19602 N 32nd St #32 · Phoenix, AZ 85050

$100,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured · 187 Days on market

Built 1995 Good condition $93/sqft · 18% below area Est $122k · 18% 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
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Mr. and Mrs. Clean live here! Impeccable 2-bedroom, 2-bathroom (split floor plan) with tasteful updating located in the all-ages gated community of Carefree Manor. This property has been extremely well taken care of...and it shows! Highlights: Updating in kitchen and bathrooms. Repainted inside and outside. New skirting. New roof in 2025. Fan motor replaced in 2023. HVAC serviced yearly. Motion sensor lighting. Community Clubhouse, weightroom, pool, spa and more! Come and see why you would love to live here! Please note, this community is leased lot only.

Key facts

• Community clubhouse
• Updating in kitchen
• New skirting

Tags

• UPDATING IN KITCHEN
• UPDATING IN BATHROOMS
• NEW SKIRTING
• NEW ROOF
• MOTION SENSOR LIGHTING
• COMMUNITY CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

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 $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 3.3% in Phoenix — 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 75/100 on livability (#16 in AZ, #3,924 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime F.
• Paradise Valley Unified District (4241) (urban): math 39% / reading 46% proficiency, ranked #56 of 249 in AZ (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.0%/yr); 218 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $691 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 + 2.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $14k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.24% ✓
• Cap rate: 19.27%
• Cash-on-cash: 46.36%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (median comp): $122,188
• List price: $100,000
• Delta: -18.16%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19802 N 32nd St #51	0.14mi	2/2.0	1,080 (0%)	7mo	$49,500	$46	88
19602 N 32nd St #21	0.00mi	3/1.5 (+1)	1,152 (+7%)	4mo	$124,000	$108	78
19611 N 30th St	0.09mi	3/2.0 (+1)	1,162 (+8%)	7mo	$299,000	$257	72
19802 N 32nd St #78	0.18mi	3/2.0 (+1)	1,162 (+8%)	3mo	$65,000	$56	72
19645 N 30th St	0.11mi	3/2.0 (+1)	1,147 (+6%)	18mo	$295,000	$257	65
19639 N 25th Pl	0.66mi	2/2.0	1,057 (-2%)	12mo	$165,000	$156	56
19809 N 26th St	0.57mi	3/2.0 (+1)	1,152 (+7%)	7mo	$125,000	$109	52
2701 E Utopia Rd #66	0.68mi	2/2.0	1,024 (-5%)	10mo	$50,000	$49	51
2539 E Oraibi Dr	0.60mi	2/2.0	985 (-9%)	21mo	$240,000	$244	40
19802 N 32nd St #28	0.65mi	2/2.0	1,152 (+7%)	22mo	$90,000	$78	40
2701 E Utopia Rd #8	0.68mi	3/2.0 (+1)	984 (-9%)	14mo	$72,000	$73	37
19849 N 27th St	0.55mi	3/2.0 (+1)	1,215 (+12%)	22mo	$349,900	$288	30

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 · 1.98% rent growth · sell at horizon

5-year hold

• IRR: 42.5%
• Equity multiple: 2.80×
• Total profit: $50,439
• Equity at exit: $14,910

10-year hold

• IRR: 48.1%
• Equity multiple: 5.41×
• Total profit: $123,599
• Equity at exit: $8,646

Cash invested: $28,000 (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 85050

• Home prices YoY: -21.9%
• Rents YoY: 2.0%
• Active inventory: 218
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,244 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $1,082

