204 E Baseline Rd · Buckeye, AZ 85326

$248,900

4 bd · 2.0 ba · — sqft · MultiFamily · 173 Days on market

Built 1972 Good condition ↓ 9% since listing

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Condition / age +4.2/5.0
• Livability +3.4/5.0
• Rent growth +2.3/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

Key facts

• Wood-look flooring
• Inviting great room
• Ceiling fans

Tags

• RECENTLY RENOVATED
• THOUGHTFULLY UPDATED INTERIORS
• WOOD-LOOK FLOORING
• CEILING FANS
• DUAL PANE WINDOWS
• INVITING GREAT ROOM

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $249k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive. Per door: $406/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.1% in Buckeye — 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 68/100 on livability (#53 in AZ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Buckeye Union High School District (4284) (town): math 21% / reading 29% proficiency, ranked #129 of 249 in AZ (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bales Elementary School (math 6% / reading 17%, grade F, #971 of 1,109 statewide, top 88%, 659 students, 70% FRL); Buckeye Union High School (math 14% / reading 22%, grade F, #242 of 381 statewide, top 64%, 1,775 students, 52% FRL).
• Market conditions: Rents soft (-0.9%/yr); 1210 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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).
• This rent runs 43% of the median local income ($90k/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 $2k of loan paydown is wiped out by about $7k 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 173 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.98%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $816,576
• List price: $248,900
• Delta: -69.52%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,031
• Equity at exit: $37,112

10-year hold

• IRR: 7.1%
• Equity multiple: 1.46×
• Total profit: $32,248
• Equity at exit: $21,520

Cash invested: $69,692 (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 85326

• Home prices YoY: -32.5%
• Rents YoY: -0.9%
• Active inventory: 1210
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $3,205 high
• Mortgage (P&I): −$1,305
• Tax est. 1.5%: −$311 /mo · $3,734/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $812

Break-even live

Break-even rent $2,177

Max offer price $248,900

Occupancy floor 70%

Sensitivity live

Price	-10% $984	-5% $898	+0% $812	+5% $726	+10% $640
Rent	-10% $559	-5% $685	+0% $812	+5% $938	+10% $1,065
Rate	-1.0pp $937	-0.5pp $875	base $812	+0.5pp $747	+1.0pp $682

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,204
Total (2 units)			$3,205

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: $62,225
• Closing costs: $7,467
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 4th Ave E Unit 1 Buckeye, AZ	3.0	2.0	1000	$2,000	$2.00	0d	1	0.20mi
83 5th Ave W Buckeye, AZ	3.0	2.0	1238	$1,669	$1.35	46d	1	0.26mi
95 5th Ave W Buckeye, AZ	3.0	2.0	1410	$1,700	$1.21	0d	1	0.29mi
220 4th Ave W Unit 2 Buckeye, AZ	3.0	2.0	1000	$2,000	$2.00	0d	1	0.33mi
616 E Arizona Ave Buckeye, AZ	3.0	2.0	1560	$1,770	$1.13	46d	1	0.33mi
1005 E Monroe Ave Buckeye, AZ	3.0	2.0	1700	$2,300	$1.35	24d	1	0.81mi
25356 W Maldonado Ct Buckeye, AZ	4.0	2.0	1563	$1,790	$1.15	46d	1	0.82mi
24832 W Kowalsky Ln Buckeye, AZ	3.0	1.5	1518	$1,699	$1.12	0d	1	0.89mi
25201 W MC 85 Buckeye, AZ	2.0–3.0	2.0	1117	$1,753	$1.57	4d	14	0.91mi
24750 W Huntington Dr Buckeye, AZ	3.0	2.0	1959	$1,900	$0.97	0d	1	0.93mi
212 E Centre Ave Buckeye, AZ	3.0	1.0	784	$1,150	$1.47	46d	1	0.94mi
1626 E Aspen Ave Buckeye, AZ	3.0	2.5	2046	$1,770	$0.87	20d	1	0.99mi
7307 S Sunrise Way Buckeye, AZ	3.0	2.0	1653	$1,715	$1.04	3d	1	1.00mi
25214 W Clanton Ave Buckeye, AZ	4.0	2.0	1806	$1,875	$1.04	0d	1	1.03mi
24775 W Dove Trail Buckeye, AZ	4.0	3.0	1822	$1,895	$1.04	12d	1	1.10mi
24775 W Dove Trail Buckeye, AZ	4.0	3.0	1822	$1,895	$1.04	0d	1	1.10mi
25654 W Satellite Ln Buckeye, AZ	3.0	2.0	1653	$1,725	$1.04	3d	1	1.13mi
25654 W Satellite Ln Buckeye, AZ	3.0	2.0	1653	$1,725	$1.04	0d	1	1.13mi
25291 W Hidalgo Ave Buckeye, AZ	4.0	2.5	1837	$1,900	$1.03	0d	1	1.15mi
24934 W Dove Trail Buckeye, AZ	4.0	2.0	1460	$1,695	$1.16	26d	1	1.15mi
24729 W Dove Ridge Buckeye, AZ	3.0	2.0	1681	$1,836	$1.09	46d	1	1.15mi
25067 W Dove Trail Buckeye, AZ	3.0	2.0	1460	$1,800	$1.23	12d	1	1.18mi
25293 W Wayland Dr Buckeye, AZ	4.0	2.5	1837	$2,400	$1.31	0d	1	1.19mi
8808 S 253rd Ave Buckeye, AZ	3.0	2.0	1795	$1,785	$0.99	0d	1	1.19mi
25235 W La Mont Ave Buckeye, AZ	4.0	2.5	2750	$2,195	$0.80	0d	1	1.20mi
25193 W Cranston Pl Buckeye, AZ	5.0	3.0	2147	$1,931	$0.90	46d	1	1.22mi
25386 W Long Ave Buckeye, AZ	4.0	2.5	2172	$1,875	$0.86	0d	1	1.23mi
24629 W Grove St Buckeye, AZ	4.0	2.0	1832	$2,395	$1.31	4d	1	1.24mi
24629 W Grove St Buckeye, AZ	4.0	2.0	1832	$2,395	$1.31	0d	1	1.24mi
25698 W St Kateri Dr Buckeye, AZ	4.0	2.0	1574	$1,831	$1.16	0d	1	1.24mi
25573 W Coles Rd Buckeye, AZ	4.0	2.0	1768	$2,195	$1.24	0d	1	1.25mi
25703 W St Charles Ct Buckeye, AZ	4.0	2.0	1574	$1,930	$1.23	0d	1	1.27mi
24477 W Grove St Buckeye, AZ	4.0	3.0	2168	$2,335	$1.08	0d	1	1.27mi
24461 W Grove St Buckeye, AZ	4.0	3.0	2168	$2,190	$1.01	0d	1	1.27mi
24453 W Grove St Buckeye, AZ	4.0	3.0	2351	$2,385	$1.01	0d	1	1.27mi
25771 W Satellite Ln Buckeye, AZ	4.0	2.5	1874	$1,795	$0.96	46d	1	1.28mi
5786 S 240th Dr Buckeye, AZ	4.0	2.0	1569	$1,950	$1.24	0d	1	1.29mi
24480 W Grove St Buckeye, AZ	4.0	3.0	2351	$2,405	$1.02	46d	1	1.30mi
24466 W Grove St Buckeye, AZ	4.0	3.0	2168	$2,400	$1.11	46d	1	1.30mi
24466 W Grove St Buckeye, AZ	4.0	3.0	2168	$2,190	$1.01	0d	1	1.30mi

