19602 N 32nd St #23 · Phoenix, AZ 85050

$83,000

3 bd · 2.0 ba · 1,008 sqft · Manufactured · 22 Days on market

Built 1986 Good condition Est $109k · 24% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in Carefree Manor, an ALL AGES gated community, this fully remodeled single-wide is move-in ready from day one. A brand new roof and fresh updates throughout mean zero projects just a clean, well-finished home waiting for its next chapter. Inside you'll find modern finishes and fixtures throughout, with new LVP flooring and a split floorplan that gives you room to live, work and entertain comfortably. The community itself adds even more value- enjoy the pool, clubhouse, on-site laundry, a playground and a welcoming pet-friendly atmosphere. The location is hard to beat: less than a mile from Costco and Albertsons, minutes from Desert Ridge Marketplace for shopping and dining, quick a

Key facts

• Gated community
• Fully remodeled
• Brand new roof

Tags

• GATED COMMUNITY
• FULLY REMODELED
• BRAND NEW ROOF
• MODERN FINISHES
• NEW LVP FLOORING
• SPLIT FLOORPLAN

Property features AI

Finance

• Other: Community amenities include gated access and coin-operated community laundry
• HOA & community: Land lease (approximately $944 monthly); Association maintains grounds; Community pool; Community spa (heated); Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2-car carport
• Security: Gated community
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Vinyl siding; Steel frame construction; Painted exterior; Tile roof
• Exterior features: Storage space; Gravel/stone front yard; Gravel/stone backyard; Asphalt road access

Interior

• Kitchen: Built-in microwave; Laminate countertops; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: Up to 3 possible bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fans
• Interior features: Eat-in kitchen; Full bath in primary bedroom; Laminate counters; Refrigerator; Dishwasher; Garbage disposal
• Laundry & utility: Community laundry (coin-operated)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $83k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $83k).
• Recommended offer: $82k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.0% vs local median 3.3% in Phoenix — 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 75/100 on livability (#16 in AZ, #3,924 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime F.
• Paradise Valley Unified District (4241) (urban): math 39% / reading 46% proficiency, ranked #56 of 249 in AZ (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fireside Elementary School (math 76% / reading 80%, grade A, #19 of 1,109 statewide, top 2%, 730 students, 5% FRL); Mountain Trail Middle School (math 33% / reading 41%, grade F, #57 of 218 statewide, top 27%, 680 students, 24% FRL); Pinnacle High School (math 49% / reading 54%, grade D+, #35 of 381 statewide, top 9%, 2,479 students, 8% FRL) — zoned schools average 12% FRL vs 29% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 56% at this address vs 42% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Paradise Valley Unified District (4241) average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.0%/yr); 218 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $574 of loan paydown is wiped out by about $2k 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 + 2.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,755 (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. 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?
3. 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.
4. 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.
5. 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: 2.95% ✓
• Cap rate: 25.98%
• Cash-on-cash: 70.32%
• DSCR: 4.13
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $108,864
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19602 N 32nd St #21	0.00mi	3/1.5	1,152 (+14%)	4mo	$124,000	$108	71
19802 N 32nd St #51	0.14mi	2/2.0 (-1)	1,080 (+7%)	7mo	$49,500	$46	71
19645 N 30th St	0.11mi	3/2.0	1,147 (+14%)	18mo	$295,000	$257	57
2701 E Utopia Rd #8	0.68mi	3/2.0	984 (-2%)	14mo	$72,000	$73	53
2701 E Utopia Rd #66	0.68mi	2/2.0 (-1)	1,024 (+2%)	10mo	$50,000	$49	52
2701 E Utopia Rd #234	0.41mi	2/1.0 (-1)	896 (-11%)	3mo	$18,000	$20	51
19639 N 25th Pl	0.66mi	2/2.0 (-1)	1,057 (+5%)	12mo	$165,000	$156	46
2539 E Oraibi Dr	0.60mi	2/2.0 (-1)	985 (-2%)	21mo	$240,000	$244	46
19809 N 26th St	0.57mi	3/2.0	1,152 (+14%)	7mo	$125,000	$109	44
19802 N 32nd St #28	0.64mi	2/2.0 (-1)	1,152 (+14%)	22mo	$90,000	$78	23

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 · 1.98% rent growth · sell at horizon

5-year hold

• IRR: 68.7%
• Equity multiple: 4.05×
• Total profit: $70,839
• Equity at exit: $12,376

10-year hold

• IRR: 72.5%
• Equity multiple: 8.04×
• Total profit: $163,522
• Equity at exit: $7,176

Cash invested: $23,240 (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 85050

• Home prices YoY: -21.9%
• Rents YoY: 2.0%
• Active inventory: 218
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,450 high
• Mortgage (P&I): −$435
• Tax est. 1.5%: −$104 /mo · $1,245/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $1,362

