1150 N Delaware Dr #25 · Apache Junction, AZ 85120

$32,000

2 bd · 1.5 ba · 720 sqft · Manufactured · 86 Days on market

Manufactured home 55+ age-restricted Built 1969 Good condition $44/sqft · 56% below area ↓ 24% since listing

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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 +22.5/30.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Appreciation +2.5/10.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Manufactured-home adj. -4.6

Listing remarks

Well maintained home in this smaller 104 unit 55+ community. One road in and one road out! Very reasonable lot rent of $530 monthly! Amenities include club house with pool table, community kitchen and 2 pet parks. Showers available at club house for RV'ers. More photos to come.

Key facts

• 2 parking spots
• Built 1969
• Listed 86 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $32k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $32k).
• Recommended offer: $30k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.8% vs local median 3.0% 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+, amenities F, commute 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.
• Zoned schools: Four Peaks Elementary School (math 12% / reading 17%, grade F, #898 of 1,109 statewide, top 83%, 498 students, 73% FRL); Cactus Canyon Junior High (math 14% / reading 19%, grade F, #151 of 218 statewide, top 70%, 702 students, 50% FRL); Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents falling (-3.5%/yr); 772 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 68d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $221 of loan paydown is wiped out by about $960 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.04% ✓
• Cap rate: 26.79%
• Cash-on-cash: 73.21%
• DSCR: 4.26
• GRM: 2.7

CMA / ARV

• ARV (median comp): $72,141
• List price: $32,000
• Delta: -55.64%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2338 W Shiprock St	0.24mi	2/1.5	721 (+0%)	12mo	$250,000	$347	79
929 N Delaware Dr #25	0.21mi	1/1.0 (-1)	730 (+1%)	11mo	$27,000	$37	72
1030 N Delaware Dr #17	0.09mi	2/1.0	780 (+8%)	11mo	$16,000	$21	71
2570 W Scenic St	0.46mi	2/1.0	724 (+1%)	15mo	$220,000	$304	63
1922 N Desert View Dr	0.48mi	2/1.0	660 (-8%)	4mo	$130,000	$197	59
2760 W Tepee St	0.35mi	2/1.0	673 (-6%)	20mo	$165,000	$245	54
2325 W Virginia St Unit V34	0.51mi	2/1.5	700 (-3%)	22mo	$47,000	$67	54
1804 W Tepee St #54	0.59mi	1/1.0 (-1)	714 (-1%)	20mo	$38,000	$53	48
453 N Saguaro Dr	0.69mi	2/1.0	673 (-6%)	12mo	$129,000	$192	44
1804 W Tepee St #64	0.59mi	2/1.5	784 (+9%)	19mo	$39,000	$50	42

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: 69.5%
• Equity multiple: 3.99×
• Total profit: $26,798
• Equity at exit: $4,771

10-year hold

• IRR: 72.7%
• Equity multiple: 7.39×
• Total profit: $57,220
• Equity at exit: $2,767

Cash invested: $8,960 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 3 under contract
• Months of supply: 19.5 mo (5%/mo absorbed)
• Median asking: $39,000 ($54/sqft)
• Median days on market: 91 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: +87.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 772
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $972 high
• Mortgage (P&I): −$168
• Tax est. 1.5%: −$40 /mo · $480/yr
• Insurance: −$13
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $547

Break-even live

Break-even rent $280

Max offer price $32,000

Occupancy floor 39%

Sensitivity live

Price	-10% $569	-5% $558	+0% $547	+5% $536	+10% $525
Rent	-10% $470	-5% $508	+0% $547	+5% $585	+10% $623
Rate	-1.0pp $563	-0.5pp $555	base $547	+0.5pp $538	+1.0pp $530

