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2200 N Delaware Dr #69
B- Composite 66.63
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 +27.4/30.0
  • ARV discount +15.0/15.0
  • DSCR +9.6/10.0
  • 1% rule +7.5/10.0
  • Condition / age +4.0/5.0
  • Livability +3.3/5.0
  • Appreciation +2.5/10.0
  • Rent growth +1.6/5.0
  • Schools +1.5/10.0
  • Manufactured-home adj. -5.8

$124,900

2200 N Delaware Dr #69 · Apache Junction, AZ 85120
3 bd · 2.0 ba · 1,520 sqft · Manufactured · 176 Days on market
Manufactured home Built 2006 Good condition 4,690 sqft lot $82/sqft · 44% below area Est $223k · 44% under ↓ 8% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

ENJOY MODERN LIVING IN THIS BEAUTIFUL, NEWLY PAINTED 3 BDRM. , 2 BTH. , OPEN-CONCEPT HOME W/ UPGRADED LVT FLOORING & HIGH-GRADE CARPET IN BEDROOMS. STYLISH KITCHEN OFFERS A SEAMLESS OPEN LAYOUT W/ MODERN STAINLESS-STEEL APPLIANCES AND AMPLE STORAGE FOR A CLUTTER-FREE ENVIORNMENT. EXPANSIVE ENSUITE FEATURES A SPA LIKE FEEL W/ DOUBLE VANITIES AND 2- WALK-IN-CLOSETS. THIS HOME OFFERS A DEDICATED PERMANET BUILT-IN WORKSPACE/OFFICE OFFERING UPPER AND LOWER STORAGE. THE INTERIOR EXPANDS ONTO A COVERED TREX DECK, (GRILL READY W/ POWER) OFFERING THE PERFECT YEAR-ROUND ENVIRONMENT FOR COMFORT AND RELAXING. ENCLOSED UNDER DECK STORAGE AND A SPRAWLING PARTIALLY FENCED YARD W/ COVERED CARPORT.

Key facts

  • Expansive ensuite
  • Walk-in closets
  • Double vanities

Tags

UPGRADED LVT FLOORINGAMPLE STORAGEEXPANSIVE ENSUITEDOUBLE VANITIESWALK-IN CLOSETSDEDICATED BUILT-IN WORKSPACE

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/2.0-bath manufactured listed at $125k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $366 ($4k/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: $110k (12.0% below list) — sets the bar for market timing.
  • Cap rate 9.8% vs local median 3.0% 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); 772 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 112d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
  • This rent runs 32% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

  • It's been on market 176 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
  • 2 sale attempts; this cycle's ask has dropped $10k (7%) 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 $109,912 (12.0% below list)

Questions for the listing agent

  1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% 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
1.25% ✓
Cap rate
9.81%
Cash-on-cash
12.57%
DSCR
1.56
GRM
6.7

CMA / ARV

ARV (median comp)
$223,086
List price
$124,900
Delta
-44.01%
Verdict
UNDERPRICED
Comps
18 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
2200 N Delaware Dr #12 0.00mi 4/2.0 (+1) 1,456 (-4%) 10mo $149,900 $103 79
2378 N Desert View Dr 0.12mi 3/1.5 1,456 (-4%) 10mo $430,000 $295 78
2157 N Delaware Dr 0.14mi 3/2.0 1,456 (-4%) 14mo $320,000 $220 75
2685 W Foothill St 0.28mi 3/2.0 1,378 (-9%) 3mo $305,000 $221 69
2200 N Delaware Dr #71 0.00mi 3/2.0 1,344 (-12%) 15mo $105,000 $78 68
2625 W Manzanita St 0.68mi 3/2.0 1,537 (+1%) 6mo $104,000 $68 62
2495 W Tepee St 0.53mi 3/2.0 1,653 (+9%) 1mo $329,000 $199 60
2762 W Smoketree St 0.37mi 3/2.0 1,680 (+10%) 15mo $324,000 $193 53
1943 N Main Dr 0.39mi 3/2.0 1,729 (+14%) 8mo $327,500 $189 52
2292 N Ironwood Dr #129 0.52mi 3/2.0 1,344 (-12%) 12mo $83,000 $62 46
2292 N Ironwood Dr #20 0.52mi 3/2.0 1,344 (-12%) 14mo $78,000 $58 44
2292 N Ironwood Dr #21 0.52mi 3/2.0 1,344 (-12%) 15mo $88,000 $65 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
-1.1%
Equity multiple
0.96×
Total profit
$-1,446
Equity at exit
$18,623
10-year hold
IRR
5.1%
Equity multiple
1.32×
Total profit
$11,252
Equity at exit
$10,799

