3700 S Ironwood Dr #108 · Apache Junction, AZ 85120

$109,000

2 bd · 2.0 ba · 1,196 sqft · Manufactured · 10 Days on market

Built 2002 Good condition Est $93k · 17% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

THE ABSOLUTE BEST LOT IN THE 55+ GATED COMMUNITY OF DESERT HARBOR * CORNER LOT LOCATED DIRECTLY ACROSS FROM THE CLUBHOUSE & ALL OF THE AMENITIES * SINGLE LEVEL 2 BEDROOM, 2 BATH, PLUS HUGE OFFICE * ALSO FEATURES AN AMAZING 400 SQFT SCREENED IN AIR-CONDITIONED ARIZONA ROOM WHICH IS PERFECT FOR A MEDIA/GAMEROOM * GREAT ROOM * KITCHEN FEATURES GRANITE COUNTERS, HIGH-END SAMSUNG APPLIANCES, ISLAND, FARM SINK, NEUTRAL CABINETS, MOSAIC BACKSPLASH, & PANTRY * BREAKFAST NOOK * VAULTED CEILINGS * UPGRADED FIXTURES THROUGHOUT * WOOD FLOORING * TILE * SHAKER BASEBOARDS * 2-INCH WOOD BLINDS * MASTER SUITE W/ WALK-IN CLOSET * LAUNDRY ROOM W/ WASHER/DRYER * 2 CAR CARPORT * HUGE STORAGE ROOM *

Key facts

• Dog park
• Fitness center
• Clubhouse

Tags

• CORNER LOT
• SCREENED IN ARIZONA ROOM
• CLUBHOUSE
• PUTTING GREEN
• DOG PARK
• FITNESS CENTER

Property features AI

Finance

• Other: Annual tax information available
• HOA & community: Land lease community (monthly land lease); Land lease payment required monthly; Association covers water, sewer and trash; indicates no additional fees; Gated community with pool and heated community spa; Community media room, fitness center, and biking/walking paths

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2 carport spaces
• Utilities: City water; Public sewer; 220V in kitchen
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Wood frame construction; Painted exterior; Composition roof; Building area reported by owner
• Exterior features: Private street access; Screened-in patio; Outdoor storage; Corner lot; Gravel/stone front and back; Private maintained road; Mountain views

Interior

• Kitchen: Built-in microwave; Refrigerator; Dishwasher; Disposal; Built-in electric oven; 220V outlet in kitchen
• Bedrooms: Up to 3 possible bedrooms
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Ceiling fans; Programmable thermostat; Has heating and cooling
• Interior features: High speed internet available; Granite counters; Eat-in kitchen; Vaulted ceilings; Kitchen island; Pantry; Full bath in primary bedroom; Skylights; Dual-pane windows
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $109k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Cap rate 14.7% 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+, schools F, amenities 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.
• Market conditions: Rents falling (-3.5%/yr); 468 active listings in the ZIP; 8 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).
• This rent runs 40% 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 $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~5 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: moderate wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,000

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: 1.76% ✓
• Cap rate: 14.65%
• Cash-on-cash: 29.85%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $93,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2208 W Baseline Ave #137	0.24mi	2/2.0	1,232 (+3%)	2mo	$50,000	$41	83
2208 W Baseline Ave #67	0.26mi	2/2.0	1,232 (+3%)	2mo	$110,000	$89	81
3700 S Ironwood Dr Lot 124	0.00mi	2/2.0	1,056 (-12%)	3mo	$34,990	$33	78
3700 S Ironwood Dr #79	0.13mi	3/2.0 (+1)	1,248 (+4%)	11mo	$190,000	$152	73
3400 S Ironwood Dr #181	0.27mi	2/2.0	1,150 (-4%)	11mo	$85,500	$74	72
2208 W Baseline Ave #40	0.28mi	2/2.0	1,056 (-12%)	1mo	$82,000	$78	67
2208 W Baseline Ave #118	0.28mi	2/2.0	1,144 (-4%)	16mo	$76,000	$66	66
2208 W Baseline Ave #87	0.26mi	2/2.0	1,344 (+12%)	8mo	$105,000	$78	60
2208 W Baseline Ave #9	0.26mi	3/2.0 (+1)	1,248 (+4%)	18mo	$135,000	$108	60
2208 W Baseline Ave #142	0.26mi	2/2.0	1,046 (-12%)	11mo	$70,000	$67	58
2208 W Baseline Ave #56	0.26mi	3/2.0 (+1)	1,323 (+11%)	14mo	$130,000	$98	54
2175 W Southern Ave #200	0.62mi	2/2.0	1,056 (-12%)	13mo	$57,900	$55	40

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: 21.0%
• Equity multiple: 1.82×
• Total profit: $25,115
• Equity at exit: $16,252

10-year hold

• IRR: 27.0%
• Equity multiple: 3.05×
• Total profit: $62,574
• Equity at exit: $9,424

Cash invested: $30,520 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,915 high
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $759

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 55%

Sensitivity live

Price	-10% $835	-5% $797	+0% $759	+5% $722	+10% $684
Rent	-10% $608	-5% $684	+0% $759	+5% $835	+10% $911
Rate	-1.0pp $814	-0.5pp $787	base $759	+0.5pp $731	+1.0pp $702

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3454 S Warner Dr Apache Junction, AZ	3.0	2.0	1300	$2,500	$1.92	25d	1	0.59mi
2065 W 20th Ave Apache Junction, AZ	3.0	2.0	1110	$1,800	$1.62	0d	1	1.12mi
2043 S Thunderbird Dr Apache Junction, AZ	3.0	2.0	1348	$1,925	$1.43	25d	1	1.13mi
2101 S Yellow Wood #45 Mesa, AZ	2.0	2.0	1081	$1,649	$1.53	45d	1	1.17mi
2101 S Yellow Wood #60 Mesa, AZ	2.0	2.0	1371	$2,600	$1.90	0d	1	1.17mi
3000 W Southern Ave Apache Junction, AZ	1.0–2.0	1.0–2.0	836	$1,719	$2.05	0d	13	1.22mi
2061 S Apache Dr Unit 1 Apache Junction, AZ	2.0	1.0	800	$1,095	$1.37	6d	1	1.45mi
1446 S Palo Verde Dr Unit apache Apache Junction, AZ	2.0	2.0	1210	$1,700	$1.40	25d	1	1.45mi

Listing history 7 events

1. 2026-06-21
   days on market $109,000 Active 10 DOM
2. 2026-06-18
   days on market $109,000 Active 7 DOM
3. 2026-06-17
   days on market $109,000 Active 6 DOM
4. 2026-06-16
   days on market $109,000 Active 5 DOM
5. 2026-06-15
   days on market $109,000 Active 4 DOM
6. 2026-06-13
   remarks 691-char remark
7. 2026-06-13
   listed $109,000 Active 2 DOM

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

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 6 d/yr ≥111°F today · 16 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: $22,976
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$3,171
• Taxable income: $7,843
• Est. tax owed @ 24.0%: −$1,882
• After-tax cash flow: $7,229/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 · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with recent updates, offering a move-in-ready experience. It features a well-maintained exterior, updated kitchen and bath, and a spacious layout.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale trim landscaping — improves curb appeal
• Both install smart home devices — increases home's value and convenience

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale trim landscaping — improves curb appeal ↑
• Both install smart home devices — increases home's value and convenience ↑

ⓘ 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 $109,000 ARMLS