105 N Delaware Dr #21 · Apache Junction, AZ 85120

$74,500

2 bd · 1.0 ba · 648 sqft · Manufactured · 10 Days on market

Built 2022 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to have a newer home. This is a 2022 Cavco sigle wide 2 bedroom, 1 bath with shed. Aproxo, ate; u 14' x 48' with carport for 2 vehicles. Enjoy nice well kept interior area. Seller is willing to include the refrigerator, washer & dryer units. Has yard and fenced area for pets and vistirs to play outside.

Key facts

• Fenced area
• Well kept interior
• Newer home

Tags

• NEWER HOME
• WELL KEPT INTERIOR
• FENCED AREA

Property features AI

Finance

• Other: Directions: North from Apache Trail on Delaware; property just past the light on the right. Turn right into 2nd driveway. Home on right.
• Financial info: Current financing is non-assumable; Annual taxes listed
• HOA & community: Land lease: $761 monthly; No association fees; Community pool; Pickleball courts; Near bus stop; Coin-operated laundry

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: Public sewer; Private water company
• Home design: Manufactured / Mobile home; Leasehold ownership
• Construction: Wood frame construction; Painted exterior; Composition roof; Building area per assessor
• Exterior features: Private yard; Chain-link fencing; Shed(s); Gravel/stone front; Grass in back; Private maintained road; Asphalt road surface

Interior

• Kitchen: Refrigerator; Dishwasher; Disposal; Built-in microwave; Laminate countertops
• Bedrooms: 2 possible bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air; Ceiling fan(s)
• Interior features: High-speed internet; Breakfast bar; Kitchen island; Full bath in primary bedroom; Dual-pane windows
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $74k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Cap rate 13.7% vs local median 3.5% 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: Four Peaks Elementary School (math 12% / reading 17%, grade F, #898 of 1,109 statewide, top 83%, 498 students, 73% FRL); 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) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents falling (-3.5%/yr); 468 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $515 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.65% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.41%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $43,416
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
453 N Saguaro Dr	0.38mi	2/1.0	673 (+4%)	9mo	$129,000	$192	68
2325 W Virginia St Unit V34	0.13mi	2/1.5	700 (+8%)	19mo	$47,000	$67	63
2570 W Scenic St	0.23mi	2/1.0	724 (+12%)	12mo	$220,000	$304	60
2451 W Cholla St	0.34mi	2/1.0	562 (-13%)	8mo	$120,000	$214	55
1560 W Superstition Blvd #8	0.62mi	2/1.0	600 (-7%)	9mo	$24,500	$41	51
929 N Delaware Dr #25	0.48mi	1/1.0 (-1)	730 (+13%)	8mo	$27,000	$37	45
694 S Desert View Dr	0.58mi	2/2.0	741 (+14%)	1mo	$290,000	$391	44
2650 W Superstition Blvd #36	0.49mi	1/1.0 (-1)	600 (-7%)	22mo	$29,000	$48	42
929 N Delaware Dr #15	0.48mi	2/1.0	720 (+11%)	23mo	$21,000	$29	40
351 N Meridian Rd #62	0.49mi	2/1.0	728 (+12%)	22mo	$22,000	$30	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: 16.8%
• Equity multiple: 1.65×
• Total profit: $13,572
• Equity at exit: $11,108

10-year hold

• IRR: 23.0%
• Equity multiple: 2.71×
• Total profit: $35,581
• Equity at exit: $6,441

Cash invested: $20,860 (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 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 468
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$391
• Tax est. 1.5%: −$93 /mo · $1,118/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $459

Break-even live

Break-even rent $652

Max offer price $74,500

Occupancy floor 58%

Sensitivity live

Price	-10% $511	-5% $485	+0% $459	+5% $433	+10% $408
Rent	-10% $362	-5% $410	+0% $459	+5% $508	+10% $556
Rate	-1.0pp $497	-0.5pp $478	base $459	+0.5pp $440	+1.0pp $420

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	21d	1	0.27mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	25d	1	0.27mi
561 S Meridian Rd Unit 1 Apache Junction, AZ	2.0	1.0	700	$1,099	$1.57	26d	1	0.72mi
960 S Mara Dr Unit 1 Apache Junction, AZ	2.0	1.0	682	$1,450	$2.13	14d	1	0.80mi

Listing history 7 events

1. 2026-06-21
   days on market $74,500 Active 10 DOM
2. 2026-06-18
   days on market $74,500 Active 7 DOM
3. 2026-06-17
   days on market $74,500 Active 6 DOM
4. 2026-06-16
   days on market $74,500 Active 5 DOM
5. 2026-06-15
   days on market $74,500 Active 4 DOM
6. 2026-06-13
   remarks 323-char remark
7. 2026-06-13
   listed $74,500 Active 2 DOM

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 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

Taxation est. · year 1

• Rental income: $14,794
• − Mortgage interest: −$4,173
• − Property taxes: −$1,118
• − Insurance: −$372
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$2,167
• Taxable income: $4,596
• Est. tax owed @ 24.0%: −$1,103
• After-tax cash flow: $4,406/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 · 4 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with minimal repairs needed. It offers a good opportunity for an investor to make cosmetic upgrades that will enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping the front yard — Improves curb appeal and adds value for both resale and rental.
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and attracts more buyers.
• Resale Upgrading the bathroom fixtures — Modernizes the bathroom and attracts more buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping the front yard — Improves curb appeal and adds value for both resale and rental. ↑
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and attracts more buyers. ↑
• Resale Upgrading the bathroom fixtures — Modernizes the bathroom and attracts more buyers. ↑

ⓘ 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: 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

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

• Census place: Apache Junction, AZ
• County: Pinal County · 399,947 people
• City population: 56,611
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 31,191
• Household income: $57,786
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 686.0

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

Price history

1 event — show timeline

• 2026-06-11 Listed $74,500 ARMLS