6942 W Olive Ave #54 · Peoria, AZ 85345

$31,000

2 bd · 2.0 ba · 924 sqft · Manufactured · 187 Days on market

Built 1979 Fair condition $34/sqft · at area comps Est $30k · at est. ↓ 7% since listing

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +6.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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: Motivated Seller Step inside this beautiful 2 bedroom 2 bath split floorplan manufactured home located in a gated 55 plus age restricted community. You will find a large enclosed area(formerly screened in) large enough for another wonderful sitting area, sq ft not included in home. Enter in the home to find a large open front room that opens to the kitchen and dining area. Kitchen features a gas range, granite countertops, stainless steel dishwasher. Fridge is negotiable. Bedrooms are split. The one in the front has full bath off of it which also opens to the hall. The primary bedroom located at the rear of the home has full bath with separate tub and shower. Carport for 2 vehicles. Community is an active adult community with pool ,spa, pickleball, and mor

Key facts

• Gated community
• Pool
• Granite countertops

Tags

• GATED COMMUNITY
• LARGE ENCLOSED AREA
• GAS RANGE
• GRANITE COUNTERTOPS
• STAINLESS STEEL DISHWASHER
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $31k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $967 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $31k).
• Recommended offer: $27k (12.0% below list) — sets the bar for market timing.
• Cap rate 43.7% 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 leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $214 of loan paydown is wiped out by about $930 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($27k) 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 $27,280 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 4.82% ✓
• Cap rate: 43.72%
• Cash-on-cash: 133.65%
• DSCR: 6.95
• GRM: 1.7

CMA / ARV

• ARV (median comp): $30,000
• List price: $31,000
• Delta: 3.33%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6942 W Olive Ave #54	0.00mi	2/2.0	924 (0%)	1mo	$28,000	$30	100
6942 W Olive Ave #30	0.00mi	2/2.0	924 (0%)	8mo	$30,000	$32	94
6942 W Olive Ave #107	0.00mi	2/2.0	896 (-3%)	5mo	$20,000	$22	91
6942 W Olive Ave #94	0.00mi	2/2.0	952 (+3%)	11mo	$11,000	$12	85
6942 W Olive Ave #49	0.00mi	2/2.0	896 (-3%)	12mo	$5,000	$6	85
6942 W Olive Ave #20	0.00mi	2/2.0	1,040 (+13%)	4mo	$25,000	$24	76
6942 W Olive Ave #51	0.05mi	2/1.0	980 (+6%)	21mo	$34,500	$35	66
6601 W Sunnyslope Ln	0.40mi	2/2.0	970 (+5%)	11mo	$165,000	$170	64
8601 N 71st Ave #140	0.53mi	2/2.0	980 (+6%)	20mo	$65,000	$66	48
6960 W Peoria Ave #167	0.65mi	2/1.0	840 (-9%)	24mo	$42,000	$50	31

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: —
• Equity multiple: 7.11×
• Total profit: $53,075
• Equity at exit: $4,622

10-year hold

• IRR: —
• Equity multiple: 13.89×
• Total profit: $111,912
• Equity at exit: $2,680

Cash invested: $8,680 (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: 1.7×

Monthly cashflow live

• Estimated rent: $1,495 high
• Mortgage (P&I): −$163
• Tax est. 1.5%: −$39 /mo · $465/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $967