Listing history 22 events

1. 2026-06-21
   days on market $248,900 Active 173 DOM
2. 2026-06-18
   days on market $248,900 Active 170 DOM
3. 2026-06-17
   days on market $248,900 Active 169 DOM
4. 2026-06-16
   days on market $248,900 Active 168 DOM
5. 2026-06-15
   days on market $248,900 Active 167 DOM
6. 2026-06-13
   days on market $248,900 Active 165 DOM
7. 2026-06-13
   days on market $248,900 Active 164 DOM
8. 2026-06-09
   days on market $248,900 Active 161 DOM
9. 2026-06-08
   days on market $248,900 Active 160 DOM
10. 2026-06-07
    days on market $248,900 Active 159 DOM
11. 2026-06-04
    days on market $248,900 Active 156 DOM
12. 2026-06-03
    days on market $248,900 Active 155 DOM
13. 2026-06-02
    days on market $248,900 Active 154 DOM
14. 2026-06-01
    days on market $248,900 Active 153 DOM
15. 2026-05-31
    days on market $248,900 Active 152 DOM
16. 2026-05-07
    price $248,900 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

17. 2026-04-23
    price $248,990 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

18. 2026-02-25
    price $249,700 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

19. 2026-02-04
    price $270,000 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

20. 2026-01-09
    status Active 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

21. 2026-01-05
    historical Under Contract Accepting Backups 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

22. 2025-12-30
    listed $275,000 Active 688-char remark

    Show marketing remark (688 chars)

    CASH offers only! Fall in love with this lovely manufactured duplex property that has been recently renovated!! Each unit exudes charm with thoughtfully updated interiors, featuring wood-look flooring, ceiling fans, fresh neutral color palette, and dual pane windows that flood the rooms with natural light. The 1st unit is a true gem, offering an inviting great room, an upscale kitchen equipped with stainless steel appliances, and recessed lighting. Each bedroom in this gem boasts well-sized sized closets for easy organization. Both units have spacious backyards, ideal for hosting gatherings and enjoying outdoor relaxation. What are you waiting for? Make it yours before it's gone!

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥115°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,460
• − Mortgage interest: −$13,942
• − Property taxes: −$3,734
• − Insurance: −$1,244
• − Repairs & maintenance: −$3,077
• − Management: −$3,077
• − Depreciation: −$7,241
• Taxable income: $6,145
• Est. tax owed @ 24.0%: −$1,475
• After-tax cash flow: $8,267/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 · 29 photos

Good 85/100 Cosmetic rehab

This recently renovated manufactured duplex is move-in ready with updated interiors and a well-maintained exterior. It offers a good investment opportunity for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both furniture — improves the living experience and adds value
• Both smart home integration — enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both furniture — improves the living experience and adds value ↑
• Both smart home integration — enhances convenience and adds 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: Buckeye Union High School District (4284)
• NCES district ID: 0401410
• Math proficiency: 21% ▼ -30.00%
• Reading proficiency: 29% ▼ -8.00%
• Median HH income: $59,182
• Composite: 22.91/100
• National rank: #7995
• State rank: #129 of 249 in AZ

Livability — Buckeye

• Score: 68/100
• State rank: #53
• US rank: #9428

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Maricopa County · 4,537,380 people
• City population: 117,540
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 75,359
• Household income: $89,876
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 661.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 50% White 38% Two or more races 13% Black 7% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 12% · Canada
• Languages at home: 66% English-only · Spanish 32%

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: ▼ -138.00%
• Current HPI: 286.9242
• Rent YoY: ▼ -0.92%
• 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

-9.5% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $248,900 ARMLS
• 2026-04-23 Price Changed $248,990 ARMLS
• 2026-02-25 Price Changed $249,700 ARMLS
• 2026-02-04 Price Changed $270,000 ARMLS
• 2026-01-09 Relisted — ARMLS
• 2026-01-05 Contingent — ARMLS
• 2025-12-30 Listed $275,000 ARMLS