6942 W Olive Ave #88 · Peoria, AZ 85345

$49,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 101 Days on market

Built 1980 Fair condition $36/sqft · 32% below area Est $72k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ON LEASED LAND: Dont miss out on this 2 bedroom 2 bath manufactured home with a den. Very spacious Kitchen. Roof just replaced in February, new hot water heater and washer. All appliances convey. Located in an age restricted gated resort style community. Community features pool, spa, pickleball, billiards, work out facility. Lots of activities.

Key facts

• Gated community
• Spa
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• NEW HOT WATER HEATER
• NEW WASHER
• GATED COMMUNITY
• POOL
• SPA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $49k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 32.5% vs local median 3.3% in Peoria — 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 (#14 in AZ, #3,603 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A, employment A; Watch: cost of living C-, amenities D, health & safety F.
• Peoria Unified School District (4237) (suburban): math 36% / reading 42% proficiency, ranked #64 of 249 in AZ (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 333 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/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 $339 of loan paydown is wiped out by about $1k 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 + 0.6% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 3.64% ✓
• Cap rate: 32.49%
• Cash-on-cash: 93.55%
• DSCR: 5.16
• GRM: 2.3

CMA / ARV

• ARV (median comp): $72,000
• List price: $49,000
• Delta: -31.94%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6942 W Olive Ave #45	0.00mi	2/2.0	1,152 (-14%)	4mo	$30,000	$26	73
6626 W Carol Ave	0.38mi	2/2.0	1,344 (0%)	11mo	$180,500	$134	73
6612 W Mission Ln	0.38mi	2/2.0	1,450 (+8%)	8mo	$160,000	$110	62
6960 W Peoria Ave #237	0.65mi	2/2.0	1,344 (0%)	13mo	$80,000	$60	59
6960 W Peoria Ave #15	0.65mi	3/1.5 (+1)	1,392 (+4%)	0mo	$40,000	$29	56
6538 W Eva St	0.43mi	3/2.0 (+1)	1,249 (-7%)	12mo	$245,000	$196	53
8601 N 71st Ave #89	0.53mi	3/2.0 (+1)	1,456 (+8%)	11mo	$145,000	$100	47
6533 W Carol Ave	0.45mi	3/2.0 (+1)	1,464 (+9%)	15mo	$189,000	$129	46
6960 W Peoria Ave #125	0.65mi	2/2.0	1,456 (+8%)	15mo	$30,000	$21	43
8601 N 71st Ave #17	0.53mi	3/2.0 (+1)	1,474 (+10%)	14mo	$150,000	$102	43
6960 W Peoria Ave #197	0.65mi	2/2.0	1,520 (+13%)	14mo	$72,000	$47	36
6960 W Peoria Ave #231	0.65mi	3/2.0 (+1)	1,536 (+14%)	14mo	$56,700	$37	29

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 · 0.62% rent growth · sell at horizon

5-year hold

• IRR: 91.7%
• Equity multiple: 5.08×
• Total profit: $56,039
• Equity at exit: $7,306

10-year hold

• IRR: 94.1%
• Equity multiple: 9.77×
• Total profit: $120,311
• Equity at exit: $4,237

Cash invested: $13,720 (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 85345

• Home prices YoY: -19.8%
• Rents YoY: 0.6%
• Active inventory: 333
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $1,070

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,103	-5% $1,087	+0% $1,070	+5% $1,053	+10% $1,036
Rent	-10% $929	-5% $999	+0% $1,070	+5% $1,140	+10% $1,210
Rate	-1.0pp $1,094	-0.5pp $1,082	base $1,070	+0.5pp $1,057	+1.0pp $1,044

