Is 1110 N Henness Rd Unit 2101-02101 in Casa Grande, AZ a good investment?

CashFlowRE grades it D with a 5.4% cap rate and $-122/mo modeled cash flow at a $159,995 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 1110 N Henness Rd Unit 2101-02101?

The modeled cap rate is 5.4% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,246/month, from CashFlowRE's rent model.

D Composite 40.43

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 +15.0/15.0
Cash flow +9.1/30.0
Condition / age +4.0/5.0
Rent growth +3.7/5.0
Livability +2.9/5.0
1% rule +2.8/10.0
DSCR +2.5/10.0
Appreciation +2.5/10.0
Schools +1.4/10.0
Manufactured-home adj. -3.5

$159,995

1110 N Henness Rd Unit 2101-02101 · Casa Grande, AZ 85122

2 bd · 2.0 ba · 1,188 sqft · Manufactured · 82 Days on market

Manufactured home Built 2026 Good condition $135/sqft · 31% below area Est $233k · 31% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to this beautiful new 2 bedroom, 2 bath home located at 2101 Slippery Ridge Drive. This spacious home features a desirable island kitchen complete with stainless steel appliances and offering plenty of counter space for cooking, entertaining and everyday living. The thoughtfully designed floor plan includes a dedicated laundry room for added convenience and a generous primary suite featuring a walk-in closet and a private ensuite bathroom with a step-shower. Guests will appreciate the comfortable second bedroom and full bath, perfect for visitors or a home office set up.

Key facts

Island kitchen
Walk-in closet
Step-shower

What this means for you Summary

Snapshot

This is a 2-bed/2.0-bath manufactured listed at $160k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
To cash-flow at today's rent, offer at most $142k (11.0% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (22.1% below list).
Recommended offer: $125k (22.1% below list) — sets the bar for 1% rule.
Cap rate 5.4% vs local median 3.9% in Casa Grande — 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 58/100 on livability (#220 in AZ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities F.
Casa Grande Union High School District (4453) (suburban): math 14% / reading 21% proficiency, ranked #193 of 249 in AZ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
Zoned schools: Mesquite Elementary School (math 12% / reading 17%, grade F, #898 of 1,109 statewide, top 83%, 467 students, 85% FRL); Cactus Middle School (math 11% / reading 19%, grade F, #156 of 218 statewide, top 72%, 779 students, 63% FRL); Vista Grande High School (math 10% / reading 16%, grade F, #279 of 381 statewide, top 73%, 1,790 students, 54% FRL).
Market conditions: Rents rising fast (+4.6%/yr); 1052 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $5k of value loss. Plan a longer hold.

Negotiation context

It's been on market 82 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Recommended offer $124,557 (22.1% below list)

Questions for the listing agent

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?
It's been on market 82 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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.
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 D 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.

Investment metrics

1% rule: 0.78% ✗
Cap rate: 5.38%
Cash-on-cash: -3.26%
DSCR: 0.85
GRM: 10.7

CMA / ARV

ARV (median comp): $232,600
List price: $159,995
Delta: -31.21%
Verdict: UNDERPRICED
Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1110 N Henness Rd #2126	0.33mi	2/2.0	1,202 (+1%)	0mo	$250,000	$208	82
1873 E Birch St	0.24mi	2/2.0	1,237 (+4%)	3mo	$227,000	$184	79
1547 E 12th St	0.96mi	2/2.0	1,218 (+2%)	2mo	$266,900	$219	60
1647 E Krystal St	0.81mi	3/2.0 (+1)	1,198 (+1%)	3mo	$281,000	$235	56
1718 E Birch St	0.55mi	2/2.0	1,013 (-15%)	5mo	$248,000	$245	45
2415 E Antigua Dr	1.42mi	2/2.0	1,322 (+11%)	2mo	$247,000	$187	45
67 N Montoro Ln	1.37mi	2/2.0	1,338 (+13%)	3mo	$255,500	$191	41
77 N Montoro Ln	1.36mi	2/2.0	1,461 (+23%)	1mo	$285,000	$195	39
1313 E 10th Pl	1.47mi	2/2.0	962 (-19%)	3mo	$201,500	$209	38
1533 E Laurel Dr	1.04mi	2/2.0	1,458 (+23%)	4mo	$205,832	$141	36
2432 E Santiago Trl	1.33mi	2/2.0	1,453 (+22%)	5mo	$314,000	$216	36
97 N Montoro Ln	1.35mi	2/2.0	1,433 (+21%)	5mo	$275,000	$192	36

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 · 4.6% rent growth · sell at horizon

5-year hold

IRR: -20.0%
Equity multiple: 0.29×
Total profit: $-31,621
Equity at exit: $23,856

10-year hold

IRR: -9.8%
Equity multiple: 0.36×
Total profit: $-28,802
Equity at exit: $13,833

Cash invested: $44,799 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 33 active · 1 under contract
Months of supply: 198.0 mo (1%/mo absorbed)
Median asking: $159,995 ($137/sqft)
Median days on market: 164 d
This list price: 48% of active listings are priced below it
ARV vs active asking: +42.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 85122

