8220 E Garfield St Unit M207 · Scottsdale, AZ 85257

$125,000

2 bd · 1.0 ba · 888 sqft · Condo · 132 Days on market

Built 1965 $141/sqft · at area comps Est $130k · at est. $407/mo HOA · 24% of rent

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Why this score? — see what drove the C- 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 +16.8/30.0
• ARV discount +9.3/15.0
• 1% rule +8.7/10.0
• DSCR +5.2/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT PRICE FOR 2 BEDROOM WITH ENCLOSED BALCONY(MAKES GREAT DEN). FRESHLY PAINTED UPDATED BATHROOM, OPEN & BRIGHT LIVING AREA & KITCHEN, LAMINATE WOOD FLOORING & TILE. TEXTURED CEILINGS AND CEILING FANS. $407 MONTHLY COVERS:TAXES, BLANKET INSUR. WATER, FULL REPAIR OF ROOFS, BUILDING, A/C & HEATING UNIT, WATER HEATER, ELECTRICAL & PLUMBING IN WALLS, 4 SWIMMING POOLS, 4 LG. LAUNDRY ROOMS, EXERCISE RM, LIBRARY, MEETING RM, PICNIC & PLAY AREAS. *COOP MUST BE CASH ONLY, NO RENTALS ALLOWED. ASSISTED/COMFORT ANIMALS ONLY, FAST & EASY BOARD & CREDIT APPROVAL DONE. NO DEED OR TITLE FEES, BUYER HAS MEMBERSHIP FOR LIFE. NEAR FREEWAYS, SHOPPING, BUS STOP, FREE TROLLEY, PARKS & SCHOOLS. PERFECT FOR WINTER VISITORS, ASU STUDENTS OR JUST WANTING MAINTENANCE FREE LIVING IN THE HEART OF SCOTTSDALE.

Key facts

• Enclosed balcony
• Ceiling fans
• Four swimming pools

Tags

• ENCLOSED BALCONY
• UPDATED BATHROOM
• LAMINATE WOOD FLOORING
• TEXTURED CEILINGS
• CEILING FANS
• FOUR SWIMMING POOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $80 ($959/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.5% in Scottsdale — 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 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.
• Scottsdale Unified District (4240) (urban): math 53% / reading 55% proficiency, ranked #30 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cheyenne Traditional School (math 78% / reading 75%, grade A, #24 of 1,109 statewide, top 2%, 880 students, 4% FRL); Coronado High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 740 students, 64% FRL).
• Market conditions: Rents rising (+2.8%/yr); 270 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.37% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.74%
• DSCR: 1.12
• GRM: 6.1

CMA / ARV

• ARV (median comp): $130,322
• List price: $125,000
• Delta: -4.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.8% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.56×
• Total profit: $-15,231
• Equity at exit: $18,638

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-6,988
• Equity at exit: $10,808

Cash invested: $35,000 (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 85257

• Rents YoY: 2.8%
• Active inventory: 270
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$407
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $80

Break-even live

Break-even rent $1,609

Max offer price $125,000

Occupancy floor 90%

Sensitivity live

Price	-10% $166	-5% $123	+0% $80	+5% $37	+10% $-6
Rent	-10% $-55	-5% $12	+0% $80	+5% $147	+10% $215
Rate	-1.0pp $143	-0.5pp $112	base $80	+0.5pp $48	+1.0pp $15

