2200 N Delaware Dr #76 · Apache Junction, AZ 85120

$125,000

4 bd · 2.0 ba · 1,800 sqft · Manufactured · 117 Days on market

Built 2005 4,824 sqft lot ↓ 19% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Move-In-Ready 4 Bedroom Home in a Sought-After All-Ages East Valley Community Motivated buyers searching for an updated, affordable, and low-maintenance home in the East Valley will appreciate this spacious 4-bedroom, 2-bath residence located in a highly desired all-ages mobile home park. Designed with a split floor plan, this home offers the perfect balance of privacy and functionality--ideal for household, seasonal residents, or anyone seeking versatile living space. Inside, you'll find luxury vinyl flooring, plush carpet in the bedrooms, and a clean, modern interior that's fully equipped with all appliances included, making your move-in seamless and stress-free. Recent updates add even

Key facts

• Modern interior
• Recent updates
• Split floor plan

Tags

• MOVE IN READY
• SPLIT FLOOR PLAN
• LUXURY VINYL FLOORING
• MODERN INTERIOR
• ALL APPLIANCES INCLUDED
• RECENT UPDATES

Property features AI

Finance

• HOA & community: Land lease of $700 per month; Association maintains grounds; Association rules prohibit visible trucks, trailers, RVs, and boats; Community pool; Playground

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold property
• Construction: Vertical siding; Steel frame construction; Painted exterior; Composition roof
• Exterior features: Gravel/stone front and back; Chain-link fencing; Private maintained road; Asphalt road surface

Interior

• Kitchen: Kitchen island; Laminate countertops; Pantry; Refrigerator; Dishwasher
• Bedrooms: Up to 4 possible bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Ceiling fans; Programmable thermostat; Has heating and cooling
• Interior features: High-speed internet; Double vanity in bathroom; Vaulted ceilings; Kitchen island; Pantry; Full bathroom in master bedroom; Separate shower and tub; Laminate countertops

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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+, 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); 468 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• At $2,414/mo this rent would consume 50% of the median local household income ($58k/yr) (locally 686% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.93% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.76%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $298,800
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 N Delaware Dr #19	0.00mi	3/2.0 (-1)	1,980 (+10%)	8mo	$137,000	$69	72
1943 N Main Dr	0.39mi	3/2.0 (-1)	1,729 (-4%)	5mo	$327,500	$189	66
1903 W Windsong St	0.36mi	3/2.0 (-1)	1,922 (+7%)	3mo	$145,000	$75	64
2762 W Smoketree St	0.37mi	3/2.0 (-1)	1,680 (-7%)	12mo	$324,000	$193	57
2687 W Foothill St	0.29mi	4/2.0	1,650 (-8%)	22mo	$300,000	$182	54
2292 N Ironwood Dr #112	0.52mi	4/1.8	1,568 (-13%)	14mo	$37,000	$24	42
1903 W Shiprock St	0.72mi	4/2.0	1,961 (+9%)	16mo	$326,000	$166	39
2625 W Manzanita St	0.68mi	3/2.0 (-1)	1,537 (-15%)	3mo	$104,000	$68	37

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: 28.0%
• Equity multiple: 2.12×
• Total profit: $39,132
• Equity at exit: $18,638

10-year hold

• IRR: 33.6%
• Equity multiple: 3.64×
• Total profit: $92,420
• Equity at exit: $10,808

Cash invested: $35,000 (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: 468
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,414 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $1,043

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,129	-5% $1,086	+0% $1,043	+5% $1,000	+10% $957
Rent	-10% $852	-5% $948	+0% $1,043	+5% $1,138	+10% $1,234
Rate	-1.0pp $1,106	-0.5pp $1,075	base $1,043	+0.5pp $1,011	+1.0pp $978

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1877 W Overland St Apache Junction, AZ	3.0	2.0	1420	$1,999	$1.41	18d	1	0.85mi
651 N Ironwood Dr Apache Junction, AZ	3.0	2.5	1748	$2,408	$1.38	7d	13	1.21mi

Listing history 23 events

1. 2026-06-21
   days on market $125,000 Active 117 DOM
2. 2026-06-18
   days on market $125,000 Active 114 DOM
3. 2026-06-17
   days on market $125,000 Active 113 DOM
4. 2026-06-16
   days on market $125,000 Active 112 DOM
5. 2026-06-15
   days on market $125,000 Active 111 DOM
6. 2026-06-13
   days on market $125,000 Active 109 DOM
7. 2026-06-09
   days on market $125,000 Active 105 DOM
8. 2026-06-08
   days on market $125,000 Active 104 DOM
9. 2026-06-07
   days on market $125,000 Active 103 DOM
10. 2026-06-04
    days on market $125,000 Active 100 DOM
11. 2026-06-03
    days on market $125,000 Active 99 DOM
12. 2026-06-02
    days on market $125,000 Active 98 DOM
13. 2026-06-01
    days on market $125,000 Active 97 DOM
14. 2026-05-31
    days on market $125,000 Active 96 DOM
15. 2026-04-27
    price $125,000
16. 2026-04-20
    price $120,000
17. 2026-04-12
    price $140,000
18. 2026-04-02
    price $145,000
19. 2026-02-23
    listed $155,000 Active
20. 2025-07-14
    historical
21. 2025-06-24
    status Active
22. 2025-02-28
    historical
23. 2025-01-31
    listed $155,000 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 9/10 Extreme 7 d/yr ≥111°F today · 18 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: $28,964
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − Depreciation: −$3,636
• Taxable income: $11,191
• Est. tax owed @ 24.0%: −$2,686
• After-tax cash flow: $9,829/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: 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

-19.4% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $125,000 ARMLS
• 2026-04-20 Price Changed $120,000 ARMLS
• 2026-04-12 Price Changed $140,000 ARMLS
• 2026-04-02 Price Changed $145,000 ARMLS
• 2026-02-23 Listed $155,000 ARMLS
• 2025-07-14 Listing Removed — ARMLS
• 2025-06-24 Relisted — ARMLS
• 2025-02-28 Listing Removed — ARMLS
• 2025-01-31 Listed $155,000 ARMLS