16005 N 32nd St #66 · Phoenix, AZ 85032

$22,000

1 bd · 1.0 ba · 753 sqft · Manufactured · 28 Days on market

Built 1980 1,200 sqft lot Est $26k · 17% under ↓ 51% 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 +15.0/30.0
• ARV discount +14.9/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

2000 down and we will carry the balance. Beautifully remodeled 1980 manufactured home in a quiet 55+ community on a leased lot. This move-in-ready home features a fully updated kitchen with new cabinets, butcher-block counters, fresh paint, and beadboard accents. New luxury vinyl flooring in the kitchen, utility room, and bath, plus new carpet in the living area and bedroom. Spacious layout with large windows, updated lighting, and clean, modern finishes. New HVAC system and tankless water heater provide efficiency and comfort. A great opportunity for low-maintenance living in a welcoming community. All electric!

Key facts

• New carpet
• Updated kitchen
• Updated lighting

Tags

• REMODELED MANUFACTURED HOME
• UPDATED KITCHEN
• BUTCHER-BLOCK COUNTERS
• NEW LUXURY VINYL FLOORING
• NEW CARPET
• UPDATED LIGHTING

Property features AI

Finance

• Other: Coin-op laundry (community amenity)
• Financial info: No association fees
• HOA & community: Land lease community with monthly land lease payment; Land lease: $1,100 per month; Community pool

Exterior

• Parking: 1 covered parking space; 1 open parking space; 1 carport space
• Utilities: Private well water; Sewer connected (private sewer)
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Metal siding and wood frame construction; Metal roof
• Exterior features: Shed(s); Gravel/stone front and back; Private maintained road; Asphalt road surface

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 1 bedroom (possible)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Mini split heating and cooling
• Interior features: Eat-in kitchen; Solar screens; Tankless hot water heater
• Laundry & utility: Washer/dryer hookup only; Coin-operated laundry available in community

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $22k.

Deal economics

• At list price, monthly cash flow is $847 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $22k (1.5% below list) — sets the bar for market timing.
• Cap rate 52.5% 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 soft (-1.5%/yr); 337 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $152 of loan paydown is wiped out by about $660 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 + 0.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $21,670 (1.5% below list)

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. 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?
3. 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.
4. 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.
5. 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: 5.75% ✓
• Cap rate: 52.51%
• Cash-on-cash: 165.07%
• DSCR: 8.34
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $26,355
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16207 N 34th Way	0.21mi	2/1.0 (+1)	801 (+6%)	6mo	$120,000	$150	70
16005 N 32nd St #8	0.03mi	2/1.0 (+1)	712 (-5%)	18mo	$25,000	$35	70
16005 N 32nd St #121	0.06mi	1/1.0	800 (+6%)	22mo	$15,000	$19	68

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: 8.58×
• Total profit: $46,716
• Equity at exit: $3,280

10-year hold

• IRR: —
• Equity multiple: 16.57×
• Total profit: $95,923
• Equity at exit: $1,902

Cash invested: $6,160 (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 85032

• Rents YoY: -1.5%
• Active inventory: 337
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,265 high
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$28 /mo · $330/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $847

