3609 N North Dakota Ave Unit A · Florence, AZ 85132

$165,000

2 bd · 2.0 ba · 1,397 sqft · Manufactured · 145 Days on market

Built 1985 Fair condition 5,280 sqft lot $118/sqft · 11% below area Est $185k · 11% under $50/mo HOA · 3% of rent

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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 +17.5/30.0
• ARV discount +12.4/15.0
• DSCR +5.5/10.0
• 1% rule +5.1/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand-new AC and you own the land, no lot rent. Located in the desirable Florence Gardens 55+ community, this 2-bedroom, Plus Den/Office, 2-bath home offers a smart layout with a finished addition that provides a spacious second living room, a large bedroom, and an updated bathroom. The original home includes two bedrooms and one bath with vaulted ceilings and updated flooring. A large shop/storage area is perfect for hobbies, tools, or extra storage. Enjoy low annual HOA and resort-style amenities including clubhouse, heated pool and spa, pickleball courts, fitness center, library, and golf course. Comfortable living with space, storage, and active adult amenities.

Key facts

• Fitness center
• Pickleball courts
• Library

Tags

• LARGE SHOP STORAGE AREA
• HEATED POOL
• PICKLEBALL COURTS
• FITNESS CENTER
• LIBRARY
• GOLF COURSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.2% in Florence — 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 60/100 on livability (#187 in AZ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Florence Unified School District (4437) (rural): math 16% / reading 24% proficiency, ranked #178 of 249 in AZ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 9,504 units permitted in Pinal County in 2024 (776 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.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $165k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.22%
• Cash-on-cash: 3.29%
• DSCR: 1.15
• GRM: 8.2

CMA / ARV

• ARV (median comp): $185,134
• List price: $165,000
• Delta: -10.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3716 N Montana Ave	0.18mi	3/2.0 (+1)	1,457 (+4%)	3mo	$150,000	$103	77
3822 N Iowa Ave	0.46mi	2/2.0	1,429 (+2%)	2mo	$280,000	$196	73
3809 N Kansas Ave	0.35mi	2/2.0	1,501 (+7%)	2mo	$198,500	$132	69
800 E Mississippi St	0.28mi	3/2.0 (+1)	1,260 (-10%)	3mo	$210,000	$167	63
3731 N Kansas Ave	0.30mi	3/2.0 (+1)	1,249 (-11%)	2mo	$195,000	$156	62
806 E Pennsylvania Ave	0.57mi	3/2.0 (+1)	1,457 (+4%)	0mo	$174,900	$120	61
3703 N Colorado Ave	0.30mi	3/2.0 (+1)	1,570 (+12%)	1mo	$265,000	$169	60
812 E Lancaster Cir	0.63mi	3/2.0 (+1)	1,457 (+4%)	4mo	$260,000	$178	55
3914 N Florence Blvd	0.59mi	2/2.0	1,248 (-11%)	0mo	$205,000	$164	54
808 E Pennsylvania Ave	0.58mi	2/2.0	1,249 (-11%)	2mo	$196,500	$157	54
3926 N Florence Blvd	0.66mi	2/2.0	1,561 (+12%)	3mo	$255,000	$163	47
813 E Pennsylvania Ave	0.57mi	3/2.0 (+1)	1,569 (+12%)	4mo	$180,000	$115	45

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 · 1.27% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.54×
• Total profit: $-21,455
• Equity at exit: $24,602

10-year hold

• IRR: -7.2%
• Equity multiple: 0.58×
• Total profit: $-19,360
• Equity at exit: $14,266

Cash invested: $46,200 (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 85132

• Home prices YoY: -5.2%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,667 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$50
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $127

Break-even live

Break-even rent $1,507

Max offer price $165,000

Occupancy floor 87%

Sensitivity live

Price	-10% $241	-5% $184	+0% $127	+5% $70	+10% $13
Rent	-10% $-5	-5% $61	+0% $127	+5% $193	+10% $259
Rate	-1.0pp $210	-0.5pp $169	base $127	+0.5pp $84	+1.0pp $41

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3611 N Michigan Ave Florence, AZ	2.0	1.5	1441	$1,600	$1.11	44d	1	0.12mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: poolgym

Listing history 25 events

1. 2026-06-18
   days on market $165,000 Active 145 DOM
2. 2026-06-17
   days on market $165,000 Active 144 DOM
3. 2026-06-16
   days on market $165,000 Active 143 DOM
4. 2026-06-15
   days on market $165,000 Active 142 DOM
5. 2026-06-13
   days on market $165,000 Active 140 DOM
6. 2026-06-13
   days on market $165,000 Active 139 DOM
7. 2026-06-09
   days on market $165,000 Active 136 DOM
8. 2026-06-08
   days on market $165,000 Active 135 DOM
9. 2026-06-07
   days on market $165,000 Active 134 DOM
10. 2026-06-04
    days on market $165,000 Active 131 DOM
11. 2026-06-03
    days on market $165,000 Active 130 DOM
12. 2026-06-02
    days on market $165,000 Active 129 DOM
13. 2026-06-01
    days on market $165,000 Active 128 DOM
14. 2026-05-31
    days on market $165,000 Active 127 DOM
15. 2026-04-23
    price $165,000 674-char remark

    Show marketing remark (674 chars)

    Brand-new AC and you own the land, no lot rent. Located in the desirable Florence Gardens 55+ community, this 2-bedroom, Plus Den/Office, 2-bath home offers a smart layout with a finished addition that provides a spacious second living room, a large bedroom, and an updated bathroom. The original home includes two bedrooms and one bath with vaulted ceilings and updated flooring. A large shop/storage area is perfect for hobbies, tools, or extra storage. Enjoy low annual HOA and resort-style amenities including clubhouse, heated pool and spa, pickleball courts, fitness center, library, and golf course. Comfortable living with space, storage, and active adult amenities.