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 47%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	21d	1	0.32mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	14d	1	0.36mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	24d	1	0.36mi
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,300	$1.57	1d	1	0.40mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	12d	1	0.40mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	1d	1	0.44mi
3214 E Siesta Ln Phoenix, AZ	2.0	2.0	1228	$2,200	$1.79	24d	1	0.50mi
3301 E Wescott Dr Phoenix, AZ	3.0	2.0	1101	$1,995	$1.81	24d	1	0.58mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,643	$1.64	1d	22	0.69mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$2,390	$2.60	2d	16	0.71mi
18617 N 35th St Phoenix, AZ	3.0	2.5	1425	$2,400	$1.68	10d	1	0.84mi
2336 E Utopia Rd Phoenix, AZ	2.0–3.0	2.5	1327	$2,395	$1.80	5d	1	0.85mi
2335 E Utopia Rd Unit 16 Phoenix, AZ	3.0	2.5	1426	$2,550	$1.79	18d	1	0.86mi
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,770	$1.95	1d	10	0.89mi
2755 E Michigan Ave Phoenix, AZ	3.0	2.0	1316	$2,700	$2.05	17d	1	0.98mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,694	$1.98	2d	62	1.04mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,622	$1.69	1d	11	1.05mi
2554 E Villa Rita Dr Phoenix, AZ	2.0	1.0	1118	$2,750	$2.46	24d	1	1.14mi
18416 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	786	$3,000	$3.81	3d	9	1.15mi
18416 N Cave Creek Rd Unit 6 Phoenix, AZ	1.0	1.0	748	$1,250	$1.67	7d	1	1.15mi
2602 E Charleston Ave Phoenix, AZ	3.0	2.0	1426	$2,100	$1.47	24d	1	1.18mi
3916 E Morrow Dr Phoenix, AZ	3.0	2.0	1350	$2,425	$1.80	11d	1	1.20mi
20007 N 20th Way Phoenix, AZ	3.0	2.0	1251	$3,900	$3.12	43d	1	1.21mi
20660 N 40th St #2137 Phoenix, AZ	2.0	2.0	1131	$3,500	$3.09	43d	1	1.22mi
2030 E Wahalla Ln Phoenix, AZ	3.0	2.0	1400	$2,115	$1.51	2d	1	1.24mi
18202 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	722	$1,148	$1.59	3d	7	1.25mi
20660 N 40th St Phoenix, AZ	2.0–3.0	2.0	1325	$1,749	$1.32	17d	4	1.26mi
2221 E Union Hills Dr #158 Phoenix, AZ	3.0	2.0	1332	$2,100	$1.58	18d	1	1.28mi
3316 E Helena Dr Phoenix, AZ	3.0	2.0	1176	$2,000	$1.70	24d	1	1.39mi
18239 N 40th St Phoenix, AZ	2.0	1.5–2.5	1460	$1,538	$1.05	24d	4	1.47mi
18239 N 40th St Phoenix, AZ	2.0	1.5–2.5	1494	$1,700	$1.14	14d	3	1.47mi
18239 N 40th St #168 Phoenix, AZ	2.0	2.5	1189	$1,698	$1.43	2d	1	1.47mi

Listing history 35 events

1. 2026-06-18
   days on market $100,000 Active 187 DOM
2. 2026-06-17
   days on market $100,000 Active 186 DOM
3. 2026-06-16
   days on market $100,000 Active 185 DOM
4. 2026-06-15
   days on market $100,000 Active 184 DOM
5. 2026-06-13
   days on market $100,000 Active 182 DOM
6. 2026-06-13
   days on market $100,000 Active 181 DOM
7. 2026-06-09
   days on market $100,000 Active 178 DOM
8. 2026-06-08
   days on market $100,000 Active 177 DOM
9. 2026-06-08
   remarks 699-char remark
10. 2026-06-07
    days on market $100,000 Active 176 DOM
11. 2026-06-04
    days on market $100,000 Active 173 DOM
12. 2026-06-03
    days on market $100,000 Active 172 DOM
13. 2026-06-02
    days on market $100,000 Active 171 DOM
14. 2026-06-01
    days on market $100,000 Active 170 DOM
15. 2026-05-31
    days on market $100,000 Active 169 DOM
16. 2026-05-15
    price $100,000 567-char remark

    Show marketing remark (567 chars)

    Mr. and Mrs. Clean live here! Impeccable 2-bedroom, 2-bathroom (split floor plan) with tasteful updating located in the all-ages gated community of Carefree Manor. This property has been extremely well taken care of...and it shows! Highlights: Updating in kitchen and bathrooms. Repainted inside and outside. New skirting. New roof in 2025. Fan motor replaced in 2023. HVAC serviced yearly. Motion sensor lighting. Community Clubhouse, weightroom, pool, spa and more! Come and see why you would love to live here! Please note, this community is leased lot only.

17. 2026-04-06
    price $105,000 567-char remark

    Show marketing remark (567 chars)

    Mr. and Mrs. Clean live here! Impeccable 2-bedroom, 2-bathroom (split floor plan) with tasteful updating located in the all-ages gated community of Carefree Manor. This property has been extremely well taken care of...and it shows! Highlights: Updating in kitchen and bathrooms. Repainted inside and outside. New skirting. New roof in 2025. Fan motor replaced in 2023. HVAC serviced yearly. Motion sensor lighting. Community Clubhouse, weightroom, pool, spa and more! Come and see why you would love to live here! Please note, this community is leased lot only.

18. 2026-03-09
    price $110,000 567-char remark

    Show marketing remark (567 chars)

    Mr. and Mrs. Clean live here! Impeccable 2-bedroom, 2-bathroom (split floor plan) with tasteful updating located in the all-ages gated community of Carefree Manor. This property has been extremely well taken care of...and it shows! Highlights: Updating in kitchen and bathrooms. Repainted inside and outside. New skirting. New roof in 2025. Fan motor replaced in 2023. HVAC serviced yearly. Motion sensor lighting. Community Clubhouse, weightroom, pool, spa and more! Come and see why you would love to live here! Please note, this community is leased lot only.

