2343 Quarter Horse Trl · Heber-Overgaard, AZ 85928

$120,000

2 bd · 1.0 ba · 6,912 sqft · Condo public records · 92 Days on market

Built 2006 $327/mo HOA · 18% of rent

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Why this score? — see what drove the B 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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Adorable 2 Bed / 1 Bath Condo in Bison Resort Suites - Heber, AZ Welcome to your charming getaway in the heart of the White Mountains! This well-maintained 2-bedroom, 1-bath condo is located in the quaint and peaceful Bison Resort Suites community of Heber. The home is fully furnished and completely turn-key ready, just bring your bags! Lightly used and lovingly cared for, this condo hasn't been lived in for years but remains a pristine mountain retreat. Whether you're looking for a second home, vacation rental, or year-round residence, this property is ready to enjoy. The HOA offers beautifully landscaped grounds, serene mountain views, and a variety of amenities to make your stay both relaxing and enjoyable. Don't miss this rare opportunity to own this adorable condo!

Key facts

• Landscaped grounds
• Turn-key ready
• Fully furnished

Tags

• FULLY FURNISHED
• TURN-KEY READY
• LANDSCAPED GROUNDS
• SERENE MOUNTAIN VIEWS
• VARIETY OF AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.2% in Heber-Overgaard — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Heber-Overgaard Unified District (4392) (rural): math 52% / reading 45% proficiency, ranked #51 of 249 in AZ (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 156 active listings in the ZIP; 485 units permitted in Navajo County in 2024 (11 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($830 loan paydown + $1k appreciation (0.9% local appreciation)).
• Navajo County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $120k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.54% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.82×
• Total profit: $27,619
• Equity at exit: $40,076

10-year hold

• IRR: 19.8%
• Equity multiple: 3.37×
• Total profit: $79,765
• Equity at exit: $52,577

Cash invested: $33,600 (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 85928

• Home prices YoY: 0.2%
• Active inventory: 156
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$50
• HOA: −$327
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $409

Break-even live

Break-even rent $1,328

Max offer price $120,000

Occupancy floor 73%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $327 · $3,924/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-06
   price $120,000 780-char remark

   Show marketing remark (780 chars)

   Adorable 2 Bed / 1 Bath Condo in Bison Resort Suites - Heber, AZ Welcome to your charming getaway in the heart of the White Mountains! This well-maintained 2-bedroom, 1-bath condo is located in the quaint and peaceful Bison Resort Suites community of Heber. The home is fully furnished and completely turn-key ready, just bring your bags! Lightly used and lovingly cared for, this condo hasn't been lived in for years but remains a pristine mountain retreat. Whether you're looking for a second home, vacation rental, or year-round residence, this property is ready to enjoy. The HOA offers beautifully landscaped grounds, serene mountain views, and a variety of amenities to make your stay both relaxing and enjoyable. Don't miss this rare opportunity to own this adorable condo!

2. 2026-04-15
   status Active 780-char remark

   Show marketing remark (780 chars)

   Adorable 2 Bed / 1 Bath Condo in Bison Resort Suites - Heber, AZ Welcome to your charming getaway in the heart of the White Mountains! This well-maintained 2-bedroom, 1-bath condo is located in the quaint and peaceful Bison Resort Suites community of Heber. The home is fully furnished and completely turn-key ready, just bring your bags! Lightly used and lovingly cared for, this condo hasn't been lived in for years but remains a pristine mountain retreat. Whether you're looking for a second home, vacation rental, or year-round residence, this property is ready to enjoy. The HOA offers beautifully landscaped grounds, serene mountain views, and a variety of amenities to make your stay both relaxing and enjoyable. Don't miss this rare opportunity to own this adorable condo!

3. 2026-03-31
   status Pending Take Backup 780-char remark

   Show marketing remark (780 chars)

   Adorable 2 Bed / 1 Bath Condo in Bison Resort Suites - Heber, AZ Welcome to your charming getaway in the heart of the White Mountains! This well-maintained 2-bedroom, 1-bath condo is located in the quaint and peaceful Bison Resort Suites community of Heber. The home is fully furnished and completely turn-key ready, just bring your bags! Lightly used and lovingly cared for, this condo hasn't been lived in for years but remains a pristine mountain retreat. Whether you're looking for a second home, vacation rental, or year-round residence, this property is ready to enjoy. The HOA offers beautifully landscaped grounds, serene mountain views, and a variety of amenities to make your stay both relaxing and enjoyable. Don't miss this rare opportunity to own this adorable condo!

4. 2026-02-01
   listed $130,000 Active 780-char remark

   Show marketing remark (780 chars)

   Adorable 2 Bed / 1 Bath Condo in Bison Resort Suites - Heber, AZ Welcome to your charming getaway in the heart of the White Mountains! This well-maintained 2-bedroom, 1-bath condo is located in the quaint and peaceful Bison Resort Suites community of Heber. The home is fully furnished and completely turn-key ready, just bring your bags! Lightly used and lovingly cared for, this condo hasn't been lived in for years but remains a pristine mountain retreat. Whether you're looking for a second home, vacation rental, or year-round residence, this property is ready to enjoy. The HOA offers beautifully landscaped grounds, serene mountain views, and a variety of amenities to make your stay both relaxing and enjoyable. Don't miss this rare opportunity to own this adorable condo!

5. 2010-07-30
   soldstatus $48,000
6. 2008-01-30
   historical
7. 2007-07-15
   listed $119,500

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $792 · $66/mo
• Expected delta: +$277/yr (+$23/mo · 53.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,149
• − Mortgage interest: −$6,722
• − Property taxes: −$515
• − Insurance: −$600
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − HOA: −$3,924
• − Depreciation: −$3,491
• Taxable income: $3,354
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $4,103/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: Heber-Overgaard Unified District (4392)
• NCES district ID: 0400026
• Math proficiency: 52% ▼ -5.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $37,916
• Composite: 40.42/100
• National rank: #3727
• State rank: #51 of 249 in AZ

Livability — Heber-Overgaard

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 376

Population outlook (Navajo County) Hauer SSP2

• Today (2025): 105,760 people
• By 2030: 103,301 · -2.3%
• By 2040: 97,070 · -8.2%
• By 2050: 88,850 · -16.0%
• By 2075: 65,180 · -38.4%
• By 2100: 37,281 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 6% Slovak 6% Lithuanian 5%

Political lean MEDSL · Navajo

• 2024 margin: R (+17.2) · D 40.9% · R 58.1%
• 2008→2024 swing: -5.5pp toward R · 2008: -11.7pp · 2024: -17.2pp
• All cycles: 2024: R+17.2 2020: R+8.2 2016: R+7.9 2012: R+8.4 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.86%
• Current HPI: 443.6984
• Rent YoY: —
• Metro: —
• 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

+0.4% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $120,000 WMMLS
• 2026-04-15 Relisted — WMMLS
• 2026-03-31 Pending — WMMLS
• 2026-02-01 Listed $130,000 WMMLS
• 2010-07-30 Sold (Public Records) $48,000 Public Records
• 2008-01-30 Listing Removed — ARMLS
• 2007-07-15 Listed $119,500 ARMLS

Property tax history

+5.7%/yr

Latest (2025): $515 · +1.6% YoY. Source: county tax records.