Panel vintageSeptember 1, 202653 synthetic assetsDemonstration data — no real listings, no addresses
Parcel
Contact the desk

PRS-03

Peoria South · Peoria, AZ 85381 · Fourplex · 4 doors

ActiveFourplexBuilt 1978
Asking
$612,000
Est. rent / mo
$5,480
Est. cap rate
6.71%
Est. cash-on-cash
3.18%
Est. DSCR
1.15
Rent / price
0.895%
$ / sq ft
$196
Est. cash flow / mo
$446

At the baseline set: 25% down, 6.75%, 30-year amortisation. Estimates.

Representative stock photograph — two-storey walk-up elevation with an exterior stair. Not a photograph of any asset in this panel.
Representative stock photograph — renovated kitchen with quartz counters and vinyl plank flooring. Not a photograph of any asset in this panel.
Representative stock photograph — vacant living area with vinyl plank flooring and a slider to the patio. Not a photograph of any asset in this panel.
Representative stock photograph — renovated bathroom with a tiled tub surround. Not a photograph of any asset in this panel.
Representative stock photograph — exterior condenser units on a gravel pad. Not a photograph of any asset in this panel.

Representative stock photography of Phoenix-metro residential product. These are not photographs of this asset — there is no such asset. This panel publishes a code and a submarket and nothing finer, because a plausible house number on a real street is a real house, and putting an invented price under a photograph of one is the thing this whole demonstration exists to avoid.

The read

Four 2/1 doors at roughly 780 sq ft. Updated in 2021, which pushes the rehab reserve down and the going-in yield up relative to the untouched fourplex rows.

  • Four 2/1 units
  • All units updated 2021
  • Owner-paid water and trash
  • Separately metered electric

Facts

Physical
Property typeFourplex
Units4
Bedrooms / bathrooms4 / 4
Living area3,120 sq ft
Lot11,326 sq ft
Year built1978 (48 yrs)
Stories1
ParkingCovered, 6 spaces
Panel codePRS-03
LocationPeoria South, Peoria 85381
Carry — estimated
Property tax / yr$3,670
Insurance / yr$2,800
HOA / moNone
Other fixed / yr$1,900
Total est. operating / yr$20,733
HVAC installed2017
Roof installed2020
Water providerCity of Peoria
FEMA flood zoneZone X

Underwrite it

Every figure below recomputes as you move an input. Nothing is rounded until it is printed, and operating expenses never include debt service — that separation is what makes the cap rate a property of the building and the cash-on-cash a property of your deal. All outputs are estimates.

Purchase & financing
Income
Operating expenses

Monthly cash flow

+$446

after debt service, before tax

Cap rate

6.71%

NOI ÷ purchase price

Cash-on-cash

3.18%

cash flow ÷ cash invested

DSCR

1.15

NOI ÷ annual debt service

Where the gross rent goes

  • Vacancy$3,946
  • Operating$20,733
  • Debt service$35,725
  • Cash flow$5,357
Annual income statement — estimated
Gross scheduled income$65,760
Less vacancy & credit loss−$3,946
Effective gross income$61,814
Less fixed operating−$8,370
Less variable operating−$12,363
Net operating income$41,082
Less annual debt service−$35,725
Pre-tax cash flow$5,357
Loan amount$459,000
Monthly principal & interest$2,977
Cash invested$168,300
Operating expense ratio33.5%
Break-even occupancy85.9%
Gross rent multiplier9.3
Rent-to-price ratio0.895%

Estimated figures produced by a model from the assumptions on the left. Not an offer, an appraisal, a loan quote or investment advice. Taxes, insurance and operating expenses are estimates; verify each before you commit capital.

What it would have to cost

The asking price against three solved thresholds

Rent and every operating line held exactly as stated; only the purchase price moves. Each mark is the price that solves one condition. Nothing here is a price history: this asset has none, and inventing one would be the easiest dishonest thing on the page.

