #31 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Charlotte Patterson Elementary (math 60% / reading 71%, grade B+, #92 of 1,109 statewide, top 9%, 851 students, 8% FRL); Willie & Coy Payne Jr. High (math 47% / reading 53%, grade C, #26 of 218 statewide, top 12%, 1,143 students, 11% FRL); Arizona College Prep High School (math 91% / reading 83%, grade A, #2 of 381 statewide, top 0%, 1,775 students, 7% FRL) — zoned schools average 9% FRL vs 25% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 53% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Chandler Unified District #80 (4242) average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.3%/yr); 340 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (8.4% local appreciation)).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($469k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $252k; list at $499k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,202 (47.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.53% ✗
• Cap rate: 3.86%
• Cash-on-cash: -8.69%
• DSCR: 0.61
• GRM: 15.8

CMA / ARV

• ARV (median comp): $527,304
• List price: $499,000
• Delta: -5.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2315 E Hazeltine Way	0.16mi	4/2.0 (+1)	1,734 (+10%)	3mo	$507,500	$293	67
2009 E Lindrick Dr	0.26mi	3/2.0	1,734 (+10%)	10mo	$517,500	$298	62
2177 E Gillcrest Rd	0.37mi	4/2.0 (+1)	1,731 (+10%)	0mo	$505,000	$292	60
2169 E Hazeltine Way	0.02mi	4/2.0 (+1)	1,734 (+10%)	20mo	$530,000	$306	60
2445 E Flintlock Dr	0.41mi	3/2.0	1,759 (+12%)	2mo	$550,000	$313	59
2108 E Lindrick Dr	0.19mi	4/2.0 (+1)	1,734 (+10%)	14mo	$550,000	$317	57
7764 S Abbey Ln	0.33mi	4/2.0 (+1)	1,759 (+12%)	10mo	$570,000	$324	51
2663 E Hickory St	0.72mi	3/2.0	1,572 (+0%)	21mo	$530,000	$337	49
7761 S Abbey Ln	0.36mi	3/2.0	1,759 (+12%)	19mo	$505,000	$287	47
2218 E Gillcrest Rd	0.42mi	4/2.0 (+1)	1,731 (+10%)	15mo	$525,000	$303	46
7665 S Stuart Ave	0.75mi	3/2.0	1,759 (+12%)	6mo	$510,000	$290	40
2327 E Runaway Bay Pl	0.72mi	3/2.0	1,759 (+12%)	17mo	$545,000	$310	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.36% appreciation · 4.31% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 2.12×
• Total profit: $156,073
• Equity at exit: $391,490

10-year hold

• IRR: 14.7%
• Equity multiple: 4.64×
• Total profit: $508,746
• Equity at exit: $789,225

Cash invested: $139,720 (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 85298

• Home prices YoY: 2.5%
• Rents YoY: 4.3%
• Active inventory: 340
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,632 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$151 /mo · $1,809/yr
• Insurance: −$208
• HOA: −$116
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-1,012

Break-even live

Break-even rent $3,913

Max offer price $320,198

Occupancy floor —

Sensitivity live

Price	-10% $-730	-5% $-871	+0% $-1,012	+5% $-1,153	+10% $-1,295
Rent	-10% $-1,220	-5% $-1,116	+0% $-1,012	+5% $-908	+10% $-804
Rate	-1.0pp $-761	-0.5pp $-885	base $-1,012	+0.5pp $-1,141	+1.0pp $-1,273

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2223 E Hazeltine Way Gilbert, AZ	3.0	2.0	1734	$2,399	$1.38	0d	1	0.03mi
2227 E Stacey Rd Gilbert, AZ	3.0	2.0	1569	$2,499	$1.59	20d	1	0.07mi
6718 S Garnet Way Chandler, AZ	3.0	2.0	1792	$2,100	$1.17	26d	1	0.87mi
2723 E Mews Rd Gilbert, AZ	3.0	2.0	1759	$2,495	$1.42	20d	1	0.98mi
2723 E Mews Rd Gilbert, AZ	3.0	2.0	1759	$2,395	$1.36	4d	1	0.98mi
1673 E Lafayette Ave Gilbert, AZ	3.0	2.0	1776	$2,500	$1.41	45d	1	1.33mi
4588 E Indian Wells Dr Chandler, AZ	4.0	2.0	2134	$2,495	$1.17	5d	1	1.34mi
4424 E Peach Tree Dr Chandler, AZ	4.0	2.0	2082	$2,550	$1.22	45d	1	1.39mi
4649 E Augusta Ave Chandler, AZ	3.0	2.0	2192	$2,350	$1.07	25d	1	1.47mi
4649 E Augusta Ave Chandler, AZ	3.0	2.0	2192	$2,350	$1.07	7d	1	1.47mi

