8401 N 67th Ave #97 · Glendale, AZ 85302

$112,500

4 bd · 2.0 ba · 1,456 sqft · Manufactured · 153 Days on market

Built 1988 Est $125k · 10% under ↓ 25% 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
• ARV discount +12.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 4-bedroom manufactured home in Orange Grove Estates! Discover the bright interior, showcasing wood-look flooring, vaulted ceilings for a feeling of openness, and earthy colors. The galley-style kitchen boasts spacious cabinets, ample counter space, and built-in essentials. The main bedroom promises a good night's sleep and hosts a closet with mirrored doors and a private bathroom for added convenience. Enjoy your morning coffee in the screened-in patio and get ready for weekend grills in the backyard, complete with a mature landscape and flagstone flooring. Remember to visit this vibrant community's pool, spa & clubhouse for fun times! This gem won't last!

Key facts

• Spacious cabinets
• Galley-style kitchen
• Community pool

Tags

• GALLEY-STYLE KITCHEN
• SPACIOUS CABINETS
• SCREENED-IN PATIO
• MATURE LANDSCAPE
• COMMUNITY POOL
• COMMUNITY SPA

Property features AI

Finance

• HOA & community: Land lease: $720 per month; No association fees listed; Community pool; Community spa; Community laundry; Fitness center; Transportation services

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2 carport spaces
• Utilities: Private sewer; Private water company
• Home design: Manufactured/mobile home; Leasehold ownership; City view
• Construction: Wood frame construction with painted exterior; Composition roof
• Exterior features: Shed(s); Desert backyard; Gravel/stone front and back; City-maintained road

Interior

• Kitchen: Laminate counters; Dishwasher; Disposal
• Bedrooms: Up to 4 bedrooms
• Flooring: Vinyl; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: High-speed internet; No interior steps; Vaulted ceilings; Full bath in master bedroom; Bath lever faucets; Screened-in patio; Storage
• Laundry & utility: Inside laundry with washer/dryer hookup only

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $112k.

Deal economics

• At list price, monthly cash flow is $854 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 3.5% in Glendale — 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 76/100 on livability (#12 in AZ, #3,235 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: health & safety D+, 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.
• Zoned schools: Glendale High School (math 13% / reading 22%, grade F, #245 of 381 statewide, top 65%, 1,816 students, 76% FRL).
• Market conditions: Rents rising (+1.7%/yr); 172 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 38% of the median local income ($65k/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 $778 of loan paydown is wiped out by about $3k 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 + 1.7% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (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 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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: 1.84% ✓
• Cap rate: 15.40%
• Cash-on-cash: 32.52%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $125,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8401 N 67th Ave #273	0.00mi	3/2.0 (-1)	1,456 (0%)	24mo	$85,000	$58	75
8401 N 67th Ave #91	0.00mi	3/2.0 (-1)	1,344 (-8%)	12mo	$135,000	$100	72
8401 N 67th Ave #83	0.00mi	3/2.0 (-1)	1,536 (+6%)	23mo	$106,650	$69	67
8601 N 71st Ave #89	0.56mi	3/2.0 (-1)	1,456 (0%)	11mo	$145,000	$100	59
6601 W Eva St	0.70mi	4/3.0	1,460 (+0%)	7mo	$240,000	$164	58
8601 N 71st Ave #55	0.56mi	4/2.0	1,440 (-1%)	18mo	$97,000	$67	57
8601 N 71st Ave #17	0.56mi	3/2.0 (-1)	1,474 (+1%)	14mo	$150,000	$102	55
8601 N 71st Ave #128	0.56mi	3/2.0 (-1)	1,440 (-1%)	20mo	$100,000	$69	50
8601 N 71st Ave #56	0.56mi	4/2.0	1,560 (+7%)	20mo	$101,000	$65	45
8595 N 71st Ave #88	0.50mi	3/2.0 (-1)	1,344 (-8%)	18mo	$95,000	$71	44
8601 N 71st Ave #123	0.56mi	4/2.0	1,344 (-8%)	23mo	$115,000	$86	42
6538 W Eva St	0.75mi	3/2.0 (-1)	1,249 (-14%)	12mo	$245,000	$196	27