Break-even live

Break-even rent $726

Max offer price $83,000

Occupancy floor 39%

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: $20,750
• Closing costs: $2,490
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19246 N 31st St Phoenix, AZ	4.0	2.0	1370	$2,375	$1.73	7d	1	0.22mi
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	22d	1	0.32mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	24d	1	0.36mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	15d	1	0.36mi
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,300	$1.57	1d	1	0.40mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	12d	1	0.40mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	2d	1	0.44mi
3214 E Siesta Ln Phoenix, AZ	2.0	2.0	1228	$2,200	$1.79	24d	1	0.50mi
3301 E Wescott Dr Phoenix, AZ	3.0	2.0	1101	$1,995	$1.81	24d	1	0.58mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,933	$1.93	2d	22	0.69mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$2,390	$2.60	2d	16	0.71mi
18617 N 35th St Phoenix, AZ	3.0	2.5	1425	$2,400	$1.68	11d	1	0.84mi
2336 E Utopia Rd Phoenix, AZ	2.0–3.0	2.5	1327	$2,395	$1.80	5d	1	0.85mi
2335 E Utopia Rd Unit 16 Phoenix, AZ	3.0	2.5	1426	$2,550	$1.79	18d	1	0.86mi
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,770	$1.95	1d	10	0.89mi
2755 E Michigan Ave Phoenix, AZ	3.0	2.0	1316	$2,700	$2.05	17d	1	0.98mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,964	$2.30	3d	62	1.04mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,955	$2.03	2d	11	1.05mi
2554 E Villa Rita Dr Phoenix, AZ	2.0	1.0	1118	$2,750	$2.46	24d	1	1.14mi
18416 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	786	$3,000	$3.81	4d	9	1.15mi
2602 E Charleston Ave Phoenix, AZ	3.0	2.0	1426	$2,100	$1.47	24d	1	1.18mi
3916 E Morrow Dr Phoenix, AZ	3.0	2.0	1350	$2,425	$1.80	12d	1	1.20mi
20007 N 20th Way Phoenix, AZ	3.0	2.0	1251	$3,900	$3.12	43d	1	1.21mi
20660 N 40th St #2137 Phoenix, AZ	2.0	2.0	1131	$3,500	$3.09	43d	1	1.22mi
17833 N 26th St Phoenix, AZ	4.0	2.0	1220	$2,397	$1.96	1d	1	1.23mi
2030 E Wahalla Ln Phoenix, AZ	3.0	2.0	1400	$2,115	$1.51	3d	1	1.24mi
18202 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	722	$1,500	$2.08	4d	7	1.25mi
20660 N 40th St Phoenix, AZ	2.0–3.0	2.0	1325	$3,500	$2.64	18d	4	1.26mi
2221 E Union Hills Dr #158 Phoenix, AZ	3.0	2.0	1332	$2,100	$1.58	18d	1	1.28mi
3316 E Helena Dr Phoenix, AZ	3.0	2.0	1176	$2,000	$1.70	24d	1	1.39mi
18239 N 40th St Phoenix, AZ	2.0	1.5–2.5	1460	$1,538	$1.05	24d	4	1.47mi
18239 N 40th St Phoenix, AZ	2.0	1.5–2.5	1494	$1,700	$1.14	15d	3	1.47mi
18239 N 40th St #168 Phoenix, AZ	2.0	2.5	1189	$1,698	$1.43	2d	1	1.47mi

Listing history 16 events

1. 2026-06-18
   days on market $83,000 Active 22 DOM
2. 2026-06-17
   price $83,000 Active 21 DOM
3. 2026-06-17
   days on market $84,000 Active 21 DOM
4. 2026-06-16
   days on market $84,000 Active 20 DOM
5. 2026-06-15
   days on market $84,000 Active 19 DOM
6. 2026-06-13
   days on market $84,000 Active 17 DOM
7. 2026-06-13
   days on market $84,000 Active 16 DOM
8. 2026-06-09
   pricedays on market $84,000 Active 13 DOM
9. 2026-06-08
   days on market $85,000 Active 12 DOM
10. 2026-06-07
    days on market $85,000 Active 11 DOM
11. 2026-06-04
    days on market $85,000 Active 8 DOM
12. 2026-06-03
    days on market $85,000 Active 7 DOM
13. 2026-06-02
    days on market $85,000 Active 6 DOM
14. 2026-06-01
    days on market $85,000 Active 5 DOM
15. 2026-05-31
    days on market $85,000 Active 4 DOM
16. 2026-05-27
    listed $85,000 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,400
• − Mortgage interest: −$4,649
• − Property taxes: −$1,245
• − Insurance: −$415
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − Depreciation: −$2,415
• Taxable income: $15,972
• Est. tax owed @ 24.0%: −$3,833
• After-tax cash flow: $12,510/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 fully remodeled single-wide is move-in ready with modern finishes and new LVP flooring, offering a great value in a gated community with amenities.

Value-add opportunities

• Both landscaping — improves curb appeal and adds value
• Both upgraded appliances — enhances kitchen functionality and aesthetics
• Both smart home integration — increases home's marketability and convenience

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and adds value ↑
• Both upgraded appliances — enhances kitchen functionality and aesthetics ↑
• Both smart home integration — increases home's marketability and convenience ↑

ⓘ 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: Paradise Valley Unified District (4241)
• NCES district ID: 0405930
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $64,106
• Composite: 37.89/100
• National rank: #4316
• State rank: #56 of 249 in AZ

Livability — Phoenix

• Score: 75/100
• State rank: #16
• US rank: #3924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, AZ
• County: Maricopa County · 4,537,380 people
• City population: 1,500,198
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 33,118
• Household income: $139,836
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 432.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Two or more races 11% Asian 9% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Italian 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 5% Other Asian/Pacific 2%

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: ▼ -86.38%
• Current HPI: 308.7483
• Rent YoY: ▲ 1.98%
• 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

1 event — show timeline

• 2026-05-27 Listed $85,000 ARMLS