1650 S Arizona Ave #173 · Chandler, AZ 85286

$89,900

3 bd · 2.0 ba · 1,023 sqft · Manufactured · 295 Days on market

Built 1983 Good condition $88/sqft · 35% above area Est $66k · 35% over ↓ 17% since listing

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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
• Schools +4.8/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside this bright and open 3-bedroom, 2-bath split floorplan home, right in the heart of Chandler. Located in the popular all-ages community of Sunshine Valley, this manufactured home has been recently updated—you won't be disappointed! It's close to top-rated schools, parks, shopping, restaurants, and just minutes from the 202 freeway. Sunshine Valley offers a range of family-friendly amenities, including community events, a large clubhouse, basketball courts, a library, a playground, and a refreshing pool. Please note: This sale is for the mobile home only. A separate land lease is required through Sunshine Valley. More details are available in the documents tab.

Key facts

• Recently updated
• Split floorplan
• Large clubhouse

Tags

• SPLIT FLOORPLAN
• RECENTLY UPDATED
• TOP-RATED SCHOOLS
• LARGE CLUBHOUSE
• BASKETBALL COURTS
• LIBRARY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 3.3% in Chandler — 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 78/100 on livability (#9 in AZ, #2,508 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety D, cost of living D-.
• Chandler Unified District #80 (4242) (suburban): math 49% / reading 57% proficiency, ranked #31 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.6%/yr); 169 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (17%) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.37% ✓
• Cap rate: 20.43%
• Cash-on-cash: 50.50%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (median comp): $66,448
• List price: $89,900
• Delta: 35.29%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1650 S Arizona Ave #228	0.31mi	3/2.0	1,056 (+3%)	13mo	$83,000	$79	70
1650 S Arizona Ave #126	0.31mi	3/2.0	1,120 (+10%)	8mo	$69,000	$62	63
1650 S Arizona Ave #164	0.25mi	2/2.0 (-1)	912 (-11%)	9mo	$32,000	$35	58

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: 44.8%
• Equity multiple: 2.86×
• Total profit: $46,700
• Equity at exit: $13,404

10-year hold

• IRR: 49.4%
• Equity multiple: 5.11×
• Total profit: $103,581
• Equity at exit: $7,773

Cash invested: $25,172 (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 85286

• Home prices YoY: -24.8%
• Rents YoY: -0.6%
• Active inventory: 169
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,127 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $1,059

