19602 N 32nd St #6 · Phoenix, AZ 85050

$73,000

4 bd · 2.0 ba · 1,680 sqft · Manufactured · 33 Days on market

Built 1993 Fair condition

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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
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This large 4-bedroom, 2-bath manufactured home located in the all-ages gated community of Carefree Manor. The open floor plan combined with vaulted ceilings offers an abundance of space which you will notice right away! Wood and carpet flooring throughout. Separate living and family room. The kitchen is bright with abundant tile countertop space. Sky light. Separate kitchen sinks for washing food, Breakfast bar for extra seating. The dining area is next to the kitchen. Separate large Family room. Three large sized bedrooms. Updated hallway bathroom with walk in shower. The Primary bedroom room was expanded a little into the living room to include a larger area for a second closet, storag

Key facts

• Gated community
• Open floor plan
• Vaulted ceilings

Tags

• GATED COMMUNITY
• OPEN FLOOR PLAN
• VAULTED CEILINGS
• ABUNDANT TILE COUNTERTOP SPACE
• BREAKFAST BAR
• UPDATED HALLWAY BATHROOM

Property features AI

Finance

• Financial info: Current financing: Non-assumable
• HOA & community: Land lease ($944 monthly); Association includes grounds maintenance; Community pool; Gated community; Community spa (heated); Community laundry (coin-op); Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: City water; Public sewer; 220V in kitchen
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Wood siding; Steel frame; Painted exterior; Composition roof
• Exterior features: Heated spa; East/West exposure; Gravel/stone front and back; Private maintained road; Asphalt road surface

Interior

• Kitchen: Dishwasher; Disposal; Built-in electric oven; 220V outlet in kitchen
• Bedrooms: Up to 4 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fan(s)
• Interior features: High-speed internet; Eat-in kitchen; Breakfast bar; Vaulted ceilings; Full bath in master bedroom; Skylight(s)
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $73k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $73k).
• Recommended offer: $71k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.8% 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.
• Zoned schools: Fireside Elementary School (math 76% / reading 80%, grade A, #19 of 1,109 statewide, top 2%, 730 students, 5% FRL); Mountain Trail Middle School (math 33% / reading 41%, grade F, #57 of 218 statewide, top 27%, 680 students, 24% FRL); Pinnacle High School (math 49% / reading 54%, grade D+, #35 of 381 statewide, top 9%, 2,479 students, 8% FRL) — zoned schools average 12% FRL vs 29% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 56% at this address vs 42% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Paradise Valley Unified District (4241) average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.0%/yr); 218 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $505 of loan paydown is wiped out by about $2k 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 + 2.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($71k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,810 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.78% ✓
• Cap rate: 33.80%
• Cash-on-cash: 98.23%
• DSCR: 5.37
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $260,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2956 E Sequoia Dr	0.14mi	3/2.0 (-1)	1,680 (0%)	10mo	$260,000	$155	80
19602 N 32nd St #35	0.00mi	3/2.0 (-1)	1,586 (-6%)	9mo	$105,000	$66	78
19802 N 32nd St #98	0.14mi	3/2.0 (-1)	1,614 (-4%)	5mo	$65,000	$40	78
2954 E Marco Polo Rd	0.21mi	3/2.0 (-1)	1,662 (-1%)	14mo	$333,000	$200	72
2929 E Sequoia Dr	0.21mi	3/2.0 (-1)	1,821 (+8%)	5mo	$310,000	$170	67
3013 E Beardsley Rd	0.34mi	3/2.0 (-1)	1,796 (+7%)	2mo	$172,500	$96	66
19602 N 32nd St #4	0.00mi	3/2.0 (-1)	1,511 (-10%)	16mo	$155,000	$103	65
2955 E Piute Ave	0.17mi	3/2.0 (-1)	1,456 (-13%)	14mo	$320,000	$220	54
19802 N 32nd St N #150	0.14mi	3/2.0 (-1)	1,450 (-14%)	15mo	$93,000	$64	53
2839 E Marco Polo Rd	0.36mi	5/3.0 (+1)	1,490 (-11%)	3mo	$310,000	$208	53
2952 E Wahalla Ln	0.29mi	4/2.0	1,441 (-14%)	14mo	$178,000	$124	51
2801 E Wahalla Ln	0.43mi	3/2.0 (-1)	1,456 (-13%)	6mo	$327,500	$225	48

