3700 S Ironwood Dr #63 · Apache Junction, AZ 85120

$115,000

3 bd · 2.0 ba · 1,500 sqft · Manufactured · 128 Days on market

Built 1995 1,500 sqft lot Est $120k · at est. ↓ 14% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Gated community • Superstition Mountains views • Covered carport/patio. Single-level 3-bedroom, 2-bath manufactured home in Desert Harbor at 3700 S Ironwood Dr #63, Apache Junction. Open living/dining area connects to the kitchen with breakfast bar seating. Laminate plank flooring and ceiling fans. Primary suite plus two additional bedrooms. Covered parking and covered patio space, with low-maintenance gravel yard and turf area. Community amenities include clubhouse, pools, putting green, and dog park. Near The Shops on Ironwood, Banner Goldfield Medical Center (1.2 mi), and Signal Butte & US 60 Development (2.8 mi). Near W Baseline Ave and US 60 access. Lost Dutchman State

Key facts

• Gated community
• Covered carport
• Covered patio

Tags

• GATED COMMUNITY
• SUPERSTITION MOUNTAINS VIEWS
• COVERED CARPORT
• COVERED PATIO
• LOW-MAINTENANCE GRAVEL YARD
• TURF AREA

Property features AI

Finance

• Other: Lot area listed as 1,500 (source: owner); Property located inside a gated community — enter north to entrance on west side of road; enter through gate and take immediate right to property.
• HOA & community: Land lease (monthly); Land lease payment: $863 per month; Association covers sewer, trash and water

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: Private sewer; Private water company
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Wood frame construction; Painted exterior finish; Composition roof
• Exterior features: Desert-front lot; Block and other fencing; Community pool; Community spa (heated)

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal
• Bedrooms: Up to 4 possible bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 3/4 bath in primary bedroom; Dual-pane windows
• Laundry & utility: Washer/dryer hookup only

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 3.5% in Apache Junction — 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 66/100 on livability (#70 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Apache Junction Unified District (4443) (suburban): math 15% / reading 20% proficiency, ranked #195 of 249 in AZ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents falling (-3.5%/yr); 455 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• At $2,194/mo this rent would consume 46% of the median local household income ($58k/yr) (locally 686% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $14k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.91% ✓
• Cap rate: 16.09%
• Cash-on-cash: 34.98%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $120,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3700 S Ironwood Dr Lot 134	0.00mi	3/2.0	1,484 (-1%)	10mo	$40,000	$27	90
3700 S Ironwood Dr #196	0.00mi	2/2.0 (-1)	1,456 (-3%)	22mo	$95,000	$65	72
2208 W Baseline Ave #153	0.38mi	3/2.0	1,568 (+4%)	16mo	$115,000	$73	62
2208 W Baseline Ave #146	0.38mi	2/2.0 (-1)	1,568 (+4%)	13mo	$125,500	$80	58
2208 W Baseline Ave #190	0.38mi	2/2.0 (-1)	1,400 (-7%)	12mo	$105,000	$75	56
3700 S Ironwood Dr #72	0.00mi	2/2.0 (-1)	1,300 (-13%)	21mo	$140,000	$108	56
2208 W Baseline Ave #87	0.38mi	2/2.0 (-1)	1,344 (-10%)	8mo	$105,000	$78	53
2208 W Baseline Ave #56	0.38mi	3/2.0	1,323 (-12%)	14mo	$130,000	$98	51
2208 W Baseline Ave #94	0.38mi	2/2.0 (-1)	1,680 (+12%)	9mo	$122,500	$73	50
2208 W Baseline Ave #21	0.38mi	3/2.0	1,680 (+12%)	15mo	$154,900	$92	50
2208 W Baseline Ave	0.36mi	2/2.0 (-1)	1,344 (-10%)	21mo	$110,000	$82	44
2208 W Baseline Ave #88	0.40mi	2/2.0 (-1)	1,374 (-8%)	23mo	$140,000	$102	43

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: 27.1%
• Equity multiple: 2.08×
• Total profit: $34,744
• Equity at exit: $17,147