16. 2026-03-21
    price $169,900 674-char remark

    Show marketing remark (674 chars)

    Brand-new AC and you own the land, no lot rent. Located in the desirable Florence Gardens 55+ community, this 2-bedroom, Plus Den/Office, 2-bath home offers a smart layout with a finished addition that provides a spacious second living room, a large bedroom, and an updated bathroom. The original home includes two bedrooms and one bath with vaulted ceilings and updated flooring. A large shop/storage area is perfect for hobbies, tools, or extra storage. Enjoy low annual HOA and resort-style amenities including clubhouse, heated pool and spa, pickleball courts, fitness center, library, and golf course. Comfortable living with space, storage, and active adult amenities.

17. 2026-01-24
    listed $175,000 Active 674-char remark

    Show marketing remark (674 chars)

    Brand-new AC and you own the land, no lot rent. Located in the desirable Florence Gardens 55+ community, this 2-bedroom, Plus Den/Office, 2-bath home offers a smart layout with a finished addition that provides a spacious second living room, a large bedroom, and an updated bathroom. The original home includes two bedrooms and one bath with vaulted ceilings and updated flooring. A large shop/storage area is perfect for hobbies, tools, or extra storage. Enjoy low annual HOA and resort-style amenities including clubhouse, heated pool and spa, pickleball courts, fitness center, library, and golf course. Comfortable living with space, storage, and active adult amenities.

18. 2021-04-23
    soldstatus $105,000 Closed 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

19. 2021-04-16
    status Pending 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

20. 2021-04-02
    historical Under Contract Accepting Backups 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

21. 2021-03-25
    status Active 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

22. 2021-03-20
    historical Under Contract Accepting Backups 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

23. 2021-03-19
    status Active 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

24. 2021-02-26
    historical Under Contract Accepting Backups 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

25. 2021-02-19
    listed $109,900 Active 531-char remark

    Show marketing remark (531 chars)

    Fully Furnished and very clean Redman Home in the desirable 55+ Florence Gardens Active Adult Community, where you own the land! This is a 1985 well kept two bdrm home, plus an additional bdrm in finished Arizona Room. Home has beautiful newer flooring throughout, Bay windows in dining area, tiled bathrooms, and built-in drawers in the Master Bedroom. Large covered patio, cooled workshop, and much more. The community has a Clubhouse, heated pool and spa, pickleball court, library, gym and golf course! Great for Rental too!

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 5 d/yr ≥112°F today · 13 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: $20,007
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$600
• − Depreciation: −$4,800
• Taxable loss: −$1,137
• Est. tax savings @ 24.0%: +$273
• After-tax cash flow: $1,795/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with a focus on painting and updating the kitchen and bathroom. The home has average condition and could benefit from a fresh paint job and modern updates to increase its resale and rental value.

Repairs flagged

• Major paint — paint appears faded and needs touch-up
• Minor kitchen cabinets — slight wear
• Minor bathroom vanity — slight wear

Value-add opportunities

• Both paint job — refreshes the home's appearance
• Both new flooring — improves aesthetics and durability
• Both kitchen cabinets and countertops — modernizes the kitchen and adds value
• Both bathroom vanity and fixtures — updates the bathroom and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · paint appears faded and needs touch-up	Major	$15,000–50,000
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom vanity · slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Both paint job — refreshes the home's appearance ↑
• Both new flooring — improves aesthetics and durability ↑
• Both kitchen cabinets and countertops — modernizes the kitchen and adds value ↑
• Both bathroom vanity and fixtures — updates the bathroom 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: Florence Unified School District (4437)
• NCES district ID: 0402920
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $54,426
• Composite: 18.31/100
• National rank: #8950
• State rank: #178 of 249 in AZ

Livability — Florence

• Score: 60/100
• State rank: #187
• US rank: #19483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AZ
• County: Pinal County · 399,947 people
• City population: 38,671
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 38,671
• Household income: $79,000
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 102.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Hispanic / Latino 28% Two or more races 9% Black 7% Native American 3%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 5% Portuguese 2% Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 17% German/W. Germanic 1% Russian/Polish/Slavic 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: ▼ -12.75%
• Current HPI: 233.6644
• Rent YoY: ▲ 1.27%
• 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

+50.1% since first listed

11 events — show timeline

• 2026-04-23 Price Changed $165,000 ARMLS
• 2026-03-21 Price Changed $169,900 ARMLS
• 2026-01-24 Listed $175,000 ARMLS
• 2021-04-23 Sold (MLS) $105,000 ARMLS
• 2021-04-16 Pending — ARMLS
• 2021-04-02 Contingent — ARMLS
• 2021-03-25 Relisted — ARMLS
• 2021-03-20 Contingent — ARMLS
• 2021-03-19 Relisted — ARMLS
• 2021-02-26 Contingent — ARMLS
• 2021-02-19 Listed $109,900 ARMLS