Break-even live

Break-even rent $271

Max offer price $31,000

Occupancy floor 30%

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: $7,750
• Closing costs: $930
• 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	24d	1	0.07mi
7040 W Olive Ave Peoria, AZ	2.0	2.0	953	$1,465	$1.54	5d	1	0.15mi
9160 N 67th Ave Unit 212 Peoria, AZ	2.0	2.0	992	$1,680	$1.69	24d	1	0.23mi
9350 N 67th Ave Glendale, AZ	2.0	2.0	970	$1,385	$1.43	13d	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 Unit A1 Glendale, AZ	1.0	1.0	600	$990	$1.65	24d	1	0.25mi
9350 N 67th Ave Unit B1 Glendale, AZ	2.0	1.0	842	$1,070	$1.27	24d	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
8772 N 67th Ave Glendale, AZ	1.0–3.0	1.0–2.0	937	$1,654	$1.77	1d	24	0.43mi
10013 N 66th Ln Glendale, AZ	3.0	2.0	1063	$1,999	$1.88	24d	1	0.63mi
6767 W Butler Dr Glendale, AZ	1.0–2.0	1.5–2.0	787	$1,458	$1.85	1d	14	0.67mi
8450 N 67th Ave Glendale, AZ	1.0–2.0	1.0	615	$1,350	$2.20	1d	4	0.73mi
8344 N 67th Ave Glendale, AZ	1.0–2.0	1.0	615	$1,315	$2.14	1d	10	0.77mi
6201 W Olive Ave Unit A4 Glendale, AZ	1.0	1.0	585	$875	$1.50	1d	1	0.82mi
6201 W Olive Ave Unit B1 Glendale, AZ	2.0	1.0	759	$1,225	$1.61	1d	1	0.82mi
6201 W Olive Ave Unit A3 Glendale, AZ	1.0	1.0	554	$820	$1.48	1d	1	0.82mi
6201 W Olive Ave Glendale, AZ	2.0	1.0	759	$1,445	$1.90	22d	1	0.83mi
6201 W Olive Ave Glendale, AZ	1.0	1.0	585	$960	$1.64	1d	1	0.83mi
8401 N 67th Ave Glendale, AZ	2.0	1.0	728	$1,400	$1.92	4d	1	0.85mi
6960 W Peoria Ave #90 Peoria, AZ	2.0	1.0	704	$1,320	$1.88	24d	1	0.94mi
6325 W Cheryl Dr Glendale, AZ	2.0	2.0	1092	$2,100	$1.92	24d	1	0.96mi
6015 W Olive Ave Glendale, AZ	2.0	1.0	800	$1,500	$1.88	1d	16	1.07mi
6002 W Townley Ave Glendale, AZ	3.0	1.5	1026	$1,549	$1.51	1d	1	1.11mi
6011 W Townley Ave Glendale, AZ	2.0	1.5	1026	$1,449	$1.41	1d	1	1.12mi
8622 N 59th Ave Glendale, AZ	2.0–3.0	2.0	1232	$1,450	$1.18	1d	6	1.21mi
8546 N 59th Ave Glendale, AZ	2.0	1.0–2.0	700	$1,975	$2.82	20d	6	1.21mi
8546 N 59th Ave Glendale, AZ	2.0	1.0–2.0	700	$1,235	$1.76	1d	9	1.21mi
8315 N 61st Ave Glendale, AZ	2.0	1.0	900	$1,004	$1.12	1d	1	1.23mi
8530 N 59th Ave Glendale, AZ	1.0	0.5–1.0	690	$1,057	$1.53	1d	3	1.25mi
6049 W Laurie Ln Unit 5 Glendale, AZ	2.0	1.0	750	$1,210	$1.61	1d	1	1.26mi
6049 W Laurie Ln Unit 7 Glendale, AZ	1.0	1.0	650	$1,050	$1.62	1d	1	1.26mi
6049 W Laurie Ln Unit 4 Glendale, AZ	1.0	1.0	675	$1,100	$1.63	10d	1	1.26mi
6043 W Laurie Ln Apt 4 Glendale, AZ	1.0	1.0	675	$1,050	$1.56	11d	1	1.27mi
8319 N 60th Dr Glendale, AZ	2.0	1.0	787	$1,099	$1.40	1d	1	1.28mi
8546 N 59th Ave Apt 248 Glendale, AZ	2.0	2.0	900	$1,366	$1.52	20d	1	1.28mi
7951 W Whitney Dr Peoria, AZ	2.0–4.0	2.0–2.5	1411	$2,163	$1.53	1d	30	1.33mi
8546 N 59th Ave Apt 206 Glendale, AZ	1.0	1.0	700	$1,056	$1.51	20d	1	1.34mi
8450 N 59th Ave Glendale, AZ	1.0–3.0	1.0–2.0	919	$1,824	$1.99	5d	1	1.34mi
6060 W Royal Palm Rd Glendale, AZ	1.0	1.0	543	$1,146	$2.11	1d	4	1.35mi

