645 N 67th Ave #24 · Phoenix, AZ 85043

$124,000

3 bd · 2.0 ba · 1,040 sqft · Manufactured · 156 Days on market

Built 2020

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 2-bath manufactured home built in 2020, located in a gated community with resort-style amenities. Home features Vaulted ceilings, an open floor plan and no CARPET!!! The kitchen features stainless steel appliances, crown-molded cabinetry, generous counter space, and a center island. The primary suite includes dual closets and a private bath with double sinks. Enjoy community pool, spa, clubhouse, media room, and walking paths. Convenient access to I-10 freeway, shopping, and dining. Financing options available for qualified buyers including ITIN loan options.

Key facts

• Gated community
• Open floor plan
• Vaulted ceilings

Tags

• GATED COMMUNITY
• RESORT-STYLE AMENITIES
• VAULTED CEILINGS
• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• CROWN-MOLDED CABINETRY

Property features AI

Finance

• HOA & community: Land lease (approximately $1,000 monthly); Association fee includes street maintenance; Community pool and spa; Community media room; Biking/walking path; Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Security: Gated community
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Vertical siding; Wood frame construction
• Exterior features: Gravel/stone front and back yard; Private maintained road; Composition roof; No fencing

Interior

• Kitchen: Built-in microwave; Kitchen island; Laminate counters; Breakfast bar; Eat-in kitchen; Dishwasher
• Bedrooms: Up to 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fans
• Interior features: High-speed internet available; Double vanity in bathroom; Eat-in kitchen; Breakfast bar; No interior steps (single level); Vaulted ceilings; Kitchen island; Laminate countertops; Dishwasher
• Laundry & utility: Inside laundry with washer/dryer hookups (hookups only)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $124k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.3% in Phoenix — 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 75/100 on livability (#16 in AZ, #3,924 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime F.
• Tolleson Union High School District (4288) (suburban): math 14% / reading 22% proficiency, ranked #188 of 249 in AZ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sierra Linda High School (math 10% / reading 14%, grade F, #287 of 381 statewide, top 76%, 1,975 students, 58% FRL).
• Market conditions: Rents soft (-1.8%/yr); 123 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 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 $857 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.48% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.47%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.35×
• Total profit: $12,286
• Equity at exit: $18,489

10-year hold

• IRR: 15.8%
• Equity multiple: 2.11×
• Total profit: $38,613
• Equity at exit: $10,721

Cash invested: $34,720 (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 85043

• Home prices YoY: -28.6%
• Rents YoY: -1.8%
• Active inventory: 123
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,835 high
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,860/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $592

Break-even live

Break-even rent $1,085

Max offer price $124,000

Occupancy floor 63%

Sensitivity live

Price	-10% $678	-5% $635	+0% $592	+5% $550	+10% $507
Rent	-10% $447	-5% $520	+0% $592	+5% $665	+10% $737
Rate	-1.0pp $655	-0.5pp $624	base $592	+0.5pp $560	+1.0pp $528