Home prices YoY: -22.4%
Rents YoY: 4.6%
Active inventory: 1052
Price-to-rent: 10.7×

Monthly cashflow live

Estimated rent: $1,246 high interval (Pro) →
Mortgage (P&I): −$839
Tax est. 1.5%: −$200 /mo · $2,400/yr
Insurance: −$67
HOA: −$0
Lot rent leased land?: −$0
Vacancy / Maint / Mgmt: −$262
Net cashflow: $-122

Break-even live

Break-even rent $1,400

Max offer price $142,386

Occupancy floor —

Sensitivity live

Price	-10% $-11	-5% $-66	+0% $-122	+5% $-177	+10% $-232
Rent	-10% $-220	-5% $-171	+0% $-122	+5% $-72	+10% $-23
Rate	-1.0pp $-41	-0.5pp $-81	base $-122	+0.5pp $-163	+1.0pp $-205

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: $39,999
Closing costs: $4,800
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1771 E McMurray Blvd Casa Grande, AZ	1.0–2.0	1.0	733	$1,395	$1.90	0d	1	0.35mi
422 N Via Del Cielo Rd Casa Grande, AZ	1.0–3.0	1.0–2.5	1090	$1,945	$1.78	0d	29	0.37mi
1767 E Sycamore Rd Casa Grande, AZ	3.0	2.0	1306	$1,600	$1.23	0d	1	0.37mi
1762 E Sycamore Rd Casa Grande, AZ	3.0	2.0	1273	$3,500	$2.75	0d	1	0.40mi
1821 E Florence Blvd Casa Grande, AZ	1.0–3.0	1.0–2.0	1091	$1,684	$1.54	0d	1	0.46mi
1000 N Arizola Rd Casa Grande, AZ	2.0	1.0–2.0	621	$1,290	$2.08	37d	22	0.46mi
1727 E Birch St Casa Grande, AZ	3.0	2.0	1196	$1,595	$1.33	32d	1	0.50mi
1110 Henness Rd Casa Grande, AZ	2.0	2.0	1166	$1,649	$1.41	7d	1	0.53mi
1682 E Kielly Ln Casa Grande, AZ	3.0	2.0	1494	$2,400	$1.61	99d	1	0.62mi
255 N Camino Mercado Casa Grande, AZ	1.0–3.0	1.0–2.0	1041	$1,574	$1.51	0d	47	0.86mi
1565 N Wildflower Dr Casa Grande, AZ	1.0–3.0	1.0–2.0	998	$1,335	$1.34	0d	6	0.99mi
1456 E 9th St #118 Casa Grande, AZ	2.0	2.0	1495	$1,325	$0.89	79d	1	1.12mi
22 S Boniface Ln Casa Grande, AZ	3.0–4.0	2.0	1404	$1,745	$1.24	0d	1	1.14mi
1456 E 9th St Casa Grande, AZ	2.0–3.0	2.0	1703	$1,299	$0.76	0d	2	1.17mi
351 N Peart Rd Casa Grande, AZ	1.0–3.0	1.0–2.0	962	$1,458	$1.52	0d	7	1.20mi
1566 E Fletcher Dr Casa Grande, AZ	3.0	2.0	1441	$1,875	$1.30	161d	1	1.27mi
1575 E Fletcher Dr Casa Grande, AZ	3.0	2.0	1432	$1,795	$1.25	109d	1	1.27mi
344 N Pottebaum Ave Casa Grande, AZ	2.0–3.0	2.0	1162	$1,115	$0.96	0d	5	1.28mi
1389 E Anna Dr Casa Grande, AZ	3.0	2.0	1248	$1,575	$1.26	0d	1	1.35mi
1715 N Peart Rd Casa Grande, AZ	2.0–4.0	1.0–2.0	1221	$1,349	$1.10	0d	23	1.38mi
1450 E Cottonwood Ln Casa Grande, AZ	1.0–2.0	1.0–2.0	821	$1,695	$2.06	0d	57	1.46mi

Property features AI

Finance

Financial info: List price $174,995

Exterior

Home design: Spec-built propertyAddress: 1110 N Henness Rd Unit 2101-02101, Casa Grande, AZ 85122
Exterior features: Living area approximately 1188