Listing history 4 events

1. 2026-05-13
   historical Under Contract Accepting Backups 799-char remark

   Show marketing remark (799 chars)

   ON LEASED LAND: Motivated Seller Step inside this beautiful 2 bedroom 2 bath split floorplan manufactured home located in a gated 55 plus age restricted community. You will find a large enclosed area(formerly screened in) large enough for another wonderful sitting area, sq ft not included in home. Enter in the home to find a large open front room that opens to the kitchen and dining area. Kitchen features a gas range, granite countertops, stainless steel dishwasher. Fridge is negotiable. Bedrooms are split. The one in the front has full bath off of it which also opens to the hall. The primary bedroom located at the rear of the home has full bath with separate tub and shower. Carport for 2 vehicles. Community is an active adult community with pool ,spa, pickleball, and mor

2. 2026-03-31
   price $31,000 799-char remark

   Show marketing remark (799 chars)

   ON LEASED LAND: Motivated Seller Step inside this beautiful 2 bedroom 2 bath split floorplan manufactured home located in a gated 55 plus age restricted community. You will find a large enclosed area(formerly screened in) large enough for another wonderful sitting area, sq ft not included in home. Enter in the home to find a large open front room that opens to the kitchen and dining area. Kitchen features a gas range, granite countertops, stainless steel dishwasher. Fridge is negotiable. Bedrooms are split. The one in the front has full bath off of it which also opens to the hall. The primary bedroom located at the rear of the home has full bath with separate tub and shower. Carport for 2 vehicles. Community is an active adult community with pool ,spa, pickleball, and mor

3. 2026-02-25
   price $32,000 799-char remark

   Show marketing remark (799 chars)

   ON LEASED LAND: Motivated Seller Step inside this beautiful 2 bedroom 2 bath split floorplan manufactured home located in a gated 55 plus age restricted community. You will find a large enclosed area(formerly screened in) large enough for another wonderful sitting area, sq ft not included in home. Enter in the home to find a large open front room that opens to the kitchen and dining area. Kitchen features a gas range, granite countertops, stainless steel dishwasher. Fridge is negotiable. Bedrooms are split. The one in the front has full bath off of it which also opens to the hall. The primary bedroom located at the rear of the home has full bath with separate tub and shower. Carport for 2 vehicles. Community is an active adult community with pool ,spa, pickleball, and mor

4. 2025-11-21
   listed $33,500 Active 799-char remark

   Show marketing remark (799 chars)

   ON LEASED LAND: Motivated Seller Step inside this beautiful 2 bedroom 2 bath split floorplan manufactured home located in a gated 55 plus age restricted community. You will find a large enclosed area(formerly screened in) large enough for another wonderful sitting area, sq ft not included in home. Enter in the home to find a large open front room that opens to the kitchen and dining area. Kitchen features a gas range, granite countertops, stainless steel dishwasher. Fridge is negotiable. Bedrooms are split. The one in the front has full bath off of it which also opens to the hall. The primary bedroom located at the rear of the home has full bath with separate tub and shower. Carport for 2 vehicles. Community is an active adult community with pool ,spa, pickleball, and mor

ⓘ 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: $17,939
• − Mortgage interest: −$1,736
• − Property taxes: −$465
• − Insurance: −$155
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$902
• Taxable income: $11,810
• Est. tax owed @ 24.0%: −$2,834
• After-tax cash flow: $8,766/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 · 7 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and increase its value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major bathroom wallpaper — Significant damage and peeling
• Minor kitchen countertops — Cluttered and could be cleaned

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Resale Replace bathroom wallpaper — Modernizes the space and adds value
• Both Replace kitchen countertops — Improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
bathroom wallpaper · Significant damage and peeling	Major	$15,000–50,000
kitchen countertops · Cluttered and could be cleaned	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Resale Replace bathroom wallpaper — Modernizes the space and adds value ↑
• Both Replace kitchen countertops — Improves functionality and aesthetics ↑

ⓘ 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

-7.5% since first listed

4 events — show timeline

• 2026-05-13 Contingent — ARMLS
• 2026-03-31 Price Changed $31,000 ARMLS
• 2026-02-25 Price Changed $32,000 ARMLS
• 2025-11-21 Listed $33,500 ARMLS