2233 E Behrend Dr #66 · Phoenix, AZ 85024

$164,900

2 bd · 2.0 ba · 1,708 sqft · Manufactured · 260 Days on market

Built 1992 Good condition $97/sqft · 27% above area Est $130k · 27% over ↓ 12% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER MOTIVATED!! BRING OFFERS! Welcome to Boulder Ridge, one of North Phoenix's premier 55+ active adult communities. This spacious double-wide manufactured home offers 1,708 sq ft of comfortable living with 2 bedrooms and 2 bathrooms. Dining Area could be turned into an enclosed office/den!! Inside, you'll find a bright and open floor plan featuring a large living room, separate dining area, wood laminate flooring, and newer carpet throughout. The generous kitchen boasts abundant counter space and mountain views, perfect for everyday living or entertaining. The oversized primary suite includes a large bathroom, while natural light fills every corner of the home. Outdoor living is equally impressive with a covered patio overlooking the hillside and boulders, plus a large storage shed. Boulder Ridge residents enjoy resort-style amenities: two heated pools, spa, clubhouse, fitness center, multi-sport court (including pickleball and tennis), hiking trails, and even on-site RV/boat parking. All appliances are included, and no rentals are allowed. Park approval required prior to offers (750+ credit score, no exceptions). Experience comfort, convenience, and community in this beautifully maintained property perfect for both year-round living or a seasonal retreat.

Key facts

• Heated pools
• Open floor plan
• Covered patio

Tags

• OPEN FLOOR PLAN
• ABUNDANT COUNTER SPACE
• MOUNTAIN VIEWS
• COVERED PATIO
• LARGE STORAGE SHED
• HEATED POOLS

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $621 ($7k/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 10.8% 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 $1k of loan paydown is wiped out by about $5k 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 $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($145k) 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 $145,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 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: 1.35% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.13%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $130,006
• List price: $164,900
• Delta: 26.84%
• 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 #34	0.15mi	2/2.0	1,680 (-2%)	1mo	$28,000	$17	90
2233 E Behrend Dr #250	0.00mi	3/2.0 (+1)	1,736 (+2%)	6mo	$149,500	$86	87
2233 E Behrend Dr #48	0.00mi	2/2.0	1,568 (-8%)	1mo	$70,000	$45	86
2233 E Behrend Dr #222	0.00mi	3/2.0 (+1)	1,806 (+6%)	9mo	$170,000	$94	78
2233 E Behrend Dr #24	0.14mi	3/2.0 (+1)	1,680 (-2%)	16mo	$125,000	$74	72
2233 E Behrend Dr #26	0.00mi	3/2.0 (+1)	1,456 (-15%)	5mo	$125,000	$86	66
2233 E Behrend Dr #197	0.09mi	2/2.0	1,456 (-15%)	7mo	$145,000	$100	65
2233 E Behrend Dr #234	0.14mi	2/2.0	1,534 (-10%)	15mo	$140,000	$91	64
2233 E Behrend Dr #17	0.18mi	3/2.0 (+1)	1,512 (-12%)	6mo	$135,000	$89	63
2431 E Tonto Ln	0.39mi	3/2.0 (+1)	1,792 (+5%)	8mo	$330,000	$184	62
2233 E Behrend Dr #76	0.14mi	3/2.0 (+1)	1,456 (-15%)	14mo	$66,000	$45	52
2233 E Behrend Dr #132	0.14mi	3/2.0 (+1)	1,456 (-15%)	15mo	$169,900	$117	51

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: 5.3%
• Equity multiple: 1.20×
• Total profit: $9,394
• Equity at exit: $24,587

10-year hold

• IRR: 13.3%
• Equity multiple: 1.99×
• Total profit: $45,518
• Equity at exit: $14,258

Cash invested: $46,172 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,228 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $621

