3400 S Ironwood Dr #359 · Apache Junction, AZ
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 5/10 · Moderate
- Est. fire insurance / yr
- $610 – $1,132
Heat risk 9/10 · Severe
- Hot days now (above 111°F)
- 5 days/yr
- Hot days in 30 yrs
- 14 days/yr
Wind risk 1/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 3/10 · Minor
- Unhealthy air days now
- 2 days/yr
- Unhealthy air days in 30 yrs
- 3 days/yr
Risk factors via First Street. Map © Google.
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 +22.5/30.0
- ARV discount +15.0/15.0
- 1% rule +7.5/10.0
- DSCR +7.5/10.0
- Livability +3.3/5.0
- Condition / age +2.8/5.0
- Appreciation +2.5/10.0
- Schools +1.7/10.0
- Rent growth +1.6/5.0
- Manufactured-home adj. -5.2
$69,500
3400 S Ironwood Dr #359 · Apache Junction, AZ 85120
2 bd · 2.0 ba · 1,568 sqft · Manufactured
· 106 Days on market
Manufactured home
55+ age-restricted
Built 1991
$44/sqft
· 26% below area
Est $94k · 26% under
↓ 7% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Nestled in a vibrant 55+ community, this beautifully maintained manufactured home blends comfort, convenience, and charm in all the right ways. Whether you love hosting guests or simply enjoy having extra space to unwind, this home offers two full master bedrooms, each designed for privacy and relaxation. Both suites feature generous layouts and easy access to their own bathrooms--perfect for comfort and flexibility. You'll enjoy a bright, open living area that flows effortlessly into the kitchen and dining spaces.
Key facts
- Open living area
- Two storage sheds
- 2 parking spots
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath manufactured listed at $70k. Condition is rated average.
Deal economics
- At list price, monthly cash flow is $676 ($8k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($1k rent vs $70k).
- Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
- Cap rate 18.0% vs local median 3.0% in Apache Junction — 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 66/100 on livability (#70 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
- Apache Junction Unified District (4443) (suburban): math 15% / reading 20% proficiency, ranked #195 of 249 in AZ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
- Zoned schools: Cactus Canyon Junior High (math 14% / reading 19%, grade F, #151 of 218 statewide, top 70%, 702 students, 50% FRL); Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL).
- Market conditions: Rents falling (-3.5%/yr); 772 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 54d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
- This rent runs 30% of the median local income ($58k/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 $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
- At projected returns (-3.0% appreciation + 0.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
Negotiation context
- It's been on market 106 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
- 2 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Risks & watch-outs
- Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer
$63,245
(9.0% below list)
Questions for the listing agent
- It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- Crime grade is D 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?
- 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.
- 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.
- 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
- 2.11% ✓
- Cap rate
- 17.97%
- Cash-on-cash
- 41.71%
- DSCR
- 2.86
- GRM
- 4.0
CMA / ARV
- ARV (median comp)
- $94,450
- List price
- $69,500
- Delta
- -26.42%
- Verdict
- UNDERPRICED
- Comps
- 7 within 1.0 mi
Show comp detail 10 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 2208 W Baseline Ave #102 | 0.37mi | 3/2.0 (+1) | 1,568 (0%) | 2mo | $45,000 | $29 | 76 |
| 2208 W Baseline Ave #76 | 0.37mi | 2/2.0 | 1,450 (-8%) | 2mo | $94,450 | $65 | 68 |
| 2208 W Baseline Ave #146 | 0.47mi | 2/2.0 | 1,568 (0%) | 16mo | $125,500 | $80 | 64 |
| 3700 S Ironwood Dr Lot 134 | 0.24mi | 3/2.0 (+1) | 1,484 (-5%) | 13mo | $40,000 | $27 | 64 |
| 2208 W Baseline Ave #153 | 0.47mi | 3/2.0 (+1) | 1,568 (0%) | 19mo | $115,000 | $73 | 57 |
| 2208 W Baseline Ave #94 | 0.47mi | 2/2.0 | 1,680 (+7%) | 12mo | $122,500 | $73 | 56 |
| 2208 W Baseline Ave #190 | 0.47mi | 2/2.0 | 1,400 (-11%) | 15mo | $105,000 | $75 | 48 |
| 2208 W Baseline Ave #21 | 0.47mi | 3/2.0 (+1) | 1,680 (+7%) | 18mo | $154,900 | $92 | 46 |
| 2208 W Baseline Ave #87 | 0.47mi | 2/2.0 | 1,344 (-14%) | 12mo | $105,000 | $78 | 45 |
| 2208 W Baseline Ave | 0.39mi | 2/2.0 | 1,344 (-14%) | 24mo | $110,000 | $82 | 38 |
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
- 34.9%
- Equity multiple
- 2.42×
- Total profit
- $27,545
- Equity at exit
- $10,363
10-year hold
- IRR
- 40.1%
- Equity multiple
- 4.24×
- Total profit
- $62,960
- Equity at exit
- $6,009
Cash invested: $19,460 (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.