Interior

Bedrooms: 2 bedrooms
Interior features: 2 total bathrooms

Listing history 50 events

2026-08-18

days on market $159,995 Active 82 DOM
2026-08-17

days on market $159,995 Active 81 DOM
2026-08-16

days on market $159,995 Active 80 DOM
2026-08-15

days on market $159,995 Active 79 DOM
2026-08-14

days on market $159,995 Active 78 DOM
2026-08-13

days on market $159,995 Active 77 DOM
2026-08-12

days on market $159,995 Active 76 DOM
2026-08-11

days on market $159,995 Active 75 DOM
2026-08-10

days on market $159,995 Active 74 DOM
2026-08-09

days on market $159,995 Active 73 DOM
2026-08-08

days on market $159,995 Active 72 DOM
2026-08-06

days on market $159,995 Active 70 DOM
2026-08-05

days on market $159,995 Active 69 DOM
2026-08-04

days on market $159,995 Active 68 DOM
2026-08-03

days on market $159,995 Active 67 DOM
2026-07-31

days on market $159,995 Active 64 DOM
2026-07-30

days on market $159,995 Active 63 DOM
2026-07-30

days on market $159,995 Active 62 DOM
2026-07-28

days on market $159,995 Active 61 DOM
2026-07-26

days on market $159,995 Active 59 DOM
2026-07-24

days on market $159,995 Active 57 DOM
2026-07-23

days on market $159,995 Active 56 DOM
2026-07-22

days on market $159,995 Active 55 DOM
2026-07-21

days on market $159,995 Active 54 DOM
2026-07-20

days on market $159,995 Active 53 DOM
2026-07-18

days on market $159,995 Active 51 DOM
2026-07-18

days on market $159,995 Active 50 DOM
2026-07-16

days on market $159,995 Active 49 DOM
2026-07-15

days on market $159,995 Active 48 DOM
2026-07-14

days on market $159,995 Active 47 DOM
2026-07-13

days on market $159,995 Active 46 DOM
2026-07-13

days on market $159,995 Active 45 DOM
2026-07-11

days on market $159,995 Active 44 DOM
2026-07-10

days on market $159,995 Active 43 DOM
2026-07-09

days on market $159,995 Active 42 DOM
2026-07-07

days on market $159,995 Active 40 DOM
2026-07-06

days on market $159,995 Active 39 DOM
2026-07-06

days on market $159,995 Active 38 DOM
2026-07-05

days on market $159,995 Active 37 DOM
2026-07-03

days on market $159,995 Active 36 DOM
2026-07-02

days on market $159,995 Active 35 DOM
2026-07-01

days on market $159,995 Active 34 DOM
2026-06-30

days on market $159,995 Active 33 DOM
2026-06-29

days on market $159,995 Active 32 DOM
2026-06-28

days on market $159,995 Active 31 DOM
2026-06-27

days on market $159,995 Active 30 DOM
2026-06-26

days on market $159,995 Active 29 DOM
2026-06-24

days on market $159,995 Active 27 DOM
2026-06-22

days on market $159,995 Active 25 DOM
2026-06-21

days on market $159,995 Active 24 DOM

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $14,947
− Mortgage interest: −$8,962
− Property taxes: −$2,400
− Insurance: −$800
− Repairs & maintenance: −$1,196
− Management: −$1,196
− Depreciation: −$4,654
Taxable loss: −$4,261

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,023
After-tax cash flow: $-438/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.

Condition & rehab AI · 8 photos

Good 80/100 Cosmetic rehab Est. rehab $5,940–$17,820 screening

This beautiful new 2-bedroom, 2-bath home is move-in ready with modern finishes and a spacious layout. It offers a good condition score and is ready for minor cosmetic improvements to maximize its value.

Value-add opportunities

Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
Both Landscaping and curb appeal improvements — Enhances overall property value and appeal ↑
Both Add smart home features — Improves convenience and marketability ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 14/100

Zoned Schools

Elementary Mesquite Elementary School F AZ #898/1,109 Nat'l #36,758/41,679 Middle Cactus Middle School F AZ #156/218 Nat'l #12,634/14,009 High Vista Grande High School F AZ #279/381 Nat'l #15,688/17,239

Schools (NCES district)

District: Casa Grande Union High School District (4453)
NCES district ID: 0401740
Math proficiency: 14% ▼ -15.00%
Reading proficiency: 21% ▼ -10.00%
Median HH income: $45,373
Composite: 15.38/100
National rank: #9319
State rank: #193 of 249 in AZ

D Composite livability gradescore 58/100

Livability — Casa Grande

Score: 58/100
State rank: #220
US rank: #21534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Casa Grande, AZ
County: Pinal County · 437,574 people
City population: 69,701
Metro: Phoenix-Mesa-Chandler, AZ
Population (ZIP): 61,624
Household income: $68,443
Rent vs Own: 28.6% rent · 71.4% own
Severe rent burden: 15% of renters

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 0.63)
Race & ethnicity: Hispanic / Latino 44% White 42% Two or more races 21% Black 4% Native American 4% Asian 1%
Hispanic origin (detail): Mexican 40%
Languages at home: 75% English-only · Spanish 23% Tagalog/Filipino 1% Other Indo-European 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: ▼ -67.32%
Current HPI: 233.148
Rent YoY: ▲ 4.60%
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
#417 ON Semiconductor Scottsdale $7.1B #467 Resideo Technologies Scottsdale $6.1B
Mining / Metals	1	$23B
#174 Freeport-McMoRan Phoenix $23.4B
Environmental Services	1	$16B
#209 Republic Services Phoenix $15.9B
Metals / Steel	1	$14B
#471 Reliance Steel & Aluminum Scottsdale $14.0B
Technology Distribution	1	$9B
#363 Insight Enterprises Chandler $9.4B
Homebuilding	1	$8B
#424 Taylor Morrison Scottsdale $7.7B

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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