16005 N 32nd St #31 · Phoenix, AZ 85032

$62,000

2 bd · 2.0 ba · 896 sqft · Manufactured · 169 Days on market

Built 2017 Good condition $69/sqft · 66% below area ↓ 21% 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 +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Age restricted 55+ Community - Turnkey ready, this great 2017 Cavco offers a large open floor plan with vaulted ceilings, featuring a split 2 bedroom, 2 bath layout. The kitchen boasts a gas range, stainless steel appliances, built-in microwave, pantry, and upgraded cabinets. Enjoy laminate flooring throughout and a full-size washer and dryer included. The hot water tank was replaced in 2023. Additional features include a shed, large carport, and covered patio area. The community offers a pool and clubhouse. Conveniently located near shopping and public transportation. Financing available.

Key facts

• Vaulted ceilings
• Turnkey ready
• Gas range

Tags

• TURNKEY READY
• LARGE OPEN FLOOR PLAN
• VAULTED CEILINGS
• GAS RANGE
• STAINLESS STEEL APPLIANCES
• BUILT-IN MICROWAVE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $62k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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 soft (-1.5%/yr); 341 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $429 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $8k (11%) 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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: 2.16% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.44%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (median comp): $181,536
• List price: $62,000
• Delta: -65.85%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3239 E Kings Ave	0.25mi	2/2.0	980 (+9%)	8mo	$190,000	$194	66
16444 N 32nd Pl	0.32mi	2/2.0	990 (+10%)	4mo	$180,000	$182	64
16207 N 34th Way	0.22mi	2/1.0	801 (-11%)	6mo	$120,000	$150	63
16239 N 32nd Pl	0.19mi	2/2.0	961 (+7%)	21mo	$212,000	$221	62
16005 N 32nd St #121	0.04mi	1/1.0 (-1)	800 (-11%)	22mo	$15,000	$19	53

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: 36.9%
• Equity multiple: 2.50×
• Total profit: $26,080
• Equity at exit: $9,244

10-year hold

• IRR: 42.0%
• Equity multiple: 4.41×
• Total profit: $59,182
• Equity at exit: $5,361

Cash invested: $17,360 (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 85032

• Rents YoY: -1.5%
• Active inventory: 341
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$78 /mo · $930/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $628

Break-even live

Break-even rent $542

Max offer price $62,000

Occupancy floor 48%

Sensitivity live

Price	-10% $671	-5% $650	+0% $628	+5% $607	+10% $586
Rent	-10% $523	-5% $576	+0% $628	+5% $681	+10% $734
Rate	-1.0pp $660	-0.5pp $644	base $628	+0.5pp $612	+1.0pp $596

