6934 W Greenway Rd · Glendale, AZ 85381

$167,500

3 bd · 1.5 ba · 720 sqft · Manufactured public records · 32 Days on market

Built 1972 9,131 sqft lot $233/sqft · 30% below area Est $241k · 30% under

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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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer upper. Endless possibilities. Fix and rent/sell the mobile home that is there, bring a new mobile home in or you are able to build in that community.

Key facts

• 9,131 sq ft lot
• Built 1972
• Listed 31 days

Property features AI

Finance

• Other: Lot size approximately 9,131 sq ft
• Financial info: Private financing
• HOA & community: No association fees

Exterior

• Utilities: City water; Public sewer
• Home design: Manufactured/Mobile home; Fee simple ownership
• Construction: Board & batten siding; Wood frame construction; Composition roof
• Exterior features: Dirt front yard; Dirt back yard; Block fencing

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 possible bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Window/Wall unit cooling; No heating system
• Interior features: Eat-in kitchen
• Laundry & utility: No laundry hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $168k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $162k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.5% in Glendale — 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 76/100 on livability (#12 in AZ, #3,235 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: health & safety D+, crime F.
• Peoria Unified School District (4237) (suburban): math 36% / reading 42% proficiency, ranked #64 of 249 in AZ (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.8%/yr); 113 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $5k 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 32 days — a 3% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,475 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.00% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

• ARV (median comp): $240,752
• List price: $167,500
• Delta: -30.43%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7002 W Karen Lee Ln	0.11mi	2/1.0 (-1)	673 (-6%)	17mo	$242,000	$360	63

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: -6.1%
• Equity multiple: 0.78×
• Total profit: $-10,253
• Equity at exit: $24,975

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-78
• Equity at exit: $14,482

Cash invested: $46,900 (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 85381

• Home prices YoY: -20.6%
• Rents YoY: -0.8%
• Active inventory: 113
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$878
• Tax from tax record: −$33 /mo · $398/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $344

Break-even live

Break-even rent $1,242

Max offer price $167,500

Occupancy floor 75%

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: $41,875
• Closing costs: $5,025
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16601 N 75th Ave Peoria, AZ	1.0–3.0	1.0–2.0	1042	$2,378	$2.28	2d	24	0.89mi
6451 W Bell Rd Glendale, AZ	2.0	1.0–2.0	630	$1,285	$2.04	1d	107	1.10mi
5959 W Greenway Rd Glendale, AZ	1.0–2.0	1.0–2.0	735	$1,357	$1.85	1d	10	1.18mi
15050 N 59th Ave Glendale, AZ	1.0–2.0	1.0–2.0	775	$1,499	$1.93	1d	7	1.22mi
15010 N 59th Ave Glendale, AZ	1.0–2.0	1.0–2.0	637	$1,445	$2.27	2d	13	1.27mi

Listing history 12 events

1. 2026-06-09
   days on market $167,500 Active 32 DOM
2. 2026-06-08
   days on market $167,500 Active 31 DOM
3. 2026-06-07
   days on market $167,500 Active 30 DOM
4. 2026-06-04
   days on market $167,500 Active 27 DOM
5. 2026-06-03
   days on market $167,500 Active 26 DOM
6. 2026-06-02
   days on market $167,500 Active 25 DOM
7. 2026-06-01
   days on market $167,500 Active 24 DOM
8. 2026-05-31
   days on market $167,500 Active 23 DOM
9. 2026-05-08
   listed $167,500 Active 155-char remark
10. 2026-04-17
    soldstatus $85,000
11. 1989-04-28
    soldstatus $45,000
12. 1976-12-13
    soldstatus $5,000

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

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $398 · $33/mo
• Projected year-2 tax: $1,106 · $92/mo
• Expected delta: +$707/yr (+$59/mo · 177.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,127
• − Mortgage interest: −$9,383
• − Property taxes: −$398
• − Insurance: −$838
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$4,873
• Taxable income: $1,415
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $3,784/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: Peoria Unified School District (4237)
• NCES district ID: 0406250
• Math proficiency: 36% ▼ -14.00%
• Reading proficiency: 42% ▼ -8.00%
• Median HH income: $60,171
• Composite: 34.62/100
• National rank: #5152
• State rank: #64 of 249 in AZ

Livability — Glendale

• Score: 76/100
• State rank: #12
• US rank: #3235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 294,586
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 27,650
• Household income: $96,746
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1114.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 21% Two or more races 11% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Iranian 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 7% Vietnamese 1% Chinese 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: ▼ -74.78%
• Current HPI: 288.2663
• Rent YoY: ▼ -0.80%
• 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

+2700.0% since first listed

6 events — show timeline

• 2026-06-11 Sold (Public Records) $140,000 Public Records
• 2026-06-11 Listing Removed — ARMLS
• 2026-05-08 Listed $167,500 ARMLS
• 2026-04-17 Sold (Public Records) $85,000 Public Records
• 1989-04-28 Sold (Public Records) $45,000 Public Records
• 1976-12-13 Sold (Public Records) $5,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $398 · +2.4% YoY. Source: county tax records.