8906 E Olive Ln N · Sun Lakes, AZ 85248

$270,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 24 Days on market

Built 1974 6,830 sqft lot Est $224k · 20% over $153/mo HOA · 6% of rent ↓ 50% since listing

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Why this score? — see what drove the D 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 +17.8/30.0
• DSCR +5.6/10.0
• Schools +4.8/10.0
• 1% rule +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely STUCCOED home in Sun Lakes Country Club. 3 bedroom split plan, 2 baths, large great room so very open, light, and bright! Features include a completely remodeled kitchen with newer appliances; gas cooking, hotwater, and heating; copper plumbing; foam roof recoated in 2009; dual pane windows; upgraded carpeting, light walls, skylights, surround by rebath in master with spa tub; beautifully landscaped yard with mature citrus, private patios. One of the most celebrated active adult lifestyles offered and this appealing property is just waiting for YOU! Furniture could be included if desired!

Key facts

• 6,830 sq ft lot
• 4 parking spots
• Community pool

Property features AI

Finance

• Financial info: Current financing: non-assumable
• HOA & community: Monthly association fee; Association fee includes grounds maintenance; Community amenities include pool, community spa (heated), golf, pickleball, tennis courts, fitness center, community media room, community laundry (coin-op), biking/walking paths, and lake

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2-car carport; Separate storage area
• Security: Gated community; Security guard
• Utilities: Private water company service; Public sewer
• Home design: Manufactured / mobile home; Fee simple ownership
• Construction: Stucco and wood-frame construction; Painted exterior; Foam roof
• Exterior features: Sprinklers front and rear with automatic timers; Gravel/stone front and back yards; Grass in back yard; Block fencing; City-maintained road access; Asphalt road surface

Interior

• Kitchen: Dishwasher; Disposal; Built-in gas oven; Water purifier
• Bedrooms: Up to 5 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric and natural gas heating; Central air conditioning; Ceiling fans
• Interior features: High-speed internet; Full bathroom in primary bedroom; Solar screens; Dual-pane ENERGY STAR windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (7.3% below list).
• Recommended offer: $250k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.8% in Sun Lakes — 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 62/100 on livability (#135 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B+; Watch: health & safety C-, schools D+, cost of living D.
• Chandler Unified District #80 (4242) (suburban): math 49% / reading 57% proficiency, ranked #31 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 349 active listings in the ZIP; 29 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).
• This rent runs 32% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 24 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask is 227% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $70k; list at $270k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,192 (7.3% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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 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.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.52%
• DSCR: 1.16
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $224,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8943 E Ohio Ave	0.41mi	3/2.0	1,362 (+1%)	2mo	$307,250	$226	77
25635 S Country Club Dr	0.31mi	2/2.0 (-1)	1,368 (+2%)	2mo	$203,777	$149	76
9015 E Citrus Ln S	0.17mi	2/2.0 (-1)	1,430 (+6%)	2mo	$249,000	$174	75
9241 E Cactus Ln S	0.43mi	2/2.0 (-1)	1,354 (+1%)	2mo	$274,900	$203	72
9409 E Navajo Pl	0.69mi	3/2.0	1,345 (+0%)	1mo	$225,000	$167	67
26245 S Lakeview Dr	0.30mi	2/2.0 (-1)	1,441 (+7%)	2mo	$324,000	$225	67
9101 E Sun Lakes Blvd S	0.37mi	2/2.0 (-1)	1,440 (+7%)	2mo	$233,400	$162	64
9254 E Cactus Ln S	0.43mi	2/2.0 (-1)	1,416 (+5%)	2mo	$220,000	$155	64
8925 E Utah Ave	0.48mi	2/2.0 (-1)	1,441 (+7%)	3mo	$217,500	$151	59
9039 E Fairway Blvd	0.38mi	2/2.0 (-1)	1,522 (+13%)	0mo	$235,000	$154	55
9205 E Sun Lakes Blvd	0.50mi	2/2.0 (-1)	1,508 (+12%)	2mo	$199,900	$133	50
8905 E Indiana Ave	0.55mi	2/2.0 (-1)	1,152 (-14%)	1mo	$222,500	$193	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-33,625
• Equity at exit: $40,258

