2292 N Ironwood Dr #105 · Apache Junction, AZ 85120

$45,000

2 bd · 1.5 ba · 896 sqft · Manufactured · 200 Days on market

Manufactured home Built 1989 Good condition $50/sqft · 25% below area Est $60k · 25% under ↓ 8% 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
• Livability +3.3/5.0
• Appreciation +2.5/10.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Manufactured-home adj. -6.2

Listing remarks

Welcome to your new home in the all ages community of Windsong! Enjoy beautiful vinyl plank flooring throughout, a spacious kitchen with ample counter and cabinet space! Take a dip in the community pool during the hot summer months, or head out to a nearby hike!

Key facts

• Nearby hike
• Community pool
• Spacious kitchen

Tags

• VINYL PLANK FLOORING
• SPACIOUS KITCHEN
• COMMUNITY POOL
• NEARBY HIKE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 3.0% 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); Cactus Canyon Junior High (math 14% / reading 19%, grade F, #151 of 218 statewide, top 70%, 702 students, 50% FRL); Apache Junction High School (math 12% / reading 17%, grade F, #267 of 381 statewide, top 72%, 999 students, 48% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents falling (-3.5%/yr); 939 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 48d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 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. 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: 2.62% ✓
• Cap rate: 22.86%
• Cash-on-cash: 59.17%
• DSCR: 3.63
• GRM: 3.2

CMA / ARV

• ARV (median comp): $60,000
• List price: $45,000
• Delta: -25.00%
• 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
2292 N Ironwood Dr #55	0.12mi	2/2.0	960 (+7%)	8mo	$57,000	$59	74
2292 N Ironwood Dr #26	0.12mi	3/2.0 (+1)	960 (+7%)	3mo	$66,000	$69	73
2292 N Ironwood Dr #110	0.11mi	3/2.0 (+1)	960 (+7%)	5mo	$67,000	$70	72
2292 N Ironwood Dr #56	0.11mi	3/2.0 (+1)	960 (+7%)	7mo	$59,000	$61	70
2292 N Ironwood Dr #103	0.00mi	2/2.0	1,008 (+12%)	10mo	$18,000	$18	69
1770 N Valley Dr #19	0.32mi	2/1.0	840 (-6%)	4mo	$45,000	$54	69
2292 N Ironwood Dr #78	0.12mi	3/2.0 (+1)	960 (+7%)	8mo	$60,000	$63	69
2292 N Ironwood Dr #84	0.12mi	2/2.0	1,024 (+14%)	7mo	$25,000	$24	62
1784 N Main Dr	0.38mi	2/1.0	833 (-7%)	9mo	$249,995	$300	61
2292 N Ironwood Dr #34	0.00mi	3/2.0 (+1)	1,024 (+14%)	10mo	$60,000	$59	61
1770 N Valley Dr #41	0.32mi	3/2.0 (+1)	1,024 (+14%)	2mo	$56,000	$55	52
1644 N Desert View Dr N	0.73mi	2/2.0	846 (-6%)	12mo	$271,500	$321	45

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: 54.4%
• Equity multiple: 3.29×
• Total profit: $28,839
• Equity at exit: $6,710

10-year hold

• IRR: 58.4%
• Equity multiple: 5.98×
• Total profit: $62,775
• Equity at exit: $3,891

Cash invested: $12,600 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 6 under contract
• Months of supply: 12.9 mo (8%/mo absorbed)
• Median asking: $45,000 ($52/sqft)
• Median days on market: 91 d
• This list price: 40% of active listings are priced below it
• ARV vs active asking: +28.6% above current asking $/sqft

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

ZIP-level market 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 939
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,180 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $621

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 42%

Sensitivity live

Price	-10% $652	-5% $637	+0% $621	+5% $606	+10% $590
Rent	-10% $528	-5% $575	+0% $621	+5% $668	+10% $715
Rate	-1.0pp $644	-0.5pp $633	base $621	+0.5pp $610	+1.0pp $598

