701 S Meadow St · Payson, AZ 85541

$304,900

2 bd · 2.0 ba · 1,071 sqft · MultiFamily public records · 93 Days on market

Built 2019 4,356 sqft lot $285/sqft · at area comps Est $298k · at est.

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Why this score? — see what drove the C- 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).

• Cash flow +22.1/30.0
• DSCR +7.1/10.0
• ARV discount +6.4/15.0
• 1% rule +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

What A Find!!! This 2 bed 2 bath home sitting at 1,071 sf is the perfect summer retreat! Within walking distance to local restaurants, shopping, and Green Valley Park! Home features Vaulted Ceilings, Upgraded Flooring, Electric Tankless water heater, Stainless Appliances, Fenced Dog Run, and a Large Covered Patio! Home has plenty of places to add a door for more convenient access to the back or side yard. If you are looking for a new place to call home or even a rental property, this is not one to miss!

Key facts

• Upgraded flooring
• Stainless appliances
• Fenced dog run

Tags

• VAULTED CEILINGS
• UPGRADED FLOORING
• ELECTRIC TANKLESS WATER HEATER
• STAINLESS APPLIANCES
• FENCED DOG RUN
• LARGE COVERED PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $305k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $291k (4.7% below list).
• Recommended offer: $277k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.3% in Payson — 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 69/100 on livability (#44 in AZ) — a middle-class / working-renter tenant base. Strengths: housing A, crime B, cost of living B; Watch: amenities D-, commute F, health & safety F.
• Payson Unified District (4209) (town): math 20% / reading 32% proficiency, ranked #138 of 249 in AZ (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Julia Randall Elementary School (math 20% / reading 36%, grade F, #586 of 1,109 statewide, top 53%, 576 students, 58% FRL); Rim Country Middle School (math 21% / reading 31%, grade F, #100 of 218 statewide, top 47%, 493 students, 53% FRL); Payson High School (math 22% / reading 32%, grade F, #141 of 381 statewide, top 38%, 790 students, 40% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 706 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 217 units permitted in Gila County in 2024 (0 in 5+ unit buildings).
• At $2,906/mo this rent would consume 53% of the median local household income ($66k/yr) (locally 523% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Gila County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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.

Recommended offer $277,459 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (median comp): $297,598
• List price: $304,900
• Delta: 2.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-18,154
• Equity at exit: $45,462

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $24,038
• Equity at exit: $26,362

Cash invested: $85,372 (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 85541

• Home prices YoY: -6.6%
• Active inventory: 706
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $2,906 medium
• Mortgage (P&I): −$1,599
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $493

Break-even live

Break-even rent $2,282

Max offer price $304,900

Occupancy floor 78%

Sensitivity live

Price	-10% $666	-5% $579	+0% $493	+5% $407	+10% $320
Rent	-10% $263	-5% $378	+0% $493	+5% $608	+10% $723
Rate	-1.0pp $646	-0.5pp $570	base $493	+0.5pp $414	+1.0pp $334

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,906
Total (2 units)			$2,906

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: $76,225
• Closing costs: $9,147
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1015 S Goodfellow Rd Payson, AZ	3.0	2.0	1092	$2,000	$1.83	22d	1	0.46mi
512 W Longhorn Rd Unit 4 Payson, AZ	2.0	1.0	1000	$1,450	$1.45	45d	1	0.55mi
333 N McLane Rd Payson, AZ	1.0–2.0	1.0–2.0	1205	$2,080	$1.73	15d	2	0.88mi
801 E Frontier St Unit 43 Payson, AZ	2.0	2.0	960	$1,395	$1.45	45d	1	0.96mi
801 E Frontier St Apt 49 Payson, AZ	2.0	2.0	960	$1,400	$1.46	45d	1	0.96mi
801 E Frontier St Apt 05 Payson, AZ	2.0	1.5	940	$1,400	$1.49	45d	1	0.97mi
905 N Beeline Hwy Payson, AZ	2.0–3.0	2.0	1350	$1,500	$1.11	45d	2	1.49mi

Listing history 28 events

1. 2026-06-21
   days on market $304,900 Active 93 DOM
2. 2026-06-19
   days on market $304,900 Active 91 DOM
3. 2026-06-18
   days on market $304,900 Active 90 DOM
4. 2026-06-17
   days on market $304,900 Active 89 DOM
5. 2026-06-16
   days on market $304,900 Active 88 DOM
6. 2026-06-15
   days on market $304,900 Active 87 DOM
7. 2026-06-14
   days on market $304,900 Active 85 DOM
8. 2026-06-12
   days on market $304,900 Active 84 DOM
9. 2026-06-09
   days on market $304,900 Active 81 DOM
10. 2026-06-08
    days on market $304,900 Active 80 DOM
11. 2026-06-07
    days on market $304,900 Active 79 DOM
12. 2026-06-03
    days on market $304,900 Active 75 DOM
13. 2026-06-02
    days on market $304,900 Active 74 DOM
14. 2026-06-01
    days on market $304,900 Active 73 DOM
15. 2026-05-31
    days on market $304,900 Active 72 DOM
16. 2026-05-31
    days on market $304,900 Active 71 DOM
17. 2026-04-09
    price $304,900 508-char remark

