10508 N Harris Blvd

Elfrida, AZ 85610

$39,900B

3 bd · 2.0 ba · 864 sqft · Built 1987 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,061/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $529/mo
• Annual: $6,348/yr
• Cap rate: 22.20%
• Cash-on-cash: 56.82%
• DSCR: 3.53
• 1% rule: 2.66%
• Cash to close: $11,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 19 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-1.1%/yr); year-one equity from $276 of loan paydown is wiped out by about $452 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#239 in AZ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Elfrida Elementary District (4185) (rural): math 20% / reading 25% proficiency, ranked #355 of 501 in AZ (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Elfrida Elementary School (math 44% / reading 32%, grade F, #426 of 1,109 statewide, top 38%, 106 students, 74% FRL) — zoned schools at 74% FRL track the district average.
• Zoned-school proficiency averages 38% at this address vs 22% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Elfrida Elementary District (4185) average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.5% of price.
• Market conditions: 65 active listings in the ZIP; 437 units permitted in Cochise County in 2024 (6 in 5+ unit buildings).
• Cochise County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 25y 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.
• Current owner paid $30k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.