7300 N 51st Ave Unit B238 · Glendale, AZ 85301

$28,400

2 bd · 1.0 ba · 720 sqft · Manufactured · 91 Days on market

Built 1970 Est $23k · 23% over ↓ 43% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this inviting 2-bedroom, 1-bath home located in a well-maintained 55+ community. This home features new laminate flooring throughout and a roof that was re-rolled in 2022, offering both comfort and peace of mind. Enjoy relaxing or entertaining on the spacious screened-in patio providing the perfect space to unwind year round. The carport side includes a generously sized shed with power that houses the washer and dryer and offers additional storage. Make fresh lemonade from your own lemon tree. Residents enjoy access to community amenities and activities designed for both seasonal visitors and full-time living. An excellent opportunity to enjoy comfortable living at an affordable

Key facts

• 2 parking spots
• Community pool
• Built 1970

Property features AI

Finance

• Other: Building area source: owner
• HOA & community: Land lease: $819 per month; No association fees included; Community pool; Community spa (heated); Community media room; Community laundry with coin-op; Fitness center; Biking/walking path; Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Metal siding; Wood frame construction; Rolled/hot mop roof
• Exterior features: Screened-in patio(s); Gravel/stone front yard; Gravel/stone backyard; Private maintained road

Interior

• Kitchen: Refrigerator; Dishwasher; Built-in gas oven
• Bedrooms: Up to 2 possible bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: High-speed internet; No interior steps; 3/4 bath in master bedroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $28k.

Deal economics

• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $26k (9.0% below list) — sets the bar for market timing.
• Cap rate 36.6% vs local median 3.5% in Glendale — 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 76/100 on livability (#12 in AZ, #3,235 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: health & safety D+, crime F.
• Glendale Union High School District (4285) (urban): math 23% / reading 31% proficiency, ranked #130 of 249 in AZ (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-3.0%/yr); 215 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $196 of loan paydown is wiped out by about $852 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $25,844 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 4.07% ✓
• Cap rate: 36.62%
• Cash-on-cash: 108.32%
• DSCR: 5.82
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $23,040
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7300 N 51st Ave Unit F96	0.09mi	2/2.0	720 (0%)	16mo	$22,000	$31	78
7300 N 51st Ave Unit D212	0.08mi	1/1.0 (-1)	774 (+8%)	9mo	$25,000	$32	72
7300 N 51st Ave Ave Unit F177	0.10mi	2/2.0	768 (+7%)	19mo	$12,000	$16	64
7300 N 51st Ave	0.06mi	2/2.0	812 (+13%)	21mo	$42,000	$52	55

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.75×
• Total profit: $37,742
• Equity at exit: $4,235

10-year hold

• IRR: —
• Equity multiple: 10.90×
• Total profit: $78,701
• Equity at exit: $2,456

Cash invested: $7,952 (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 85301

• Home prices YoY: -10.6%
• Rents YoY: -3.0%
• Active inventory: 215
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,157 high
• Mortgage (P&I): −$149
• Tax est. 1.5%: −$36 /mo · $426/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $718

Break-even live

Break-even rent $248

Max offer price $28,400

Occupancy floor 33%

Sensitivity live

Price	-10% $737	-5% $728	+0% $718	+5% $708	+10% $698
Rent	-10% $626	-5% $672	+0% $718	+5% $764	+10% $809
Rate	-1.0pp $732	-0.5pp $725	base $718	+0.5pp $710	+1.0pp $703

