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

$98,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 239 Days on market

Manufactured home 55+ age-restricted Built 2000 Good condition $62/sqft · 34% below area Est $149k · 34% under ↓ 13% 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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.0/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.5

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 $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.8% vs local median 3.2% 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: Sunset Canyon School (math 16% / reading 25%, grade F, #729 of 1,109 statewide, top 67%, 366 students, 54% 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 29% FRL track the district average.
• Market conditions: Rents rising (+2.0%/yr); 303 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 60d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent is only 17% 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 $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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 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 239 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: 1.98% ✓
• Cap rate: 16.78%
• Cash-on-cash: 37.45%
• DSCR: 2.67
• GRM: 4.2

CMA / ARV

• ARV (median comp): $148,700
• List price: $98,000
• Delta: -34.10%
• 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
19602 N 32nd St #50	0.18mi	3/2.0	1,597 (+2%)	2mo	$95,000	$59	87
19802 N 32nd St #98	0.10mi	3/2.0	1,614 (+3%)	8mo	$65,000	$40	84
19802 N 32nd St #144	0.10mi	2/2.0 (-1)	1,617 (+3%)	6mo	$80,000	$49	80
19602 N 32nd St #6	0.18mi	4/2.0 (+1)	1,680 (+7%)	1mo	$62,000	$37	74
2923 E Tonto Ln	0.32mi	3/2.0	1,690 (+8%)	0mo	$312,000	$185	72
19802 N 32nd St #156	0.00mi	2/2.0 (-1)	1,344 (-14%)	2mo	$88,000	$65	70
2547 E Tonto Ln	0.67mi	3/2.0	1,606 (+2%)	0mo	$319,900	$199	64
3013 E Beardsley Rd	0.22mi	3/2.0	1,796 (+14%)	5mo	$172,500	$96	62
19802 N 32nd St #76	0.10mi	2/2.0 (-1)	1,344 (-14%)	7mo	$124,900	$93	61
2801 E Wahalla Ln	0.42mi	3/2.0	1,456 (-7%)	9mo	$327,500	$225	61
2938 E Tonto Ln	0.27mi	3/2.0	1,362 (-13%)	8mo	$300,000	$220	59
2701 E Utopia Rd #208	0.61mi	2/2.0 (-1)	1,440 (-8%)	4mo	$85,000	$59	49

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: 32.3%
• Equity multiple: 2.34×
• Total profit: $36,724
• Equity at exit: $14,612

10-year hold

• IRR: 38.8%
• Equity multiple: 4.44×
• Total profit: $94,406
• 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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 7 under contract
• Months of supply: 5.3 mo (19%/mo absorbed)
• Median asking: $118,200 ($77/sqft)
• Median days on market: 101 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +22.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 85050

• Home prices YoY: -21.9%
• Rents YoY: 2.0%
• Active inventory: 303
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $856

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 51%

Sensitivity live

Price	-10% $924	-5% $890	+0% $856	+5% $823	+10% $789
Rent	-10% $703	-5% $780	+0% $856	+5% $933	+10% $1,010
Rate	-1.0pp $906	-0.5pp $881	base $856	+0.5pp $831	+1.0pp $805

