66725 64th Pl

Salome, AZ 85348

$150,000D-

3 bd · 1.0 ba · 902 sqft · Built 1979 · Manufactured · Active · 185 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,137/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $-3/mo
• Annual: $-39/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• 1% rule: 0.76%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $-3 ($-39/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (24.2% below list).
• It's been on market 185 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (24.2% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.1% local appreciation)).
• Location reads 66/100 on livability (#76 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Bicentennial Union High School District (4515) (rural): math 0% / reading 11% proficiency, ranked #448 of 501 in AZ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Salome Elementary School (math 22% / reading 22%, grade F, #687 of 1,109 statewide, top 65%, 124 students, 70% FRL); Salome High School (math 10% / reading 10%, grade F, #298 of 381 statewide, top 90%, 126 students, 80% FRL).
• Market conditions: 138 active listings in the ZIP; 92 units permitted in La Paz County in 2024 (0 in 5+ unit buildings).
• La Paz County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.0% in Salome — 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

• 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 185 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.