2727 E University Dr #120 · Tempe, AZ 85288

$115,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured · 91 Days on market

Built 1971 Good condition

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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
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Appreciation +2.7/10.0
• Schools +2.0/10.0

Listing remarks MLS

Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

Key facts

• New white cabinets
• Open concept kitchen
• Large island

Tags

• OPEN CONCEPT KITCHEN
• LARGE ISLAND
• GRANITE COUNTERTOPS
• NEW WHITE CABINETS
• MODERN FIXTURES
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• Other: Building area reported by owner
• HOA & community: Land lease community ($1,065 monthly); Association covers grounds maintenance and street maintenance; Community pool; Community fitness center; Community media room; Near light rail and bus stops

Exterior

• Parking: 2 covered parking spaces; Assigned parking; 2 carport spaces
• Security: Gated community
• Utilities: City water; Public sewer (connected)
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Wood frame construction; Painted exterior; Composition roof
• Exterior features: Desert front yard; Gravel/stone front and back; No fencing

Interior

• Kitchen: Refrigerator; Dishwasher; Garbage disposal; Kitchen island
• Bedrooms: 2 possible bedrooms
• Flooring: Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: High-speed internet; Kitchen island; Full bath in primary bedroom; Storage
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.4% in Tempe — 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 78/100 on livability (#10 in AZ, #2,527 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, cost of living C-, health & safety D.
• Tempe School District (4258) (urban): math 17% / reading 29% proficiency, ranked #170 of 249 in AZ (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.7%/yr); 105 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $795 of loan paydown is wiped out by about $3k 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 + 1.7% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago 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.
• Current owner paid $42k; list at $115k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (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 1971 — 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: 1.48% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $74,520
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2340 E University Dr #126	0.60mi	2/2.0	1,152 (+7%)	12mo	$49,900	$43	50
2340 E University Dr #184	0.48mi	2/1.5	980 (-9%)	23mo	$68,000	$69	41

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 · 1.66% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.44×
• Total profit: $14,130
• Equity at exit: $17,147

10-year hold

• IRR: 19.2%
• Equity multiple: 2.50×
• Total profit: $48,437
• Equity at exit: $9,943

Cash invested: $32,200 (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 85288

• Home prices YoY: -0.7%
• Rents YoY: 1.7%
• Active inventory: 105
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,702 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $550

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 63%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2694 E Oakleaf Dr Tempe, AZ	2.0	1.0	780	$1,175	$1.51	1d	1	0.08mi
2693 E Silk Oak Dr Unit 2693 Tempe, AZ	2.0	1.0	951	$1,400	$1.47	21d	1	0.11mi
2354 W University Dr Mesa, AZ	2.0	1.0–2.0	655	$1,659	$2.53	1d	30	0.24mi
2605 E Lemon St Tempe, AZ	3.0	2.0	1176	$1,999	$1.70	1d	1	0.26mi
540 N May #1101 Mesa, AZ	2.0	1.0	855	$1,399	$1.64	1d	1	0.35mi
540 N May #3106 Mesa, AZ	3.0	2.0	1306	$1,540	$1.18	1d	1	0.35mi
540 N May #3122 Mesa, AZ	3.0	2.0	1306	$1,700	$1.30	1d	1	0.37mi
555 N May Mesa, AZ	2.0	2.0	963	$1,695	$1.76	17d	1	0.38mi
540 N May #3119 Mesa, AZ	2.0	2.0	1029	$1,395	$1.36	3d	1	0.39mi
602 N May #21 Mesa, AZ	1.0	1.0	713	$1,350	$1.89	1d	1	0.39mi
555 N May #23 Mesa, AZ	2.0	2.0	963	$1,752	$1.82	16d	1	0.41mi
601 N May #5 Mesa, AZ	2.0	1.0	805	$1,349	$1.68	1d	1	0.42mi
546 S Allred Dr Tempe, AZ	2.0	2.0	987	$1,550	$1.57	16d	1	0.42mi
540 N May #2145 Mesa, AZ	2.0	2.0	988	$1,495	$1.51	1d	1	0.44mi
2450 E 5th Pl Tempe, AZ	2.0	2.0	987	$1,650	$1.67	3d	1	0.44mi
633 N May #31 Mesa, AZ	3.0	2.0	936	$1,600	$1.71	21d	1	0.52mi
711 N Evergreen Rd Mesa, AZ	1.0–2.0	1.0–2.0	1017	$2,038	$2.00	1d	11	0.55mi
712 N Santa Barbara #1 Mesa, AZ	3.0	2.0	1363	$2,145	$1.57	1d	1	0.58mi
2320 E Apache Blvd Tempe, AZ	1.0–3.0	1.0–2.0	826	$1,185	$1.43	1d	18	0.61mi
2401 E Rio Salado Pkwy Tempe, AZ	2.0–3.0	2.0–3.0	1234	$1,895	$1.54	24d	6	0.69mi
2401 E Rio Salado Pkwy Tempe, AZ	2.0–4.0	2.0–3.5	1470	$1,800	$1.22	1d	4	0.69mi
2131 E 10th St #3 Tempe, AZ	3.0	2.0	1036	$1,950	$1.88	2d	1	0.75mi
2325 E Rio Salado Pkwy Tempe, AZ	2.0	1.0–2.0	901	$2,072	$2.30	1d	12	0.77mi
2123 E Kirkland Ln #2 Tempe, AZ	3.0	2.0	1036	$3,200	$3.09	2d	1	0.79mi
2141 E University Dr Tempe, AZ	1.0–3.0	1.0	825	$1,440	$1.74	1d	6	0.85mi
2157 E Apache Blvd Tempe, AZ	2.0	1.0–2.5	899	$2,225	$2.47	1d	35	0.88mi
2148 E Apache Blvd Tempe, AZ	1.0–2.0	1.0–2.0	755	$1,515	$2.01	1d	4	0.88mi
952 E Tempe Ct Tempe, AZ	2.0	1.0	700	$1,450	$2.07	16d	1	0.89mi
2125 E Apache Blvd Tempe, AZ	2.0	1.0–2.0	818	$2,017	$2.47	1d	21	0.97mi
850 S River Dr Rm 2 Tempe, AZ	3.0	3.0	1130	$800	$0.71	1d	1	0.98mi
850 S River Dr #2085 Tempe, AZ	2.0	2.0	1130	$1,599	$1.42	1d	1	0.98mi
1532 S Price Rd Tempe, AZ	1.0–2.0	1.0	675	$1,300	$1.93	1d	9	0.99mi
2063 E Lemon St Unit 3004 Tempe, AZ	2.0	2.0	1000	$1,795	$1.79	1d	1	1.04mi
2063 E Lemon St Unit 2004 Tempe, AZ	2.0	2.0	1000	$1,695	$1.70	1d	1	1.04mi
1750 S Price Rd Tempe, AZ	2.0	1.0–2.0	732	$1,399	$1.91	1d	12	1.06mi
98 S River Dr Tempe, AZ	3.0	1.0–3.0	1090	$3,524	$3.23	1d	25	1.15mi
2058 E Apache Blvd Tempe, AZ	1.0–3.0	1.0–3.0	1028	$2,276	$2.21	1d	19	1.15mi
2025 E Apache Blvd Tempe, AZ	1.0–2.0	1.0–2.0	810	$2,293	$2.83	1d	22	1.18mi
1978 E Don Carlos Tempe, AZ	2.0	1.0	700	$1,195	$1.71	2d	1	1.20mi
2134 E Broadway Rd Tempe, AZ	2.0	2.0	1083	$1,488	$1.37	16d	3	1.22mi