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16005 N 32nd St #148 Phoenix, AZ	2.0	2.0	780	$1,249	$1.60	0d	1	0.03mi
15826 N 32nd St Phoenix, AZ	2.0	1.0–2.0	611	$1,436	$2.35	8d	25	0.24mi
3027 E Grandview Rd Unit 3027-B Phoenix, AZ	2.0	1.0	912	$1,375	$1.51	8d	1	0.35mi
16225 N 30th St #9 Phoenix, AZ	2.0	1.5	968	$1,350	$1.39	25d	1	0.36mi
13440 N 44th St Unit 1 Phoenix, AZ	1.0	1.0	783	$1,441	$1.84	8d	1	0.40mi
13440 N 44th St Unit 2 Phoenix, AZ	2.0	2.0	1102	$1,748	$1.59	11d	1	0.40mi
16402 N 31st St #119 Phoenix, AZ	2.0	2.0	933	$1,375	$1.47	19d	1	0.40mi
16402 N 31st St #119 Phoenix, AZ	2.0	2.0	933	$1,375	$1.47	5d	1	0.40mi
15434 N 32nd St Phoenix, AZ	1.0–2.0	1.0–2.0	835	$1,250	$1.50	0d	8	0.40mi
16645 N 31st St Phoenix, AZ	2.0	1.0	483	$1,595	$3.30	2d	6	0.46mi
15801 N 29th St #1 Phoenix, AZ	2.0	2.0	1108	$1,650	$1.49	22d	1	0.47mi
15601 N 30th St Unit 5 Phoenix, AZ	2.0	2.0	950	$1,375	$1.45	16d	1	0.50mi
2844 E Marconi Ave Unit 101 Phoenix, AZ	3.0	3.0	1123	$1,550	$1.38	22d	1	0.54mi
2838 E Monte Cristo Ave Unit 102 Phoenix, AZ	1.0	1.0	780	$1,200	$1.54	8d	1	0.55mi
2846 E Kathleen Rd Unit 103 Phoenix, AZ	2.0	1.5	1106	$949	$0.86	25d	1	0.55mi
2846 E Kathleen Rd Phoenix, AZ	2.0	2.0	1106	$949	$0.86	25d	1	0.55mi
2837 E Marconi Ave Unit 102 Phoenix, AZ	1.0	1.0	700	$950	$1.36	25d	1	0.56mi
2837 E Marconi Ave Unit 203 Phoenix, AZ	2.0	1.0	900	$975	$1.08	25d	1	0.56mi
15605 N 29th St Unit 15605UNIT10-1 Phoenix, AZ	2.0	1.0	850	$899	$1.06	25d	1	0.57mi
2826 E Monte Cristo Ave Phoenix, AZ	2.0	2.0	929	$1,295	$1.39	16d	1	0.57mi
2826 E Monte Cristo Ave Unit 203 Phoenix, AZ	2.0	2.0	929	$1,295	$1.39	17d	1	0.57mi
2826 E Le Marche Ave Unit 102 Phoenix, AZ	1.0	1.0	725	$1,000	$1.38	6d	1	0.58mi
2931 E Beck Ln Apt 1 Phoenix, AZ	2.0	2.0	852	$1,175	$1.38	6d	1	0.58mi
2822 E Kathleen Rd Unit 203 Phoenix, AZ	2.0	2.0	850	$1,100	$1.29	6d	1	0.59mi
3420 E Bell Rd Phoenix, AZ	2.0	1.0–2.0	863	$2,214	$2.56	0d	22	0.59mi
2950 E Greenway Rd Phoenix, AZ	1.0–2.0	1.0	712	$1,500	$2.11	4d	7	0.59mi
2821 E Kathleen Rd Unit 101 Phoenix, AZ	2.0	1.5	1106	$900	$0.81	25d	1	0.61mi
2845 E Tracy Ln #4 Phoenix, AZ	2.0	1.0	780	$1,750	$2.24	11d	1	0.61mi
2821 E Kathleen Rd Phoenix, AZ	2.0	2.0	1106	$900	$0.81	25d	1	0.61mi
2807 E Paradise Ln Unit 103 Phoenix, AZ	3.0	3.0	1124	$1,475	$1.31	25d	1	0.62mi
2819 E Marconi Ave Unit 201 Phoenix, AZ	2.0	2.0	900	$950	$1.06	25d	1	0.62mi
2807 E Monte Cristo Ave Unit 102 Phoenix, AZ	2.0	2.0	900	$865	$0.96	25d	1	0.62mi
2814 E Kathleen Rd #102 Phoenix, AZ	1.0	1.0	700	$950	$1.36	25d	1	0.62mi
16815 N 29th St Phoenix, AZ	2.0	1.0	850	$1,050	$1.23	17d	3	0.62mi
16815 N 29th St Phoenix, AZ	2.0	1.0	850	$1,199	$1.41	25d	1	0.62mi
15417 N 29th St Phoenix, AZ	1.0	1.0	652	$1,134	$1.74	0d	3	0.63mi
2802 E Monte Cristo Ave Unit 102 Phoenix, AZ	1.0	1.0	929	$950	$1.02	25d	1	0.63mi
16815 N 29th St Apt 146 Phoenix, AZ	2.0	1.0	850	$999	$1.18	25d	1	0.65mi
2848 E Greenway Rd Phoenix, AZ	2.0	1.0	750	$1,350	$1.80	25d	1	0.68mi
16816 N 29th St Apt 202 Phoenix, AZ	2.0	2.0	800	$1,100	$1.38	8d	1	0.69mi

