2233 E Behrend Dr #142 · Phoenix, AZ 85024

$115,900

2 bd · 2.0 ba · 980 sqft · Manufactured · 286 Days on market

Built 1985 4,126 sqft lot $118/sqft · 70% above area

---

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
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Year, New Home in Boulder Ridge! This beautifully updated, MOVE-IN READY home is located in the highly desirable Boulder Ridge 55+ gated community, offering comfort, security, and an easy lock-and-leave lifestyle. Featuring two spacious primary suites, this home shines with extensive upgrades including new energy-efficient windows with reflective tint, fresh interior and exterior paint, brand-new A/C (2025), laminate flooring, Trex decking, RO system, updated lighting, doors, fans, blinds, and refreshed landscaping. Relax on your private deck and enjoy low-maintenance living. Conveniently located near Loop 101 and Desert Ridge Marketplace for shopping, dining, and entertainment. Park approval required. No rentals. Don't miss this exceptional opportunity—schedule your showing today! Financing available!

Key facts

• 4,126 sq ft lot
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $116k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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 (+1.4%/yr); 201 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $801 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 + 1.4% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $33k; list at $116k implies a 251% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,992 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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: 1.55% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.94%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $68,326
• List price: $115,900
• Delta: 69.63%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2233 E Behrend Dr #152	0.18mi	2/2.0	980 (0%)	3mo	$42,500	$43	89
2233 E Behrend Dr #81	0.18mi	2/2.0	1,040 (+6%)	2mo	$52,000	$50	80
2233 E Behrend Dr #93	0.09mi	2/2.0	1,056 (+8%)	6mo	$47,000	$45	77
2233 E Behrend Dr #92	0.18mi	2/2.0	1,056 (+8%)	5mo	$20,000	$19	74
2233 E Behrend Dr #126	0.07mi	2/2.0	960 (-2%)	23mo	$155,000	$161	74
2233 E Behrend Dr #59	0.00mi	2/2.0	1,056 (+8%)	24mo	$112,500	$107	67
2539 E Oraibi Dr	0.38mi	2/2.0	985 (+0%)	21mo	$240,000	$244	64
19639 N 25th Pl	0.31mi	2/2.0	1,057 (+8%)	12mo	$165,000	$156	62
2233 E Behrend Dr #161	0.07mi	3/2.0 (+1)	1,088 (+11%)	16mo	$20,000	$18	60
2701 E Utopia Rd #66	0.58mi	2/2.0	1,024 (+4%)	10mo	$50,000	$49	57
2701 E Utopia Rd #8	0.58mi	3/2.0 (+1)	984 (+0%)	14mo	$72,000	$73	56
2701 E Utopia Rd #234	0.66mi	2/1.0	896 (-9%)	3mo	$18,000	$20	48

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 · 1.44% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.55×
• Total profit: $17,981
• Equity at exit: $17,281

10-year hold

• IRR: 21.7%
• Equity multiple: 2.71×
• Total profit: $55,591
• Equity at exit: $10,021

Cash invested: $32,452 (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 85024

• Home prices YoY: -21.0%
• Rents YoY: 1.4%
• Active inventory: 201
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,799 high
• Mortgage (P&I): −$608
• Tax est. 1.5%: −$145 /mo · $1,738/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $620

Break-even live

Break-even rent $1,014

Max offer price $115,900

Occupancy floor 61%

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,770	$1.95	1d	10	0.22mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,643	$1.64	2d	22	0.25mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$2,390	$2.60	2d	16	0.30mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,694	$1.98	3d	62	0.38mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,622	$1.69	2d	11	0.61mi
18416 N Cave Creek Rd Unit 6 Phoenix, AZ	1.0	1.0	748	$1,250	$1.67	7d	1	0.74mi
18416 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	786	$3,000	$3.81	4d	9	0.80mi
18202 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	722	$1,148	$1.59	4d	7	0.93mi
2554 E Villa Rita Dr Phoenix, AZ	2.0	1.0	1118	$2,750	$2.46	24d	1	1.07mi
2077 E Charleston Ave Phoenix, AZ	2.0	1.0	720	$1,295	$1.80	24d	1	1.12mi
2067 E Charleston Ave Phoenix, AZ	2.0	2.0	840	$1,395	$1.66	24d	1	1.12mi
17602 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	650	$1,625	$2.50	2d	13	1.28mi
3301 E Wescott Dr Phoenix, AZ	3.0	2.0	1101	$1,995	$1.81	24d	1	1.33mi