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: $7,100
• Closing costs: $852
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7151 N 53rd Ave Unit 3 Glendale, AZ	2.0	1.0	625	$1,400	$2.24	2d	1	0.18mi
7160 N 53rd Ave Unit 2 Glendale, AZ	2.0	1.0	625	$925	$1.48	2d	1	0.20mi
7107 N 53rd Ave Apt 10 Glendale, AZ	1.0	1.0	649	$925	$1.43	2d	1	0.28mi
7107 N 53rd Ave Unit 5 Glendale, AZ	2.0	1.0	750	$1,000	$1.33	2d	1	0.28mi
7107 N 53rd Ave Unit 13 Glendale, AZ	1.0	1.0	420	$750	$1.79	2d	1	0.28mi
4937 W Myrtle Ave Glendale, AZ	1.0–2.0	1.0–2.0	752	$1,225	$1.63	2d	12	0.35mi
7235 N 55th Ave Glendale, AZ	1.0	1.0	631	$925	$1.47	2d	1	0.36mi
7711 N 51st Ave Glendale, AZ	2.0	1.0	590	$1,445	$2.45	2d	67	0.50mi
5623 W Myrtle Ave Unit 105 Glendale, AZ	2.0	1.0	700	$1,195	$1.71	2d	1	0.59mi
5206 W Ocotillo Rd Unit A Glendale, AZ	2.0	1.0	750	$1,350	$1.80	2d	1	0.61mi
4949 W Northern Ave Glendale, AZ	2.0	1.0–2.0	632	$1,445	$2.29	2d	14	0.65mi
7153 N 57th Dr Unit 3 Glendale, AZ	1.0	1.0	607	$925	$1.52	2d	1	0.66mi
8080 N 51st Ave Glendale, AZ	1.0–2.0	1.0–2.0	702	$1,575	$2.24	2d	11	0.73mi
4730 W Northern Ave Glendale, AZ	1.0	1.0	624	$1,120	$1.79	2d	2	0.92mi
4730 W Northern Ave Glendale, AZ	1.0	1.0	624	$1,170	$1.87	8d	2	0.92mi
4730 W Northern Ave Glendale, AZ	1.0–2.0	1.0–2.0	841	$1,200	$1.43	25d	2	0.92mi
4748 W Sierra Vista Dr Unit A1 Glendale, AZ	1.0	1.0	650	$910	$1.40	2d	1	0.92mi
6637 N 58th Dr Unit 8 Glendale, AZ	1.0	1.0	500	$695	$1.39	10d	1	1.02mi
7102 N 43rd Ave Glendale, AZ	2.0	1.0	537	$1,475	$2.74	2d	30	1.08mi
4530 W McLellan Rd Glendale, AZ	1.0–3.0	1.0	782	$1,374	$1.76	2d	6	1.09mi
4444 W Ocotillo Rd Glendale, AZ	1.0–2.0	1.0–1.5	766	$1,250	$1.63	2d	3	1.11mi
5902 W Royal Palm Rd Glendale, AZ	1.0–2.0	1.0	630	$1,600	$2.54	2d	20	1.31mi
4141 W Glendale Ave Phoenix, AZ	2.0	1.0–2.0	589	$1,626	$2.76	2d	20	1.39mi
6060 W Royal Palm Rd Glendale, AZ	1.0	1.0	543	$1,146	$2.11	2d	4	1.40mi
6141 N 59th Ave Glendale, AZ	1.0–2.0	1.0–2.0	796	$1,300	$1.63	2d	1	1.41mi
5926 W Rose Ln Unit A Glendale, AZ	2.0	1.0	750	$1,435	$1.91	2d	1	1.44mi
8450 N 59th Ave Glendale, AZ	1.0–3.0	1.0–2.0	919	$1,824	$1.99	5d	1	1.46mi
8605 N 59th Ave Unit 2023 Glendale, AZ	1.0	1.0	650	$1,150	$1.77	2d	1	1.47mi
6105 N 59th Ave Glendale, AZ	1.0	1.0	475	$899	$1.89	2d	1	1.47mi
6043 W Laurie Ln Apt 4 Glendale, AZ	1.0	1.0	675	$1,050	$1.56	12d	1	1.47mi
6049 W Laurie Ln Unit 4 Glendale, AZ	1.0	1.0	675	$1,100	$1.63	10d	1	1.49mi
6049 W Laurie Ln Unit 5 Glendale, AZ	2.0	1.0	750	$1,210	$1.61	2d	1	1.49mi
6049 W Laurie Ln Unit 7 Glendale, AZ	1.0	1.0	650	$1,050	$1.62	2d	1	1.49mi
8605 N 59th Ave Unit 2027 Glendale, AZ	1.0	1.0	650	$1,150	$1.77	8d	1	1.49mi
5947 W Rose Ln Unit 5927-09 Glendale, AZ	1.0	1.0	600	$1,030	$1.72	2d	1	1.49mi
5947 W Rose Ln Unit 5947-17 Glendale, AZ	2.0	1.0	750	$1,275	$1.70	17d	1	1.49mi
5201 W Olive Ave Glendale, AZ	1.0–3.0	1.0–2.0	981	$2,072	$2.11	2d	19	1.50mi