Buyer's market
Market conditions
within 1.0 mi — comparable homes for sale
Active competition Active MLS
- For sale now
- 11 active · 4 under contract
- Months of supply
- 13.2 mo (8%/mo absorbed)
- Median asking
- $125,000 ($91/sqft)
- Median days on market
- 80 d
- This list price
- 9% of active listings are priced below it
- ARV vs active asking
- -33.9% vs current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 85120
- Home prices YoY
- -29.0%
- Rents YoY
- -3.5%
- Active inventory
- 772
- Price-to-rent
- 4.0×
Monthly cashflow live
↻
- Estimated rent
- $1,464 high interval (Pro) →
- Mortgage (P&I)
- −$364
- Tax est. 1.5%
- −$87 /mo · $1,042/yr
- Insurance
- −$29
- HOA
- −$0
- Lot rent leased land?
- −$0
- Vacancy / Maint / Mgmt
- −$307
- Net cashflow
- $676
Break-even live
Break-even rent
$608
Max offer price
$69,500
Occupancy floor
49%
Sensitivity live
| Price | -10% $724 | -5% $700 | +0% $676 | +5% $652 | +10% $628 |
|---|---|---|---|---|---|
| Rent | -10% $561 | -5% $618 | +0% $676 | +5% $734 | +10% $792 |
| Rate | -1.0pp $711 | -0.5pp $694 | base $676 | +0.5pp $658 | +1.0pp $640 |
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
- $17,375
- Closing costs
- $2,085
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 22 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 2611 W Gypsum Ave Apache Junction, AZ | 2.0 | 2.5 | 2001 | $1,899 | $0.95 | 67d | 1 | 0.54mi |
| 3454 S Warner Dr Apache Junction, AZ | 3.0 | 2.0 | 1300 | $2,500 | $1.92 | 120d | 1 | 0.62mi |
| 1927 W 23rd Ave Apache Junction, AZ | 3.0 | 2.5 | 1723 | $2,500 | $1.45 | 74d | 1 | 0.79mi |
| 1866 W 20th Ave Apache Junction, AZ | 3.0 | 2.0 | 1368 | $1,885 | $1.38 | 19d | 1 | 0.91mi |
| 2043 S Thunderbird Dr Apache Junction, AZ | 3.0 | 2.0 | 1348 | $1,925 | $1.43 | 120d | 1 | 0.91mi |
| 2065 W 20th Ave Apache Junction, AZ | 3.0 | 2.0 | 1142 | $1,775 | $1.55 | 68d | 1 | 0.93mi |
| 2065 W 20th Ave Apache Junction, AZ | 3.0 | 2.0 | 1110 | $1,775 | $1.60 | 74d | 1 | 0.93mi |
| 972 W 21st Ave Apache Junction, AZ | 3.0 | 2.0 | 1464 | $1,900 | $1.30 | 7d | 1 | 0.94mi |
| 2018 S Rennick Dr Apache Junction, AZ | 3.0 | 2.0 | 1524 | $1,900 | $1.25 | 19d | 1 | 1.00mi |
| 1914 S Palo Verde Dr Apache Junction, AZ | 3.0 | 2.0 | 1368 | $1,795 | $1.31 | 32d | 1 | 1.01mi |
| 1153 W Diamond Ave Apache Junction, AZ | 3.0 | 2.0 | 1056 | $1,885 | $1.79 | 46d | 1 | 1.06mi |
| 1719 S Pinto Dr Apache Junction, AZ | 3.0 | 2.0 | 1657 | $1,850 | $1.12 | 46d | 1 | 1.08mi |
| 3000 W Southern Ave Apache Junction, AZ | 1.0–3.0 | 1.0–2.0 | 970 | $1,675 | $1.73 | 0d | 19 | 1.12mi |
| 865 W Mesquite Ave Apache Junction, AZ | 3.0 | 2.0 | 1421 | $2,136 | $1.50 | 61d | 1 | 1.14mi |
| 1890 W 15th Ln Apache Junction, AZ | 2.0 | 2.0 | 1212 | $1,495 | $1.23 | 33d | 1 | 1.21mi |
| 1446 S Palo Verde Dr Unit apache Apache Junction, AZ | 2.0 | 2.0 | 1210 | $1,700 | $1.40 | 120d | 1 | 1.25mi |
| 2101 S Yellow Wood #4 Mesa, AZ | 2.0 | 2.0 | 1081 | $1,699 | $1.57 | 7d | 1 | 1.27mi |
