5484 W Heritage Way · Florence, AZ 85132

$329,900

3 bd · 2.0 ba · 1,780 sqft · SingleFamily public records · 196 Days on market

Built 2019 5,947 sqft lot $185/sqft · 12% below area Est $376k · 12% under

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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).

• ARV discount +13.1/15.0
• Cash flow +12.0/30.0
• DSCR +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Anthem Merrill Ranch community. Has a assumable 5.5% $318,5000 Mortgage. Monthly payment $2,107 (PIT & I). Come's with most all furniture.

Key facts

• 5,947 sq ft lot
• Built 2019
• Listed 196 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-79 ($-952/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (22.6% below list).
• Recommended offer: $255k (22.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.1% in Florence — 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 60/100 on livability (#187 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Florence Unified School District (4437) (rural): math 16% / reading 24% proficiency, ranked #178 of 249 in AZ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Florence High School (math 8% / reading 12%, grade F, #343 of 381 statewide, top 93%, 796 students, 44% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 737 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• This rent runs 39% of the median local income ($79k/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 $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,480 (22.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• GRM: 10.8

CMA / ARV

• ARV (median comp): $376,482
• List price: $329,900
• Delta: -12.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3703 N Astoria Dr	0.17mi	3/2.0	1,781 (+0%)	2mo	$350,000	$197	91
5637 W Heritage Way	0.10mi	3/2.0	1,757 (-1%)	3mo	$330,000	$188	90
3909 N Presidio Dr	0.29mi	3/2.0	1,756 (-1%)	1mo	$315,000	$179	84
3258 N San Marin Dr	0.29mi	3/2.0	1,801 (+1%)	3mo	$350,000	$194	82
5821 W Cinder Brook Way	0.35mi	2/2.0 (-1)	1,864 (+5%)	1mo	$375,000	$201	70
3687 N Princeton Ct	0.60mi	2/2.0 (-1)	1,817 (+2%)	4mo	$360,000	$198	60
5942 W Bushwood Way	0.65mi	2/2.0 (-1)	1,832 (+3%)	1mo	$457,000	$249	59
6113 W Sandpiper Way	0.67mi	3/2.0	1,886 (+6%)	1mo	$370,000	$196	58
3544 N Emerald Creek Dr	0.44mi	4/2.0 (+1)	1,965 (+10%)	1mo	$365,000	$186	56
6611 W Trenton Ct	0.72mi	3/2.0	1,627 (-9%)	2mo	$340,000	$209	50
6016 W Bushwood Way	0.69mi	2/2.0 (-1)	1,671 (-6%)	4mo	$485,000	$290	50
2680 N Coronado Dr	0.74mi	3/2.0	1,998 (+12%)	4mo	$344,990	$173	42

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-62,958
• Equity at exit: $49,189

10-year hold

• IRR: -16.6%
• Equity multiple: 0.15×
• Total profit: $-78,957
• Equity at exit: $28,524

Cash invested: $92,372 (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 85132

• Home prices YoY: -5.2%
• Rents YoY: 1.3%
• Active inventory: 737
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,555 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$230 /mo · $2,762/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $-79

Break-even live

Break-even rent $2,655

Max offer price $315,879

Occupancy floor 98%

Sensitivity live

Price	-10% $107	-5% $14	+0% $-79	+5% $-173	+10% $-266
Rent	-10% $-281	-5% $-180	+0% $-79	+5% $22	+10% $122
Rate	-1.0pp $87	-0.5pp $5	base $-79	+0.5pp $-165	+1.0pp $-252

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5728 W Autumn Vista Way Florence, AZ	3.0	2.0	2133	$2,400	$1.13	45d	1	0.31mi
3658 N Princeton Ct Florence, AZ	2.0	2.0	1817	$3,500	$1.93	45d	1	0.65mi
2926 N Coronado Dr Florence, AZ	3.0	2.0	1756	$2,200	$1.25	45d	1	0.69mi
6498 W Victory Way Florence, AZ	3.0	2.0	2144	$2,095	$0.98	7d	1	0.69mi
6431 W Sandpiper Way Florence, AZ	2.0	2.0	1817	$3,500	$1.93	45d	1	0.83mi
6363 W Springfield Way Florence, AZ	3.0	2.0	1997	$2,350	$1.18	45d	1	0.90mi
3947 N Hidden Canyon Dr Florence, AZ	2.0	2.0	1381	$3,000	$2.17	45d	1	0.93mi
6566 W Mockingbird Ct Florence, AZ	2.0	2.0	1381	$3,000	$2.17	45d	1	0.95mi
6645 W Pleasant Oak Ct Florence, AZ	4.0	2.0	2133	$2,000	$0.94	7d	1	0.97mi
2528 N Petersburg Dr Florence, AZ	3.0	2.0	2002	$2,195	$1.10	45d	1	1.23mi
4518 N Petersburg Dr Florence, AZ	2.0	2.0	1644	$2,500	$1.52	26d	1	1.23mi
7347 W Millerton Way Florence, AZ	3.0	2.0	1449	$1,695	$1.17	45d	1	1.44mi
4394 N Hummingbird Dr Florence, AZ	2.0	2.0	1586	$3,500	$2.21	45d	1	1.44mi