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 · 1.74% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 2.07×
• Total profit: $33,579
• Equity at exit: $16,774

10-year hold

• IRR: 33.0%
• Equity multiple: 3.83×
• Total profit: $89,025
• Equity at exit: $9,727

Cash invested: $31,500 (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 85302

• Rents YoY: 1.7%
• Active inventory: 172
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$590
• Tax est. 1.5%: −$141 /mo · $1,688/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $854

Break-even live

Break-even rent $984

Max offer price $112,500

Occupancy floor 54%

Sensitivity live

Price	-10% $931	-5% $892	+0% $854	+5% $815	+10% $776
Rent	-10% $690	-5% $772	+0% $854	+5% $935	+10% $1,017
Rate	-1.0pp $910	-0.5pp $882	base $854	+0.5pp $824	+1.0pp $795

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8772 N 67th Ave Glendale, AZ	1.0–3.0	1.0–2.0	937	$2,009	$2.14	1d	24	0.38mi
6619 W Golden Ln Glendale, AZ	4.0	2.0	1768	$1,979	$1.12	10d	1	0.49mi
6619 W Golden Ln Glendale, AZ	4.0	2.0	1768	$2,029	$1.15	2d	1	0.49mi
8938 N 64th Ln Glendale, AZ	3.0	2.0	1256	$2,095	$1.67	1d	1	0.60mi
9022 N 63rd Dr Glendale, AZ	3.0	2.0	1401	$2,195	$1.57	13d	1	0.83mi
6353 W Mission Ln Glendale, AZ	3.0	2.0	1780	$2,200	$1.24	44d	1	0.88mi
8622 N 59th Ave Glendale, AZ	2.0–3.0	2.0	1232	$1,899	$1.54	1d	6	0.91mi
8450 N 59th Ave Glendale, AZ	1.0–3.0	1.0–2.0	919	$2,250	$2.45	5d	1	0.93mi
7733 N 60th Ave Glendale, AZ	3.0	2.0	1430	$2,000	$1.40	1d	1	0.98mi
6002 W Townley Ave Glendale, AZ	3.0	1.5	1026	$1,549	$1.51	1d	1	0.99mi
6421 W Carol Ave Glendale, AZ	3.0	2.0	1243	$1,799	$1.45	19d	1	1.00mi
7102 W Carol Ave Peoria, AZ	3.0	2.0	1288	$1,970	$1.53	5d	1	1.07mi
7321 N 69th Ave Glendale, AZ	4.0	2.5	1645	$1,999	$1.22	1d	1	1.08mi
9459 N 64th Dr Glendale, AZ	3.0	2.0	1531	$2,600	$1.70	15d	1	1.09mi
7027 W Palo Verde Ave Peoria, AZ	3.0	2.0	1500	$1,999	$1.33	44d	1	1.09mi
8713 N 58th Ln Glendale, AZ	3.0	2.0	1373	$1,955	$1.42	1d	1	1.11mi
7631 N 59th Ln Glendale, AZ	3.0	1.0	1750	$1,980	$1.13	1d	1	1.11mi
7332 N 70th Dr Glendale, AZ	3.0	2.0	1262	$1,700	$1.35	1d	1	1.13mi
7102 W Palo Verde Ave Peoria, AZ	3.0	2.0	1360	$2,000	$1.47	44d	1	1.15mi
5763 W Freeway Ln Glendale, AZ	3.0	2.0	1567	$2,000	$1.28	3d	1	1.16mi
9819 N 67th Dr Peoria, AZ	3.0	2.0	1648	$2,500	$1.52	24d	1	1.16mi
7519 N 59th Ln Glendale, AZ	3.0	2.0	1856	$2,099	$1.13	24d	1	1.17mi
8718 N 57th Ln Glendale, AZ	3.0	2.0	1679	$2,135	$1.27	20d	1	1.19mi
8114 N 57th Dr Glendale, AZ	3.0	2.0	1490	$2,600	$1.74	3d	1	1.19mi
10013 N 66th Ln Glendale, AZ	3.0	2.0	1063	$1,999	$1.88	24d	1	1.29mi
7063 W Palmaire Ave Glendale, AZ	3.0	2.0	1300	$1,900	$1.46	1d	1	1.29mi
7009 W Brown St Peoria, AZ	4.0	2.0	1790	$2,195	$1.23	13d	1	1.36mi
9914 N 73rd Ave Peoria, AZ	3.0	1.5	1312	$1,716	$1.31	44d	1	1.42mi
5908 W Myrtle Ave Unit 5908 Glendale, AZ	3.0	2.0	1053	$1,375	$1.31	1d	1	1.42mi
7552 W State Ave Glendale, AZ	3.0	2.0	1875	$2,061	$1.10	24d	1	1.43mi
6819 N 64th Ave Glendale, AZ	3.0	2.0	1568	$1,500	$0.96	20d	1	1.45mi