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6832 W Fillmore St #174 Phoenix, AZ	2.0	2.0	840	$1,650	$1.96	2d	1	0.11mi
6901 W McDowell Rd Phoenix, AZ	3.0	2.0	1043	$1,593	$1.53	0d	1	0.64mi
6441 W McDowell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	733	$1,214	$1.66	0d	19	0.66mi
6901 W McDowell Rd Unit M 12-106 Phoenix, AZ	3.0	2.0	1043	$2,045	$1.96	0d	1	0.66mi
7021 W McDowell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	812	$1,570	$1.93	0d	17	0.71mi
6405 W McDowell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	592	$1,205	$2.04	0d	35	0.71mi
7077 W McDowell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	783	$1,608	$2.05	0d	15	0.77mi
6231 W McDowell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	752	$1,681	$2.23	0d	48	0.80mi
1653 N 69th Ave Phoenix, AZ	3.0	1.0	1026	$1,949	$1.90	0d	1	0.85mi
7205 W McDowell Rd Phoenix, AZ	2.0–3.0	2.0	1291	$1,915	$1.48	0d	6	0.87mi
6161 W McDowell Rd Phoenix, AZ	1.0–3.0	1.0–2.0	987	$1,735	$1.76	0d	40	0.94mi
6161 W McDowell Rd Phoenix, AZ	2.0	2.0	952	$1,867	$1.96	25d	1	0.94mi
5775 W Roosevelt St Phoenix, AZ	2.0	1.0–2.0	560	$1,680	$3.00	0d	20	1.12mi
6343 W Cypress St Phoenix, AZ	3.0	2.0	1280	$1,780	$1.39	0d	1	1.17mi
5821 W McDowell Rd Phoenix, AZ	1.0–3.0	1.0–2.0	998	$2,324	$2.33	0d	11	1.19mi
7361 W Coronado Rd Phoenix, AZ	3.0	2.0	1493	$1,795	$1.20	11d	1	1.21mi
7725 W McDowell Rd Phoenix, AZ	3.0	1.0–2.0	771	$1,705	$2.21	0d	49	1.42mi
5535 W McDowell Rd Apt 2050 Phoenix, AZ	2.0	1.0	780	$1,170	$1.50	21d	1	1.44mi
5535 W McDowell Rd Unit 1039 Phoenix, AZ	2.0	1.0	780	$1,468	$1.88	0d	1	1.47mi
5535 W McDowell Rd Unit 1021 Phoenix, AZ	2.0	2.0	880	$1,508	$1.71	4d	1	1.48mi
5535 W McDowell Rd Unit 2023 Phoenix, AZ	2.0	2.0	880	$1,270	$1.44	23d	1	1.49mi
5535 W McDowell Rd Unit 2064 Phoenix, AZ	2.0	1.0	780	$1,388	$1.78	0d	1	1.50mi

Listing history 17 events

1. 2026-06-21
   days on market $124,000 Active 156 DOM
2. 2026-06-18
   days on market $124,000 Active 153 DOM
3. 2026-06-17
   days on market $124,000 Active 152 DOM
4. 2026-06-16
   days on market $124,000 Active 151 DOM
5. 2026-06-15
   days on market $124,000 Active 150 DOM
6. 2026-06-13
   days on market $124,000 Active 148 DOM
7. 2026-06-13
   days on market $124,000 Active 147 DOM
8. 2026-06-09
   days on market $124,000 Active 144 DOM
9. 2026-06-08
   days on market $124,000 Active 143 DOM
10. 2026-06-07
    days on market $124,000 Active 142 DOM
11. 2026-06-04
    days on market $124,000 Active 139 DOM
12. 2026-06-03
    days on market $124,000 Active 138 DOM
13. 2026-06-02
    days on market $124,000 Active 137 DOM
14. 2026-06-01
    days on market $124,000 Active 136 DOM
15. 2026-05-31
    days on market $124,000 Active 135 DOM
16. 2026-05-23
    price $124,000
17. 2026-01-16
    listed $125,000 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,015
• − Mortgage interest: −$6,946
• − Property taxes: −$1,860
• − Insurance: −$620
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$3,607
• Taxable income: $5,459
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $5,798/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: Tolleson Union High School District (4288)
• NCES district ID: 0408520
• Math proficiency: 14% ▼ -21.00%
• Reading proficiency: 22% ▼ -14.00%
• Median HH income: $51,925
• Composite: 16.41/100
• National rank: #9193
• State rank: #188 of 249 in AZ

Livability — Phoenix

• Score: 75/100
• State rank: #16
• US rank: #3924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, AZ
• County: Maricopa County · 4,537,380 people
• City population: 1,500,198
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 41,331
• Household income: $78,257
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1019.0

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 Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 33% White 11% Black 11% Native American 3%
• Hispanic origin (detail): Mexican 72%
• Common ancestry: Lithuanian 1% Iranian 1%
• Foreign-born: 27% · Canada
• Languages at home: 41% English-only · Spanish 57%

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: ▼ -124.22%
• Current HPI: 309.495
• Rent YoY: ▼ -1.83%
• 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

-0.8% since first listed

2 events — show timeline

• 2026-05-23 Price Changed $124,000 ARMLS
• 2026-01-16 Listed $125,000 ARMLS