Cash invested: $34,972 (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 →
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
17 active · 5 under contract
Months of supply
20.4 mo (5%/mo absorbed)
Median asking
$95,000 ($70/sqft)
Median days on market
51 d
This list price
76% of active listings are priced below it
ARV vs active asking
+109.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 85120

Home prices YoY
-29.0%
Rents YoY
-3.5%
Active inventory
772
Price-to-rent
6.7×

Monthly cashflow live

Estimated rent
$1,556 high interval (Pro) →
Mortgage (P&I)
−$655
Tax est. 1.5%
−$156 /mo · $1,874/yr
Insurance
−$52
HOA
−$0
Lot rent leased land?
−$0
Vacancy / Maint / Mgmt
−$327
Net cashflow
$366

Break-even live

Break-even rent $1,093
Max offer price $124,900
Occupancy floor 71%

Sensitivity live

Price -10% $453 -5% $409 +0% $366 +5% $323 +10% $280
Rent -10% $243 -5% $305 +0% $366 +5% $428 +10% $489
Rate -1.0pp $429 -0.5pp $398 base $366 +0.5pp $334 +1.0pp $301

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
$31,225
Closing costs
$3,747
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 6 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
2292 N Ironwood Dr Apache Junction, AZ 2.0 2.0 1152 $1,475 $1.28 120d 1 0.43mi
2292 N Ironwood Dr Apache Junction, AZ 3.0 2.0 1932 $2,199 $1.14 89d 1 0.43mi
1877 W Overland St Apache Junction, AZ 3.0 2.0 1420 $1,999 $1.41 112d 1 0.85mi
1941 W Stagecoach St Apache Junction, AZ 3.0 2.0 1306 $1,995 $1.53 40d 1 0.87mi
455 N Delaware Dr Unit 7 Apache Junction, AZ 2.0 2.0 1060 $1,900 $1.79 120d 1 1.12mi
651 N Ironwood Dr Apache Junction, AZ 3.0 2.5 1748 $2,245 $1.28 7d 10 1.21mi

Property features AI

Finance

Financial info
Current financing: Conventional
HOA & community
Land lease of $700 per monthAssociation covers sewer, grounds maintenance, street maintenance, trash and waterCommunity poolCommunity playground

Exterior

Parking
2 covered parking spaces2 carport spaces
Utilities
City waterPublic sewer
Home design
Manufactured/mobile homeLeasehold ownershipDesert and mountain views
Construction
Wood sidingWood frame constructionComposition roof
Exterior features
StorageChain-link fencingGravel/stone front

Interior

Kitchen
Kitchen islandEat-in kitchenBreakfast barRefrigeratorDishwasherDisposal
Bedrooms
3 possible bedrooms
Flooring
LaminateVinyl
Bathrooms
2 full bathrooms
Heating & cooling
Electric heatingCentral air conditioning
Interior features
Eat-in kitchenBreakfast barKitchen islandFull bath in primary bedroomRefrigeratorDishwasherDisposal
Laundry & utility
Laundry inside

