2233 E Behrend Dr #45 · Phoenix, AZ 85024

$94,900

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 237 Days on market

Built 1985 Good condition $85/sqft · 19% above area Est $80k · 19% over ↓ 21% since listing

---

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
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Oversized 70'x16' (1,120 sf) single-wide with great views of the boulders! Desirable split 2 bed, 2 bath floor plan with new roof (2024), exterior paint (Sept 2025). Features vaulted ceilings, double-pane windows, ceiling fans, and a spacious kitchen with granite counters, breakfast bar, island, hallway pantry, and heavy-duty metal pull-out drawers. Stainless steel appliances, two refrigerators, washer, and dryer included. Great room layout ideal for entertaining. Oversized covered patio with double-door entry & extra-long carport for up to four cars. Community offers 2 pools, pickleball, tennis, clubhouse, and more. No rentals allowed. Park requires minimum credit score of 750, 3x the lot rent in verifiable monthly income, & pass a background check. 55+ Community. Lot Rent $1030 monthly

Key facts

• 4 parking spots
• Community pool
• Built 1985

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.1% 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.
• Market conditions: Rents rising (+1.4%/yr); 201 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 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 + 1.4% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 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. 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?
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: 2.23% ✓
• Cap rate: 19.12%
• Cash-on-cash: 45.80%
• DSCR: 3.04
• GRM: 3.7

CMA / ARV

• ARV (median comp): $79,950
• List price: $94,900
• Delta: 18.70%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2233 E Behrend Dr #219	0.09mi	2/2.0	1,152 (+3%)	0mo	$90,000	$78	91
2233 E Behrend Dr #81	0.00mi	2/2.0	1,040 (-7%)	2mo	$52,000	$50	87
2233 E Behrend Dr #92	0.00mi	2/2.0	1,056 (-6%)	5mo	$20,000	$19	86
2233 E Behrend Dr #210	0.14mi	2/2.0	1,144 (+2%)	7mo	$150,000	$131	84
2233 E Behrend Dr #93	0.08mi	2/2.0	1,056 (-6%)	6mo	$47,000	$45	81
2233 E Behrend Dr #152	0.00mi	2/2.0	980 (-12%)	3mo	$42,500	$43	77
2233 E Behrend Dr #78	0.00mi	3/2.0 (+1)	1,248 (+11%)	0mo	$69,900	$56	76
2233 E Behrend Dr #29	0.14mi	2/2.0	1,248 (+11%)	2mo	$131,000	$105	72
2233 E Behrend Dr #121	0.14mi	2/2.0	1,240 (+11%)	7mo	$54,900	$44	70
19809 N 26th St	0.60mi	3/2.0 (+1)	1,152 (+3%)	7mo	$125,000	$109	57
19225 N Cave Creek Rd #45	0.47mi	2/2.0	1,248 (+11%)	11mo	$47,900	$38	50
2701 E Utopia Rd #66	0.70mi	2/2.0	1,024 (-9%)	10mo	$50,000	$49	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 · 1.44% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 2.73×
• Total profit: $45,973
• Equity at exit: $14,150

10-year hold

• IRR: 46.7%
• Equity multiple: 5.15×
• Total profit: $110,334
• Equity at exit: $8,205

Cash invested: $26,572 (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 85024

• Home prices YoY: -21.0%
• Rents YoY: 1.4%
• Active inventory: 201
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,114 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,424/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $1,014

