2050 W Dunlap Ave Unit D42 · Phoenix, AZ 85021

$69,000

2 bd · 2.0 ba · 960 sqft · Manufactured · 151 Days on market

Built 1969 Est $53k · 31% over ↓ 19% 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
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.7/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this single-level residence in Phoenix! The recently renovated interior features fresh paint, ceiling fans, wood-look flooring, dual pane windows, and abundant natural light. You'll LOVE the perfectly flowing open floor plan, ideal for entertaining guests. The renewed kitchen comes with white cabinets, solid surface counters, a range hood, and an electric range. Have a good rest in the sizable primary bedroom, offering a walk-in closet and a private bathroom with dual sinks. The secondary bedroom includes a well-sized closet for added comfort. Outside, you will have a covered patio where you can unwind after a busy day. This turn-key abode is waiting for you!

Key facts

• Open floor plan
• Covered patio
• Renewed kitchen

Tags

• SINGLE-LEVEL RESIDENCE
• RECENTLY RENOVATED INTERIOR
• OPEN FLOOR PLAN
• RENEWED KITCHEN
• COVERED PATIO

Property features AI

Finance

• Other: Property listed as leasehold; Building and lot information sourced from assessor
• HOA & community: No association fees; Land lease of $985 monthly; Community pool; Community spa (heated); Pickleball courts; Community laundry; Near light rail stop

Exterior

• Parking: 1 open parking space; 2 covered spaces; 2 carport spaces
• Security: Gated community
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile housing; Leasehold ownership
• Construction: Steel frame construction; Painted exterior; Built-up roof
• Exterior features: Wood fencing; Gravel/stone front and back yard; Private maintained road

Interior

• Kitchen: Non-laminate counters; Disposal
• Bedrooms: 2 possible bedrooms
• Flooring: Vinyl floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: High-speed internet available; Double vanity in bathroom; No interior steps; Vaulted ceiling(s); Full bathroom in master bedroom; Dual-pane windows
• Laundry & utility: Indoor laundry with washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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.
• Glendale Union High School District (4285) (urban): math 23% / reading 31% proficiency, ranked #130 of 249 in AZ (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents falling (-3.1%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $477 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 + 0.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $6k (8%) 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 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.82% ✓
• Cap rate: 15.23%
• Cash-on-cash: 31.93%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $52,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2050 W Dunlap Ave Unit D54	0.21mi	2/2.0	1,104 (+15%)	23mo	$60,900	$55	46

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: 23.5%
• Equity multiple: 1.93×
• Total profit: $17,908
• Equity at exit: $10,288

10-year hold

• IRR: 29.4%
• Equity multiple: 3.26×
• Total profit: $43,630
• Equity at exit: $5,966

Cash invested: $19,320 (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 85021

• Rents YoY: -3.1%
• Active inventory: 188
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,254 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $514

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 54%

Sensitivity live

Price	-10% $562	-5% $538	+0% $514	+5% $490	+10% $466
Rent	-10% $415	-5% $465	+0% $514	+5% $564	+10% $613
Rate	-1.0pp $549	-0.5pp $532	base $514	+0.5pp $496	+1.0pp $478