Listing history 50 events

  1. 2026-09-23
    days on market $124,900 Active 176 DOM
  2. 2026-09-22
    days on market $124,900 Active 175 DOM
  3. 2026-09-21
    days on market $124,900 Active 174 DOM
  4. 2026-09-20
    days on market $124,900 Active 173 DOM
  5. 2026-09-19
    days on market $124,900 Active 172 DOM
  6. 2026-09-18
    days on market $124,900 Active 171 DOM
  7. 2026-09-17
    days on market $124,900 Active 170 DOM
  8. 2026-09-16
    days on market $124,900 Active 169 DOM
  9. 2026-09-15
    days on market $124,900 Active 168 DOM
  10. 2026-09-14
    days on market $124,900 Active 167 DOM
  11. 2026-09-13
    days on market $124,900 Active 166 DOM
  12. 2026-09-12
    days on market $124,900 Active 165 DOM
  13. 2026-09-11
    days on market $124,900 Active 164 DOM
  14. 2026-09-05
    days on market $124,900 Active 158 DOM
  15. 2026-09-04
    price $124,900 Active 157 DOM
  16. 2026-09-04
    days on market $128,500 Active 157 DOM
  17. 2026-09-03
    days on market $128,500 Active 156 DOM
  18. 2026-08-31
    days on market $128,500 Active 153 DOM
  19. 2026-08-30
    days on market $128,500 Active 152 DOM
  20. 2026-08-29
    days on market $128,500 Active 151 DOM
  21. 2026-08-28
    days on market $128,500 Active 150 DOM
  22. 2026-08-27
    days on market $128,500 Active 149 DOM
  23. 2026-08-26
    days on market $128,500 Active 148 DOM
  24. 2026-08-25
    days on market $128,500 Active 147 DOM
  25. 2026-08-24
    days on market $128,500 Active 146 DOM
  26. 2026-08-23
    days on market $128,500 Active 145 DOM
  27. 2026-08-22
    days on market $128,500 Active 144 DOM
  28. 2026-08-21
    days on market $128,500 Active 143 DOM
  29. 2026-08-20
    days on market $128,500 Active 142 DOM
  30. 2026-08-19
    days on market $128,500 Active 141 DOM
  31. 2026-08-18
    days on market $128,500 Active 140 DOM
  32. 2026-08-17
    days on market $128,500 Active 139 DOM
  33. 2026-08-16
    days on market $128,500 Active 138 DOM
  34. 2026-08-15
    days on market $128,500 Active 137 DOM
  35. 2026-08-14
    days on market $128,500 Active 136 DOM
  36. 2026-08-13
    days on market $128,500 Active 135 DOM
  37. 2026-08-12
    days on market $128,500 Active 134 DOM
  38. 2026-08-11
    days on market $128,500 Active 133 DOM
  39. 2026-08-10
    days on market $128,500 Active 132 DOM
  40. 2026-08-09
    days on market $128,500 Active 131 DOM
  41. 2026-08-08
    days on market $128,500 Active 130 DOM
  42. 2026-08-06
    days on market $128,500 Active 128 DOM
  43. 2026-08-05
    days on market $128,500 Active 127 DOM
  44. 2026-08-04
    days on market $128,500 Active 126 DOM
  45. 2026-08-03
    days on market $128,500 Active 125 DOM
  46. 2026-07-31
    days on market $128,500 Active 122 DOM
  47. 2026-07-30
    days on market $128,500 Active 121 DOM
  48. 2026-07-30
    days on market $128,500 Active 120 DOM
  49. 2026-07-28
    days on market $128,500 Active 119 DOM
  50. 2026-07-26
    days on market $128,500 Active 117 DOM

ⓘ 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$18,675
− Mortgage interest
−$6,996
− Property taxes
−$1,874
− Insurance
−$624
− Repairs & maintenance
−$1,494
− Management
−$1,494
− Depreciation
−$3,633
Taxable income
$2,560
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$614
After-tax cash flow
$3,781/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $7,600–$22,800 screening

This mobile home is in good condition with modern updates and a well-maintained exterior. It is ready for immediate occupancy and would benefit from a fresh coat of paint to enhance its curb appeal.

Value-add opportunities

  • Resale Paint exterior — Enhances curb appeal ↑
  • Rental Landscaping — Improves curb appeal and attracts tenants ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

Elementary Four Peaks Elementary School F AZ #898/1,109 Nat'l #36,758/41,679 Middle Cactus Canyon Junior High F AZ #151/218 Nat'l #12,406/14,009 High Apache Junction High School F AZ #267/381 Nat'l #15,534/17,239

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
C Composite livability gradescore 66/100

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 · 437,574 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
14% of renters

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
—

Price history

-7.8% since first listed
8 events — show timeline
  • 2026-04-28 Price Changed $129,000 ARMLS
  • 2026-03-31 Listed $134,500 ARMLS
  • 2026-01-18 Listing Removed — ARMLS
  • 2025-12-11 Price Changed $133,500 ARMLS
  • 2025-11-22 Price Changed $134,500 ARMLS
  • 2025-10-02 Price Changed $135,000 ARMLS
  • 2025-09-09 Price Changed $137,777 ARMLS
  • 2025-08-30 Listed $139,900 ARMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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