2292 N Ironwood Dr #110 · Apache Junction, AZ 85120

$70,000

3 bd · 2.0 ba · 960 sqft · Manufactured · 29 Days on market

Built 2013 Good condition Est $60k · 16% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful and well maintained 3 bedroom/ 2 bathroom home in the all ages community of Windsong! Enjoy various upgrades throughout the home including in the kitchen and bathrooms! Enjoy an abundance of natural light throughout the home!

Key facts

• 2 parking spots
• Community pool
• Built 2013

Property features AI

Finance

• HOA & community: Land lease of $715 per month; No association fees

Exterior

• Parking: 1 covered parking space; 1 open parking space; 1 carport space
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Fee simple ownership
• Construction: Wood-frame construction; Painted exterior; Composition roof; Building area reported by owner
• Exterior features: Gravel/stone front yard; Gravel/stone backyard; Community pool

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 possible bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; No interior steps; Primary bedroom with full bathroom
• Laundry & utility: Washer/dryer hookup only

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $973 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.0% 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); Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL).
• Market conditions: Rents falling (-3.5%/yr); 455 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• This rent runs 38% 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% 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 29 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $68,950 (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. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.63% ✓
• Cap rate: 22.97%
• Cash-on-cash: 59.56%
• DSCR: 3.65
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $60,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2292 N Ironwood Dr #110	0.00mi	3/2.0	960 (0%)	0mo	$67,000	$70	100
2292 N Ironwood Dr #78	0.02mi	3/2.0	960 (0%)	4mo	$60,000	$63	96
2292 N Ironwood Dr #56	0.06mi	3/2.0	960 (0%)	2mo	$59,000	$61	95
2292 N Ironwood Dr #55	0.02mi	2/2.0 (-1)	960 (0%)	3mo	$57,000	$59	91
2292 N Ironwood Dr #84	0.02mi	2/2.0 (-1)	1,024 (+7%)	3mo	$25,000	$24	81
2292 N Ironwood Dr #34	0.11mi	3/2.0	1,024 (+7%)	5mo	$60,000	$59	80
2292 N Ironwood Dr #103	0.11mi	2/2.0 (-1)	1,008 (+5%)	5mo	$18,000	$18	77
2292 N Ironwood Dr #41	0.11mi	2/2.0 (-1)	1,080 (+12%)	3mo	$16,000	$15	66
2200 N Delaware Dr #62	0.41mi	3/2.0	1,100 (+15%)	2mo	$75,000	$68	55
1784 N Main Dr	0.35mi	2/1.0 (-1)	833 (-13%)	4mo	$249,995	$300	49
1644 N Desert View Dr N	0.65mi	2/2.0 (-1)	846 (-12%)	7mo	$271,500	$321	39
875 W Smoketree St	0.67mi	2/2.0 (-1)	1,080 (+12%)	7mo	$337,000	$312	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: 54.8%
• Equity multiple: 3.31×
• Total profit: $45,237
• Equity at exit: $10,437

10-year hold

• IRR: 58.8%
• Equity multiple: 6.02×
• Total profit: $98,401
• Equity at exit: $6,052

Cash invested: $19,600 (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: 455
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,844 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $973

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 42%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	4d	1	1.10mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	24d	1	1.17mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1010	$1,900	$1.88	24d	3	1.24mi

Listing history 11 events

1. 2026-06-10
   status $70,000 Pending 29 DOM
2. 2026-06-09
   days on market $70,000 Under Contract Accepting Backups 29 DOM
3. 2026-06-08
   days on market $70,000 Under Contract Accepting Backups 28 DOM
4. 2026-06-07
   days on market $70,000 Under Contract Accepting Backups 27 DOM
5. 2026-06-04
   days on market $70,000 Under Contract Accepting Backups 24 DOM
6. 2026-06-03
   days on market $70,000 Under Contract Accepting Backups 23 DOM
7. 2026-06-02
   days on market $70,000 Under Contract Accepting Backups 22 DOM
8. 2026-06-01
   days on market $70,000 Under Contract Accepting Backups 21 DOM
9. 2026-05-31
   days on market $70,000 Under Contract Accepting Backups 20 DOM
10. 2026-05-18
    historical Under Contract Accepting Backups
11. 2026-05-11
    listed $70,000 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 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: $22,124
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$2,036
• Taxable income: $11,227
• Est. tax owed @ 24.0%: −$2,694
• After-tax cash flow: $8,979/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

Good 80/100 Cosmetic rehab

This well-maintained and updated manufactured home is move-in ready with modern finishes and a good condition score.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both Add a small front porch — Enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Add a small front porch — Enhances curb appeal and 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: 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

2 events — show timeline

• 2026-05-18 Contingent — ARMLS
• 2026-05-11 Listed $70,000 ARMLS