Listing history 24 events

1. 2026-06-18
   days on market $112,500 Active 153 DOM
2. 2026-06-17
   days on market $112,500 Active 152 DOM
3. 2026-06-16
   days on market $112,500 Active 151 DOM
4. 2026-06-15
   days on market $112,500 Active 150 DOM
5. 2026-06-13
   days on market $112,500 Active 148 DOM
6. 2026-06-13
   days on market $112,500 Active 147 DOM
7. 2026-06-09
   days on market $112,500 Active 144 DOM
8. 2026-06-08
   days on market $112,500 Active 143 DOM
9. 2026-06-07
   days on market $112,500 Active 142 DOM
10. 2026-06-04
    days on market $112,500 Active 139 DOM
11. 2026-06-03
    days on market $112,500 Active 138 DOM
12. 2026-06-02
    days on market $112,500 Active 137 DOM
13. 2026-06-01
    days on market $112,500 Active 136 DOM
14. 2026-05-31
    days on market $112,500 Active 135 DOM
15. 2026-05-19
    price $112,500
16. 2026-04-17
    price $117,500
17. 2026-04-03
    price $119,990
18. 2026-01-16
    listed $122,000 Active
19. 2026-01-16
    historical
20. 2026-01-10
    price $122,000
21. 2025-10-21
    listed $125,000 Active
22. 2025-09-27
    historical
23. 2025-07-15
    price $139,000
24. 2025-04-03
    listed $150,000 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 1/10 Low
• 🌡 Heat 9/10 Extreme 5 d/yr ≥112°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,775
• − Mortgage interest: −$6,302
• − Property taxes: −$1,688
• − Insurance: −$562
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$3,273
• Taxable income: $8,986
• Est. tax owed @ 24.0%: −$2,157
• After-tax cash flow: $8,086/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 — Glendale

• Score: 76/100
• State rank: #12
• US rank: #3235

Category grades

Amenities B Commute A+ Cost of living B Crime F Employment C+ Housing A+ Health & safety D+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 294,586
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 40,612
• Household income: $65,132
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 2090.0

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 0.67)
• Race & ethnicity: White 45% Hispanic / Latino 35% Two or more races 19% Black 9% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 26% Cuban 2%
• Common ancestry: Lithuanian 2% Portuguese 2% Romanian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 71% English-only · Spanish 20% Arabic 2% Vietnamese 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: ▼ -342.03%
• Current HPI: 335.9575
• Rent YoY: ▲ 1.74%
• 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

-25.0% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $112,500 ARMLS
• 2026-04-17 Price Changed $117,500 ARMLS
• 2026-04-03 Price Changed $119,990 ARMLS
• 2026-01-16 Listing Removed — ARMLS
• 2026-01-16 Listed $122,000 ARMLS
• 2026-01-10 Price Changed $122,000 ARMLS
• 2025-10-21 Listed $125,000 ARMLS
• 2025-09-27 Listing Removed — ARMLS
• 2025-07-15 Price Changed $139,000 ARMLS
• 2025-04-03 Listed $150,000 ARMLS