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

$32,000

2 bd · 1.5 ba · 720 sqft · Manufactured · 43 Days on market

Built 1969 Good condition Est $48k · 34% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

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 43 days

Property features AI

Finance

• HOA & community: Land lease community; Land lease fee $530 monthly; No association fees listed

Exterior

• Parking: 1 covered parking space; 1 open parking space; 1 carport space
• Utilities: Septic (connected); Private water company
• Home design: Manufactured / mobile home; Leasehold ownership
• Construction: Metal siding; Aluminum siding; Wood frame construction; Foam roof
• Exterior features: Storage; Shed(s); Gravel/stone front; Gravel/stone back; Private maintained road; Asphalt road surface

Interior

• Kitchen: Built-in microwave; Laminate counters
• Bedrooms: Up to 3 possible bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating (electric); Central air conditioning; Ceiling fans
• Interior features: High speed internet available; Eat-in kitchen; Breakfast bar; 3/4 bath in master bedroom; Laminate countertops
• Laundry & utility: Laundry: Other (unspecified)

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 $769 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 35.1% 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); 455 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 43 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $31,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 3.92% ✓
• Cap rate: 35.13%
• Cash-on-cash: 102.99%
• DSCR: 5.58
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $48,240
• Comps found: 12

Show comp detail 12 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%)	9mo	$250,000	$347	81
929 N Delaware Dr #25	0.21mi	1/1.0 (-1)	730 (+1%)	8mo	$27,000	$37	74
1030 N Delaware Dr #17	0.09mi	2/1.0	780 (+8%)	8mo	$16,000	$21	74
929 N Delaware Dr #15	0.21mi	2/1.0	720 (0%)	23mo	$21,000	$29	69
2570 W Scenic St	0.46mi	2/1.0	724 (+1%)	12mo	$220,000	$304	66
1922 N Desert View Dr	0.48mi	2/1.0	660 (-8%)	0mo	$130,000	$197	61
2760 W Tepee St	0.35mi	2/1.0	673 (-6%)	17mo	$165,000	$245	56
2325 W Virginia St Unit V34	0.51mi	2/1.5	700 (-3%)	19mo	$47,000	$67	56
351 N Meridian Rd #62	0.54mi	2/1.0	728 (+1%)	22mo	$22,000	$30	53
1804 W Tepee St #54	0.59mi	1/1.0 (-1)	714 (-1%)	17mo	$38,000	$53	50
453 N Saguaro Dr	0.69mi	2/1.0	673 (-6%)	9mo	$129,000	$192	47
1804 W Tepee St #64	0.59mi	2/1.5	784 (+9%)	16mo	$39,000	$50	44

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: —
• Equity multiple: 5.48×
• Total profit: $40,138
• Equity at exit: $4,771

10-year hold

• IRR: —
• Equity multiple: 10.36×
• Total profit: $83,900
• 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 →

ZIP-level market 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 455
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,253 medium
• Mortgage (P&I): −$168
• Tax est. 1.5%: −$40 /mo · $480/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $769

Break-even live

Break-even rent $280

Max offer price $32,000

Occupancy floor 34%

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
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	20d	1	0.75mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	24d	1	0.75mi
561 S Meridian Rd Unit 1 Apache Junction, AZ	2.0	1.0	700	$1,099	$1.57	24d	1	1.10mi
960 S Mara Dr Unit 1 Apache Junction, AZ	2.0	1.0	682	$1,450	$2.13	12d	1	1.37mi

Listing history 14 events

1. 2026-06-18
   days on market $32,000 Active 43 DOM
2. 2026-06-17
   days on market $32,000 Active 42 DOM
3. 2026-06-16
   days on market $32,000 Active 41 DOM
4. 2026-06-15
   days on market $32,000 Active 40 DOM
5. 2026-06-13
   days on market $32,000 Active 38 DOM
6. 2026-06-09
   days on market $32,000 Active 34 DOM
7. 2026-06-08
   days on market $32,000 Active 33 DOM
8. 2026-06-07
   days on market $32,000 Active 32 DOM
9. 2026-06-04
   days on market $32,000 Active 29 DOM
10. 2026-06-03
    days on market $32,000 Active 28 DOM
11. 2026-06-02
    days on market $32,000 Active 27 DOM
12. 2026-06-01
    days on market $32,000 Active 26 DOM
13. 2026-05-31
    days on market $32,000 Active 25 DOM
14. 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 5/10 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: $15,040
• − Mortgage interest: −$1,792
• − Property taxes: −$480
• − Insurance: −$160
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$931
• Taxable income: $9,270
• Est. tax owed @ 24.0%: −$2,225
• After-tax cash flow: $7,003/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

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

Renovation cost estimate screening

Value-add ROI direction

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

• 2026-05-06 Listed $42,000 ARMLS