19. 2026-01-22
    price $112,000 567-char remark

    Show marketing remark (567 chars)

    Mr. and Mrs. Clean live here! Impeccable 2-bedroom, 2-bathroom (split floor plan) with tasteful updating located in the all-ages gated community of Carefree Manor. This property has been extremely well taken care of...and it shows! Highlights: Updating in kitchen and bathrooms. Repainted inside and outside. New skirting. New roof in 2025. Fan motor replaced in 2023. HVAC serviced yearly. Motion sensor lighting. Community Clubhouse, weightroom, pool, spa and more! Come and see why you would love to live here! Please note, this community is leased lot only.

20. 2025-12-13
    listed $113,900 Active 567-char remark

    Show marketing remark (567 chars)

    Mr. and Mrs. Clean live here! Impeccable 2-bedroom, 2-bathroom (split floor plan) with tasteful updating located in the all-ages gated community of Carefree Manor. This property has been extremely well taken care of...and it shows! Highlights: Updating in kitchen and bathrooms. Repainted inside and outside. New skirting. New roof in 2025. Fan motor replaced in 2023. HVAC serviced yearly. Motion sensor lighting. Community Clubhouse, weightroom, pool, spa and more! Come and see why you would love to live here! Please note, this community is leased lot only.

21. 2025-08-30
    historical
22. 2025-05-06
    price $110,000
23. 2025-03-28
    status Active
24. 2025-03-28
    price $115,000
25. 2024-11-03
    historical
26. 2024-10-27
    listed $125,000 Active
27. 2021-11-19
    soldstatus $71,300 Closed
28. 2021-11-05
    status Pending
29. 2021-10-19
    price $75,500
30. 2021-10-18
    price $78,500
31. 2021-10-05
    listed $80,000 Active
32. 2021-10-04
    historical
33. 2021-09-27
    status Active
34. 2021-09-08
    status Pending
35. 2021-09-03
    listed $80,000 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,927
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,154
• − Management: −$2,154
• − Depreciation: −$2,909
• Taxable income: $12,108
• Est. tax owed @ 24.0%: −$2,906
• After-tax cash flow: $10,073/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 75/100 Cosmetic rehab

This well-maintained mobile home in Carefree Manor is move-in ready with recent updates and a good condition score.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics.
• Both Updating flooring — Improves living spaces and adds value.
• Both Upgrading lighting fixtures — Enhances ambiance and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics. ↑
• Both Updating flooring — Improves living spaces and adds value. ↑
• Both Upgrading lighting fixtures — Enhances ambiance 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: Paradise Valley Unified District (4241)
• NCES district ID: 0405930
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $64,106
• Composite: 37.89/100
• National rank: #4316
• State rank: #56 of 249 in AZ

Livability — Phoenix

• Score: 75/100
• State rank: #16
• US rank: #3924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, AZ
• County: Maricopa County · 4,537,380 people
• City population: 1,500,198
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 33,118
• Household income: $139,836
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 432.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Two or more races 11% Asian 9% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Italian 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 5% Other Asian/Pacific 2%

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: ▼ -86.38%
• Current HPI: 308.7483
• Rent YoY: ▲ 1.98%
• 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

+25.0% since first listed

20 events — show timeline

• 2026-05-15 Price Changed $100,000 ARMLS
• 2026-04-06 Price Changed $105,000 ARMLS
• 2026-03-09 Price Changed $110,000 ARMLS
• 2026-01-22 Price Changed $112,000 ARMLS
• 2025-12-13 Listed $113,900 ARMLS
• 2025-08-30 Listing Removed — ARMLS
• 2025-05-06 Price Changed $110,000 ARMLS
• 2025-03-28 Relisted — ARMLS
• 2025-03-28 Price Changed $115,000 ARMLS
• 2024-11-03 Listing Removed — ARMLS
• 2024-10-27 Listed $125,000 ARMLS
• 2021-11-19 Sold (MLS) $71,300 ARMLS
• 2021-11-05 Pending — ARMLS
• 2021-10-19 Price Changed $75,500 ARMLS
• 2021-10-18 Price Changed $78,500 ARMLS
• 2021-10-05 Listed $80,000 ARMLS
• 2021-10-04 Listing Removed — ARMLS
• 2021-09-27 Relisted — ARMLS
• 2021-09-08 Pending — ARMLS
• 2021-09-03 Listed $80,000 ARMLS