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 45%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
575 W Pecos Rd Chandler, AZ	1.0–3.0	1.0–2.0	928	$2,009	$2.16	2d	18	0.30mi
800 W Willis Rd Chandler, AZ	1.0–3.0	1.0–2.0	1036	$2,475	$2.39	1d	19	0.49mi
875 W Pecos Rd Chandler, AZ	1.0–2.0	1.0–2.0	912	$1,903	$2.09	1d	22	0.55mi
2150 S Arizona Ave Chandler, AZ	1.0–3.0	1.0–2.0	956	$2,169	$2.27	1d	17	0.64mi
726 S Nebraska St #95 Chandler, AZ	3.0	2.0	1188	$1,900	$1.60	43d	1	0.68mi
726 S Nebraska St #159 Chandler, AZ	3.0	2.0	1188	$1,699	$1.43	21d	1	0.69mi
727 S Hartford St #182 Chandler, AZ	3.0	2.0	1060	$1,495	$1.41	15d	1	0.74mi
727 S Hartford St Chandler, AZ	3.0	2.0	1060	$1,495	$1.41	10d	1	0.74mi
727 S Hartford St #189 Chandler, AZ	3.0	2.0	1060	$1,645	$1.55	10d	1	0.74mi
727 S Hartford St #189 Chandler, AZ	3.0	2.0	1060	$1,695	$1.60	43d	1	0.74mi
1106 S Fresno Ct Chandler, AZ	3.0	2.0	1421	$2,195	$1.54	24d	1	0.82mi
901 S Alma School Rd Chandler, AZ	1.0–3.0	1.0–2.0	939	$2,480	$2.64	3d	20	0.91mi
1112 S Bogle Ct Chandler, AZ	2.0	2.0	1363	$1,800	$1.32	21d	1	0.92mi
1112 S Bogle Ct Chandler, AZ	2.0	2.0	1363	$1,858	$1.36	24d	1	0.92mi
1175 W Pecos Rd Chandler, AZ	1.0–3.0	1.0–2.0	971	$2,169	$2.23	1d	15	0.92mi
1203 W Kesler Ln Chandler, AZ	3.0	2.0	1315	$2,175	$1.65	5d	1	1.04mi
1314 W Weatherby Way Chandler, AZ	2.0	2.5	1307	$1,950	$1.49	43d	1	1.04mi
1315 W Musket Way Chandler, AZ	3.0	2.0	1454	$2,250	$1.55	43d	1	1.05mi
155 E Frye Rd Chandler, AZ	1.0–3.0	1.0–2.0	1213	$3,136	$2.59	1d	25	1.10mi
1387 W Marlin Dr Chandler, AZ	2.0	2.5	1307	$2,245	$1.72	15d	1	1.16mi
902 S Ithica St Chandler, AZ	3.0	2.0	1441	$2,126	$1.48	24d	1	1.24mi
812 E Morelos St Chandler, AZ	3.0	2.0	1286	$2,201	$1.71	43d	1	1.28mi
2777 S Arizona Ave Chandler, AZ	1.0–2.0	1.0–2.0	1037	$1,839	$1.77	1d	13	1.31mi
857 E Saragosa St Chandler, AZ	3.0	2.0	1102	$2,149	$1.95	15d	1	1.34mi
857 E Saragosa St Chandler, AZ	3.0	2.0	1102	$2,199	$2.00	43d	1	1.34mi
878 E Morelos St Chandler, AZ	3.0	2.0	1488	$2,200	$1.48	21d	1	1.36mi
280 S Elizabeth Way #27 Chandler, AZ	2.0	1.5	1136	$1,650	$1.45	24d	1	1.41mi
280 S Elizabeth Way #37 Chandler, AZ	3.0	2.0	1268	$1,850	$1.46	5d	1	1.41mi
333 E Commonwealth Ave Chandler, AZ	2.0	1.0–2.0	874	$1,878	$2.15	1d	11	1.41mi
250 W Queen Creek Rd Chandler, AZ	2.0–3.0	2.0–2.5	1732	$2,250	$1.30	3d	3	1.44mi
124 N California St #33 Chandler, AZ	2.0	2.5	1283	$1,995	$1.55	12d	1	1.44mi
250 S Elizabeth Way Unit B3 Chandler, AZ	2.0	2.0	1015	$1,595	$1.57	43d	1	1.45mi
250 S Elizabeth Way Chandler, AZ	2.0	2.0	862	$1,570	$1.82	43d	1	1.46mi
1750 S Senate St Chandler, AZ	2.0–3.0	2.0	1239	$2,714	$2.19	1d	25	1.47mi
800 W Queen Creek Rd Chandler, AZ	2.0	2.0	1262	$1,949	$1.54	20d	1	1.47mi
800 W Queen Creek Rd Chandler, AZ	3.0	2.0	1254	$2,099	$1.67	24d	1	1.47mi
800 W Queen Creek Rd Chandler, AZ	2.0	2.0	1206	$1,964	$1.63	43d	1	1.47mi
800 W Queen Creek Rd Chandler, AZ	2.0	2.0	1206	$1,859	$1.54	3d	1	1.47mi
125 S Alma School Rd Chandler, AZ	3.0	2.0	1374	$2,290	$1.67	12d	1	1.47mi
125 S Alma School Rd Chandler, AZ	3.0	2.0	1374	$2,254	$1.64	43d	1	1.47mi

Listing history 7 events

1. 2026-06-01
   days on market $89,900 Active 295 DOM
2. 2026-05-31
   days on market $89,900 Active 294 DOM
3. 2026-02-05
   status Active 686-char remark

   Show marketing remark (686 chars)

   Step inside this bright and open 3-bedroom, 2-bath split floorplan home, right in the heart of Chandler. Located in the popular all-ages community of Sunshine Valley, this manufactured home has been recently updated—you won't be disappointed! It's close to top-rated schools, parks, shopping, restaurants, and just minutes from the 202 freeway. Sunshine Valley offers a range of family-friendly amenities, including community events, a large clubhouse, basketball courts, a library, a playground, and a refreshing pool. Please note: This sale is for the mobile home only. A separate land lease is required through Sunshine Valley. More details are available in the documents tab.