| 2101 S Yellow Wood #45 Mesa, AZ | 2.0 | 2.0 | 1081 | $1,649 | $1.53 | 42d | 1 | 1.27mi |
| 2101 S Yellow Wood #60 Mesa, AZ | 2.0 | 2.0 | 1371 | $2,600 | $1.90 | 84d | 1 | 1.27mi |
| 2101 S Yellow Wood #45 Mesa, AZ | 2.0 | 2.0 | 1081 | $1,649 | $1.53 | 139d | 1 | 1.27mi |
| 935 W 14th Ave Apache Junction, AZ | 3.0 | 2.0 | 1536 | $2,000 | $1.30 | 54d | 1 | 1.36mi |
| 214 W 17th Ave Apache Junction, AZ | 3.0 | 2.0 | 1136 | $1,400 | $1.23 | 32d | 1 | 1.47mi |
Property features AI
Finance
- Other
- Directions available from US 60 to Ironwood Drive; ask guard for directions to the house
- HOA & community
- No association feesMonthly land lease of $875Community amenities include pool, pickleball, lake, tennis courts, and fitness center
Exterior
- Parking
- 2 covered parking spaces2 carport spaces
- Security
- Gated communityGuarded entry
- Utilities
- City waterPublic sewer
- Home design
- Manufactured/mobile homeLeasehold ownershipProperty listed as fixer
- Construction
- Wood sidingWood frame constructionComposition roofBuilding area per builder
- Exterior features
- Shed(s)Gravel/stone front yardGravel/stone backyardHeated spa
Interior
- Kitchen
- Refrigerator
- Bedrooms
- 2 bedrooms (including 2 possible/master bedrooms)
- Flooring
- CarpetLaminate
- Bathrooms
- 2 full bathrooms
- Heating & cooling
- Central airHeating present
- Interior features
- Eat-in kitchenVaulted ceilingsTwo master bathroomsFull bathroom in master bedroom
Listing history 25 events
-
2026-06-30days on market $69,500 Active 106 DOM
-
2026-06-29days on market $69,500 Active 105 DOM
-
2026-06-28days on market $69,500 Active 104 DOM
-
2026-06-27days on market $69,500 Active 103 DOM
-
2026-06-26days on market $69,500 Active 102 DOM
-
2026-06-24days on market $69,500 Active 100 DOM
-
2026-06-22days on market $69,500 Active 98 DOM
-
2026-06-21days on market $69,500 Active 97 DOM
-
2026-06-18days on market $69,500 Active 94 DOM
-
2026-06-17days on market $69,500 Active 93 DOM
-
2026-06-16days on market $69,500 Active 92 DOM
-
2026-06-15days on market $69,500 Active 91 DOM
-
2026-06-13days on market $69,500 Active 89 DOM
-
2026-06-09days on market $69,500 Active 85 DOM
-
2026-06-08days on market $69,500 Active 84 DOM
-
2026-06-07days on market $69,500 Active 83 DOM
-
2026-06-04days on market $69,500 Active 80 DOM
-
2026-06-03days on market $69,500 Active 79 DOM
-
2026-06-02days on market $69,500 Active 78 DOM
-
2026-06-01days on market $69,500 Active 77 DOM
-
2026-05-31days on market $69,500 Active 76 DOM
-
2026-05-13price $69,500
-
2026-05-12status Active
-
2026-05-08historical Under Contract Accepting Backups
-
2026-03-09$75,000 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 (unshaded) · 0% chance over 30 yrs
- Wildfire 5/10 Major
- Heat 9/10 Extreme 5 d/yr ≥111°F today · 14 d/yr by 30 yrs out
- Wind 1/10 Low
- Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $17,569
- − Mortgage interest
- −$3,893
- − Property taxes
- −$1,042
- − Insurance
- −$348
- − Repairs & maintenance