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7040 W Olive Ave #12 Peoria, AZ	2.0	2.0	900	$1,445	$1.61	25d	1	0.07mi
7040 W Olive Ave Peoria, AZ	2.0	2.0	953	$1,465	$1.54	6d	1	0.15mi
9121 N 68th Ave Peoria, AZ	2.0	2.0	1126	$1,699	$1.51	44d	1	0.16mi
7056 W Eva St Peoria, AZ	3.0	2.0	1257	$1,985	$1.58	0d	1	0.17mi
9160 N 67th Ave Unit 212 Peoria, AZ	2.0	2.0	992	$1,680	$1.69	25d	1	0.23mi
9350 N 67th Ave Glendale, AZ	2.0	2.0	970	$1,385	$1.43	0d	1	0.25mi
9350 N 67th Ave Glendale, AZ	2.0	2.0	970	$1,429	$1.47	44d	1	0.25mi
9350 N 67th Ave Glendale, AZ	2.0	2.0	970	$1,385	$1.43	14d	1	0.25mi
9350 N 67th Ave Unit B2 Glendale, AZ	2.0	2.0	970	$1,250	$1.29	44d	1	0.25mi
9160 N 67th Ave Peoria, AZ	2.0	2.0	1100	$2,065	$1.88	44d	6	0.27mi
7027 W Palo Verde Ave Peoria, AZ	3.0	2.0	1500	$1,999	$1.33	44d	1	0.28mi
7102 W Carol Ave Peoria, AZ	3.0	2.0	1288	$1,945	$1.51	0d	1	0.29mi
7102 W Palo Verde Ave Peoria, AZ	3.0	2.0	1360	$2,000	$1.47	44d	1	0.36mi
8772 N 67th Ave Glendale, AZ	1.0–3.0	1.0–2.0	937	$1,654	$1.77	2d	24	0.43mi
9819 N 67th Dr Peoria, AZ	3.0	2.0	1648	$2,500	$1.52	25d	1	0.49mi
6746 W Ruth Ave Peoria, AZ	2.0	1.5	1120	$1,950	$1.74	0d	1	0.49mi
8938 N 64th Ln Glendale, AZ	3.0	2.0	1256	$2,095	$1.67	2d	1	0.56mi
6421 W Carol Ave Glendale, AZ	3.0	2.0	1243	$1,799	$1.45	19d	1	0.62mi
10013 N 66th Ln Glendale, AZ	3.0	2.0	1063	$1,999	$1.88	25d	1	0.63mi
9459 N 64th Dr Glendale, AZ	3.0	2.0	1531	$2,581	$1.69	0d	1	0.63mi
9459 N 64th Dr Glendale, AZ	3.0	2.0	1531	$2,600	$1.70	16d	1	0.63mi
9914 N 73rd Ave Peoria, AZ	3.0	1.5	1312	$1,716	$1.31	44d	1	0.64mi
6353 W Mission Ln Glendale, AZ	3.0	2.0	1780	$2,200	$1.24	44d	1	0.64mi
6767 W Butler Dr Glendale, AZ	1.0–2.0	1.5–2.0	787	$1,471	$1.87	0d	14	0.67mi
9022 N 63rd Dr Glendale, AZ	3.0	2.0	1401	$2,195	$1.57	14d	1	0.71mi
6324 W Purdue Ave Glendale, AZ	3.0	1.5	1513	$1,350	$0.89	0d	1	0.77mi
7022 W Cesar St Peoria, AZ	3.0	2.5	1514	$1,895	$1.25	44d	1	0.92mi
6325 W Cheryl Dr Glendale, AZ	2.0	2.0	1092	$2,100	$1.92	25d	1	0.96mi
7034 W McMahon Way Peoria, AZ	3.0	2.5	1606	$1,895	$1.18	21d	1	0.96mi
7007 W Mercer Ln Peoria, AZ	3.0	2.5	1432	$2,100	$1.47	0d	1	1.03mi
9903 N 77th Ave Peoria, AZ	3.0	2.0	1446	$1,895	$1.31	5d	1	1.05mi
6015 W Olive Ave Glendale, AZ	2.0	1.0	800	$1,500	$1.88	2d	16	1.07mi
6002 W Townley Ave Glendale, AZ	3.0	1.5	1026	$1,549	$1.51	2d	1	1.11mi
6011 W Townley Ave Glendale, AZ	2.0	1.5	1026	$1,399	$1.36	0d	1	1.12mi
6525 W Mercer Ln Glendale, AZ	3.0	2.0	1501	$1,750	$1.17	14d	1	1.15mi
10615 N 63rd Dr Glendale, AZ	3.0	2.5	1837	$3,245	$1.77	0d	1	1.19mi
6219 W North Ln Glendale, AZ	3.0	2.0	1662	$1,939	$1.17	17d	1	1.21mi
8622 N 59th Ave Glendale, AZ	2.0–3.0	2.0	1232	$1,450	$1.18	2d	6	1.21mi
8546 N 59th Ave Glendale, AZ	2.0	1.0–2.0	700	$1,235	$1.76	2d	9	1.21mi
8546 N 59th Ave Glendale, AZ	2.0	1.0–2.0	700	$1,975	$2.82	21d	6	1.21mi