Solved prices, holding rent and operating expenses fixed. At the asking price this asset computes to a 6.71% cap rate, 3.18% cash-on-cash and a DSCR of 1.15.
ConditionPricevs askWhat it means
Current asking price$612,000—The number on the panel. Everything below is measured against it.
DSCR 1.00$704,000+15.0%net operating income exactly covers the mortgage; cash flow is zero
Leverage turns (5.84%)$704,000+15.0%above this cap rate the loan adds to the return instead of subtracting from it

Asking price carried on the submarket index

The current asking price projected backwards on the Peoria South median-price index. Arithmetic on two synthetic series — not an appraisal, not a price history and not a record of any transaction.

Comparables

Rent is compared per unit, which is the only fair basis across a house and a fourplex. The subject sits 7.7% below the median of its five closest comparables.

Monthly rent per unit

Drawn from the panel itself, ranked by product family, unit size, bedroom count and proximity at the resolution this data has: same submarket, then same city.

  • PRS-03Subjectsubject · 4/4 · 780 sq ft/unit
    $1,370
  • WMS-03Elsewhere in metro · 4/4 · 760 sq ft/unit
    $1,330
  • ALH-05Elsewhere in metro · 4/4 · 820 sq ft/unit
    $1,485
  • GLC-04Elsewhere in metro · 4/4 · 880 sq ft/unit
    $1,545
  • ALH-03Elsewhere in metro · 4/4 · 610 sq ft/unit
    $1,205
  • WMS-04Elsewhere in metro · 2/2 · 860 sq ft/unit
    $1,490
Table
Monthly rent per unit — full data. Drawn from the panel itself, ranked by product family, unit size, bedroom count and proximity at the resolution this data has: same submarket, then same city.
ComparableDetailRent / unit / mo
PRS-03 (subject)subject · 4/4 · 780 sq ft/unit$1,370
WMS-03Elsewhere in metro · 4/4 · 760 sq ft/unit$1,330
ALH-05Elsewhere in metro · 4/4 · 820 sq ft/unit$1,485
GLC-04Elsewhere in metro · 4/4 · 880 sq ft/unit$1,545
ALH-03Elsewhere in metro · 4/4 · 610 sq ft/unit$1,205
WMS-04Elsewhere in metro · 2/2 · 860 sq ft/unit$1,490
Price comparables — 4 nearest assets of the same product type
AssetSubmarketProximityAskSq ft$ / sq ft
PRS-03 SubjectPeoria South—$612,0003,120$196
GLC-04Glendale CentralElsewhere in metro$706,0003,520$201
ALH-05AlhambraElsewhere in metro$674,0003,280$205
ALH-03AlhambraElsewhere in metro$512,0002,440$210
WMS-03West MesaElsewhere in metro$552,0003,040$182

Sensitivity

What a five-percent move in price or fifty basis points on the rate does to the return. Computed at the baseline assumption set, not at whatever you have set the calculator to — it is a fixed reference.

Sensitivity — cash-on-cash by price and rate

Every other assumption held at the baseline set. A fixed reference, not tied to the calculator above. Estimates.

Cash-on-cash return by purchase price and interest rate
Price \ Rate5.75%6.25%6.75%7.25%7.75%
$563,000−8%7.4%6.4%5.3%4.2%3.1%
$587,500−4%6.3%5.3%4.2%3.1%2.0%
$612,000ask5.3%4.3%3.2%2.1%1.0%
$636,500+4%4.4%3.3%2.2%1.1%0.0%
$661,000+8%3.5%2.4%1.4%0.3%-0.8%

Cash-on-cash-0.8% → 7.4%

What to check before you commit

  • HVAC

    Condenser installed 2017, 9 years old. Inside normal service life for this climate, so the CapEx reserve carries it rather than a year-one line item.

  • Roof

    Roof dates to 2020, 6 years old — inside the window most carriers will write without a surcharge.

  • Flood

    FEMA Zone X. Outside the mapped special flood hazard area; a lender will not require separate flood coverage.

  • Water allocation

    Served by City of Peoria. Long-run Colorado River and Central Arizona Project allocation is a genuine risk to price on the metro’s growth edges over a 10-to-20 year hold. It is a discount-rate question, not a next-quarter question.

  • No HOA

    No association. Nothing constrains rental use at the community level, and there is no fixed monthly charge in the expense line.