10-year hold

• IRR: 32.8%
• Equity multiple: 3.56×
• Total profit: $82,511
• Equity at exit: $9,943

Cash invested: $32,200 (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 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 455
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,194 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $939

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 52%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2611 W Gypsum Ave Apache Junction, AZ	2.0	2.5	2001	$2,235	$1.12	1d	1	0.60mi
3454 S Warner Dr Apache Junction, AZ	3.0	2.0	1300	$2,500	$1.92	24d	1	0.70mi
2043 S Thunderbird Dr Apache Junction, AZ	3.0	2.0	1348	$1,925	$1.43	24d	1	1.09mi
2065 W 20th Ave Apache Junction, AZ	3.0	2.0	1110	$1,850	$1.67	12d	1	1.14mi
650 W 22nd Ave Apache Junction, AZ	4.0	2.0	1564	$2,635	$1.68	5d	1	1.17mi
932 W 19th Ave Apache Junction, AZ	4.0	2.0	1666	$1,995	$1.20	24d	1	1.26mi
2101 S Yellow Wood #45 Mesa, AZ	2.0	2.0	1081	$1,649	$1.53	43d	1	1.29mi
2101 S Yellow Wood #60 Mesa, AZ	2.0	2.0	1371	$2,600	$1.90	1d	1	1.29mi
1446 S Palo Verde Dr Unit apache Apache Junction, AZ	2.0	2.0	1210	$1,700	$1.40	24d	1	1.46mi

Listing history 22 events

1. 2026-06-18
   days on market $115,000 Active 128 DOM
2. 2026-06-17
   days on market $115,000 Active 127 DOM
3. 2026-06-16
   days on market $115,000 Active 126 DOM
4. 2026-06-15
   days on market $115,000 Active 125 DOM
5. 2026-06-13
   days on market $115,000 Active 123 DOM
6. 2026-06-09
   days on market $115,000 Active 119 DOM
7. 2026-06-08
   days on market $115,000 Active 118 DOM
8. 2026-06-07
   days on market $115,000 Active 117 DOM
9. 2026-06-04
   days on market $115,000 Active 114 DOM
10. 2026-06-03
    days on market $115,000 Active 113 DOM
11. 2026-06-02
    days on market $115,000 Active 112 DOM
12. 2026-06-01
    days on market $115,000 Active 111 DOM
13. 2026-05-31
    days on market $115,000 Active 110 DOM
14. 2026-04-03
    price $124,000
15. 2026-02-10
    listed $129,000 Active
16. 2025-10-06
    historical
17. 2025-06-01
    status Active
18. 2025-06-01
    historical
19. 2025-03-08
    price $129,900
20. 2025-01-31
    price $139,900
21. 2024-12-30
    price $144,900
22. 2024-10-29
    listed $145,000 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 6 d/yr ≥111°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,328
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$3,345
• Taxable income: $10,028
• Est. tax owed @ 24.0%: −$2,407
• After-tax cash flow: $8,856/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: Apache Junction Unified District (4443)
• NCES district ID: 0400790
• Math proficiency: 15% ▼ -17.00%
• Reading proficiency: 20% ▼ -13.00%
• Median HH income: $44,930
• Composite: 15.34/100
• National rank: #9325
• State rank: #195 of 249 in AZ

Livability — Apache Junction

• Score: 66/100
• State rank: #70
• US rank: #11242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apache Junction, AZ
• County: Pinal County · 399,947 people
• City population: 56,611
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 31,191
• Household income: $57,786
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 686.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 16% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 3% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -128.31%
• Current HPI: 313.4666
• Rent YoY: ▼ -3.50%
• 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

-14.5% since first listed

9 events — show timeline

• 2026-04-03 Price Changed $124,000 ARMLS
• 2026-02-10 Listed $129,000 ARMLS
• 2025-10-06 Listing Removed — ARMLS
• 2025-06-01 Relisted — ARMLS
• 2025-06-01 Listing Removed — ARMLS
• 2025-03-08 Price Changed $129,900 ARMLS
• 2025-01-31 Price Changed $139,900 ARMLS
• 2024-12-30 Price Changed $144,900 ARMLS
• 2024-10-29 Listed $145,000 ARMLS