19802 N 32nd St #169 · Phoenix, AZ 85050

$98,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 154 Days on market

Built 2000 Good condition $62/sqft · 35% below area Est $150k · 35% under ↓ 13% 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 +15.0/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained Cavco home, built in 2000, offers 1,568 sq ft of comfortable living. Bright, open floor plan with separate dining area and a large eat-in kitchen featuring a breakfast bar, stainless steel appliances, sink, quartz counters, and updated cabinets. Split 3-bed, 2-bath layout. Spacious primary suite includes a walk-in closet and separate tub and shower. Recent improvements include new carpet on deck, newer hot water tank, flooring, refrigerator, and kitchen upgrades. Energy-efficient dual-pane windows, programmable thermostat, and garbage disposal. Exterior highlights include two large storage sheds, fenced yard ideal for pets, and a corner lot. Located in a gated 55+ community with pool, clubhouse, and pet park. Buyer must be park approved prior to submitting an offer.

Key facts

• Open floor plan
• Quartz counters
• Large eat-in kitchen

Tags

• OPEN FLOOR PLAN
• LARGE EAT-IN KITCHEN
• BREAKFAST BAR
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERS
• UPDATED CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $98k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.3% 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 (+2.0%/yr); 218 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); high-income renter base; 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 $678 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 + 2.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

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 $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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: 2.67% ✓
• Cap rate: 23.30%
• Cash-on-cash: 60.74%
• DSCR: 3.70
• GRM: 3.1

CMA / ARV

• ARV (median comp): $150,256
• List price: $98,000
• Delta: -27.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19802 N 32nd St #98	0.10mi	3/2.0	1,614 (+3%)	5mo	$65,000	$40	87
19802 N 32nd St #144	0.10mi	2/2.0 (-1)	1,617 (+3%)	3mo	$80,000	$49	83
19602 N 32nd St #35	0.18mi	3/2.0	1,586 (+1%)	9mo	$105,000	$66	82
2956 E Sequoia Dr	0.26mi	3/2.0	1,680 (+7%)	10mo	$260,000	$155	68
19602 N 32nd St #44	0.18mi	2/2.0 (-1)	1,689 (+8%)	11mo	$133,000	$79	64
3013 E Beardsley Rd	0.22mi	3/2.0	1,796 (+14%)	1mo	$172,500	$96	64
2801 E Wahalla Ln	0.42mi	3/2.0	1,456 (-7%)	5mo	$327,500	$225	64
19802 N 32nd St #36	0.10mi	2/2.0 (-1)	1,736 (+11%)	10mo	$125,000	$72	64
19802 N 32nd St #76	0.10mi	2/2.0 (-1)	1,344 (-14%)	4mo	$124,900	$93	64
2938 E Tonto Ln	0.27mi	3/2.0	1,362 (-13%)	4mo	$300,000	$220	62
2701 E Utopia Rd #208	0.61mi	2/2.0 (-1)	1,440 (-8%)	1mo	$85,000	$59	52
2610 E Tonto Ln	0.62mi	3/2.0	1,344 (-14%)	6mo	$250,000	$186	42

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: 58.4%
• Equity multiple: 3.55×
• Total profit: $69,968
• Equity at exit: $14,612

10-year hold

• IRR: 62.8%
• Equity multiple: 6.99×
• Total profit: $164,319
• Equity at exit: $8,473

Cash invested: $27,440 (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: 3.1×

Monthly cashflow live

• Estimated rent: $2,616 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $1,389