10-year hold

• IRR: -5.9%
• Equity multiple: 0.64×
• Total profit: $-26,975
• Equity at exit: $23,345

Cash invested: $75,600 (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 85248

• Home prices YoY: -23.0%
• Rents YoY: 1.4%
• Active inventory: 349
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$73 /mo · $881/yr
• Insurance: −$112
• HOA: −$153
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $222

Break-even live

Break-even rent $2,221

Max offer price $270,000

Occupancy floor 86%

Sensitivity live

Price	-10% $375	-5% $298	+0% $222	+5% $145	+10% $69
Rent	-10% $24	-5% $123	+0% $222	+5% $321	+10% $419
Rate	-1.0pp $358	-0.5pp $290	base $222	+0.5pp $152	+1.0pp $81

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9022 E Citrus Ln S Sun Lakes, AZ	2.0	2.0	1162	$1,750	$1.51	19d	1	0.13mi
9111 E Olive Ln N Sun Lakes, AZ	2.0	2.0	1251	$1,200	$0.96	25d	1	0.27mi
9119 E Citrus Ln S Sun Lakes, AZ	3.0	2.0	1440	$1,400	$0.97	14d	1	0.28mi
9107 E Fairway Blvd Sun Lakes, AZ	2.0	2.0	1313	$3,900	$2.97	0d	1	0.44mi
9348 E Sun Lakes Blvd N Sun Lakes, AZ	2.0	2.0	1480	$2,000	$1.35	16d	1	0.49mi
9334 E Sun Lakes Blvd N Sun Lakes, AZ	2.0	2.0	1236	$2,000	$1.62	5d	1	0.51mi
25424 S Wyoming Ave Sun Lakes, AZ	2.0	2.0	1600	$1,795	$1.12	19d	1	0.55mi
8934 E Minnesota Ave Sun Lakes, AZ	2.0	2.0	970	$1,950	$2.01	6d	1	0.61mi
8931 E Copper Valley Ln Sun Lakes, AZ	2.0	2.0	1012	$1,650	$1.63	45d	1	0.63mi
26618 S Maricopa Pl Sun Lakes, AZ	3.0	2.0	1596	$1,800	$1.13	25d	1	0.64mi
9554 E Fairway Blvd Sun Lakes, AZ	2.0	2.0	1348	$2,100	$1.56	25d	1	0.71mi
25231 S Papago Pl Sun Lakes, AZ	2.0	2.0	1750	$4,000	$2.29	45d	1	0.74mi
9438 E Michigan Ave Sun Lakes, AZ	3.0	2.0	1658	$4,000	$2.41	0d	1	0.77mi
9517 E Navajo Pl Sun Lakes, AZ	2.0	2.0	1324	$1,975	$1.49	45d	1	0.77mi
9635 E Palomino Pl Sun Lakes, AZ	2.0	3.0	1792	$1,850	$1.03	25d	1	0.92mi
9647 E Palomino Pl Sun Lakes, AZ	2.0	2.0	1384	$1,900	$1.37	25d	1	0.94mi
9714 E Sherwood Way Sun Lakes, AZ	2.0	2.0	1823	$4,000	$2.19	2d	1	0.95mi
25246 S Glenburn Dr Sun Lakes, AZ	2.0	2.0	1384	$3,000	$2.17	0d	1	1.10mi
25246 S Glenburn Dr Sun Lakes, AZ	2.0	2.0	1384	$3,200	$2.31	12d	1	1.10mi
26646 S New Town Dr Sun Lakes, AZ	2.0	2.0	1373	$3,000	$2.18	2d	1	1.21mi
9746 E Coopers Hawk Dr Sun Lakes, AZ	2.0	2.0	1566	$4,500	$2.87	25d	1	1.26mi
9746 E Coopers Hawk Dr Unit 1546352P Sun Lakes, AZ	2.0	2.0	1560	$3,066	$1.97	14d	1	1.26mi
26621 S Lakemont Dr Sun Lakes, AZ	2.0	2.0	1300	$2,500	$1.92	25d	1	1.28mi
26625 S Lakemont Dr Sun Lakes, AZ	2.0	2.0	1700	$4,000	$2.35	0d	1	1.28mi
25826 S Cedarcrest Dr Sun Lakes, AZ	2.0	2.0	1823	$3,950	$2.17	0d	1	1.32mi
25115 S Golfview Dr Sun Lakes, AZ	2.0	2.0	1790	$3,500	$1.96	25d	1	1.33mi
25111 S Golfview Dr Sun Lakes, AZ	2.0	2.0	1790	$4,200	$2.35	25d	1	1.34mi
9635 E Rocky Lake Dr Sun Lakes, AZ	2.0	2.0	1575	$2,500	$1.59	45d	1	1.35mi
26011 S Lancewood Ct Sun Lakes, AZ	3.0	2.0	1823	$2,295	$1.26	25d	1	1.36mi

