19602 N 32nd St N #108 · Phoenix, AZ 85050

$73,000

1 bd · 1.5 ba · 762 sqft · Manufactured · 13 Days on market

Built 2021 Good condition 2,500 sqft lot Est $59k · 23% over

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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 +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

All ages park in N. Phoenix! Imagine that? No age restrictions. This 2021 built home is well cared for and move-in ready. Zero grade entry too. Located in a gated entry park with amenities. Great community. Seller motivated! Yes, one bedroom, but has a bonus room that can be a second bedroom. Great work-from-home pad or place right off the 101 Loop at HWY 51. Carport and numerous other features. Community has a pool, clubhouse and playground.

Key facts

• 2,500 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Lot size listed as 2,500 (source: SqFt not available)
• HOA & community: Land lease community (monthly land lease); Land lease $944 monthly; Association covers grounds maintenance, street maintenance, and trash; Community pool, gated entry, community laundry, playground, and nearby bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Board and batten siding; Wood frame construction; Composition roof; Builder-provided building area info
• Exterior features: Desert-front lot; Asphalt road access; No fencing

Interior

• Kitchen: Garbage disposal
• Bedrooms: One bedroom
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Full bath in the master bedroom; Garbage disposal
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath manufactured listed at $73k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Cap rate 19.2% 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.
• 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.
• Zoned schools: Eagle Ridge Elementary School (math 25% / reading 30%, grade F, #592 of 1,109 statewide, top 54%, 374 students, 61% FRL); Mountain Trail Middle School (math 33% / reading 41%, grade F, #57 of 218 statewide, top 27%, 680 students, 24% FRL); Pinnacle High School (math 49% / reading 54%, grade D+, #35 of 381 statewide, top 9%, 2,479 students, 8% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising (+2.0%/yr); 218 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent is only 14% of the median local income ($140k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $505 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 + 2.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.24% ✓
• Cap rate: 19.25%
• Cash-on-cash: 46.27%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $59,436
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19602 N 32nd St #62	0.00mi	2/2.0 (+1)	784 (+3%)	13mo	$65,000	$83	77
19602 N 32nd St #24	0.00mi	2/2.0 (+1)	800 (+5%)	10mo	$62,000	$78	77
19602 N 32 St #78	0.00mi	2/2.0 (+1)	792 (+4%)	19mo	$50,000	$63	70

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 · 1.98% rent growth · sell at horizon

5-year hold

• IRR: 42.4%
• Equity multiple: 2.80×
• Total profit: $36,727
• Equity at exit: $10,885

10-year hold

• IRR: 48.0%
• Equity multiple: 5.40×
• Total profit: $90,032
• Equity at exit: $6,312

Cash invested: $20,440 (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 85050

• Home prices YoY: -21.9%
• Rents YoY: 2.0%
• Active inventory: 218
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,636 high
• Mortgage (P&I): −$383
• Tax est. 1.5%: −$91 /mo · $1,095/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $788

Break-even live

Break-even rent $639

Max offer price $73,000

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,354	$1.36	1d	22	0.69mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$1,912	$2.08	2d	16	0.71mi
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,385	$1.52	1d	10	0.89mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,424	$1.67	2d	62	1.04mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,290	$1.34	1d	11	1.05mi
2554 E Villa Rita Dr Phoenix, AZ	2.0	1.0	1118	$2,750	$2.46	24d	1	1.14mi
18416 N Cave Creek Rd Phoenix, AZ	2.0	1.0–2.0	786	$1,975	$2.51	3d	9	1.15mi
18416 N Cave Creek Rd Unit 6 Phoenix, AZ	1.0	1.0	748	$1,250	$1.67	7d	1	1.15mi
18202 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	722	$795	$1.10	3d	7	1.25mi
18239 N 40th St Phoenix, AZ	2.0	1.5–2.5	1460	$1,538	$1.05	24d	4	1.47mi

Listing history 10 events

1. 2026-06-18
   days on market $73,000 Active 13 DOM
2. 2026-06-17
   days on market $73,000 Active 12 DOM
3. 2026-06-16
   days on market $73,000 Active 11 DOM
4. 2026-06-15
   days on market $73,000 Active 10 DOM
5. 2026-06-13
   days on market $73,000 Active 8 DOM
6. 2026-06-13
   days on market $73,000 Active 7 DOM
7. 2026-06-09
   days on market $73,000 Active 4 DOM
8. 2026-06-08
   days on market $73,000 Active 3 DOM
9. 2026-06-07
   remarks 449-char remark
10. 2026-06-07
    listed $73,000 Active 2 DOM

ⓘ 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 6 d/yr ≥111°F today · 17 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: $19,634
• − Mortgage interest: −$4,089
• − Property taxes: −$1,095
• − Insurance: −$365
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$2,124
• Taxable income: $8,820
• Est. tax owed @ 24.0%: −$2,117
• After-tax cash flow: $7,340/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 80/100 Cosmetic rehab

This 2021 manufactured home is move-in ready with good condition and minimal repairs needed. It's located in a gated community with amenities, making it a great investment.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both trim landscaping — improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both trim landscaping — improves curb appeal and rental value ↑

ⓘ 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): 33,118
• Household income: $139,836
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 432.0

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 11% Two or more races 11% Asian 9% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Italian 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 5% Other Asian/Pacific 2%

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: ▼ -86.38%
• Current HPI: 308.7483
• Rent YoY: ▲ 1.98%
• 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

1 event — show timeline

• 2026-06-05 Listed $73,000 ARMLS