22736 N 72nd Pl

Scottsdale, AZ 85255

$922,581F

3 bd · 2.5 ba · 2,446 sqft · Built 2026 · Townhouse · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,109/mo
• Mortgage (P&I): −$9,132
• Tax + insurance: −$2,902
• HOA: −$279
• Vac / Maint / Mgmt: −$863
• Net cashflow: $-9,067/mo
• Annual: $-108,808/yr
• Cap rate: 0.04%
• Cash-on-cash: -22.32%
• DSCR: 0.01
• 1% rule: 0.24%
• Cash to close: $487,579

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $923k.
• At list price, monthly cash flow is $-9k ($-109k/yr) — negative.
• To cash-flow at today's rent, offer at most $429k (53.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $411k (55.5% below list).
• It's been on market 38 days — a 3% lower offer ($895k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $411k (55.5% below list) — sets the bar for 1% rule.
• In year one you build about $110k of equity ($12k loan paydown + $98k appreciation (5.6% local appreciation)).
• Location reads 80/100 on livability (#4 in AZ, #1,756 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, cost of living F.
• Paradise Valley Unified District (4241) (urban): math 39% / reading 46% proficiency, ranked #56 of 249 in AZ (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pinnacle Peak Preparatory (math 49% / reading 61%, grade C, #202 of 1,109 statewide, top 19%, 477 students, 5% FRL); Mountain Trail Middle School (math 33% / reading 41%, grade F, #57 of 218 statewide, top 27%, 680 students, 24% FRL); Pinnacle High School (math 49% / reading 54%, grade D+, #35 of 381 statewide, top 9%, 2,479 students, 8% FRL) — zoned schools average 12% FRL vs 29% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 2.8% of price.
• Market conditions: Rents rising fast (+4.4%/yr); 737 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$176k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 0.0% vs local median 2.5% in Scottsdale — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 35% of the median local income ($141k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 38 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.