Listing history 16 events

1. 2026-06-21
   days on market $49,000 Active 101 DOM
2. 2026-06-18
   days on market $49,000 Active 98 DOM
3. 2026-06-17
   days on market $49,000 Active 97 DOM
4. 2026-06-16
   days on market $49,000 Active 96 DOM
5. 2026-06-15
   days on market $49,000 Active 95 DOM
6. 2026-06-13
   days on market $49,000 Active 93 DOM
7. 2026-06-13
   days on market $49,000 Active 92 DOM
8. 2026-06-09
   days on market $49,000 Active 89 DOM
9. 2026-06-08
   days on market $49,000 Active 88 DOM
10. 2026-06-07
    days on market $49,000 Active 87 DOM
11. 2026-06-04
    days on market $49,000 Active 84 DOM
12. 2026-06-03
    days on market $49,000 Active 83 DOM
13. 2026-06-02
    days on market $49,000 Active 82 DOM
14. 2026-06-01
    days on market $49,000 Active 81 DOM
15. 2026-05-31
    days on market $49,000 Active 80 DOM
16. 2026-03-12
    listed $49,000 Active 359-char remark

    Show marketing remark (359 chars)

    ON LEASED LAND: Dont miss out on this 2 bedroom 2 bath manufactured home with a den. Very spacious Kitchen. Roof just replaced in February, new hot water heater and washer. All appliances convey. Located in an age restricted gated resort style community. Community features pool, spa, pickleball, billiards, work out facility. Lots of activities.

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,390
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$1,425
• Taxable income: $12,818
• Est. tax owed @ 24.0%: −$3,076
• After-tax cash flow: $9,759/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, including exterior siding, interior walls/paint, and flooring. Painting and replacing worn elements will significantly improve its appearance and value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior walls/paint — Peeling and worn paint
• Major flooring — Worn wood flooring

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Resale Paint interior walls/paint — Fresh paint improves aesthetics
• Resale Replace worn flooring — New flooring enhances overall appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls/paint · Peeling and worn paint	Major	$15,000–50,000
flooring · Worn wood flooring	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Resale Paint interior walls/paint — Fresh paint improves aesthetics ↑
• Resale Replace worn flooring — New flooring enhances overall appearance ↑

ⓘ 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: Peoria Unified School District (4237)
• NCES district ID: 0406250
• Math proficiency: 36% ▼ -14.00%
• Reading proficiency: 42% ▼ -8.00%
• Median HH income: $60,171
• Composite: 34.62/100
• National rank: #5152
• State rank: #64 of 249 in AZ

Livability — Peoria

• Score: 76/100
• State rank: #14
• US rank: #3603

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peoria, AZ
• County: Maricopa County · 4,537,380 people
• City population: 206,687
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 60,918
• Household income: $67,380
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1879.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 51% Hispanic / Latino 34% Two or more races 14% Black 5% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 1% Vietnamese 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: ▼ -80.77%
• Current HPI: 328.1069
• Rent YoY: ▲ 0.62%
• 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

• 2026-03-12 Listed $49,000 ARMLS