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3211 E Behrend Dr Phoenix, AZ	4.0	3.0	2019	$2,599	$1.29	42d	1	0.20mi
3150 E Beardsley Rd #1006 Phoenix, AZ	3.0	2.5	1361	$1,900	$1.40	32d	1	0.22mi
3150 E Beardsley Rd Phoenix, AZ	3.0	2.5	1341	$2,125	$1.58	7d	2	0.24mi
3150 E Beardsley Rd #1041 Phoenix, AZ	3.0	2.5	1322	$2,250	$1.70	4d	1	0.27mi
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,200	$1.50	56d	1	0.29mi
19611 N 33rd St Phoenix, AZ	4.0	3.0	2019	$2,474	$1.23	10d	1	0.30mi
3039 E Hononegh Dr Phoenix, AZ	3.0	2.0	1520	$1,899	$1.25	40d	1	0.30mi
3226 E Sequoia Dr Phoenix, AZ	3.0	2.0	1485	$2,250	$1.52	32d	1	0.32mi
19246 N 31st St Phoenix, AZ	4.0	2.0	1370	$2,375	$1.73	103d	1	0.34mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,180	$1.49	77d	1	0.34mi
3142 E Kristal Way Phoenix, AZ	3.0	2.5	1600	$2,235	$1.40	64d	1	0.36mi
3321 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1564	$2,495	$1.60	82d	1	0.36mi
3321 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1564	$2,495	$1.60	98d	1	0.36mi
3235 E Hononegh Dr Phoenix, AZ	3.0	2.0	1356	$2,100	$1.55	70d	1	0.36mi
3356 E Escuda Rd Phoenix, AZ	3.0	2.0	1655	$2,795	$1.69	19d	1	0.37mi
3206 E Kristal Way Phoenix, AZ	3.0	2.5	1610	$2,275	$1.41	19d	1	0.37mi
3133 E Kristal Way Phoenix, AZ	3.0	2.5	1602	$2,224	$1.39	7d	1	0.38mi
3358 E Wickieup Ln Phoenix, AZ	4.0	2.0	2111	$3,000	$1.42	60d	1	0.42mi
3411 E Escuda Rd Phoenix, AZ	4.0	2.0	1602	$3,200	$2.00	43d	1	0.42mi
3402 E Oraibi Dr Phoenix, AZ	3.0	2.0	1551	$2,400	$1.55	54d	1	0.42mi
3402 E Oraibi Dr Phoenix, AZ	3.0	2.0	1551	$2,400	$1.55	70d	1	0.42mi
3409 E Menadota Dr Phoenix, AZ	4.0	2.0	1602	$2,600	$1.62	19d	1	0.44mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,099	$1.53	82d	1	0.44mi
3220 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,099	$1.53	89d	1	0.44mi
3122 E Topeka Dr Phoenix, AZ	3.0	2.0	1272	$2,100	$1.65	117d	1	0.44mi
19455 N 34th St Phoenix, AZ	3.0	2.0	1551	$1,995	$1.29	32d	1	0.44mi
3415 E Menadota Dr Phoenix, AZ	3.0	2.5	1814	$2,500	$1.38	93d	1	0.45mi
19816 N 34th Pl Phoenix, AZ	3.0	2.0	1187	$2,250	$1.90	75d	1	0.45mi
3236 E Kerry Ln Phoenix, AZ	4.0	2.0	1370	$2,300	$1.68	19d	1	0.46mi
3002 E Jeanette Ct Phoenix, AZ	3.0	2.0	1748	$2,495	$1.43	63d	1	0.46mi
2766 E Rimrock Dr Phoenix, AZ	4.0	2.0	1800	$2,699	$1.50	76d	1	0.47mi
19819 N 34th Pl Phoenix, AZ	3.0	2.0	1602	$2,250	$1.40	63d	1	0.49mi
3259 E Kerry Ln Phoenix, AZ	3.0	2.0	1370	$2,115	$1.54	67d	1	0.50mi
19460 N 27th Pl Phoenix, AZ	4.0	2.0	1596	$3,650	$2.29	4d	1	0.51mi
19460 N 27th Pl Phoenix, AZ	4.0	2.0	1598	$3,500	$2.19	88d	1	0.51mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	108d	1	0.53mi
2636 E Tonto Ln Phoenix, AZ	3.0	2.0	1850	$2,800	$1.51	120d	1	0.53mi
3310 E Clark Rd Phoenix, AZ	2.0	2.0	1228	$1,999	$1.63	6d	1	0.55mi
3049 E Siesta Ln Phoenix, AZ	3.0	2.0	1272	$2,095	$1.65	10d	1	0.56mi
3049 E Siesta Ln Phoenix, AZ	3.0	2.0	1272	$2,095	$1.65	32d	1	0.56mi