HOA detail

• Monthly dues: $153 · $1,836/yr
• Likely covers: watergas

Listing history 15 events

1. 2026-06-21
   days on market $270,000 Active 24 DOM
2. 2026-06-18
   days on market $270,000 Active 21 DOM
3. 2026-06-17
   days on market $270,000 Active 20 DOM
4. 2026-06-16
   days on market $270,000 Active 19 DOM
5. 2026-06-15
   days on market $270,000 Active 18 DOM
6. 2026-06-13
   days on market $270,000 Active 16 DOM
7. 2026-06-13
   days on market $270,000 Active 15 DOM
8. 2026-06-09
   days on market $270,000 Active 12 DOM
9. 2026-06-08
   days on market $270,000 Active 11 DOM
10. 2026-06-07
    days on market $270,000 Active 10 DOM
11. 2026-06-04
    days on market $270,000 Active 7 DOM
12. 2026-06-03
    days on market $270,000 Active 6 DOM
13. 2026-06-02
    days on market $270,000 Active 5 DOM
14. 2026-06-01
    days on market $270,000 Active 4 DOM
15. 2026-05-31
    days on market $270,000 Active 3 DOM

ⓘ 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: $881 · $73/mo
• Projected year-2 tax: $1,782 · $148/mo
• Expected delta: +$901/yr (+$75/mo · 102.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 3 d/yr ≥112°F today · 9 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: $30,023
• − Mortgage interest: −$15,124
• − Property taxes: −$881
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − HOA: −$1,836
• − Depreciation: −$7,855
• Taxable loss: −$1,826
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $3,099/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: Chandler Unified District #80 (4242)
• NCES district ID: 0401870
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $74,048
• Composite: 47.54/100
• National rank: #2268
• State rank: #31 of 249 in AZ

Livability — Sun Lakes

• Score: 62/100
• State rank: #135
• US rank: #16572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sun Lakes, AZ
• County: Maricopa County · 4,537,380 people
• City population: 37,461
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 37,095
• Household income: $94,495
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 1107.0

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% Asian 13% Hispanic / Latino 8% Two or more races 7% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Portuguese 3% Romanian 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 83% English-only · Spanish 4% Other Asian/Pacific 3% Other Indo-European 3%

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: ▼ -79.23%
• Current HPI: 265.2743
• Rent YoY: ▲ 1.40%
• 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

-50.5% since first listed

12 events — show timeline

• 2026-05-28 Relisted — ARMLS
• 2026-05-28 Price Changed $270,000 ARMLS
• 2026-03-30 Listing Removed — ARMLS
• 2011-11-15 Sold (Public Records) $70,000 Public Records
• 2011-11-15 Sold (MLS) $70,000 ARMLS
• 2011-10-09 Pending — ARMLS
• 2011-09-25 Price Changed $74,900 ARMLS
• 2011-05-05 Listed $82,500 ARMLS
• 2006-04-04 Listing Removed — ARMLS
• 2006-01-17 Listed $184,481 ARMLS
• 1997-06-10 Sold (Public Records) $68,000 Public Records
• 1995-01-12 Sold (Public Records) $545,340 Public Records

Property tax history

+7.8%/yr

Latest (2025): $881 · +2.3% YoY. Source: county tax records.