2292 N Ironwood Dr #126 · Apache Junction, AZ 85120

$85,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured · 84 Days on market

Built 1987 Excellent condition Est $76k · 12% over ↓ 6% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.8/5.0
• Livability +3.3/5.0
• ARV discount +2.2/15.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and beautifully upgraded 2 bed/2 bath home in the all ages community of Windsong! This open floorplan creates a breezy flow! Enjoy new luxury vinyl plank flooring throughout, fully upgraded kitchen, fully upgraded bathroom, new water heater and more!! Enjoy cooling off in the community pool in the upcoming summer months, as well as hiking trails nearby!

Key facts

• Upgraded bathroom
• Community pool
• Upgraded kitchen

Tags

• UPGRADED KITCHEN
• UPGRADED BATHROOM
• COMMUNITY POOL
• HIKING TRAILS

Property features AI

Finance

• Other: Tax information available
• HOA & community: Land lease of $715 per month; No association fees listed; Community pool

Exterior

• Parking: 1 covered parking space; 1 open parking space; 1 carport space
• Utilities: City water; Public sewer
• Home design: Manufactured / mobile home; Leasehold property
• Construction: Wood frame construction; Painted exterior; Composition roof; Building area reported by owner
• Exterior features: Gravel/stone front yard; Gravel/stone backyard; No fencing; Composition roof; Wood frame construction; Painted exterior

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fan(s)
• Interior features: Eat-in kitchen; No interior steps; Full bath in primary bedroom
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $85k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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+, amenities F, commute 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.
• Zoned schools: Four Peaks Elementary School (math 12% / reading 17%, grade F, #898 of 1,109 statewide, top 83%, 498 students, 73% FRL); Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL).
• Market conditions: Rents falling (-3.5%/yr); 468 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.86% ✓
• Cap rate: 15.61%
• Cash-on-cash: 33.27%
• DSCR: 2.48
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $76,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2292 N Ironwood Dr #08	0.00mi	3/2.0 (+1)	1,200 (+4%)	5mo	$79,000	$66	84
2292 N Ironwood Dr #41	0.12mi	2/2.0	1,080 (-6%)	3mo	$16,000	$15	81
2292 N Ironwood Dr #128	0.00mi	3/2.0 (+1)	1,232 (+7%)	3mo	$84,000	$68	81
2292 N Ironwood Dr #127	0.12mi	2/2.0	1,232 (+7%)	3mo	$70,300	$57	81
2292 N Ironwood Dr #84	0.00mi	2/2.0	1,024 (-11%)	3mo	$25,000	$24	79
1975 W Smoketree St	0.33mi	2/1.5	1,121 (-3%)	6mo	$315,000	$281	73
2292 N Ironwood Dr #103	0.12mi	2/2.0	1,008 (-12%)	5mo	$18,000	$18	70
2200 N Delaware Dr #62	0.40mi	3/2.0 (+1)	1,100 (-4%)	2mo	$75,000	$68	67
1280 N Ironwood Dr #6	0.63mi	2/2.0	1,152 (0%)	4mo	$45,600	$40	67
2292 N Ironwood Dr #34	0.12mi	3/2.0 (+1)	1,024 (-11%)	5mo	$60,000	$59	67
875 W Smoketree St	0.67mi	2/2.0	1,080 (-6%)	7mo	$337,000	$312	52
1479 N Delaware Dr	0.59mi	2/2.0	1,248 (+8%)	8mo	$311,000	$249	52

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: 25.1%
• Equity multiple: 1.99×
• Total profit: $23,647
• Equity at exit: $12,674

10-year hold

• IRR: 30.9%
• Equity multiple: 3.39×
• Total profit: $56,919
• Equity at exit: $7,349

Cash invested: $23,800 (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: 468
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,579 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $660

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 53%

Sensitivity live

Price	-10% $719	-5% $689	+0% $660	+5% $630	+10% $601
Rent	-10% $535	-5% $597	+0% $660	+5% $722	+10% $785
Rate	-1.0pp $703	-0.5pp $681	base $660	+0.5pp $638	+1.0pp $615

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2292 N Ironwood Dr Apache Junction, AZ	2.0	2.0	1152	$1,475	$1.28	25d	1	0.02mi
1877 W Overland St Apache Junction, AZ	3.0	2.0	1420	$1,999	$1.41	17d	1	0.76mi
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	5d	1	1.10mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	25d	1	1.17mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1010	$1,900	$1.88	25d	3	1.24mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	24d	1	1.36mi
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	21d	1	1.36mi

Listing history 13 events

1. 2026-06-16
   days on market $85,000 Active 84 DOM
2. 2026-06-15
   days on market $85,000 Active 83 DOM
3. 2026-06-13
   days on market $85,000 Active 81 DOM
4. 2026-06-09
   days on market $85,000 Active 77 DOM
5. 2026-06-08
   days on market $85,000 Active 76 DOM
6. 2026-06-07
   days on market $85,000 Active 75 DOM
7. 2026-06-04
   days on market $85,000 Active 72 DOM
8. 2026-06-03
   days on market $85,000 Active 71 DOM
9. 2026-06-02
   days on market $85,000 Active 70 DOM
10. 2026-06-01
    days on market $85,000 Active 69 DOM
11. 2026-05-31
    days on market $85,000 Active 68 DOM
12. 2026-05-15
    price $85,000
13. 2026-03-24
    listed $90,000 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $18,945
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$2,473
• Taxable income: $6,980
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $6,242/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

Excellent 95/100 None rehab

This beautifully upgraded 2-bedroom, 2-bathroom home in Windsong Mobile Home Park is move-in ready with new flooring, kitchen, and bathrooms. It offers a spacious floor plan and is conveniently located near community amenities and hiking trails.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers/renters.
• Both Add a small outdoor seating area — Can increase both resale and rental value by adding a functional and attractive outdoor space.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers/renters. ↑
• Both Add a small outdoor seating area — Can increase both resale and rental value by adding a functional and attractive outdoor space. ↑

ⓘ 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: 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

-5.6% since first listed

2 events — show timeline

• 2026-05-15 Price Changed $85,000 ARMLS
• 2026-03-24 Listed $90,000 ARMLS