3654 N Highway 95 #21

Parker Strip, AZ 85344

$199,900D+

2 bd · 2.0 ba · 992 sqft · Built 1999 · Manufactured · Pending · 266 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,955/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$333
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $163/mo
• Annual: $1,952/yr
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• 1% rule: 0.98%
• Cash to close: $55,972

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $200k. Condition is rated average.
• At list price, monthly cash flow is $163 ($2k/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 $195k (2.2% below list).
• It's been on market 266 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#150 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, crime B+; Watch: health & safety C-, amenities F, commute F.
• Parker Unified School District (4510) (town): math 18% / reading 18% proficiency, ranked #200 of 249 in AZ (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blake Primary School (354 students, 70% FRL); Wallace Jr High School (math 15% / reading 18%, grade F, #151 of 218 statewide, top 70%, 303 students, 73% FRL); Parker High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 507 students, 69% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 147 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.
• 2 sale attempts; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.3% vs local median 3.7% in Parker Strip — 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

• It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: ceiling fans — need cleaning
• Minor: ceiling lights — need cleaning