4. 2026-02-01
   historical 686-char remark

   Show marketing remark (686 chars)

   Step inside this bright and open 3-bedroom, 2-bath split floorplan home, right in the heart of Chandler. Located in the popular all-ages community of Sunshine Valley, this manufactured home has been recently updated—you won't be disappointed! It's close to top-rated schools, parks, shopping, restaurants, and just minutes from the 202 freeway. Sunshine Valley offers a range of family-friendly amenities, including community events, a large clubhouse, basketball courts, a library, a playground, and a refreshing pool. Please note: This sale is for the mobile home only. A separate land lease is required through Sunshine Valley. More details are available in the documents tab.

5. 2026-01-05
   price $89,900 686-char remark

   Show marketing remark (686 chars)

   Step inside this bright and open 3-bedroom, 2-bath split floorplan home, right in the heart of Chandler. Located in the popular all-ages community of Sunshine Valley, this manufactured home has been recently updated—you won't be disappointed! It's close to top-rated schools, parks, shopping, restaurants, and just minutes from the 202 freeway. Sunshine Valley offers a range of family-friendly amenities, including community events, a large clubhouse, basketball courts, a library, a playground, and a refreshing pool. Please note: This sale is for the mobile home only. A separate land lease is required through Sunshine Valley. More details are available in the documents tab.

6. 2025-09-11
   price $99,900 686-char remark

   Show marketing remark (686 chars)

   Step inside this bright and open 3-bedroom, 2-bath split floorplan home, right in the heart of Chandler. Located in the popular all-ages community of Sunshine Valley, this manufactured home has been recently updated—you won't be disappointed! It's close to top-rated schools, parks, shopping, restaurants, and just minutes from the 202 freeway. Sunshine Valley offers a range of family-friendly amenities, including community events, a large clubhouse, basketball courts, a library, a playground, and a refreshing pool. Please note: This sale is for the mobile home only. A separate land lease is required through Sunshine Valley. More details are available in the documents tab.

7. 2025-08-06
   listed $107,900 Active 686-char remark

   Show marketing remark (686 chars)

   Step inside this bright and open 3-bedroom, 2-bath split floorplan home, right in the heart of Chandler. Located in the popular all-ages community of Sunshine Valley, this manufactured home has been recently updated—you won't be disappointed! It's close to top-rated schools, parks, shopping, restaurants, and just minutes from the 202 freeway. Sunshine Valley offers a range of family-friendly amenities, including community events, a large clubhouse, basketball courts, a library, a playground, and a refreshing pool. Please note: This sale is for the mobile home only. A separate land lease is required through Sunshine Valley. More details are available in the documents tab.

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,528
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$2,615
• Taxable income: $11,995
• Est. tax owed @ 24.0%: −$2,879
• After-tax cash flow: $9,833/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 · 14 photos

Good 80/100 Cosmetic rehab

This well-maintained mobile home in a desirable location offers a good return on investment with minor cosmetic updates and maintenance.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value.
• Both Landscaping and curb appeal improvements — A well-maintained exterior can attract more buyers and renters.
• Both HVAC system maintenance — A clean and efficient HVAC system can improve comfort and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value. ↑
• Both Landscaping and curb appeal improvements — A well-maintained exterior can attract more buyers and renters. ↑
• Both HVAC system maintenance — A clean and efficient HVAC system can improve comfort and energy efficiency. ↑

ⓘ 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: Chandler Unified District #80 (4242)
• NCES district ID: 0401870
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $74,048
• Composite: 47.54/100
• National rank: #2268
• State rank: #31 of 249 in AZ

Livability — Chandler

• Score: 78/100
• State rank: #9
• US rank: #2508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chandler, AZ
• County: Maricopa County · 4,537,380 people
• City population: 299,016
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 50,621
• Household income: $121,758
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1285.0

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 0.66)
• Race & ethnicity: White 53% Hispanic / Latino 19% Asian 16% Two or more races 14% Black 5% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 8% Other Asian/Pacific 5% Chinese 4%

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: ▼ -101.85%
• Current HPI: 309.3228
• Rent YoY: ▼ -0.64%
• 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

-16.7% since first listed

5 events — show timeline

• 2026-02-05 Relisted — ARMLS
• 2026-02-01 Listing Removed — ARMLS
• 2026-01-05 Price Changed $89,900 ARMLS
• 2025-09-11 Price Changed $99,900 ARMLS
• 2025-08-06 Listed $107,900 ARMLS