HOA detail

• Monthly dues: $116 · $1,392/yr
• Likely covers: poolgym

Listing history 25 events

1. 2026-06-21
   days on market $499,000 Active 86 DOM
2. 2026-06-18
   days on market $499,000 Active 83 DOM
3. 2026-06-17
   days on market $499,000 Active 82 DOM
4. 2026-06-16
   days on market $499,000 Active 81 DOM
5. 2026-06-15
   days on market $499,000 Active 80 DOM
6. 2026-06-13
   days on market $499,000 Active 78 DOM
7. 2026-06-13
   days on market $499,000 Active 77 DOM
8. 2026-06-09
   days on market $499,000 Active 74 DOM
9. 2026-06-08
   days on market $499,000 Active 73 DOM
10. 2026-06-07
    days on market $499,000 Active 72 DOM
11. 2026-06-04
    days on market $499,000 Active 69 DOM
12. 2026-06-03
    days on market $499,000 Active 68 DOM
13. 2026-06-02
    days on market $499,000 Active 67 DOM
14. 2026-06-01
    days on market $499,000 Active 66 DOM
15. 2026-05-31
    days on market $499,000 Active 65 DOM
16. 2026-03-27
    listed $499,000 Active 1558-char remark

    Show marketing remark (1558 chars)

    Located in the highly desirable Adora Trails community, this 3-bedroom + den home offers a competitively priced opportunity with a functional layout, flexible living space, and room to make it your own. Inside, you'll find an open great room floor plan with vaulted ceilings and abundant natural light. The kitchen features granite countertops, stainless steel appliances, rich cabinetry, and a large island that anchors the main living space--ideal for both everyday living and entertaining. The split floor plan provides privacy for the primary suite, complete with dual sinks, soaking tub, and a spacious walk-in closet. The additional den offers flexibility for a home office, gym, or bonus space. perfect for a home office, workout space, or flex room depending on what you need right now. Out back is where this home really stands out. You've got room to create your own vision--whether that's a future pool, outdoor entertaining space, or simply enjoying the peaceful setting. And the mountain views? That's the kind of backdrop you don't get tired of. Plus, the RV gate adds flexibility that's becoming harder to find, especially in a community like this. Living in Adora Trails means access to a clubhouse, community pool, parks, and walking paths--all while being surrounded by scenic desert and mountain views that make you feel a little removed from the everyday hustle, but still close to everything you need. This isn't just a home--it's one that gives you options, space to grow, and a setting that feels like Arizona living at its best.

17. 2025-04-29
    historical
18. 2025-04-01
    price $524,990
19. 2025-03-08
    price $529,890
20. 2025-01-27
    price $529,990
21. 2025-01-24
    price $534,890
22. 2025-01-08
    listed $534,990 Active
23. 2014-11-28
    soldstatus $252,456 Closed
24. 2014-10-21
    status Pending
25. 2014-08-19
    listed $253,631 Active

ⓘ 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: $1,809 · $151/mo
• Projected year-2 tax: $3,293 · $274/mo
• Expected delta: +$1,485/yr (+$124/mo · 82.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 20 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: $31,584
• − Mortgage interest: −$27,952
• − Property taxes: −$1,809
• − Insurance: −$2,495
• − Repairs & maintenance: −$2,527
• − Management: −$2,527
• − HOA: −$1,392
• − Depreciation: −$14,516
• Taxable loss: −$21,633
• Est. tax savings @ 24.0%: +$5,192
• After-tax cash flow: $-6,954/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: Chandler Unified District #80 (4242)
• NCES district ID: 0401870
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $74,048
• Composite: 47.54/100
• National rank: #2268
• State rank: #31 of 249 in AZ

Livability — Gilbert

• Score: 87/100
• State rank: #1
• US rank: #240

Category grades

Amenities A+ Commute A Cost of living F Crime A Employment A+ Housing A+ Health & safety C- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbert, AZ
• County: Maricopa County · 4,537,380 people
• City population: 281,769
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 44,114
• Household income: $156,425
• Rent vs Own: 8.9% rent · 91.1% own
• Severe rent burden: 173.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 11% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.36%
• Current HPI: 343.6932
• Rent YoY: ▲ 4.31%
• 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

+96.7% since first listed

10 events — show timeline

• 2026-03-27 Listed $499,000 ARMLS
• 2025-04-29 Listing Removed — ARMLS
• 2025-04-01 Price Changed $524,990 ARMLS
• 2025-03-08 Price Changed $529,890 ARMLS
• 2025-01-27 Price Changed $529,990 ARMLS
• 2025-01-24 Price Changed $534,890 ARMLS
• 2025-01-08 Listed $534,990 ARMLS
• 2014-11-28 Sold (MLS) $252,456 ARMLS
• 2014-10-21 Pending — ARMLS
• 2014-08-19 Listed $253,631 ARMLS

Property tax history

+11.4%/yr

Latest (2025): $1,809 · +1.2% YoY. Source: county tax records.