Listing history 28 events

1. 2026-06-18
   days on market $28,400 Active 91 DOM
2. 2026-06-17
   days on market $28,400 Active 90 DOM
3. 2026-06-16
   days on market $28,400 Active 89 DOM
4. 2026-06-15
   days on market $28,400 Active 88 DOM
5. 2026-06-13
   days on market $28,400 Active 86 DOM
6. 2026-06-13
   days on market $28,400 Active 85 DOM
7. 2026-06-09
   days on market $28,400 Active 82 DOM
8. 2026-06-08
   days on market $28,400 Active 81 DOM
9. 2026-06-07
   days on market $28,400 Active 80 DOM
10. 2026-06-04
    days on market $28,400 Active 77 DOM
11. 2026-06-03
    days on market $28,400 Active 76 DOM
12. 2026-06-02
    days on market $28,400 Active 75 DOM
13. 2026-06-01
    days on market $28,400 Active 74 DOM
14. 2026-05-31
    days on market $28,400 Active 73 DOM
15. 2026-05-21
    price $28,400
16. 2026-05-05
    price $28,900
17. 2026-04-10
    price $29,400
18. 2026-03-19
    listed $29,900 Active
19. 2026-02-13
    historical
20. 2026-01-17
    price $30,000
21. 2025-10-06
    price $32,000
22. 2025-08-30
    listed $33,000 Active
23. 2021-12-06
    historical
24. 2021-11-01
    listed $33,000 Active
25. 2021-09-30
    historical
26. 2021-08-13
    price $33,000
27. 2021-07-28
    price $44,000
28. 2021-06-26
    listed $49,900 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥112°F today · 17 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: $13,885
• − Mortgage interest: −$1,591
• − Property taxes: −$426
• − Insurance: −$142
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$826
• Taxable income: $8,678
• Est. tax owed @ 24.0%: −$2,083
• After-tax cash flow: $6,531/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: Glendale Union High School District (4285)
• NCES district ID: 0403450
• Math proficiency: 23% ▼ -38.00%
• Reading proficiency: 31% ▼ -19.00%
• Median HH income: $40,846
• Composite: 22.81/100
• National rank: #8020
• State rank: #130 of 249 in AZ

Livability — Glendale

• Score: 76/100
• State rank: #12
• US rank: #3235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 294,586
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 68,178
• Household income: $53,827
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 3741.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 37% White 22% Black 8% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 57% Cuban 1%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 26% · Canada, Vietnam, Philippines
• Languages at home: 46% English-only · Spanish 48% Arabic 1% Other Indo-European 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: ▼ -50.49%
• Current HPI: 427.3069
• Rent YoY: ▼ -2.98%
• 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

-43.1% since first listed

14 events — show timeline

• 2026-05-21 Price Changed $28,400 ARMLS
• 2026-05-05 Price Changed $28,900 ARMLS
• 2026-04-10 Price Changed $29,400 ARMLS
• 2026-03-19 Listed $29,900 ARMLS
• 2026-02-13 Listing Removed — ARMLS
• 2026-01-17 Price Changed $30,000 ARMLS
• 2025-10-06 Price Changed $32,000 ARMLS
• 2025-08-30 Listed $33,000 ARMLS
• 2021-12-06 Listing Removed — ARMLS
• 2021-11-01 Listed $33,000 ARMLS
• 2021-09-30 Listing Removed — ARMLS
• 2021-08-13 Price Changed $33,000 ARMLS
• 2021-07-28 Price Changed $44,000 ARMLS
• 2021-06-26 Listed $49,900 ARMLS