Listing history 22 events

1. 2026-06-18
   days on market $115,000 Active 91 DOM
2. 2026-06-17
   days on market $115,000 Active 90 DOM
3. 2026-06-16
   days on market $115,000 Active 89 DOM
4. 2026-06-15
   days on market $115,000 Active 88 DOM
5. 2026-06-13
   days on market $115,000 Active 86 DOM
6. 2026-06-13
   days on market $115,000 Active 85 DOM
7. 2026-06-09
   days on market $115,000 Active 82 DOM
8. 2026-06-08
   days on market $115,000 Active 81 DOM
9. 2026-06-07
   days on market $115,000 Active 80 DOM
10. 2026-06-04
    days on market $115,000 Active 77 DOM
11. 2026-06-03
    days on market $115,000 Active 76 DOM
12. 2026-06-02
    days on market $115,000 Active 75 DOM
13. 2026-06-01
    days on market $115,000 Active 74 DOM
14. 2026-05-31
    days on market $115,000 Active 73 DOM
15. 2026-03-19
    listed $115,000 Active
16. 2020-11-17
    soldstatus $42,500 Closed 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

17. 2020-10-21
    status Pending 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

18. 2020-10-13
    price $42,500 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

19. 2020-09-21
    price $49,900 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

20. 2020-09-08
    price $52,500 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

21. 2020-09-04
    price $55,500 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

22. 2020-08-25
    listed $59,500 Active 800-char remark

    Show marketing remark (800 chars)

    Do not miss out on this very clean and move-in ready 2 bedroom / 2 bathroom home in a centrally located 55+ community. Pride of ownership throughout with many upgrades in the past 5 years. Kitchen and Bathroom remodels, home repainted in and out from floor to ceiling inside and full exterior paint on the outside. AC unit replaced in 2015. Carport awning and shades (front & back) replaced. Dedicated Laundry space with full size washer / dryer inside the home. Two patio areas provide plenty of outdoor living space and 2 Car carport space. Community amenities are brand new and millions spent on community enhancements this year. New Clubhouse, Pool, Shuffleboard, Horseshoe Pit, Dog Park and more. Community is offering the Buyer 3 months of waived Land Lease fees for new residents.

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,420
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,634
• − Management: −$1,634
• − Depreciation: −$3,345
• Taxable income: $5,066
• Est. tax owed @ 24.0%: −$1,216
• After-tax cash flow: $5,379/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This beautifully updated mobile home is move-in ready with modern upgrades and a fresh exterior. It offers a good condition score and is ready for a new owner.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both exterior paint — refreshes the home's appearance
• Rental ceiling fans — improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both exterior paint — refreshes the home's appearance ↑
• Rental ceiling fans — improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Tempe School District (4258)
• NCES district ID: 0408310
• Math proficiency: 17% ▼ -19.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $43,112
• Composite: 19.7/100
• National rank: #8721
• State rank: #170 of 249 in AZ

Livability — Tempe

• Score: 78/100
• State rank: #10
• US rank: #2527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tempe, AZ
• County: Maricopa County · 4,537,380 people
• City population: 193,337
• Metro: Phoenix-Mesa-Chandler, AZ

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▼ -4.56%
• Current HPI: 693.23
• Rent YoY: ▲ 1.66%
• 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

+93.3% since first listed

8 events — show timeline

• 2026-03-19 Listed $115,000 ARMLS
• 2020-11-17 Sold (MLS) $42,500 ARMLS
• 2020-10-21 Pending — ARMLS
• 2020-10-13 Price Changed $42,500 ARMLS
• 2020-09-21 Price Changed $49,900 ARMLS
• 2020-09-08 Price Changed $52,500 ARMLS
• 2020-09-04 Price Changed $55,500 ARMLS
• 2020-08-25 Listed $59,500 ARMLS