Break-even live

Break-even rent $1,443

Max offer price $164,900

Occupancy floor 67%

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: $41,225
• Closing costs: $4,947
• 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	3d	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	3d	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
2239 E Morrow Dr Phoenix, AZ	3.0	3.0	1545	$2,199	$1.42	3d	1	0.49mi
18611 N 22nd St Phoenix, AZ	3.0	3.0	1851	$2,200	$1.19	12d	1	0.54mi
18611 N 22nd St #72 Phoenix, AZ	3.0	2.5	1851	$2,200	$1.19	15d	1	0.55mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,622	$1.69	2d	11	0.58mi
20445 N 21st St Phoenix, AZ	3.0	2.5	2240	$2,800	$1.25	3d	1	0.62mi
2636 E Tonto Ln Phoenix, AZ	3.0	2.0	1850	$2,800	$1.51	24d	1	0.64mi
2221 E Union Hills Dr #158 Phoenix, AZ	3.0	2.0	1332	$2,100	$1.58	18d	1	0.71mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1169	$1,675	$1.43	3d	3	0.80mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1245	$1,775	$1.43	21d	4	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
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
1440 E Renee Dr Phoenix, AZ	3.0	2.0	1632	$2,200	$1.35	24d	1	1.01mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	2d	1	1.07mi
3002 E Jeanette Ct Phoenix, AZ	3.0	2.0	1748	$2,700	$1.54	18d	1	1.08mi
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	5d	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
3039 E Hononegh Dr Phoenix, AZ	3.0	2.0	1520	$2,075	$1.37	15d	1	1.22mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	12d	1	1.22mi
2719 E Charleston Ave Phoenix, AZ	3.0	1.5	1670	$1,891	$1.13	21d	1	1.24mi
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	21d	1	1.24mi
3133 E Kristal Way Phoenix, AZ	3.0	2.5	1602	$2,600	$1.62	2d	1	1.26mi
1210 E Rosemonte Dr Phoenix, AZ	3.0	2.0	1896	$2,570	$1.36	5d	1	1.27mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	15d	1	1.35mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	24d	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

Listing history 5 events

1. 2026-05-31
   days on market $164,900 Active 260 DOM
2. 2026-02-19
   price $164,900 1281-char remark

   Show marketing remark (1281 chars)

   SELLER MOTIVATED!! BRING OFFERS! Welcome to Boulder Ridge, one of North Phoenix's premier 55+ active adult communities. This spacious double-wide manufactured home offers 1,708 sq ft of comfortable living with 2 bedrooms and 2 bathrooms. Dining Area could be turned into an enclosed office/den!! Inside, you'll find a bright and open floor plan featuring a large living room, separate dining area, wood laminate flooring, and newer carpet throughout. The generous kitchen boasts abundant counter space and mountain views, perfect for everyday living or entertaining. The oversized primary suite includes a large bathroom, while natural light fills every corner of the home. Outdoor living is equally impressive with a covered patio overlooking the hillside and boulders, plus a large storage shed. Boulder Ridge residents enjoy resort-style amenities: two heated pools, spa, clubhouse, fitness center, multi-sport court (including pickleball and tennis), hiking trails, and even on-site RV/boat parking. All appliances are included, and no rentals are allowed. Park approval required prior to offers (750+ credit score, no exceptions). Experience comfort, convenience, and community in this beautifully maintained property perfect for both year-round living or a seasonal retreat.

3. 2026-01-12
   price $169,900 1281-char remark

   Show marketing remark (1281 chars)

   SELLER MOTIVATED!! BRING OFFERS! Welcome to Boulder Ridge, one of North Phoenix's premier 55+ active adult communities. This spacious double-wide manufactured home offers 1,708 sq ft of comfortable living with 2 bedrooms and 2 bathrooms. Dining Area could be turned into an enclosed office/den!! Inside, you'll find a bright and open floor plan featuring a large living room, separate dining area, wood laminate flooring, and newer carpet throughout. The generous kitchen boasts abundant counter space and mountain views, perfect for everyday living or entertaining. The oversized primary suite includes a large bathroom, while natural light fills every corner of the home. Outdoor living is equally impressive with a covered patio overlooking the hillside and boulders, plus a large storage shed. Boulder Ridge residents enjoy resort-style amenities: two heated pools, spa, clubhouse, fitness center, multi-sport court (including pickleball and tennis), hiking trails, and even on-site RV/boat parking. All appliances are included, and no rentals are allowed. Park approval required prior to offers (750+ credit score, no exceptions). Experience comfort, convenience, and community in this beautifully maintained property perfect for both year-round living or a seasonal retreat.

