11201 N EL Mirage Rd #920 · El Mirage, AZ 85335

$138,500

2 bd · 2.0 ba · 1,400 sqft · Manufactured · 66 Days on market

Built 2000 Fair condition $99/sqft · 23% below area Est $180k · 23% 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

On Leased Land: Check out this lovely 2-bedroom mobile home on Golf course! Inside, you'll find an inviting great room filled with natural light, perfect for entertaining and relaxation, showcasing wood-look flooring, vaulted ceilings, and earthy colors. Whip up your signature dishes in the kitchen, equipped with ample cabinetry, plenty of counter space, and built-in appliances. The main bedroom promises a good night's sleep and hosts a closet with mirrored doors and a private bathroom for added comfort. Out back, you'll have a cozy covered patio perfect for morning coffee and outdoor dining. This gated adult community has so much to offer-visit the pool, spa, golf, workout facility, tennis court, and other amenities to fill your days with fun! Furnishings Included.

Key facts

• Ample cabinetry
• Covered patio
• Pool

Tags

• GOLF COURSE VIEWS
• GREAT ROOM
• AMPLE CABINETRY
• COVERED PATIO
• GATED ADULT COMMUNITY
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $138k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $130k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.5% in El Mirage — 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 63/100 on livability (#112 in AZ) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Dysart Unified District (4243) (suburban): math 34% / reading 40% proficiency, ranked #73 of 249 in AZ (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Luke Elementary School (math 26% / reading 32%, grade F, #570 of 1,109 statewide, top 52%, 623 students, 55% FRL); Dysart High School (math 23% / reading 32%, grade F, #139 of 381 statewide, top 36%, 1,433 students, 58% FRL) — zoned schools average 56% FRL vs 41% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 132 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $958 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $138k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $130,189 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. 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 D-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. 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: 1.27% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

• ARV (median comp): $180,000
• List price: $138,500
• Delta: -23.06%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11201 N EL Mirage Rd Unit G14	0.00mi	2/2.0	1,419 (+1%)	3mo	$199,999	$141	95
11201 N EL Mirage Rd #55	0.16mi	2/2.0	1,400 (0%)	2mo	$156,500	$112	91
11201 N EL Mirage Rd Unit G35	0.00mi	3/2.0 (+1)	1,429 (+2%)	10mo	$215,000	$150	84
11201 N EL Mirage Rd Unit F151	0.00mi	2/2.0	1,342 (-4%)	24mo	$160,000	$119	73
11201 N EL Mirage Rd #98	0.00mi	2/2.0	1,200 (-14%)	6mo	$121,000	$101	71
11201 N EL Mirage Rd #1256	0.16mi	2/1.8	1,200 (-14%)	19mo	$200,000	$167	52

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 · 0.08% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $304
• Equity at exit: $20,651

10-year hold

• IRR: 6.6%
• Equity multiple: 1.43×
• Total profit: $16,628
• Equity at exit: $11,975

Cash invested: $38,780 (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 85335

• Home prices YoY: -13.3%
• Rents YoY: 0.1%
• Active inventory: 132
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,763 high
• Mortgage (P&I): −$726
• Tax est. 1.5%: −$173 /mo · $2,078/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $436

Break-even live

Break-even rent $1,212

Max offer price $138,500

Occupancy floor 70%

Sensitivity live

Price	-10% $531	-5% $484	+0% $436	+5% $388	+10% $340
Rent	-10% $296	-5% $366	+0% $436	+5% $505	+10% $575
Rate	-1.0pp $506	-0.5pp $471	base $436	+0.5pp $400	+1.0pp $363