    Show marketing remark (508 chars)

    What A Find!!! This 2 bed 2 bath home sitting at 1,071 sf is the perfect summer retreat! Within walking distance to local restaurants, shopping, and Green Valley Park! Home features Vaulted Ceilings, Upgraded Flooring, Electric Tankless water heater, Stainless Appliances, Fenced Dog Run, and a Large Covered Patio! Home has plenty of places to add a door for more convenient access to the back or side yard. If you are looking for a new place to call home or even a rental property, this is not one to miss!

18. 2026-03-20
    listed $314,900 Active 508-char remark

    Show marketing remark (508 chars)

    What A Find!!! This 2 bed 2 bath home sitting at 1,071 sf is the perfect summer retreat! Within walking distance to local restaurants, shopping, and Green Valley Park! Home features Vaulted Ceilings, Upgraded Flooring, Electric Tankless water heater, Stainless Appliances, Fenced Dog Run, and a Large Covered Patio! Home has plenty of places to add a door for more convenient access to the back or side yard. If you are looking for a new place to call home or even a rental property, this is not one to miss!

19. 2021-06-23
    soldstatus $270,000 Closed 160-char remark

    Show marketing remark (160 chars)

    Home is an investment property ,and is completely furnished. All furnishings can be purchased on a separate bill of sale. Home and it furnishings look like new!

20. 2021-04-19
    status Pending 160-char remark

    Show marketing remark (160 chars)

    Home is an investment property ,and is completely furnished. All furnishings can be purchased on a separate bill of sale. Home and it furnishings look like new!

21. 2021-04-14
    listed $255,000 Active 160-char remark

    Show marketing remark (160 chars)

    Home is an investment property ,and is completely furnished. All furnishings can be purchased on a separate bill of sale. Home and it furnishings look like new!

22. 2019-01-31
    soldstatus $50,000
23. 2019-01-31
    soldstatus $50,000
24. 2018-06-30
    listed $79,900
25. 2016-12-31
    historical
26. 2016-02-01
    listed $100,000
27. 2001-11-29
    soldstatus $77,500
28. 1992-10-27
    soldstatus $55,000

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $2,012 · $168/mo
• Expected delta: +$1,090/yr (+$91/mo · 118.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,872
• − Mortgage interest: −$17,079
• − Property taxes: −$922
• − Insurance: −$1,524
• − Repairs & maintenance: −$2,790
• − Management: −$2,790
• − Depreciation: −$8,870
• Taxable income: $897
• Est. tax owed @ 24.0%: −$215
• After-tax cash flow: $5,700/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: Payson Unified District (4209)
• NCES district ID: 0406070
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 32% ▼ -16.00%
• Median HH income: $41,440
• Composite: 22.03/100
• National rank: #8200
• State rank: #138 of 249 in AZ

Livability — Payson

• Score: 69/100
• State rank: #44
• US rank: #8740

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Payson, AZ
• County: Gila County · 23,382 people
• City population: 23,382
• Metro: Payson, AZ
• Population (ZIP): 23,382
• Household income: $66,383
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 523.0

Population outlook (Gila County) Hauer SSP2

• Today (2025): 50,229 people
• By 2030: 48,202 · -4.0%
• By 2040: 44,101 · -12.2%
• By 2050: 41,041 · -18.3%
• By 2075: 37,536 · -25.3%
• By 2100: 32,485 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3% Lithuanian 2% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Gila

• 2024 margin: Solid R (+37.6) · D 30.8% · R 68.4%
• 2008→2024 swing: -9.8pp toward R · 2008: -27.8pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+34.1 2016: R+32.4 2012: R+26.4 2008: R+27.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.47%
• Current HPI: 416.4005
• Rent YoY: —
• Metro: Payson, 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

+454.4% since first listed

12 events — show timeline

• 2026-04-09 Price Changed $304,900 CAAR
• 2026-03-20 Listed $314,900 CAAR
• 2021-06-23 Sold (MLS) $270,000 ARMLS
• 2021-04-19 Pending — ARMLS
• 2021-04-14 Listed $255,000 ARMLS
• 2019-01-31 Sold (Public Records) $50,000 Public Records
• 2019-01-31 Sold (MLS) $50,000 CAAR
• 2018-06-30 Listed $79,900 CAAR
• 2016-12-31 Listing Removed — ARMLS
• 2016-02-01 Listed $100,000 ARMLS
• 2001-11-29 Sold (Public Records) $77,500 Public Records
• 1992-10-27 Sold (Public Records) $55,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $922 · +0.8% YoY. Source: county tax records.