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
985 N Granite Reef Rd Scottsdale, AZ	2.0	2.0–2.5	1020	$1,662	$1.63	6d	9	0.17mi
885 N Granite Reef Rd Scottsdale, AZ	2.0	2.0–2.5	1000	$1,462	$1.46	15d	1	0.18mi
985 N Granite Reef Rd Scottsdale, AZ	2.0	2.0–2.5	1022	$1,382	$1.35	20d	8	0.19mi
935 N Granite Reef Rd Unit 141 Scottsdale, AZ	2.0	2.0	855	$1,599	$1.87	26d	1	0.20mi
935 N Granite Reef Rd #87 Scottsdale, AZ	2.0	2.0	855	$1,599	$1.87	19d	1	0.20mi
935 N Granite Reef Rd Unit 126A Scottsdale, AZ	2.0	2.0	855	$1,599	$1.87	6d	1	0.20mi
8155 E Roosevelt St #110 Scottsdale, AZ	2.0	2.0	939	$2,100	$2.24	45d	1	0.20mi
835 N Granite Reef Rd Unit 6A Scottsdale, AZ	2.0	2.0	855	$1,499	$1.75	6d	1	0.27mi
835 N Granite Reef Rd #18 Scottsdale, AZ	2.0	2.0	855	$1,450	$1.70	3d	1	0.27mi
8529 E Portland St Scottsdale, AZ	2.0	1.0	936	$1,425	$1.52	23d	1	0.31mi
8030 E Garfield St Unit 06 Scottsdale, AZ	1.0	1.0	696	$1,299	$1.87	22d	1	0.32mi
1261 N Granite Reef Rd Scottsdale, AZ	2.0	1.5	950	$1,500	$1.58	26d	1	0.34mi
8535 E Belleview St Scottsdale, AZ	2.0	2.0	937	$1,995	$2.13	20d	1	0.39mi
1254 N 85th Pl Scottsdale, AZ	2.0	1.5	950	$1,599	$1.68	22d	1	0.39mi
8530 E Belleview St Scottsdale, AZ	2.0	1.5	950	$1,800	$1.89	16d	1	0.41mi
1221 N 85th Pl Apt 204 Scottsdale, AZ	1.0	1.0	602	$1,395	$2.32	22d	1	0.41mi
848 N 86th Pl Scottsdale, AZ	3.0	2.0	1100	$2,512	$2.28	16d	1	0.42mi
1350 N 85th Pl Scottsdale, AZ	2.0	2.0	936	$1,525	$1.63	26d	1	0.42mi
1221 N 85th Pl Unit 101 Scottsdale, AZ	1.0	1.0	602	$1,395	$2.32	5d	1	0.42mi
1221 N 85th Pl Unit 109 Scottsdale, AZ	2.0	2.0	863	$1,795	$2.08	15d	1	0.42mi
1346 N 85th Pl Scottsdale, AZ	2.0	2.0	950	$1,745	$1.84	23d	1	0.43mi
1346 N 85th Pl Scottsdale, AZ	2.0	1.5	950	$1,749	$1.84	26d	1	0.43mi
7902 E Kimsey Ln Scottsdale, AZ	3.0	2.0	1066	$3,200	$3.00	45d	1	0.45mi
1406 N 85th Pl Scottsdale, AZ	2.0	2.0	1009	$1,541	$1.53	5d	1	0.47mi
1406 N 85th Pl Scottsdale, AZ	1.0	1.0	650	$1,357	$2.09	26d	1	0.47mi
8625 E Belleview Pl #1069 Scottsdale, AZ	2.0	2.0	917	$1,800	$1.96	26d	1	0.54mi
8625 E Belleview Pl Scottsdale, AZ	2.0	2.0	908	$1,775	$1.95	5d	3	0.59mi
8521 E McDowell Rd Unit 1374247P Scottsdale, AZ	2.0	2.0	936	$2,335	$2.49	9d	1	0.61mi
8550 E McDowell Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	823	$1,771	$2.15	0d	9	0.63mi
8407 E Coronado Rd Unit 5 Scottsdale, AZ	1.0	1.0	821	$999	$1.22	0d	1	0.65mi
8407 E Coronado Rd Unit 5 Scottsdale, AZ	1.0	1.0	821	$999	$1.22	19d	1	0.65mi
8407 E Coronado Rd Unit 4 Scottsdale, AZ	1.0	1.0	821	$999	$1.22	26d	1	0.65mi
8444 E Coronado Rd Apt 2 Scottsdale, AZ	2.0	2.0	1022	$1,850	$1.81	26d	1	0.70mi
8750 E McDowell Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	690	$1,750	$2.54	9d	8	0.76mi
1217 N Miller Rd #14 Scottsdale, AZ	2.0	2.0	1026	$1,950	$1.90	26d	1	0.84mi
525 N Miller Rd #145 Scottsdale, AZ	2.0	2.0	945	$2,100	$2.22	45d	1	0.86mi
303 N Miller Rd #1005 Scottsdale, AZ	2.0	1.0	850	$1,275	$1.50	9d	1	0.87mi
525 N Miller Rd Scottsdale, AZ	2.0	2.0	1028	$2,000	$1.94	9d	2	0.89mi
525 N Miller Rd Scottsdale, AZ	2.0–3.0	2.0–3.0	1173	$1,100	$0.94	6d	3	0.89mi
1251 N Miller Rd Scottsdale, AZ	1.0	1.0	600	$1,615	$2.69	9d	1	0.89mi