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: $34,625
• Closing costs: $4,155
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11825 W Altadena Ave El Mirage, AZ	3.0	2.0	1090	$1,710	$1.57	14d	1	0.47mi
11714 W Poinsettia Dr El Mirage, AZ	3.0	2.0	1238	$1,695	$1.37	45d	1	0.60mi
11801 W Paradise Dr El Mirage, AZ	3.0	2.0	1238	$1,700	$1.37	26d	1	0.62mi
11801 W Paradise Dr El Mirage, AZ	3.0	2.0	1238	$1,700	$1.37	0d	1	0.62mi
12621 W Cherry Hills Dr El Mirage, AZ	3.0	2.0	1238	$1,725	$1.39	26d	1	0.64mi
11922 N Olive St El Mirage, AZ	3.0	2.0	1090	$1,695	$1.56	6d	1	0.70mi
11934 N Olive St El Mirage, AZ	3.0	2.0	1238	$1,669	$1.35	7d	1	0.72mi
12701 W Cherry Hills Dr El Mirage, AZ	3.0	2.0	1090	$1,675	$1.54	0d	1	0.73mi
12701 W Cherry Hills Dr El Mirage, AZ	3.0	2.0	1090	$1,675	$1.54	26d	1	0.73mi
12563 W Charter Oak Rd El Mirage, AZ	3.0	2.0	1358	$1,749	$1.29	26d	1	0.74mi
12417 W Larkspur Rd El Mirage, AZ	3.0	2.0	1229	$2,025	$1.65	0d	1	0.77mi
12137 W Flores Dr El Mirage, AZ	3.0	2.0	1238	$1,760	$1.42	0d	1	0.77mi
11620 W Peoria Ave Youngtown, AZ	1.0–4.0	1.0–2.0	992	$1,495	$1.51	7d	1	0.77mi
12649 W Shaw Butte Dr El Mirage, AZ	3.0	2.0	1238	$1,755	$1.42	6d	1	0.78mi
11518 W Paradise Dr El Mirage, AZ	3.0	2.0	1238	$1,750	$1.41	26d	1	0.79mi
12005 W Scotts Dr El Mirage, AZ	3.0	2.0	1089	$1,775	$1.63	0d	1	0.80mi
12220 W Rosewood Dr El Mirage, AZ	3.0	2.0	1090	$1,665	$1.53	26d	1	0.85mi
12478 N Pablo St El Mirage, AZ	3.0	2.0	1518	$1,675	$1.10	26d	1	0.86mi
12478 N Pablo St El Mirage, AZ	3.0	2.0	1518	$1,675	$1.10	12d	1	0.86mi
12519 N Pablo St El Mirage, AZ	3.0	2.0	1225	$1,720	$1.40	45d	1	0.90mi
12648 N Main St El Mirage, AZ	3.0	2.0	1296	$1,699	$1.31	3d	1	0.94mi
10595 N 115th Dr Youngtown, AZ	3.0	2.0	1424	$1,794	$1.26	20d	1	0.94mi
12012 W Rosewood Dr El Mirage, AZ	3.0	2.5	1385	$1,595	$1.15	7d	1	0.94mi
11517 W Charter Oak Rd El Mirage, AZ	3.0	2.0	1296	$1,755	$1.35	17d	1	0.95mi
11517 W Charter Oak Rd El Mirage, AZ	3.0	2.0	1296	$1,885	$1.45	26d	1	0.95mi
12418 W Windrose Dr El Mirage, AZ	3.0	2.0	1106	$1,650	$1.49	26d	1	1.02mi
12071 W Dahlia Dr El Mirage, AZ	3.0	2.0	1089	$1,595	$1.46	20d	1	1.06mi
12112 W Dahlia Dr El Mirage, AZ	3.0	2.5	1385	$1,690	$1.22	45d	1	1.07mi
11327 W Kansas Ave Youngtown, AZ	3.0	2.0	1042	$1,725	$1.66	6d	1	1.07mi
12060 W Dahlia Dr El Mirage, AZ	3.0	2.0	1238	$1,595	$1.29	5d	1	1.10mi
11807 W Aster Dr El Mirage, AZ	2.0	1.0	1208	$1,419	$1.17	17d	1	1.13mi
11807 W Aster Dr El Mirage, AZ	2.0	1.0	1208	$1,529	$1.27	45d	1	1.13mi
12937 W Bloomfield Rd El Mirage, AZ	3.0	2.0	1588	$2,250	$1.42	45d	1	1.15mi
12901 N 127th Ln El Mirage, AZ	3.0	2.0	1615	$1,850	$1.15	0d	1	1.16mi
12521 W Myer Ln El Mirage, AZ	3.0	2.0	1410	$1,700	$1.21	45d	1	1.25mi
12541 W Myer Ln El Mirage, AZ	3.0	2.5	1794	$1,885	$1.05	7d	1	1.25mi
11634 W Vogel Ave Youngtown, AZ	3.0	2.0	1424	$1,799	$1.26	7d	1	1.25mi
11634 W Vogel Ave Youngtown, AZ	3.0	2.0	1424	$1,939	$1.36	23d	1	1.25mi
10180 N 116th Ln Youngtown, AZ	3.0	2.0	1730	$1,975	$1.14	26d	1	1.26mi
12410 W Pershing St El Mirage, AZ	3.0	2.5	1776	$1,700	$0.96	7d	1	1.27mi