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: $8,000
• Closing costs: $960
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1030 N Delaware Dr Unit 30 Apache Junction, AZ	2.0	1.0	624	$995	$1.59	67d	1	0.06mi
853 N Main Dr Apache Junction, AZ	1.0–2.0	1.5–2.0	829	$1,800	$2.17	10d	7	0.45mi
2055 W Gregory St Apache Junction, AZ	2.0	1.0	481	$1,050	$2.18	19d	1	0.64mi
151 N Palo Verde Dr Unit 7 Apache Junction, AZ	1.0	1.0	400	$1,100	$2.75	75d	1	0.74mi
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	115d	1	0.75mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	119d	1	0.75mi
1211 W Apache Trl Unit L Apache Junction, AZ	1.0	1.0	515	$895	$1.74	24d	1	1.09mi
1211 W Apache Trl Unit B Apache Junction, AZ	1.0	1.0	515	$795	$1.54	24d	1	1.09mi
677 S Warner Dr Unit 3 Apache Junction, AZ	1.0	1.0	400	$900	$2.25	34d	1	1.10mi
561 S Meridian Rd Unit 1 Apache Junction, AZ	2.0	1.0	700	$1,099	$1.57	120d	1	1.10mi
715 S Smythe Dr Unit A Apache Junction, AZ	1.0	1.0	420	$1,600	$3.81	49d	1	1.17mi
800 W Apache Trl Lot 38 Apache Junction, AZ	2.0	1.0	560	$1,129	$2.02	73d	1	1.34mi
960 S Mara Dr Unit 960-1 Apache Junction, AZ	2.0	1.0	682	$1,375	$2.02	67d	1	1.37mi
960 S Mara Dr Unit 1 Apache Junction, AZ	2.0	1.0	684	$1,350	$1.97	60d	1	1.37mi
960 S Mara Dr Unit 1 Apache Junction, AZ	2.0	1.0	682	$1,450	$2.13	108d	1	1.37mi
1008 S Mara Dr Apache Junction, AZ	2.0	1.0	700	$1,495	$2.14	19d	1	1.40mi
925 N Plaza Dr #92 Apache Junction, AZ	2.0	2.0	672	$1,449	$2.16	73d	1	1.43mi
925 N Plaza Dr #22 Apache Junction, AZ	1.0	1.0	540	$1,229	$2.28	67d	1	1.45mi
925 N Plaza Dr Lot 79 Apache Junction, AZ	1.0	1.0	385	$1,289	$3.35	24d	1	1.46mi

Property features AI

Finance

• HOA & community: Land lease communityLand lease fee $530 monthlyNo association fees listed

Exterior

• Parking: 1 covered parking space1 open parking space1 carport space
• Utilities: Septic (connected)Private water company
• Home design: Manufactured / mobile homeLeasehold ownership
• Construction: Metal sidingAluminum sidingWood frame constructionFoam roof
• Exterior features: StorageShed(s)Gravel/stone frontGravel/stone backPrivate maintained roadAsphalt road surface

Interior

• Kitchen: Built-in microwaveLaminate counters
• Bedrooms: Up to 3 possible bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Heat pump heating (electric)Central air conditioningCeiling fans
• Interior features: High speed internet availableEat-in kitchenBreakfast bar3/4 bath in master bedroomLaminate countertops
• Laundry & utility: Laundry: Other (unspecified)