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9202 N 19th Ave Phoenix, AZ	2.0	1.0–2.0	645	$1,550	$2.40	0d	12	0.18mi
2220 W Mission Ln Phoenix, AZ	1.0–3.0	1.0–2.0	944	$1,620	$1.72	0d	64	0.21mi
1814 W Vogel Ave Phoenix, AZ	1.0–2.0	1.0	737	$1,249	$1.69	2d	1	0.36mi
8902 N 19th Ave Phoenix, AZ	1.0–2.0	1.0	667	$1,155	$1.73	0d	12	0.36mi
1702 W Vogel Ave Unit C5 Phoenix, AZ	2.0	1.0	750	$845	$1.13	15d	1	0.45mi
1703 W Mountain View Rd Phoenix, AZ	1.0	1.0	625	$795	$1.27	2d	1	0.49mi
9633 N 17th Ave Unit 23 Phoenix, AZ	2.0	1.0	735	$1,395	$1.90	14d	1	0.49mi
9633 N 17th Ave Unit 16 Phoenix, AZ	1.0	1.0	650	$1,095	$1.68	2d	1	0.49mi
2323 W Dunlap Ave Phoenix, AZ	1.0–2.0	1.0–2.0	788	$1,365	$1.73	0d	9	0.53mi
10034 N 18th Ave Unit 1 Phoenix, AZ	2.0	2.0	945	$949	$1.00	2d	1	0.54mi
1753 W Brown St Phoenix, AZ	3.0	1.0	1100	$1,450	$1.32	2d	1	0.54mi
10044 N 18th Ave Unit 2 Phoenix, AZ	2.0	2.0	945	$899	$0.95	2d	1	0.56mi
10044 N 18th Ave Unit 2 Phoenix, AZ	2.0	2.0	945	$899	$0.95	0d	1	0.56mi
1614 W Purdue Ave Unit 202 Phoenix, AZ	2.0	1.0	720	$895	$1.24	2d	1	0.56mi
1597 W Mountain View Rd Unit 7 Phoenix, AZ	2.0	1.0	856	$1,149	$1.34	19d	1	0.63mi
1597 W Mountain View Rd Unit 5 Phoenix, AZ	2.0	1.0	806	$1,155	$1.43	2d	1	0.63mi
2506 W Dunlap Ave Phoenix, AZ	2.0	1.0–2.0	719	$1,920	$2.67	0d	13	0.63mi
8530 N 22nd Ave Unit 1016 Phoenix, AZ	1.0	1.0	632	$1,099	$1.74	25d	1	0.66mi
8530 N 22nd Ave Unit 2008 Phoenix, AZ	2.0	2.0	996	$1,499	$1.51	18d	1	0.66mi
8530 N 22nd Ave Phoenix, AZ	1.0–2.0	1.0–2.0	814	$1,499	$1.84	11d	55	0.67mi
8530 N 22nd Ave Unit 1028 Phoenix, AZ	2.0	2.0	902	$1,399	$1.55	18d	1	0.67mi
8530 N 22nd Ave Unit 2041 Phoenix, AZ	1.0	1.0	632	$1,099	$1.74	2d	1	0.68mi
2122 W Butler Dr Phoenix, AZ	2.0	1.0–2.0	637	$1,550	$2.43	2d	12	0.69mi
8530 N 22nd Ave Unit 2057 Phoenix, AZ	1.0	1.0	707	$1,199	$1.70	2d	1	0.70mi
8530 N 22nd Ave Unit 2051 Phoenix, AZ	1.0	1.0	707	$1,199	$1.70	25d	1	0.71mi
8530 N 22nd Ave Unit 266 Phoenix, AZ	2.0	2.0	1000	$1,199	$1.20	2d	1	0.71mi
8530 N 22nd Ave Unit 2079 Phoenix, AZ	2.0	2.0	902	$1,399	$1.55	2d	1	0.72mi
8530 N 22nd Ave Unit 2119 Phoenix, AZ	1.0	1.0	632	$1,099	$1.74	18d	1	0.73mi
8530 N 22nd Ave Unit 2114 Phoenix, AZ	2.0	2.0	996	$1,499	$1.51	2d	1	0.76mi
1321 W Vogel Ave Unit 5 Phoenix, AZ	2.0	1.0	621	$1,050	$1.69	2d	1	0.77mi
2045 W Butler Dr Phoenix, AZ	1.0–3.0	1.0–2.0	738	$1,197	$1.62	0d	13	0.79mi
8330 N 19th Ave Phoenix, AZ	1.0–2.0	1.0–2.0	818	$1,440	$1.76	0d	25	0.82mi
8445 N 23rd Ave Unit 244 Phoenix, AZ	1.0	1.0	606	$1,040	$1.72	18d	1	0.82mi
2121 W Butler Dr Phoenix, AZ	1.0–3.0	1.0–2.5	1025	$2,095	$2.04	2d	33	0.84mi
8445 N 23rd Ave Phoenix, AZ	1.0	1.0	616	$1,045	$1.70	2d	3	0.84mi
10213 N 15th Ave Unit 1 Phoenix, AZ	2.0	1.0	850	$1,025	$1.21	11d	1	0.89mi
10213 N 15th Ave Unit 1 Phoenix, AZ	2.0	1.0	850	$950	$1.12	2d	1	0.89mi
1212 W Mountain View Rd Unit 1 Phoenix, AZ	1.0	1.0	580	$999	$1.72	2d	1	0.89mi
1212 W Mountain View Rd Unit 7 Phoenix, AZ	2.0	1.0	700	$1,150	$1.64	2d	1	0.89mi
10231 N 15th Ave Phoenix, AZ	2.0	1.0	625	$1,250	$2.00	14d	1	0.92mi

Listing history 23 events

1. 2026-06-21
   days on market $69,000 Active 151 DOM
2. 2026-06-18
   days on market $69,000 Active 148 DOM
3. 2026-06-17
   days on market $69,000 Active 147 DOM
4. 2026-06-16
   days on market $69,000 Active 146 DOM
5. 2026-06-15
   days on market $69,000 Active 145 DOM
6. 2026-06-13
   days on market $69,000 Active 143 DOM
7. 2026-06-09
   days on market $69,000 Active 139 DOM
8. 2026-06-08
   days on market $69,000 Active 138 DOM
9. 2026-06-07
   days on market $69,000 Active 137 DOM
10. 2026-06-04
    days on market $69,000 Active 134 DOM
11. 2026-06-03
    days on market $69,000 Active 133 DOM
12. 2026-06-02
    days on market $69,000 Active 132 DOM
13. 2026-06-01
    days on market $69,000 Active 131 DOM
14. 2026-05-31
    days on market $69,000 Active 130 DOM
15. 2026-05-18
    price $69,000
16. 2026-05-04
    price $74,500
17. 2026-01-19
    listed $75,000 Active
18. 2025-11-30
    historical
19. 2025-11-01
    status Active
20. 2025-11-01
    historical
21. 2025-09-12
    price $77,777
22. 2025-07-12
    price $79,900
23. 2025-06-10
    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 3/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥112°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,053
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$2,007
• Taxable income: $5,392
• Est. tax owed @ 24.0%: −$1,294
• After-tax cash flow: $4,876/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: Glendale Union High School District (4285)
• NCES district ID: 0403450
• Math proficiency: 23% ▼ -38.00%
• Reading proficiency: 31% ▼ -19.00%
• Median HH income: $40,846
• Composite: 22.81/100
• National rank: #8020
• State rank: #130 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): 39,828
• Household income: $59,768
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2553.0

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 0.68)
• Race & ethnicity: White 44% Hispanic / Latino 34% Two or more races 21% Black 12% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 27% Cuban 2%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 73% English-only · Spanish 22% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -450.91%
• Current HPI: 328.1754
• Rent YoY: ▼ -3.08%
• 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

-18.8% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $69,000 ARMLS
• 2026-05-04 Price Changed $74,500 ARMLS
• 2026-01-19 Listed $75,000 ARMLS
• 2025-11-30 Listing Removed — ARMLS
• 2025-11-01 Relisted — ARMLS
• 2025-11-01 Listing Removed — ARMLS
• 2025-09-12 Price Changed $77,777 ARMLS
• 2025-07-12 Price Changed $79,900 ARMLS
• 2025-06-10 Listed $85,000 ARMLS