Break-even live

Break-even rent $830

Max offer price $94,900

Occupancy floor 47%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 E Wahalla Ln Phoenix, AZ	3.0	2.0	1400	$2,115	$1.51	2d	1	0.25mi
2336 E Utopia Rd Phoenix, AZ	2.0–3.0	2.5	1327	$2,395	$1.80	5d	1	0.27mi
2335 E Utopia Rd Unit 16 Phoenix, AZ	3.0	2.5	1426	$2,550	$1.79	18d	1	0.28mi
20007 N 20th Way Phoenix, AZ	3.0	2.0	1251	$3,900	$3.12	43d	1	0.28mi
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,770	$1.95	1d	10	0.37mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,643	$1.64	1d	22	0.43mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,694	$1.98	2d	62	0.46mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$2,390	$2.60	2d	16	0.48mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,622	$1.69	1d	11	0.58mi
18416 N Cave Creek Rd Unit 6 Phoenix, AZ	1.0	1.0	748	$1,250	$1.67	7d	1	0.70mi
2221 E Union Hills Dr #158 Phoenix, AZ	3.0	2.0	1332	$2,100	$1.58	18d	1	0.71mi
18416 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	786	$3,000	$3.81	3d	9	0.77mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1245	$1,775	$1.43	21d	4	0.80mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1169	$1,675	$1.43	2d	3	0.80mi
1510 E Taro Ln Phoenix, AZ	3.0	2.0	1136	$2,149	$1.89	24d	1	0.82mi
1717 E Union Hills Dr #1052 Phoenix, AZ	2.0	2.0	1160	$4,000	$3.45	43d	1	0.85mi
1506 E Wescott Dr Phoenix, AZ	3.0	2.0	1136	$2,045	$1.80	5d	1	0.85mi
18202 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	722	$1,148	$1.59	3d	7	0.90mi
1420 E Topeka Dr Phoenix, AZ	3.0	2.5	1464	$2,215	$1.51	7d	1	0.94mi
18633 N 15th St Phoenix, AZ	3.0	2.0	1240	$2,249	$1.81	7d	1	0.95mi
2077 E Charleston Ave Phoenix, AZ	2.0	1.0	720	$1,295	$1.80	24d	1	1.03mi
2067 E Charleston Ave Phoenix, AZ	2.0	2.0	840	$1,395	$1.66	24d	1	1.03mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	1d	1	1.07mi
2554 E Villa Rita Dr Phoenix, AZ	2.0	1.0	1118	$2,750	$2.46	24d	1	1.09mi
1702 E Michelle Dr Phoenix, AZ	2.0	2.0	1300	$2,200	$1.69	4d	1	1.10mi
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,300	$1.57	1d	1	1.13mi
2755 E Michigan Ave Phoenix, AZ	3.0	2.0	1316	$2,700	$2.05	17d	1	1.15mi
2602 E Charleston Ave Phoenix, AZ	3.0	2.0	1426	$2,100	$1.47	24d	1	1.16mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	12d	1	1.22mi
17602 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	650	$1,625	$2.50	2d	13	1.23mi
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	21d	1	1.24mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	24d	1	1.35mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	14d	1	1.35mi
17606 N 17th Pl Phoenix, AZ	2.0–3.0	2.0–2.5	1463	$1,999	$1.37	2d	3	1.35mi
17606 N 17th Pl Phoenix, AZ	2.0–3.0	2.5	1472	$1,999	$1.36	12d	3	1.35mi
3214 E Siesta Ln Phoenix, AZ	2.0	2.0	1228	$2,200	$1.79	24d	1	1.40mi
1814 E Bell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	1003	$1,637	$1.63	1d	12	1.45mi
17150 N 23rd St #135 Phoenix, AZ	2.0	2.5	1186	$1,900	$1.60	14d	1	1.46mi
17365 N Cave Creek Rd #124 Phoenix, AZ	3.0	2.5	1468	$2,299	$1.57	14d	1	1.46mi
3301 E Wescott Dr Phoenix, AZ	3.0	2.0	1101	$1,995	$1.81	24d	1	1.47mi

Listing history 8 events

1. 2026-06-03
   days on market $94,900 Active 237 DOM
2. 2026-06-02
   days on market $94,900 Active 236 DOM
3. 2026-06-01
   days on market $94,900 Active 235 DOM
4. 2026-05-31
   days on market $94,900 Active 234 DOM
5. 2026-04-28
   price $94,900 807-char remark

   Show marketing remark (807 chars)

   Oversized 70'x16' (1,120 sf) single-wide with great views of the boulders! Desirable split 2 bed, 2 bath floor plan with new roof (2024), exterior paint (Sept 2025). Features vaulted ceilings, double-pane windows, ceiling fans, and a spacious kitchen with granite counters, breakfast bar, island, hallway pantry, and heavy-duty metal pull-out drawers. Stainless steel appliances, two refrigerators, washer, and dryer included. Great room layout ideal for entertaining. Oversized covered patio with double-door entry & extra-long carport for up to four cars. Community offers 2 pools, pickleball, tennis, clubhouse, and more. No rentals allowed. Park requires minimum credit score of 750, 3x the lot rent in verifiable monthly income, & pass a background check. 55+ Community. Lot Rent $1030 monthly