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 · 1.98% rent growth · sell at horizon

5-year hold

• IRR: 98.1%
• Equity multiple: 5.50×
• Total profit: $91,976
• Equity at exit: $10,885

10-year hold

• IRR: —
• Equity multiple: 11.09×
• Total profit: $206,221
• Equity at exit: $6,312

Cash invested: $20,440 (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 85050

• Home prices YoY: -21.9%
• Rents YoY: 2.0%
• Active inventory: 218
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,757 high
• Mortgage (P&I): −$383
• Tax est. 1.5%: −$91 /mo · $1,095/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $1,673

Break-even live

Break-even rent $639

Max offer price $73,000

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19246 N 31st St Phoenix, AZ	4.0	2.0	1370	$2,375	$1.73	8d	1	0.22mi
3133 E Kristal Way Phoenix, AZ	3.0	2.5	1602	$2,600	$1.62	2d	1	0.27mi
3002 E Jeanette Ct Phoenix, AZ	3.0	2.0	1748	$2,700	$1.54	18d	1	0.32mi
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	22d	1	0.32mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	15d	1	0.36mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	24d	1	0.36mi
19532 N 27th Pl Phoenix, AZ	5.0	3.5	2033	$3,200	$1.57	15d	1	0.39mi
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,300	$1.57	1d	1	0.40mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	13d	1	0.40mi
19460 N 27th Pl Phoenix, AZ	4.0	2.0	1598	$3,300	$2.07	44d	1	0.40mi
3039 E Hononegh Dr Phoenix, AZ	3.0	2.0	1520	$2,075	$1.37	15d	1	0.44mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	2d	1	0.44mi
2636 E Tonto Ln Phoenix, AZ	3.0	2.0	1850	$2,800	$1.51	24d	1	0.46mi
3321 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1564	$2,495	$1.60	3d	1	0.50mi
3415 E Menadota Dr Phoenix, AZ	3.0	2.5	1814	$2,550	$1.41	15d	1	0.56mi
3301 E Wescott Dr Phoenix, AZ	3.0	2.0	1101	$1,995	$1.81	24d	1	0.58mi
18626 N 29th Pl Phoenix, AZ	4.0	2.0	1600	$2,995	$1.87	8d	1	0.64mi
19654 N 36th St Phoenix, AZ	3.0	2.0	1638	$2,600	$1.59	18d	1	0.66mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,933	$1.93	2d	22	0.69mi
18617 N 35th St Phoenix, AZ	3.0	2.5	1425	$2,400	$1.68	11d	1	0.84mi
2336 E Utopia Rd Phoenix, AZ	2.0–3.0	2.5	1327	$2,395	$1.80	5d	1	0.85mi
2335 E Utopia Rd Unit 16 Phoenix, AZ	3.0	2.5	1426	$2,550	$1.79	18d	1	0.86mi
3708 E Kerry Ln Phoenix, AZ	3.0	2.5	1819	$3,100	$1.70	24d	1	0.87mi
3745 E Kerry Ln Phoenix, AZ	3.0	2.5	1818	$2,250	$1.24	18d	1	0.93mi
3771 E Kristal Way Phoenix, AZ	4.0	2.5	1821	$2,995	$1.64	24d	1	0.95mi
2755 E Michigan Ave Phoenix, AZ	3.0	2.0	1316	$2,700	$2.05	18d	1	0.98mi
2239 E Morrow Dr Phoenix, AZ	3.0	3.0	1545	$2,199	$1.42	3d	1	1.03mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$2,233	$2.61	3d	62	1.04mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,955	$2.03	2d	11	1.05mi
3706 E Potter Dr Phoenix, AZ	4.0	2.0	1782	$2,550	$1.43	24d	1	1.09mi
3706 E Potter Dr Phoenix, AZ	4.0	2.0	1782	$2,550	$1.43	22d	1	1.09mi
3626 E Potter Dr Phoenix, AZ	3.0	2.0	1519	$2,500	$1.65	24d	1	1.09mi
20729 N 37th Way Phoenix, AZ	3.0	2.0	1670	$3,000	$1.80	15d	1	1.11mi
20053 N 21st Pl Phoenix, AZ	4.0	2.0	1754	$3,300	$1.88	24d	1	1.12mi
2719 E Charleston Ave Phoenix, AZ	3.0	1.5	1670	$1,891	$1.13	22d	1	1.14mi
18611 N 22nd St #72 Phoenix, AZ	3.0	2.5	1851	$2,200	$1.19	15d	1	1.14mi
18611 N 22nd St Phoenix, AZ	3.0	3.0	1851	$2,200	$1.19	13d	1	1.14mi
2104 E Behrend Dr Phoenix, AZ	4.0	2.5	2070	$2,975	$1.44	3d	1	1.15mi
3906 E Kimberly Way Phoenix, AZ	4.0	2.5	1924	$2,850	$1.48	5d	1	1.16mi
3902 E Rosemonte Dr Phoenix, AZ	3.0	2.5	1924	$8,500	$4.42	24d	1	1.18mi

