6770 W State Route 89a #302

Sedona, AZ 86336

$179,900C+

3 bd · 2.0 ba · 1,447 sqft · Built 2026 · Manufactured · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,164/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $466/mo
• Annual: $5,598/yr
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• 1% rule: 1.20%
• Cash to close: $50,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $180k. Condition is rated good.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 43 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (3.0% 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 $5k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#55 in AZ) — a middle-class / working-renter tenant base. Strengths: commute A+, amenities B+; Watch: cost of living F.
• Sedona-Oak Creek JUSD #9 (4467) (town): math 12% / reading 21% proficiency, ranked #197 of 249 in AZ (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Sedona Elementary School (math 12% / reading 17%, grade F, #898 of 1,109 statewide, top 83%, 256 students, 62% FRL); Sedona Red Rock Junior/Senior High School (math 12% / reading 22%, grade F, #252 of 381 statewide, top 67%, 482 students, 45% FRL).
• Market conditions: Rents soft (-1.3%/yr); 314 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,062 units permitted in Yavapai County in 2024 (98 in 5+ unit buildings).
• Yavapai County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 9.4% vs local median 1.4% in Sedona — 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.
• This rent runs 38% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.