Listing history 23 events

1. 2026-06-18
   days on market $115,900 Active 286 DOM
2. 2026-06-17
   days on market $115,900 Active 285 DOM
3. 2026-06-16
   days on market $115,900 Active 284 DOM
4. 2026-06-15
   days on market $115,900 Active 283 DOM
5. 2026-06-13
   days on market $115,900 Active 281 DOM
6. 2026-06-13
   days on market $115,900 Active 280 DOM
7. 2026-06-09
   days on market $115,900 Active 277 DOM
8. 2026-06-08
   days on market $115,900 Active 276 DOM
9. 2026-06-07
   days on market $115,900 Active 275 DOM
10. 2026-06-04
    days on market $115,900 Active 272 DOM
11. 2026-06-03
    days on market $115,900 Active 271 DOM
12. 2026-06-02
    days on market $115,900 Active 270 DOM
13. 2026-06-01
    days on market $115,900 Active 269 DOM
14. 2026-05-31
    days on market $115,900 Active 268 DOM
15. 2026-01-15
    price $115,900 823-char remark

    Show marketing remark (823 chars)

    New Year, New Home in Boulder Ridge! This beautifully updated, MOVE-IN READY home is located in the highly desirable Boulder Ridge 55+ gated community, offering comfort, security, and an easy lock-and-leave lifestyle. Featuring two spacious primary suites, this home shines with extensive upgrades including new energy-efficient windows with reflective tint, fresh interior and exterior paint, brand-new A/C (2025), laminate flooring, Trex decking, RO system, updated lighting, doors, fans, blinds, and refreshed landscaping. Relax on your private deck and enjoy low-maintenance living. Conveniently located near Loop 101 and Desert Ridge Marketplace for shopping, dining, and entertainment. Park approval required. No rentals. Don't miss this exceptional opportunity—schedule your showing today! Financing available!

16. 2025-09-05
    listed $120,000 Active 823-char remark

    Show marketing remark (823 chars)

    New Year, New Home in Boulder Ridge! This beautifully updated, MOVE-IN READY home is located in the highly desirable Boulder Ridge 55+ gated community, offering comfort, security, and an easy lock-and-leave lifestyle. Featuring two spacious primary suites, this home shines with extensive upgrades including new energy-efficient windows with reflective tint, fresh interior and exterior paint, brand-new A/C (2025), laminate flooring, Trex decking, RO system, updated lighting, doors, fans, blinds, and refreshed landscaping. Relax on your private deck and enjoy low-maintenance living. Conveniently located near Loop 101 and Desert Ridge Marketplace for shopping, dining, and entertainment. Park approval required. No rentals. Don't miss this exceptional opportunity—schedule your showing today! Financing available!

17. 2019-04-30
    soldstatus $33,000 Closed 820-char remark

    Show marketing remark (820 chars)

    Desirable Boulder Ridge Gated 55+ Community. Enjoy the scenic views of mountains and boulders as you walk, live and play, 2 heated pools, tennis, fitness center, club house & plenty of activities. This Home is 14x70, Split floor plan bedroom at each end. Vaulted ceilings, central HVAC, dual pane windows, ceiling fans. Large master accommodates king size bed, walk in shower. 2nd bdrm direct access to guest bath. Eat in kitchen, island w/cook top & hood vent, lots of counter space, cabinets w/pullouts & built in Range. Appliances, washer & dryer included. Kitchen opens to great room. Covered patio/deck & side by side carport, work shop/storage room. Roof approx 5-6 years old. Lot rent $715 monthly + water, sewer, trash (approx $70 monthly). Buyer to qualify with park. Furniture Available.