Listing history 19 events

1. 2026-06-21
   days on market $138,500 Active 66 DOM
2. 2026-06-18
   days on market $138,500 Active 63 DOM
3. 2026-06-17
   days on market $138,500 Active 62 DOM
4. 2026-06-16
   days on market $138,500 Active 61 DOM
5. 2026-06-15
   days on market $138,500 Active 60 DOM
6. 2026-06-13
   days on market $138,500 Active 58 DOM
7. 2026-06-09
   days on market $138,500 Active 54 DOM
8. 2026-06-08
   days on market $138,500 Active 53 DOM
9. 2026-06-07
   days on market $138,500 Active 52 DOM
10. 2026-06-04
    days on market $138,500 Active 49 DOM
11. 2026-06-03
    days on market $138,500 Active 48 DOM
12. 2026-06-02
    days on market $138,500 Active 47 DOM
13. 2026-06-01
    days on market $138,500 Active 46 DOM
14. 2026-05-31
    days on market $138,500 Active 45 DOM
15. 2026-05-12
    price $138,500 776-char remark

    Show marketing remark (776 chars)

    On Leased Land: Check out this lovely 2-bedroom mobile home on Golf course! Inside, you'll find an inviting great room filled with natural light, perfect for entertaining and relaxation, showcasing wood-look flooring, vaulted ceilings, and earthy colors. Whip up your signature dishes in the kitchen, equipped with ample cabinetry, plenty of counter space, and built-in appliances. The main bedroom promises a good night's sleep and hosts a closet with mirrored doors and a private bathroom for added comfort. Out back, you'll have a cozy covered patio perfect for morning coffee and outdoor dining. This gated adult community has so much to offer-visit the pool, spa, golf, workout facility, tennis court, and other amenities to fill your days with fun! Furnishings Included.

16. 2026-04-13
    listed $149,000 Active 776-char remark

    Show marketing remark (776 chars)

    On Leased Land: Check out this lovely 2-bedroom mobile home on Golf course! Inside, you'll find an inviting great room filled with natural light, perfect for entertaining and relaxation, showcasing wood-look flooring, vaulted ceilings, and earthy colors. Whip up your signature dishes in the kitchen, equipped with ample cabinetry, plenty of counter space, and built-in appliances. The main bedroom promises a good night's sleep and hosts a closet with mirrored doors and a private bathroom for added comfort. Out back, you'll have a cozy covered patio perfect for morning coffee and outdoor dining. This gated adult community has so much to offer-visit the pool, spa, golf, workout facility, tennis court, and other amenities to fill your days with fun! Furnishings Included.

17. 2022-11-14
    soldstatus $89,000 Closed 481-char remark

    Show marketing remark (481 chars)

    If you are LOOKING for BEAUTIFUL GOLF COURSE VIEWS with a LOW MAINTENANCE LOT in a QUIET COMMUNITY with GREAT AMENITIES, then COME VISIT THIS LOVELY HOME*This is truly a LOCK AND LEAVE home*You will have a GUARD at GATE community with FULL TIME and PART TIME RESIDENCE*This home has a GREAT ROOM, open KITCHEN with UPGRADED APPLIANCES, two bedrooms and two bathrooms*Come by and take a look at the FAIRWAY and the FEATURES and you will see why you can CALL THIS PLACE YOUR ''HOME''

18. 2022-11-04
    status Pending 481-char remark

    Show marketing remark (481 chars)

    If you are LOOKING for BEAUTIFUL GOLF COURSE VIEWS with a LOW MAINTENANCE LOT in a QUIET COMMUNITY with GREAT AMENITIES, then COME VISIT THIS LOVELY HOME*This is truly a LOCK AND LEAVE home*You will have a GUARD at GATE community with FULL TIME and PART TIME RESIDENCE*This home has a GREAT ROOM, open KITCHEN with UPGRADED APPLIANCES, two bedrooms and two bathrooms*Come by and take a look at the FAIRWAY and the FEATURES and you will see why you can CALL THIS PLACE YOUR ''HOME''

