270 E Apodoca St

St. Johns, AZ 85936

$110,257C+

3 bd · 2.0 ba · 1,650 sqft · Built 1901 · Manufactured · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,243/mo
• Mortgage (P&I): −$578
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $220/mo
• Annual: $2,643/yr
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• 1% rule: 1.13%
• Cash to close: $30,872

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k. Condition is rated poor.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 63 days — a 6% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($763 loan paydown + $2k appreciation (1.4% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St Johns Unified District (4153) (town): math 59% / reading 52% proficiency, ranked #34 of 249 in AZ (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Coronado Elementary School (math 74% / reading 64%, grade A-, #59 of 1,109 statewide, top 6%, 290 students, 51% FRL); St Johns Middle School (math 63% / reading 53%, grade B, #5 of 218 statewide, top 2%, 340 students, 44% FRL); St Johns High School (math 37% / reading 42%, grade F, #72 of 381 statewide, top 20%, 317 students, 36% FRL) — zoned schools at 43% FRL track the district average.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 187 active listings in the ZIP; 99 units permitted in Apache County in 2024 (0 in 5+ unit buildings).
• Apache County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 8.7% vs local median 3.0% in St. Johns — 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 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1901 — 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.
• 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)

• Major: roof — The roof appears to be in poor condition.
• Major: exterior siding — The siding is weathered and discolored.
• Major: landscaping — The landscaping is sparse and unkempt.
• Major: interior walls and paint — No interior walls or paint are visible in the photos, but they likely need attention based on the exterior condition.
• Major: HVAC and mechanical systems — No systems are visible in the photos, but they likely need attention based on the overall condition of the property.