18. 2019-03-28
    status Pending 820-char remark

    Show marketing remark (820 chars)

    Desirable Boulder Ridge Gated 55+ Community. Enjoy the scenic views of mountains and boulders as you walk, live and play, 2 heated pools, tennis, fitness center, club house & plenty of activities. This Home is 14x70, Split floor plan bedroom at each end. Vaulted ceilings, central HVAC, dual pane windows, ceiling fans. Large master accommodates king size bed, walk in shower. 2nd bdrm direct access to guest bath. Eat in kitchen, island w/cook top & hood vent, lots of counter space, cabinets w/pullouts & built in Range. Appliances, washer & dryer included. Kitchen opens to great room. Covered patio/deck & side by side carport, work shop/storage room. Roof approx 5-6 years old. Lot rent $715 monthly + water, sewer, trash (approx $70 monthly). Buyer to qualify with park. Furniture Available.

19. 2018-10-29
    price $33,000 820-char remark

    Show marketing remark (820 chars)

    Desirable Boulder Ridge Gated 55+ Community. Enjoy the scenic views of mountains and boulders as you walk, live and play, 2 heated pools, tennis, fitness center, club house & plenty of activities. This Home is 14x70, Split floor plan bedroom at each end. Vaulted ceilings, central HVAC, dual pane windows, ceiling fans. Large master accommodates king size bed, walk in shower. 2nd bdrm direct access to guest bath. Eat in kitchen, island w/cook top & hood vent, lots of counter space, cabinets w/pullouts & built in Range. Appliances, washer & dryer included. Kitchen opens to great room. Covered patio/deck & side by side carport, work shop/storage room. Roof approx 5-6 years old. Lot rent $715 monthly + water, sewer, trash (approx $70 monthly). Buyer to qualify with park. Furniture Available.

20. 2018-09-19
    listed $39,000 Active 820-char remark

    Show marketing remark (820 chars)

    Desirable Boulder Ridge Gated 55+ Community. Enjoy the scenic views of mountains and boulders as you walk, live and play, 2 heated pools, tennis, fitness center, club house & plenty of activities. This Home is 14x70, Split floor plan bedroom at each end. Vaulted ceilings, central HVAC, dual pane windows, ceiling fans. Large master accommodates king size bed, walk in shower. 2nd bdrm direct access to guest bath. Eat in kitchen, island w/cook top & hood vent, lots of counter space, cabinets w/pullouts & built in Range. Appliances, washer & dryer included. Kitchen opens to great room. Covered patio/deck & side by side carport, work shop/storage room. Roof approx 5-6 years old. Lot rent $715 monthly + water, sewer, trash (approx $70 monthly). Buyer to qualify with park. Furniture Available.

21. 2018-06-19
    soldstatus $27,900 Closed
22. 2018-06-15
    status Pending
23. 2018-04-25
    listed $29,900 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 5 d/yr ≥110°F today · 13 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: $21,591
• − Mortgage interest: −$6,492
• − Property taxes: −$1,738
• − Insurance: −$580
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$3,372
• Taxable income: $5,954
• Est. tax owed @ 24.0%: −$1,429
• After-tax cash flow: $6,016/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: 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): 26,199
• Household income: $106,724
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 547.0

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 16% Two or more races 12% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 3% Portuguese 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 78% English-only · Spanish 10% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -82.95%
• Current HPI: 312.7238
• Rent YoY: ▲ 1.44%
• 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

+287.6% since first listed

9 events — show timeline

• 2026-01-15 Price Changed $115,900 ARMLS
• 2025-09-05 Listed $120,000 ARMLS
• 2019-04-30 Sold (MLS) $33,000 ARMLS
• 2019-03-28 Pending — ARMLS
• 2018-10-29 Price Changed $33,000 ARMLS
• 2018-09-19 Listed $39,000 ARMLS
• 2018-06-19 Sold (MLS) $27,900 ARMLS
• 2018-06-15 Pending — ARMLS
• 2018-04-25 Listed $29,900 ARMLS