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 42%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,300	$1.57	1d	1	0.29mi
3039 E Hononegh Dr Phoenix, AZ	3.0	2.0	1520	$2,075	$1.37	15d	1	0.30mi
19246 N 31st St Phoenix, AZ	4.0	2.0	1370	$2,375	$1.73	7d	1	0.34mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	2d	1	0.34mi
3321 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1564	$2,495	$1.60	3d	1	0.36mi
3133 E Kristal Way Phoenix, AZ	3.0	2.5	1602	$2,600	$1.62	2d	1	0.38mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	24d	1	0.44mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,299	$1.68	15d	1	0.44mi
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	22d	1	0.44mi
3415 E Menadota Dr Phoenix, AZ	3.0	2.5	1814	$2,550	$1.41	15d	1	0.45mi
3002 E Jeanette Ct Phoenix, AZ	3.0	2.0	1748	$2,700	$1.54	18d	1	0.46mi
19460 N 27th Pl Phoenix, AZ	4.0	2.0	1598	$3,300	$2.07	43d	1	0.51mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	12d	1	0.53mi
2636 E Tonto Ln Phoenix, AZ	3.0	2.0	1850	$2,800	$1.51	24d	1	0.53mi
19654 N 36th St Phoenix, AZ	3.0	2.0	1638	$2,600	$1.59	18d	1	0.60mi
3214 E Siesta Ln Phoenix, AZ	2.0	2.0	1228	$2,200	$1.79	24d	1	0.61mi
3301 E Wescott Dr Phoenix, AZ	3.0	2.0	1101	$1,995	$1.81	24d	1	0.67mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$2,390	$2.60	2d	16	0.74mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,933	$1.93	2d	22	0.75mi
18626 N 29th Pl Phoenix, AZ	4.0	2.0	1600	$2,995	$1.87	7d	1	0.78mi
3708 E Kerry Ln Phoenix, AZ	3.0	2.5	1819	$3,100	$1.70	24d	1	0.87mi
18617 N 35th St Phoenix, AZ	3.0	2.5	1425	$2,400	$1.68	11d	1	0.91mi
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,770	$1.95	1d	10	0.92mi
3745 E Kerry Ln Phoenix, AZ	3.0	2.5	1818	$2,250	$1.24	18d	1	0.93mi
2336 E Utopia Rd Phoenix, AZ	2.0–3.0	2.5	1327	$2,395	$1.80	5d	1	0.94mi
3771 E Kristal Way Phoenix, AZ	4.0	2.5	1821	$2,995	$1.64	24d	1	0.94mi
2335 E Utopia Rd Unit 16 Phoenix, AZ	3.0	2.5	1426	$2,550	$1.79	18d	1	0.95mi
3626 E Potter Dr Phoenix, AZ	3.0	2.0	1519	$2,500	$1.65	24d	1	0.95mi
3706 E Potter Dr Phoenix, AZ	4.0	2.0	1782	$2,550	$1.43	22d	1	0.95mi
3706 E Potter Dr Phoenix, AZ	4.0	2.0	1782	$2,550	$1.43	24d	1	0.95mi
20729 N 37th Way Phoenix, AZ	3.0	2.0	1670	$3,000	$1.80	15d	1	0.98mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,964	$2.30	3d	62	1.06mi
20660 N 40th St #2137 Phoenix, AZ	2.0	2.0	1131	$3,500	$3.09	43d	1	1.10mi
2755 E Michigan Ave Phoenix, AZ	3.0	2.0	1316	$2,700	$2.05	17d	1	1.13mi
20660 N 40th St Phoenix, AZ	2.0–3.0	2.0	1325	$3,500	$2.64	18d	4	1.15mi
20053 N 21st Pl Phoenix, AZ	4.0	2.0	1754	$3,300	$1.88	24d	1	1.15mi
2239 E Morrow Dr Phoenix, AZ	3.0	3.0	1545	$2,199	$1.42	3d	1	1.16mi
3906 E Kimberly Way Phoenix, AZ	4.0	2.5	1924	$2,850	$1.48	5d	1	1.17mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,955	$2.03	2d	11	1.18mi
3902 E Rosemonte Dr Phoenix, AZ	3.0	2.5	1924	$8,500	$4.42	24d	1	1.20mi

Listing history 19 events

1. 2026-06-18
   days on market $98,000 Active 154 DOM
2. 2026-06-17
   pricedays on market $98,000 Active 153 DOM
3. 2026-06-16
   days on market $109,000 Active 152 DOM
4. 2026-06-15
   days on market $109,000 Active 151 DOM
5. 2026-06-13
   days on market $109,000 Active 149 DOM
6. 2026-06-13
   days on market $109,000 Active 148 DOM
7. 2026-06-09
   days on market $109,000 Active 145 DOM
8. 2026-06-08
   days on market $109,000 Active 144 DOM
9. 2026-06-07
   days on market $109,000 Active 143 DOM
10. 2026-06-04
    days on market $109,000 Active 140 DOM
11. 2026-06-03
    days on market $109,000 Active 139 DOM
12. 2026-06-02
    days on market $109,000 Active 138 DOM
13. 2026-06-01
    days on market $109,000 Active 137 DOM
14. 2026-05-31
    days on market $109,000 Active 136 DOM
15. 2026-04-22
    price $109,000 797-char remark

    Show marketing remark (797 chars)

    This well-maintained Cavco home, built in 2000, offers 1,568 sq ft of comfortable living. Bright, open floor plan with separate dining area and a large eat-in kitchen featuring a breakfast bar, stainless steel appliances, sink, quartz counters, and updated cabinets. Split 3-bed, 2-bath layout. Spacious primary suite includes a walk-in closet and separate tub and shower. Recent improvements include new carpet on deck, newer hot water tank, flooring, refrigerator, and kitchen upgrades. Energy-efficient dual-pane windows, programmable thermostat, and garbage disposal. Exterior highlights include two large storage sheds, fenced yard ideal for pets, and a corner lot. Located in a gated 55+ community with pool, clubhouse, and pet park. Buyer must be park approved prior to submitting an offer.

