15432 N 69th Ave · Glendale, AZ 85382

$188,000

3 bd · 2.0 ba · 720 sqft · Manufactured public records · 16 Days on market

Built 1973 8,309 sqft lot Est $259k · 27% under

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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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LARGE CORNER LOT! Beautiful size lot with mobile home. Man Made Solar Heat and Hot Water, Commercial Size Evap Cooler to create cool air for hot summer days, including the Garage/Workshop. Add on room with Spa inside, 2 sheds(1)is insulated. Access for Gas Heat as well.

Key facts

• No age restriction
• Owned land
• No hoa

Tags

• OWNED LAND
• NO HOA
• NO AGE RESTRICTION

Property features AI

Finance

• Other: Lot size approximately 8,309 sq ft (assessor)
• Financial info: Private financing
• HOA & community: No association fees

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2 carport spaces
• Utilities: City water; Septic system (septic tank, septic connected); 220V in kitchen
• Home design: Manufactured/Mobile home; Fee simple ownership
• Construction: Wood frame construction; Metal roof
• Exterior features: Dirt and gravel/stone front and back yard; No fencing; Metal roof; Wood frame construction with painted exterior

Interior

• Kitchen: 220V outlet in the kitchen
• Bedrooms: Possible 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Window/wall unit cooling
• Interior features: Full bath in the master bedroom; Washer/dryer hookup only
• Laundry & utility: Washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $188k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (3.6% below list).
• Recommended offer: $181k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 8.4% vs local median 3.5% in Glendale — 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 (#12 in AZ, #3,235 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: health & safety D+, crime 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.
• Zoned schools: Apache Elementary School (math 51% / reading 49%, grade D+, #263 of 1,109 statewide, top 24%, 732 students, 37% FRL); Centennial High School (math 34% / reading 39%, grade F, #88 of 381 statewide, top 24%, 2,007 students, 31% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents soft (-0.8%/yr); 281 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $48k; list at $188k implies a 292% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,316 (3.6% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.96% ✗
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $259,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7002 W Karen Lee Ln	0.13mi	2/1.0 (-1)	673 (-6%)	17mo	$242,000	$360	60

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: -7.9%
• Equity multiple: 0.72×
• Total profit: $-14,928
• Equity at exit: $28,031

10-year hold

• IRR: -2.2%
• Equity multiple: 0.87×
• Total profit: $-6,944
• Equity at exit: $16,255

Cash invested: $52,640 (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 85382

• Home prices YoY: -23.6%
• Rents YoY: -0.8%
• Active inventory: 281
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,813 high
• Mortgage (P&I): −$986
• Tax from tax record: −$39 /mo · $472/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $329

Break-even live

Break-even rent $1,397

Max offer price $188,000

Occupancy floor 77%

Sensitivity live

Price	-10% $435	-5% $382	+0% $329	+5% $276	+10% $222
Rent	-10% $186	-5% $257	+0% $329	+5% $400	+10% $472
Rate	-1.0pp $424	-0.5pp $377	base $329	+0.5pp $280	+1.0pp $231

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16601 N 75th Ave Peoria, AZ	1.0–3.0	1.0–2.0	1042	$2,378	$2.28	0d	17	0.88mi
6451 W Bell Rd Glendale, AZ	2.0	1.0–2.0	630	$1,285	$2.04	3d	107	1.01mi
5959 W Greenway Rd Glendale, AZ	1.0–2.0	1.0–2.0	735	$1,357	$1.85	0d	9	1.13mi
15050 N 59th Ave Glendale, AZ	1.0–2.0	1.0–2.0	775	$1,499	$1.93	3d	7	1.17mi
15010 N 59th Ave Glendale, AZ	1.0–2.0	1.0–2.0	637	$1,445	$2.27	3d	13	1.23mi

Listing history 11 events

1. 2026-06-21
   days on market $188,000 Active 16 DOM
2. 2026-06-18
   days on market $188,000 Active 13 DOM
3. 2026-06-17
   days on market $188,000 Active 12 DOM
4. 2026-06-16
   days on market $188,000 Active 11 DOM
5. 2026-06-15
   days on market $188,000 Active 10 DOM
6. 2026-06-13
   days on market $188,000 Active 8 DOM
7. 2026-06-13
   days on market $188,000 Active 7 DOM
8. 2026-06-09
   days on market $188,000 Active 4 DOM
9. 2026-06-08
   days on market $188,000 Active 3 DOM
10. 2026-06-07
    remarks 61-char remark
11. 2026-06-07
    listed $188,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $472 · $39/mo
• Projected year-2 tax: $1,241 · $103/mo
• Expected delta: +$769/yr (+$64/mo · 162.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 19 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: $21,758
• − Mortgage interest: −$10,531
• − Property taxes: −$472
• − Insurance: −$940
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$5,469
• Taxable income: $864
• Est. tax owed @ 24.0%: −$207
• After-tax cash flow: $3,738/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.

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 — Glendale

• Score: 76/100
• State rank: #12
• US rank: #3235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 294,586
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 43,729
• Household income: $91,525
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 1350.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 12% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 83% English-only · Spanish 7% Arabic 2% Other Indo-European 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: ▼ -86.44%
• Current HPI: 280.5805
• Rent YoY: ▼ -0.80%
• 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

+1466.7% since first listed

9 events — show timeline

• 2026-06-03 Listed $188,000 ARMLS
• 2015-07-24 Sold (Public Records) $47,900 Public Records
• 2015-07-24 Sold (MLS) $47,900 ARMLS
• 2015-07-13 Pending — ARMLS
• 2015-07-13 Listed $47,900 ARMLS
• 2015-07-08 Sold (MLS) $47,900 ARMLS
• 2015-06-29 Contingent — ARMLS
• 2015-06-17 Listed $47,900 ARMLS
• 1977-04-19 Sold (Public Records) $12,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $472 · +2.4% YoY. Source: county tax records.