- −$1,406
- − Management
- −$1,406
- − Depreciation
- −$2,022
- Taxable income
- $7,453
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$1,789
- After-tax cash flow
- $6,327/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
55/100
Cosmetic rehab
Est. rehab $7,840–$23,520 screening
This 55+ manufactured home is in average condition with some cosmetic repairs and maintenance needed. Upgrades to the interior and HVAC system would significantly increase its value.
Repairs flagged
- Minor exterior siding — light discoloration
- Minor interior walls — some peeling
- Minor landscaping — some shrubs need trimming
Value-add opportunities
- Both paint interior walls — enhances curb appeal and interior aesthetics ↑
- Both replace carpet with hardwood flooring — increases both resale and rental value ↑
- Both update bathrooms with modern fixtures — enhances both resale and rental value ↑
- Both upgrade HVAC system — improves comfort and energy efficiency ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
F
Composite school gradezoned avg 17/100
Zoned Schools
Elementary
Desert Vista Elementary School
F
AZ #729/1,109
Nat'l #33,158/41,679
Middle
Cactus Canyon Junior High
F
AZ #151/218
Nat'l #12,406/14,009
High
Apache Junction High School
F
AZ #267/381
Nat'l #15,534/17,239
Schools (NCES district)
- District
- Apache Junction Unified District (4443)
- NCES district ID
- 0400790
- Math proficiency
- 15% ▼ -17.00%
- Reading proficiency
- 20% ▼ -13.00%
- Median HH income
- $44,930
- Composite
- 15.34/100
- National rank
- #9325
- State rank
- #195 of 249 in AZ
C
Composite livability gradescore 66/100
Livability — Apache Junction
- Score
- 66/100
- State rank
- #70
- US rank
- #11242
Category grades
Amenities F
Commute F
Cost of living A+
Crime D+
Employment D-
Housing A+
Health & safety F
User ratings A+
Schools grade is shown separately in the Schools card above.
Census & demographics
- County
- Pinal County · 437,574 people
- City population
- 56,611
- Metro
- Phoenix-Mesa-Chandler, AZ
- Population (ZIP)
- 31,191
- Household income
- $57,786
- Rent vs Own
- Severe rent burden
- 14% of renters
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
- Predominantly White (77%)
- Race & ethnicity
- White 77% Hispanic / Latino 16% Two or more races 10% Asian 1%
- Hispanic origin (detail)
- Mexican 13%
- Common ancestry
- Romanian 3% Lithuanian 3% Portuguese 3%
- Foreign-born
- 7% · Canada
- Languages at home
- 89% English-only · Spanish 8% Tagalog/Filipino 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
- ▼ -128.31%
- Current HPI
- 313.4666
- Rent YoY
- ▼ -3.50%
- 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 |
|
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Price history
-7.3% since first listed4 events — show timeline
- 2026-05-13 Price Changed $69,500 ARMLS
- 2026-05-12 Relisted — ARMLS
- 2026-05-08 Contingent — ARMLS
- 2026-03-09 Listed $75,000 ARMLS
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…