HOA detail condo

• Monthly dues: $407 · $4,884/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $125,000 Active 132 DOM
2. 2026-06-18
   days on market $125,000 Active 129 DOM
3. 2026-06-17
   days on market $125,000 Active 128 DOM
4. 2026-06-16
   days on market $125,000 Active 127 DOM
5. 2026-06-15
   days on market $125,000 Active 126 DOM
6. 2026-06-13
   days on market $125,000 Active 124 DOM
7. 2026-06-09
   days on market $125,000 Active 120 DOM
8. 2026-06-08
   days on market $125,000 Active 119 DOM
9. 2026-06-07
   days on market $125,000 Active 118 DOM
10. 2026-06-04
    days on market $125,000 Active 115 DOM
11. 2026-06-03
    days on market $125,000 Active 114 DOM
12. 2026-06-02
    days on market $125,000 Active 113 DOM
13. 2026-06-01
    days on market $125,000 Active 112 DOM
14. 2026-05-31
    days on market $125,000 Active 111 DOM
15. 2026-02-09
    listed $125,000 Active 829-char remark

    Show marketing remark (829 chars)

    GREAT PRICE FOR 2 BEDROOM WITH ENCLOSED BALCONY(MAKES GREAT DEN). FRESHLY PAINTED UPDATED BATHROOM, OPEN & BRIGHT LIVING AREA & KITCHEN, LAMINATE WOOD FLOORING & TILE. TEXTURED CEILINGS AND CEILING FANS. $407 MONTHLY COVERS:TAXES, BLANKET INSUR. WATER, FULL REPAIR OF ROOFS, BUILDING, A/C & HEATING UNIT, WATER HEATER, ELECTRICAL & PLUMBING IN WALLS, 4 SWIMMING POOLS, 4 LG. LAUNDRY ROOMS, EXERCISE RM, LIBRARY, MEETING RM, PICNIC & PLAY AREAS. *COOP MUST BE CASH ONLY, NO RENTALS ALLOWED. ASSISTED/COMFORT ANIMALS ONLY, FAST & EASY BOARD & CREDIT APPROVAL DONE. NO DEED OR TITLE FEES, BUYER HAS MEMBERSHIP FOR LIFE. NEAR FREEWAYS, SHOPPING, BUS STOP, FREE TROLLEY, PARKS & SCHOOLS. PERFECT FOR WINTER VISITORS, ASU STUDENTS OR JUST WANTING MAINTENANCE FREE LIVING IN THE HEART OF SCOTTSDALE.

16. 2020-03-21
    historical
17. 2020-02-07
    listed $89,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,518
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − HOA: −$4,884
• − Depreciation: −$3,636
• Taxable loss: −$787
• Est. tax savings @ 24.0%: +$189
• After-tax cash flow: $1,148/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: Scottsdale Unified District (4240)
• NCES district ID: 0407570
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $70,139
• Composite: 48.02/100
• National rank: #2196
• State rank: #30 of 249 in AZ

Livability — Scottsdale

• Score: 80/100
• State rank: #4
• US rank: #1756

Category grades

Amenities A+ Commute A+ Cost of living F Crime B+ Employment A+ Housing A- Health & safety C- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scottsdale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 290,846
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 29,812
• Household income: $86,962
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1086.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 13% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 3% Romanian 3% Italian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Korean 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -411.72%
• Current HPI: 412.043
• Rent YoY: ▲ 2.80%
• Metro: Phoenix-Mesa-Chandler, AZ
• 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

+39.0% since first listed

3 events — show timeline

• 2026-02-09 Listed $125,000 ARMLS
• 2020-03-21 Listing Removed — ARMLS
• 2020-02-07 Listed $89,900 ARMLS