Break-even live

Break-even rent $192

Max offer price $22,000

Occupancy floor 28%

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16005 N 32nd St #148 Phoenix, AZ	2.0	2.0	780	$1,549	$1.99	24d	1	0.04mi
15826 N 32nd St Phoenix, AZ	2.0	1.0–2.0	611	$1,180	$1.93	7d	25	0.21mi
13440 N 44th St Unit 1 Phoenix, AZ	1.0	1.0	783	$1,441	$1.84	7d	1	0.34mi
13440 N 44th St Unit 2 Phoenix, AZ	2.0	2.0	1102	$1,748	$1.59	10d	1	0.34mi
15434 N 32nd St Phoenix, AZ	1.0–2.0	1.0–2.0	835	$1,015	$1.22	1d	8	0.34mi
3027 E Grandview Rd Unit 3027-B Phoenix, AZ	2.0	1.0	912	$1,375	$1.51	7d	1	0.39mi
16225 N 30th St #9 Phoenix, AZ	2.0	1.5	968	$1,350	$1.39	24d	1	0.39mi
16402 N 31st St #119 Phoenix, AZ	2.0	2.0	933	$1,375	$1.47	17d	1	0.44mi
16402 N 31st St #119 Phoenix, AZ	2.0	2.0	933	$1,375	$1.47	3d	1	0.44mi
15801 N 29th St #1 Phoenix, AZ	2.0	2.0	1108	$1,650	$1.49	21d	1	0.44mi
15601 N 30th St Unit 5 Phoenix, AZ	2.0	2.0	950	$1,375	$1.45	14d	1	0.45mi
16645 N 31st St Phoenix, AZ	2.0	1.0	483	$1,297	$2.68	1d	6	0.52mi
2846 E Kathleen Rd Phoenix, AZ	2.0	2.0	1106	$949	$0.86	24d	1	0.53mi
2846 E Kathleen Rd Unit 103 Phoenix, AZ	2.0	1.5	1106	$949	$0.86	24d	1	0.53mi
15605 N 29th St Unit 15605UNIT10-1 Phoenix, AZ	2.0	1.0	850	$899	$1.06	24d	1	0.54mi
2931 E Beck Ln Apt 1 Phoenix, AZ	2.0	2.0	852	$1,175	$1.38	5d	1	0.54mi
2950 E Greenway Rd Phoenix, AZ	1.0–2.0	1.0	712	$1,075	$1.51	3d	7	0.55mi
2838 E Monte Cristo Ave Unit 102 Phoenix, AZ	1.0	1.0	780	$1,200	$1.54	7d	1	0.55mi
2837 E Marconi Ave Unit 102 Phoenix, AZ	1.0	1.0	700	$950	$1.36	24d	1	0.55mi
2837 E Marconi Ave Unit 203 Phoenix, AZ	2.0	1.0	900	$975	$1.08	24d	1	0.55mi
2826 E Monte Cristo Ave Phoenix, AZ	2.0	2.0	929	$1,295	$1.39	14d	1	0.57mi
2826 E Monte Cristo Ave Unit 203 Phoenix, AZ	2.0	2.0	929	$1,295	$1.39	16d	1	0.57mi
2822 E Kathleen Rd Unit 203 Phoenix, AZ	2.0	2.0	850	$1,100	$1.29	5d	1	0.57mi
2845 E Tracy Ln #4 Phoenix, AZ	2.0	1.0	780	$1,750	$2.24	10d	1	0.58mi
2826 E Le Marche Ave Unit 102 Phoenix, AZ	1.0	1.0	725	$1,000	$1.38	5d	1	0.58mi
15417 N 29th St Phoenix, AZ	1.0–2.0	1.0	704	$1,050	$1.49	3d	4	0.58mi
2821 E Kathleen Rd Unit 101 Phoenix, AZ	2.0	1.5	1106	$900	$0.81	24d	1	0.59mi
2821 E Kathleen Rd Phoenix, AZ	2.0	2.0	1106	$900	$0.81	24d	1	0.59mi
2819 E Marconi Ave Unit 201 Phoenix, AZ	2.0	2.0	900	$950	$1.06	24d	1	0.61mi
2814 E Kathleen Rd #102 Phoenix, AZ	1.0	1.0	700	$950	$1.36	24d	1	0.61mi
2807 E Monte Cristo Ave Unit 102 Phoenix, AZ	2.0	2.0	900	$865	$0.96	24d	1	0.62mi
2807 E Le Marche Ave Apt 203 Phoenix, AZ	2.0	2.0	884	$995	$1.13	24d	1	0.62mi
2802 E Monte Cristo Ave Unit 102 Phoenix, AZ	1.0	1.0	929	$950	$1.02	24d	1	0.63mi
2848 E Greenway Rd Phoenix, AZ	2.0	1.0	750	$1,350	$1.80	24d	1	0.64mi
3420 E Bell Rd Phoenix, AZ	2.0	1.0–2.0	863	$1,854	$2.15	3d	20	0.66mi
16815 N 29th St Phoenix, AZ	2.0	1.0	850	$1,050	$1.23	16d	3	0.67mi
16815 N 29th St Phoenix, AZ	2.0	1.0	850	$1,199	$1.41	24d	1	0.67mi
16815 N 29th St Apt 146 Phoenix, AZ	2.0	1.0	850	$999	$1.18	24d	1	0.70mi
15651 N 27th St Phoenix, AZ	1.0–2.0	1.0–2.0	878	$950	$1.08	24d	1	0.72mi
16816 N 29th St Apt 202 Phoenix, AZ	2.0	2.0	800	$1,100	$1.38	7d	1	0.74mi