Listing history 50 events

1. 2026-09-11
   days on market $98,000 Active 239 DOM
2. 2026-09-05
   days on market $98,000 Active 233 DOM
3. 2026-09-04
   days on market $98,000 Active 232 DOM
4. 2026-09-03
   days on market $98,000 Active 231 DOM
5. 2026-08-31
   days on market $98,000 Active 228 DOM
6. 2026-08-30
   days on market $98,000 Active 227 DOM
7. 2026-08-29
   days on market $98,000 Active 226 DOM
8. 2026-08-28
   days on market $98,000 Active 225 DOM
9. 2026-08-27
   days on market $98,000 Active 224 DOM
10. 2026-08-25
    days on market $98,000 Active 222 DOM
11. 2026-08-24
    days on market $98,000 Active 221 DOM
12. 2026-08-23
    days on market $98,000 Active 220 DOM
13. 2026-08-22
    days on market $98,000 Active 219 DOM
14. 2026-08-21
    days on market $98,000 Active 218 DOM
15. 2026-08-20
    days on market $98,000 Active 217 DOM
16. 2026-08-19
    days on market $98,000 Active 216 DOM
17. 2026-08-18
    days on market $98,000 Active 215 DOM
18. 2026-08-17
    days on market $98,000 Active 214 DOM
19. 2026-08-16
    days on market $98,000 Active 213 DOM
20. 2026-08-15
    days on market $98,000 Active 212 DOM
21. 2026-08-14
    days on market $98,000 Active 211 DOM
22. 2026-08-13
    days on market $98,000 Active 210 DOM
23. 2026-08-12
    days on market $98,000 Active 209 DOM
24. 2026-08-11
    days on market $98,000 Active 208 DOM
25. 2026-08-10
    days on market $98,000 Active 207 DOM
26. 2026-08-09
    days on market $98,000 Active 206 DOM
27. 2026-08-08
    days on market $98,000 Active 205 DOM
28. 2026-08-06
    days on market $98,000 Active 203 DOM
29. 2026-08-05
    days on market $98,000 Active 202 DOM
30. 2026-08-04
    days on market $98,000 Active 201 DOM
31. 2026-08-03
    days on market $98,000 Active 200 DOM
32. 2026-07-31
    days on market $98,000 Active 197 DOM
33. 2026-07-30
    days on market $98,000 Active 196 DOM
34. 2026-07-30
    days on market $98,000 Active 195 DOM
35. 2026-07-28
    days on market $98,000 Active 194 DOM
36. 2026-07-26
    days on market $98,000 Active 192 DOM
37. 2026-07-24
    days on market $98,000 Active 190 DOM
38. 2026-07-23
    days on market $98,000 Active 189 DOM
39. 2026-07-22
    days on market $98,000 Active 188 DOM
40. 2026-07-21
    days on market $98,000 Active 187 DOM
41. 2026-07-20
    days on market $98,000 Active 186 DOM
42. 2026-07-18
    days on market $98,000 Active 184 DOM
43. 2026-07-18
    days on market $98,000 Active 183 DOM
44. 2026-07-16
    days on market $98,000 Active 182 DOM
45. 2026-07-15
    days on market $98,000 Active 181 DOM
46. 2026-07-14
    days on market $98,000 Active 180 DOM
47. 2026-07-13
    days on market $98,000 Active 179 DOM
48. 2026-07-13
    days on market $98,000 Active 178 DOM
49. 2026-07-11
    days on market $98,000 Active 177 DOM
50. 2026-07-10
    days on market $98,000 Active 176 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: $23,297
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$2,851
• Taxable income: $9,269
• Est. tax owed @ 24.0%: −$2,225
• After-tax cash flow: $8,053/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 Est. rehab $7,840–$23,520 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Sunset Canyon School F AZ #729/1,109 Nat'l #33,158/41,679 Middle Mountain Trail Middle School F AZ #57/218 Nat'l #6,830/14,009 High Pinnacle High School D+ AZ #35/381 Nat'l #5,269/17,239

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

B Composite livability gradescore 75/100

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 · 4,979,203 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: 17% of renters

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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%

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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%

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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

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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