Listing history 24 events

1. 2026-06-21
   days on market $62,000 Active 169 DOM
2. 2026-06-18
   days on market $62,000 Active 166 DOM
3. 2026-06-17
   days on market $62,000 Active 165 DOM
4. 2026-06-16
   days on market $62,000 Active 164 DOM
5. 2026-06-15
   days on market $62,000 Active 163 DOM
6. 2026-06-13
   days on market $62,000 Active 161 DOM
7. 2026-06-13
   days on market $62,000 Active 160 DOM
8. 2026-06-09
   days on market $62,000 Active 157 DOM
9. 2026-06-08
   days on market $62,000 Active 156 DOM
10. 2026-06-07
    days on market $62,000 Active 155 DOM
11. 2026-06-04
    days on market $62,000 Active 152 DOM
12. 2026-06-03
    days on market $62,000 Active 151 DOM
13. 2026-06-02
    days on market $62,000 Active 150 DOM
14. 2026-06-01
    days on market $62,000 Active 149 DOM
15. 2026-05-31
    days on market $62,000 Active 148 DOM
16. 2026-02-24
    price $62,000 597-char remark

    Show marketing remark (597 chars)

    Age restricted 55+ Community - Turnkey ready, this great 2017 Cavco offers a large open floor plan with vaulted ceilings, featuring a split 2 bedroom, 2 bath layout. The kitchen boasts a gas range, stainless steel appliances, built-in microwave, pantry, and upgraded cabinets. Enjoy laminate flooring throughout and a full-size washer and dryer included. The hot water tank was replaced in 2023. Additional features include a shed, large carport, and covered patio area. The community offers a pool and clubhouse. Conveniently located near shopping and public transportation. Financing available.

17. 2026-01-03
    listed $69,900 Active 597-char remark

    Show marketing remark (597 chars)

    Age restricted 55+ Community - Turnkey ready, this great 2017 Cavco offers a large open floor plan with vaulted ceilings, featuring a split 2 bedroom, 2 bath layout. The kitchen boasts a gas range, stainless steel appliances, built-in microwave, pantry, and upgraded cabinets. Enjoy laminate flooring throughout and a full-size washer and dryer included. The hot water tank was replaced in 2023. Additional features include a shed, large carport, and covered patio area. The community offers a pool and clubhouse. Conveniently located near shopping and public transportation. Financing available.

18. 2025-11-16
    historical
19. 2025-06-28
    price $69,900
20. 2025-01-01
    status Active
21. 2025-01-01
    historical
22. 2024-10-11
    price $73,500
23. 2024-07-22
    price $74,900
24. 2024-06-06
    listed $78,500 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 1/10 Low
• 🌡 Heat 8/10 Severe 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: $16,055
• − Mortgage interest: −$3,473
• − Property taxes: −$930
• − Insurance: −$310
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$1,804
• Taxable income: $6,969
• Est. tax owed @ 24.0%: −$1,673
• After-tax cash flow: $5,869/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 2017 Cavco mobile home is in good condition with a good condition score of 80. It is move-in ready with a cosmetic rehab level and no visible repairs needed. The highest-ROI updates would be painting the exterior and cleaning the windows to enhance curb appeal and resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean windows — Improves natural light and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean windows — Improves natural light and aesthetics ↑

ⓘ 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): 70,839
• Household income: $78,643
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 2887.0

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 0.57)
• Race & ethnicity: White 59% Hispanic / Latino 29% Two or more races 17% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Romanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 18% · Canada, China
• Languages at home: 71% English-only · Spanish 21% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -488.65%
• Current HPI: 339.4181
• Rent YoY: ▼ -1.46%
• 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

-21.0% since first listed

9 events — show timeline

• 2026-02-24 Price Changed $62,000 ARMLS
• 2026-01-03 Listed $69,900 ARMLS
• 2025-11-16 Listing Removed — ARMLS
• 2025-06-28 Price Changed $69,900 ARMLS
• 2025-01-01 Relisted — ARMLS
• 2025-01-01 Listing Removed — ARMLS
• 2024-10-11 Price Changed $73,500 ARMLS
• 2024-07-22 Price Changed $74,900 ARMLS
• 2024-06-06 Listed $78,500 ARMLS