6. 2026-02-23
   price $100,000 807-char remark

   Show marketing remark (807 chars)

   Oversized 70'x16' (1,120 sf) single-wide with great views of the boulders! Desirable split 2 bed, 2 bath floor plan with new roof (2024), exterior paint (Sept 2025). Features vaulted ceilings, double-pane windows, ceiling fans, and a spacious kitchen with granite counters, breakfast bar, island, hallway pantry, and heavy-duty metal pull-out drawers. Stainless steel appliances, two refrigerators, washer, and dryer included. Great room layout ideal for entertaining. Oversized covered patio with double-door entry & extra-long carport for up to four cars. Community offers 2 pools, pickleball, tennis, clubhouse, and more. No rentals allowed. Park requires minimum credit score of 750, 3x the lot rent in verifiable monthly income, & pass a background check. 55+ Community. Lot Rent $1030 monthly

7. 2026-01-21
   price $115,000 807-char remark

   Show marketing remark (807 chars)

   Oversized 70'x16' (1,120 sf) single-wide with great views of the boulders! Desirable split 2 bed, 2 bath floor plan with new roof (2024), exterior paint (Sept 2025). Features vaulted ceilings, double-pane windows, ceiling fans, and a spacious kitchen with granite counters, breakfast bar, island, hallway pantry, and heavy-duty metal pull-out drawers. Stainless steel appliances, two refrigerators, washer, and dryer included. Great room layout ideal for entertaining. Oversized covered patio with double-door entry & extra-long carport for up to four cars. Community offers 2 pools, pickleball, tennis, clubhouse, and more. No rentals allowed. Park requires minimum credit score of 750, 3x the lot rent in verifiable monthly income, & pass a background check. 55+ Community. Lot Rent $1030 monthly

8. 2025-10-09
   listed $120,000 Active 807-char remark

   Show marketing remark (807 chars)

   Oversized 70'x16' (1,120 sf) single-wide with great views of the boulders! Desirable split 2 bed, 2 bath floor plan with new roof (2024), exterior paint (Sept 2025). Features vaulted ceilings, double-pane windows, ceiling fans, and a spacious kitchen with granite counters, breakfast bar, island, hallway pantry, and heavy-duty metal pull-out drawers. Stainless steel appliances, two refrigerators, washer, and dryer included. Great room layout ideal for entertaining. Oversized covered patio with double-door entry & extra-long carport for up to four cars. Community offers 2 pools, pickleball, tennis, clubhouse, and more. No rentals allowed. Park requires minimum credit score of 750, 3x the lot rent in verifiable monthly income, & pass a background check. 55+ Community. Lot Rent $1030 monthly

ⓘ 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 5 d/yr ≥110°F today · 13 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: $25,365
• − Mortgage interest: −$5,316
• − Property taxes: −$1,424
• − Insurance: −$474
• − Repairs & maintenance: −$2,029
• − Management: −$2,029
• − Depreciation: −$2,761
• Taxable income: $11,332
• Est. tax owed @ 24.0%: −$2,720
• After-tax cash flow: $9,449/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 manufactured home is in good condition with recent updates and a desirable split floor plan. It's move-in ready with a good curb appeal and potential for further value through landscaping and exterior painting.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Paint exterior — Fresh paint can improve curb appeal and value
• Both Replace ceiling fans — Ceiling fans can improve air circulation and comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Paint exterior — Fresh paint can improve curb appeal and value ↑
• Both Replace ceiling fans — Ceiling fans can improve air circulation and comfort ↑

ⓘ 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): 26,199
• Household income: $106,724
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 547.0

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 16% Two or more races 12% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 3% Portuguese 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 78% English-only · Spanish 10% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -82.95%
• Current HPI: 312.7238
• Rent YoY: ▲ 1.44%
• 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

-20.9% since first listed

4 events — show timeline

• 2026-04-28 Price Changed $94,900 ARMLS
• 2026-02-23 Price Changed $100,000 ARMLS
• 2026-01-21 Price Changed $115,000 ARMLS
• 2025-10-09 Listed $120,000 ARMLS