4. 2025-11-11
   price $179,900 1281-char remark

   Show marketing remark (1281 chars)

   SELLER MOTIVATED!! BRING OFFERS! Welcome to Boulder Ridge, one of North Phoenix's premier 55+ active adult communities. This spacious double-wide manufactured home offers 1,708 sq ft of comfortable living with 2 bedrooms and 2 bathrooms. Dining Area could be turned into an enclosed office/den!! Inside, you'll find a bright and open floor plan featuring a large living room, separate dining area, wood laminate flooring, and newer carpet throughout. The generous kitchen boasts abundant counter space and mountain views, perfect for everyday living or entertaining. The oversized primary suite includes a large bathroom, while natural light fills every corner of the home. Outdoor living is equally impressive with a covered patio overlooking the hillside and boulders, plus a large storage shed. Boulder Ridge residents enjoy resort-style amenities: two heated pools, spa, clubhouse, fitness center, multi-sport court (including pickleball and tennis), hiking trails, and even on-site RV/boat parking. All appliances are included, and no rentals are allowed. Park approval required prior to offers (750+ credit score, no exceptions). Experience comfort, convenience, and community in this beautifully maintained property perfect for both year-round living or a seasonal retreat.

5. 2025-09-13
   listed $187,000 Active 1281-char remark

   Show marketing remark (1281 chars)

   SELLER MOTIVATED!! BRING OFFERS! Welcome to Boulder Ridge, one of North Phoenix's premier 55+ active adult communities. This spacious double-wide manufactured home offers 1,708 sq ft of comfortable living with 2 bedrooms and 2 bathrooms. Dining Area could be turned into an enclosed office/den!! Inside, you'll find a bright and open floor plan featuring a large living room, separate dining area, wood laminate flooring, and newer carpet throughout. The generous kitchen boasts abundant counter space and mountain views, perfect for everyday living or entertaining. The oversized primary suite includes a large bathroom, while natural light fills every corner of the home. Outdoor living is equally impressive with a covered patio overlooking the hillside and boulders, plus a large storage shed. Boulder Ridge residents enjoy resort-style amenities: two heated pools, spa, clubhouse, fitness center, multi-sport court (including pickleball and tennis), hiking trails, and even on-site RV/boat parking. All appliances are included, and no rentals are allowed. Park approval required prior to offers (750+ credit score, no exceptions). Experience comfort, convenience, and community in this beautifully maintained property perfect for both year-round living or a seasonal retreat.

ⓘ 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: $26,737
• − Mortgage interest: −$9,237
• − Property taxes: −$2,474
• − Insurance: −$824
• − Repairs & maintenance: −$2,139
• − Management: −$2,139
• − Depreciation: −$4,797
• Taxable income: $5,127
• Est. tax owed @ 24.0%: −$1,230
• After-tax cash flow: $6,217/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained double-wide manufactured home in a desirable 55+ community offers a good balance of updates and original features, making it a solid investment opportunity.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value.
• Rental Replace carpet in bedrooms — Improves comfort and appeal for renters.
• Both Clean and maintain HVAC system — Ensures comfort and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value. ↑
• Rental Replace carpet in bedrooms — Improves comfort and appeal for renters. ↑
• Both Clean and maintain HVAC system — Ensures comfort and energy efficiency. ↑

ⓘ 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

-11.8% since first listed

4 events — show timeline

• 2026-02-19 Price Changed $164,900 ARMLS
• 2026-01-12 Price Changed $169,900 ARMLS
• 2025-11-11 Price Changed $179,900 ARMLS
• 2025-09-13 Listed $187,000 ARMLS