Listing history 49 events

1. 2026-07-31
   days on market $32,000 Active 86 DOM
2. 2026-07-30
   days on market $32,000 Active 85 DOM
3. 2026-07-30
   days on market $32,000 Active 84 DOM
4. 2026-07-28
   days on market $32,000 Active 83 DOM
5. 2026-07-26
   days on market $32,000 Active 81 DOM
6. 2026-07-24
   days on market $32,000 Active 79 DOM
7. 2026-07-23
   days on market $32,000 Active 78 DOM
8. 2026-07-22
   days on market $32,000 Active 77 DOM
9. 2026-07-21
   days on market $32,000 Active 76 DOM
10. 2026-07-20
    days on market $32,000 Active 75 DOM
11. 2026-07-18
    days on market $32,000 Active 73 DOM
12. 2026-07-18
    days on market $32,000 Active 72 DOM
13. 2026-07-16
    days on market $32,000 Active 71 DOM
14. 2026-07-15
    days on market $32,000 Active 70 DOM
15. 2026-07-14
    days on market $32,000 Active 69 DOM
16. 2026-07-13
    days on market $32,000 Active 68 DOM
17. 2026-07-13
    days on market $32,000 Active 67 DOM
18. 2026-07-11
    days on market $32,000 Active 66 DOM
19. 2026-07-10
    days on market $32,000 Active 65 DOM
20. 2026-07-09
    days on market $32,000 Active 64 DOM
21. 2026-07-07
    days on market $32,000 Active 62 DOM
22. 2026-07-06
    days on market $32,000 Active 61 DOM
23. 2026-07-06
    days on market $32,000 Active 60 DOM
24. 2026-07-05
    days on market $32,000 Active 59 DOM
25. 2026-07-03
    days on market $32,000 Active 58 DOM
26. 2026-07-02
    days on market $32,000 Active 57 DOM
27. 2026-07-01
    days on market $32,000 Active 56 DOM
28. 2026-06-30
    days on market $32,000 Active 55 DOM
29. 2026-06-29
    days on market $32,000 Active 54 DOM
30. 2026-06-28
    days on market $32,000 Active 53 DOM
31. 2026-06-27
    days on market $32,000 Active 52 DOM
32. 2026-06-26
    days on market $32,000 Active 51 DOM
33. 2026-06-24
    days on market $32,000 Active 49 DOM
34. 2026-06-22
    days on market $32,000 Active 47 DOM
35. 2026-06-21
    days on market $32,000 Active 46 DOM
36. 2026-06-18
    days on market $32,000 Active 43 DOM
37. 2026-06-17
    days on market $32,000 Active 42 DOM
38. 2026-06-16
    days on market $32,000 Active 41 DOM
39. 2026-06-15
    days on market $32,000 Active 40 DOM
40. 2026-06-13
    days on market $32,000 Active 38 DOM
41. 2026-06-09
    days on market $32,000 Active 34 DOM
42. 2026-06-08
    days on market $32,000 Active 33 DOM
43. 2026-06-07
    days on market $32,000 Active 32 DOM
44. 2026-06-04
    days on market $32,000 Active 29 DOM
45. 2026-06-03
    days on market $32,000 Active 28 DOM
46. 2026-06-02
    days on market $32,000 Active 27 DOM
47. 2026-06-01
    days on market $32,000 Active 26 DOM
48. 2026-05-31
    days on market $32,000 Active 25 DOM
49. 2026-05-06
    listed $42,000 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 6/10 Major
• 🌡 Heat 8/10 Severe 5 d/yr ≥111°F today · 12 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: $11,663
• − Mortgage interest: −$1,792
• − Property taxes: −$480
• − Insurance: −$160
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$931
• Taxable income: $6,433
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $5,016/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $3,600–$10,800 screening

This well-maintained mobile home in a 55+ community is ready for a fresh coat of paint and new gutters to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace gutters — Improves drainage and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

Elementary Four Peaks Elementary School F AZ #898/1,109 Nat'l #36,758/41,679 Middle Cactus Canyon Junior High F AZ #151/218 Nat'l #12,406/14,009 High Apache Junction High School F AZ #267/381 Nat'l #15,534/17,239

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

C Composite livability gradescore 66/100

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 · 437,574 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: 14% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• HOA & community: Land lease communityLand lease fee $530 monthlyNo association fees listed

Exterior

• Parking: 1 covered parking space1 open parking space1 carport space
• Utilities: Septic (connected)Private water company
• Home design: Manufactured / mobile homeLeasehold ownership
• Construction: Metal sidingAluminum sidingWood frame constructionFoam roof
• Exterior features: StorageShed(s)Gravel/stone frontGravel/stone backPrivate maintained roadAsphalt road surface

Interior

• Kitchen: Built-in microwaveLaminate counters
• Bedrooms: Up to 3 possible bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Heat pump heating (electric)Central air conditioningCeiling fans
• Interior features: High speed internet availableEat-in kitchenBreakfast bar3/4 bath in master bedroomLaminate countertops
• Laundry & utility: Laundry: Other (unspecified)

Price history

-23.8% since first listed

2 events — show timeline

• 2026-05-25 Price Changed $32,000 ARMLS
• 2026-05-06 Listed $42,000 ARMLS