Listing history 15 events

1. 2026-06-18
   days on market $73,000 Active 33 DOM
2. 2026-06-17
   days on market $73,000 Active 32 DOM
3. 2026-06-16
   days on market $73,000 Active 31 DOM
4. 2026-06-15
   days on market $73,000 Active 30 DOM
5. 2026-06-13
   days on market $73,000 Active 28 DOM
6. 2026-06-13
   days on market $73,000 Active 27 DOM
7. 2026-06-09
   days on market $73,000 Active 24 DOM
8. 2026-06-08
   days on market $73,000 Active 23 DOM
9. 2026-06-07
   days on market $73,000 Active 22 DOM
10. 2026-06-04
    days on market $73,000 Active 19 DOM
11. 2026-06-03
    days on market $73,000 Active 18 DOM
12. 2026-06-02
    days on market $73,000 Active 17 DOM
13. 2026-06-01
    days on market $73,000 Active 16 DOM
14. 2026-05-31
    days on market $73,000 Active 15 DOM
15. 2026-05-16
    listed $73,000 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,078
• − Mortgage interest: −$4,089
• − Property taxes: −$1,095
• − Insurance: −$365
• − Repairs & maintenance: −$2,646
• − Management: −$2,646
• − Depreciation: −$2,124
• Taxable income: $20,113
• Est. tax owed @ 24.0%: −$4,827
• After-tax cash flow: $15,251/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

Fair 45/100 Moderate rehab

The home is in fair condition with moderate rehab needed, primarily focusing on updating the interior and flooring to enhance its resale and rental value.

Repairs flagged

• Minor carpet in living areas — worn and could be replaced
• Minor paint on interior walls — appears worn and could be refreshed

Value-add opportunities

• Resale paint interior walls — refreshes the home's appearance
• Resale replace carpet in living areas — improves comfort and appeal
• Both install new flooring in kitchen — enhances both resale and rental value
• Both update kitchen cabinets — enhances both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
carpet in living areas · worn and could be replaced	Minor	$500–3,000
paint on interior walls · appears worn and could be refreshed	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale paint interior walls — refreshes the home's appearance ↑
• Resale replace carpet in living areas — improves comfort and appeal ↑
• Both install new flooring in kitchen — enhances both resale and rental value ↑
• Both update kitchen cabinets — enhances both resale and rental value ↑

ⓘ 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: 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): 33,118
• Household income: $139,836
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 432.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Two or more races 11% Asian 9% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Italian 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 5% Other Asian/Pacific 2%

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: ▼ -86.38%
• Current HPI: 308.7483
• Rent YoY: ▲ 1.98%
• 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

• 2026-05-16 Listed $73,000 ARMLS