Listing history 33 events

1. 2026-06-21
   days on market $329,900 Active 196 DOM
2. 2026-06-18
   days on market $329,900 Active 193 DOM
3. 2026-06-17
   days on market $329,900 Active 192 DOM
4. 2026-06-16
   days on market $329,900 Active 191 DOM
5. 2026-06-15
   days on market $329,900 Active 190 DOM
6. 2026-06-13
   days on market $329,900 Active 188 DOM
7. 2026-06-13
   days on market $329,900 Active 187 DOM
8. 2026-06-09
   days on market $329,900 Active 184 DOM
9. 2026-06-08
   days on market $329,900 Active 183 DOM
10. 2026-06-07
    days on market $329,900 Active 182 DOM
11. 2026-06-04
    days on market $329,900 Active 179 DOM
12. 2026-06-03
    days on market $329,900 Active 178 DOM
13. 2026-06-02
    days on market $329,900 Active 177 DOM
14. 2026-06-01
    days on market $329,900 Active 176 DOM
15. 2026-05-31
    days on market $329,900 Active 175 DOM
16. 2026-04-08
    historical
17. 2026-03-13
    status Active
18. 2026-03-04
    historical Contract Contingent on Buyer Sale
19. 2026-02-17
    price $329,900
20. 2026-01-23
    price $339,500
21. 2026-01-09
    listed $339,900 Active
22. 2025-12-17
    price $329,900 142-char remark

    Show marketing remark (142 chars)

    Anthem Merrill Ranch community. Has a assumable 5.5% $318,5000 Mortgage. Monthly payment $2,107 (PIT & I). Come's with most all furniture.

23. 2025-12-07
    listed $349,900 Active 142-char remark

    Show marketing remark (142 chars)

    Anthem Merrill Ranch community. Has a assumable 5.5% $318,5000 Mortgage. Monthly payment $2,107 (PIT & I). Come's with most all furniture.

24. 2025-09-22
    soldstatus $318,500 Closed
25. 2025-09-22
    soldstatus $318,500
26. 2025-08-23
    status Pending
27. 2025-08-21
    price $315,000
28. 2025-08-07
    price $322,000
29. 2025-07-24
    price $332,000
30. 2025-07-10
    price $340,000
31. 2025-06-26
    price $345,000
32. 2025-06-16
    listed $350,000 Active
33. 2025-06-06
    soldstatus $309,100

ⓘ 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: $2,762 · $230/mo
• Projected year-2 tax: $2,762 · $230/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥112°F today · 16 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: $30,658
• − Mortgage interest: −$18,480
• − Property taxes: −$2,762
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,453
• − Management: −$2,453
• − Depreciation: −$9,597
• Taxable loss: −$6,736
• Est. tax savings @ 24.0%: +$1,617
• After-tax cash flow: $664/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: Florence Unified School District (4437)
• NCES district ID: 0402920
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $54,426
• Composite: 18.31/100
• National rank: #8950
• State rank: #178 of 249 in AZ

Livability — Florence

• Score: 60/100
• State rank: #187
• US rank: #19483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AZ
• County: Pinal County · 399,947 people
• City population: 38,671
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 38,671
• Household income: $79,000
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 102.0

Population outlook (Pinal County) Hauer SSP2

• Today (2025): 437,574 people
• By 2030: 446,903 · +2.1%
• By 2040: 452,589 · +3.4%
• By 2050: 444,126 · +1.5%
• By 2075: 430,300 · -1.7%
• By 2100: 393,536 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 28% Two or more races 9% Black 7% Native American 3%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 5% Portuguese 2% Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 17% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pinal

• 2024 margin: Strong R (+22.1) · D 38.5% · R 60.6%
• 2008→2024 swing: -7.6pp toward R · 2008: -14.5pp · 2024: -22.1pp
• All cycles: 2024: R+22.1 2020: R+17.3 2016: R+19.3 2012: R+17.1 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.75%
• Current HPI: 233.6644
• Rent YoY: ▲ 1.27%
• 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

+6.7% since first listed

18 events — show timeline

• 2026-04-08 Listing Removed — ARMLS
• 2026-03-13 Relisted — ARMLS
• 2026-03-04 Contingent — ARMLS
• 2026-02-17 Price Changed $329,900 ARMLS
• 2026-01-23 Price Changed $339,500 ARMLS
• 2026-01-09 Listed $339,900 ARMLS
• 2025-12-17 Price Changed $329,900 ForSaleByOwner.com
• 2025-12-07 Listed $349,900 ForSaleByOwner.com
• 2025-09-22 Sold (Public Records) $318,500 Public Records
• 2025-09-22 Sold (MLS) $318,500 ARMLS
• 2025-08-23 Pending — ARMLS
• 2025-08-21 Price Changed $315,000 ARMLS
• 2025-08-07 Price Changed $322,000 ARMLS
• 2025-07-24 Price Changed $332,000 ARMLS
• 2025-07-10 Price Changed $340,000 ARMLS
• 2025-06-26 Price Changed $345,000 ARMLS
• 2025-06-16 Listed $350,000 ARMLS
• 2025-06-06 Sold (Public Records) $309,100 Public Records

Property tax history

+29.8%/yr

Latest (2025): $2,762 · +20.9% YoY. Source: county tax records.