19. 2022-11-01
    listed $95,500 Active 481-char remark

    Show marketing remark (481 chars)

    If you are LOOKING for BEAUTIFUL GOLF COURSE VIEWS with a LOW MAINTENANCE LOT in a QUIET COMMUNITY with GREAT AMENITIES, then COME VISIT THIS LOVELY HOME*This is truly a LOCK AND LEAVE home*You will have a GUARD at GATE community with FULL TIME and PART TIME RESIDENCE*This home has a GREAT ROOM, open KITCHEN with UPGRADED APPLIANCES, two bedrooms and two bathrooms*Come by and take a look at the FAIRWAY and the FEATURES and you will see why you can CALL THIS PLACE YOUR ''HOME''

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,158
• − Mortgage interest: −$7,758
• − Property taxes: −$2,078
• − Insurance: −$692
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − Depreciation: −$4,029
• Taxable income: $3,216
• Est. tax owed @ 24.0%: −$772
• After-tax cash flow: $4,457/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

This mobile home requires moderate repairs and maintenance to improve its condition and value. Painting the interior walls, replacing worn kitchen cabinets, and upgrading bathroom fixtures can significantly enhance its resale value.

Repairs flagged

• Minor kitchen cabinets — Blue cabinets show some wear.
• Minor bathroom fixtures — White fixtures appear slightly worn.
• Minor exterior siding — Light-colored siding shows some wear.
• Minor interior walls — Painted walls show some wear.
• Minor landscaping — Palm trees and a covered patio need trimming and maintenance.

Value-add opportunities

• Resale Paint the interior walls — Fresh paint can make a significant difference in the home's appearance.
• Resale Replace worn kitchen cabinets — New cabinets can improve the kitchen's functionality and aesthetics.
• Resale Upgrade bathroom fixtures — Modern fixtures can enhance the bathroom's appeal and functionality.
• Resale Paint exterior siding — Fresh paint can improve the home's curb appeal and value.
• Rental Trim and maintain landscaping — Well-maintained landscaping can attract tenants and improve the home's rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Blue cabinets show some wear.	Minor	$500–3,000
bathroom fixtures · White fixtures appear slightly worn.	Minor	$500–3,000
exterior siding · Light-colored siding shows some wear.	Minor	$500–3,000
interior walls · Painted walls show some wear.	Minor	$500–3,000
landscaping · Palm trees and a covered patio need trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Resale Paint the interior walls — Fresh paint can make a significant difference in the home's appearance. ↑
• Resale Replace worn kitchen cabinets — New cabinets can improve the kitchen's functionality and aesthetics. ↑
• Resale Upgrade bathroom fixtures — Modern fixtures can enhance the bathroom's appeal and functionality. ↑
• Resale Paint exterior siding — Fresh paint can improve the home's curb appeal and value. ↑
• Rental Trim and maintain landscaping — Well-maintained landscaping can attract tenants and improve the home's 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: Dysart Unified District (4243)
• NCES district ID: 0402690
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $58,033
• Composite: 32.76/100
• National rank: #5634
• State rank: #73 of 249 in AZ

Livability — El Mirage

• Score: 63/100
• State rank: #112
• US rank: #15164

Category grades

Amenities F Commute F Cost of living A Crime C Employment C Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: El Mirage, AZ
• County: Maricopa County · 4,537,380 people
• City population: 36,088
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 36,088
• Household income: $78,050
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 669.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 50% White 35% Two or more races 28% Black 6% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Lithuanian 2% Romanian 1% Iranian 1%
• Foreign-born: 15% · Canada
• Languages at home: 66% English-only · Spanish 30% Other Indo-European 1% Other Asian/Pacific 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: ▼ -52.81%
• Current HPI: 342.6503
• Rent YoY: ▲ 0.08%
• 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

+45.0% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $138,500 ARMLS
• 2026-04-13 Listed $149,000 ARMLS
• 2022-11-14 Sold (MLS) $89,000 ARMLS
• 2022-11-04 Pending — ARMLS
• 2022-11-01 Listed $95,500 ARMLS