16. 2026-03-29
    price $115,000 797-char remark

    Show marketing remark (797 chars)

    This well-maintained Cavco home, built in 2000, offers 1,568 sq ft of comfortable living. Bright, open floor plan with separate dining area and a large eat-in kitchen featuring a breakfast bar, stainless steel appliances, sink, quartz counters, and updated cabinets. Split 3-bed, 2-bath layout. Spacious primary suite includes a walk-in closet and separate tub and shower. Recent improvements include new carpet on deck, newer hot water tank, flooring, refrigerator, and kitchen upgrades. Energy-efficient dual-pane windows, programmable thermostat, and garbage disposal. Exterior highlights include two large storage sheds, fenced yard ideal for pets, and a corner lot. Located in a gated 55+ community with pool, clubhouse, and pet park. Buyer must be park approved prior to submitting an offer.

17. 2026-02-23
    price $121,000 797-char remark

    Show marketing remark (797 chars)

    This well-maintained Cavco home, built in 2000, offers 1,568 sq ft of comfortable living. Bright, open floor plan with separate dining area and a large eat-in kitchen featuring a breakfast bar, stainless steel appliances, sink, quartz counters, and updated cabinets. Split 3-bed, 2-bath layout. Spacious primary suite includes a walk-in closet and separate tub and shower. Recent improvements include new carpet on deck, newer hot water tank, flooring, refrigerator, and kitchen upgrades. Energy-efficient dual-pane windows, programmable thermostat, and garbage disposal. Exterior highlights include two large storage sheds, fenced yard ideal for pets, and a corner lot. Located in a gated 55+ community with pool, clubhouse, and pet park. Buyer must be park approved prior to submitting an offer.

18. 2026-02-04
    price $123,000 797-char remark

    Show marketing remark (797 chars)

    This well-maintained Cavco home, built in 2000, offers 1,568 sq ft of comfortable living. Bright, open floor plan with separate dining area and a large eat-in kitchen featuring a breakfast bar, stainless steel appliances, sink, quartz counters, and updated cabinets. Split 3-bed, 2-bath layout. Spacious primary suite includes a walk-in closet and separate tub and shower. Recent improvements include new carpet on deck, newer hot water tank, flooring, refrigerator, and kitchen upgrades. Energy-efficient dual-pane windows, programmable thermostat, and garbage disposal. Exterior highlights include two large storage sheds, fenced yard ideal for pets, and a corner lot. Located in a gated 55+ community with pool, clubhouse, and pet park. Buyer must be park approved prior to submitting an offer.

19. 2026-01-15
    listed $124,900 Active 797-char remark

    Show marketing remark (797 chars)

    This well-maintained Cavco home, built in 2000, offers 1,568 sq ft of comfortable living. Bright, open floor plan with separate dining area and a large eat-in kitchen featuring a breakfast bar, stainless steel appliances, sink, quartz counters, and updated cabinets. Split 3-bed, 2-bath layout. Spacious primary suite includes a walk-in closet and separate tub and shower. Recent improvements include new carpet on deck, newer hot water tank, flooring, refrigerator, and kitchen upgrades. Energy-efficient dual-pane windows, programmable thermostat, and garbage disposal. Exterior highlights include two large storage sheds, fenced yard ideal for pets, and a corner lot. Located in a gated 55+ community with pool, clubhouse, and pet park. Buyer must be park approved prior to submitting an offer.

ⓘ 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: $31,386
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$2,511
• − Management: −$2,511
• − Depreciation: −$2,851
• Taxable income: $16,064
• Est. tax owed @ 24.0%: −$3,855
• After-tax cash flow: $12,813/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 well-maintained 2000 Cavco home offers a good condition with updated features and a good curb appeal. It is ready for a new owner to move in.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and value
• Both Replace ceiling fans — Ceiling fans can improve air circulation and comfort
• Both Install smart thermostat — Smart thermostat can improve energy efficiency and comfort

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint can enhance curb appeal and value ↑
• Both Replace ceiling fans — Ceiling fans can improve air circulation and comfort ↑
• Both Install smart thermostat — Smart thermostat can improve energy efficiency and comfort ↑

ⓘ 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

-12.7% since first listed

5 events — show timeline

• 2026-04-22 Price Changed $109,000 ARMLS
• 2026-03-29 Price Changed $115,000 ARMLS
• 2026-02-23 Price Changed $121,000 ARMLS
• 2026-02-04 Price Changed $123,000 ARMLS
• 2026-01-15 Listed $124,900 ARMLS