Evia Plan

Wickenburg, AZ 85390

$369,900F

2 bd · 2.0 ba · 1,552 sqft · Built — · SingleFamily · Active · 650 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,664/mo
• Mortgage (P&I): −$2,206
• Tax + insurance: −$701
• HOA: −$0
• Vac / Maint / Mgmt: −$559
• Net cashflow: $-802/mo
• Annual: $-9,623/yr
• Cap rate: 4.01%
• Cash-on-cash: -8.17%
• DSCR: 0.64
• 1% rule: 0.63%
• Cash to close: $117,766

Investor read

• This is a 2-bed/2.0-bath single-family listed at $370k.
• At list price, monthly cash flow is $-802 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (28.0% below list).
• It's been on market 650 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $266k (28.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#41 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: amenities F, commute F.
• Wickenburg Unified District (4236) (rural): math 33% / reading 35% proficiency, ranked #92 of 249 in AZ (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Festival Foothills Elementary School (math 47% / reading 47%, grade D-, #308 of 1,109 statewide, top 29%, 314 students, 31% FRL); Vulture Peak Middle School (math 27% / reading 32%, grade F, #84 of 218 statewide, top 41%, 162 students, 51% FRL); Wickenburg High School (math 27% / reading 32%, grade F, #120 of 381 statewide, top 34%, 460 students, 40% FRL).
• Market conditions: 380 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 2,062 units permitted in Yavapai County in 2024 (98 in 5+ unit buildings).
• Yavapai County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 4.0% vs local median 3.0% in Wickenburg — 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.
• At $2,664/mo this rent would consume 47% of the median local household income ($69k/yr) (locally 251% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 650 days. Have you received any prior offers? Is the seller open to a 28% 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 D-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.
• 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.