Listing history 26 events

1. 2026-06-18
   days on market $22,000 Active 28 DOM
2. 2026-06-17
   days on market $22,000 Active 27 DOM
3. 2026-06-16
   days on market $22,000 Active 26 DOM
4. 2026-06-15
   days on market $22,000 Active 25 DOM
5. 2026-06-13
   days on market $22,000 Active 23 DOM
6. 2026-06-13
   days on market $22,000 Active 22 DOM
7. 2026-06-09
   days on market $22,000 Active 19 DOM
8. 2026-06-08
   days on market $22,000 Active 18 DOM
9. 2026-06-07
   days on market $22,000 Active 17 DOM
10. 2026-06-04
    days on market $22,000 Active 14 DOM
11. 2026-06-03
    days on market $22,000 Active 13 DOM
12. 2026-06-02
    days on market $22,000 Active 12 DOM
13. 2026-06-01
    days on market $22,000 Active 11 DOM
14. 2026-05-31
    days on market $22,000 Active 10 DOM
15. 2026-05-21
    listed $22,000 Active
16. 2026-05-01
    historical
17. 2026-04-17
    price $19,000
18. 2026-03-20
    price $22,500
19. 2026-03-17
    price $24,500
20. 2026-02-27
    price $28,900
21. 2026-02-13
    price $34,900
22. 2026-02-05
    price $39,000
23. 2026-01-21
    price $42,500
24. 2026-01-04
    price $45,000
25. 2025-12-29
    price $42,500
26. 2025-11-24
    listed $45,000 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 1/10 Low
• 🌡 Heat 8/10 Severe 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: $15,181
• − Mortgage interest: −$1,232
• − Property taxes: −$330
• − Insurance: −$110
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$640
• Taxable income: $10,440
• Est. tax owed @ 24.0%: −$2,505
• After-tax cash flow: $7,663/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): 70,839
• Household income: $78,643
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 2887.0

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 0.57)
• Race & ethnicity: White 59% Hispanic / Latino 29% Two or more races 17% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Romanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 18% · Canada, China
• Languages at home: 71% English-only · Spanish 21% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -488.65%
• Current HPI: 339.4181
• Rent YoY: ▼ -1.46%
• 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

-51.1% since first listed

12 events — show timeline

• 2026-05-21 Listed $22,000 ARMLS
• 2026-05-01 Listing Removed — ARMLS
• 2026-04-17 Price Changed $19,000 ARMLS
• 2026-03-20 Price Changed $22,500 ARMLS
• 2026-03-17 Price Changed $24,500 ARMLS
• 2026-02-27 Price Changed $28,900 ARMLS
• 2026-02-13 Price Changed $34,900 ARMLS
• 2026-02-05 Price Changed $39,000 ARMLS
• 2026-01-21 Price Changed $42,500 ARMLS
• 2026-01-04 Price Changed $45,000 ARMLS
• 2025-12-29 Price Changed $42,500 ARMLS
• 2025-11-24 Listed $45,000 ARMLS