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: $11,250
• Closing costs: $1,350
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2875 W Foothill St Apache Junction, AZ	2.0	2.0	980	$1,600	$1.63	15d	1	0.79mi
853 N Main Dr Apache Junction, AZ	1.0–2.0	1.5–2.0	829	$1,800	$2.17	10d	6	0.91mi
1030 N Delaware Dr Unit 30 Apache Junction, AZ	2.0	1.0	624	$995	$1.59	113d	1	0.95mi
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	145d	1	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	47d	3	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1010	$1,800	$1.78	9d	3	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	65d	4	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	38d	3	1.14mi
925 N Plaza Dr #92 Apache Junction, AZ	2.0	2.0	672	$1,399	$2.08	10d	1	1.19mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	165d	1	1.21mi
925 N Plaza Dr #22 Apache Junction, AZ	1.0	1.0	540	$1,309	$2.42	10d	1	1.22mi
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	161d	1	1.37mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	164d	1	1.37mi
800 W Apache Trl Lot 38 Apache Junction, AZ	2.0	1.0	560	$1,129	$2.02	3d	1	1.48mi
800 W Apache Trl Lot 94 Apache Junction, AZ	1.0	1.0	720	$1,269	$1.76	3d	1	1.48mi
800 W Apache Trl Lot 38 Apache Junction, AZ	2.0	1.0	560	$1,129	$2.02	118d	1	1.48mi

Property features AI

Finance

• HOA & community: No association feesLand lease: $715 monthly

Exterior

• Parking: 1 covered parking space1 open parking space1 carport space
• Utilities: City waterPublic sewer
• Home design: Manufactured / mobile housingLeasehold ownership
• Construction: Wood frame constructionPainted exteriorComposition roof
• Exterior features: Gravel/stone frontGravel/stone backNo fencingCommunity pool

Interior

• Kitchen: Includes refrigeratorEat-in kitchen layout
• Bedrooms: 2 possible bedrooms
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Electric heatingCentral air conditioning
• Interior features: Eat-in kitchenRefrigerator

Listing history 50 events

1. 2026-11-08
   days on market $45,000 Active 200 DOM
2. 2026-11-07
   days on market $45,000 Active 199 DOM
3. 2026-11-06
   days on market $45,000 Active 198 DOM
4. 2026-11-05
   days on market $45,000 Active 197 DOM
5. 2026-11-04
   days on market $45,000 Active 196 DOM
6. 2026-11-02
   days on market $45,000 Active 194 DOM
7. 2026-11-01
   days on market $45,000 Active 193 DOM
8. 2026-10-31
   days on market $45,000 Active 192 DOM
9. 2026-10-30
   days on market $45,000 Active 191 DOM
10. 2026-10-29
    days on market $45,000 Active 190 DOM
11. 2026-10-28
    days on market $45,000 Active 189 DOM
12. 2026-10-27
    days on market $45,000 Active 188 DOM
13. 2026-10-26
    days on market $45,000 Active 187 DOM
14. 2026-10-26
    days on market $45,000 Active 186 DOM
15. 2026-10-24
    days on market $45,000 Active 185 DOM
16. 2026-10-23
    days on market $45,000 Active 184 DOM
17. 2026-10-22
    days on market $45,000 Active 183 DOM
18. 2026-10-21
    days on market $45,000 Active 182 DOM
19. 2026-10-20
    days on market $45,000 Active 181 DOM
20. 2026-10-19
    days on market $45,000 Active 180 DOM
21. 2026-10-18
    days on market $45,000 Active 179 DOM
22. 2026-10-17
    days on market $45,000 Active 178 DOM
23. 2026-10-16
    days on market $45,000 Active 177 DOM
24. 2026-10-15
    days on market $45,000 Active 176 DOM
25. 2026-10-14
    days on market $45,000 Active 175 DOM
26. 2026-10-13
    days on market $45,000 Active 174 DOM
27. 2026-10-12
    days on market $45,000 Active 173 DOM
28. 2026-10-11
    days on market $45,000 Active 172 DOM
29. 2026-10-11
    price $45,000 Active 171 DOM
30. 2026-10-10
    days on market $49,000 Active 171 DOM
31. 2026-10-09
    days on market $49,000 Active 170 DOM
32. 2026-10-08
    days on market $49,000 Active 169 DOM
33. 2026-10-07
    days on market $49,000 Active 168 DOM
34. 2026-10-06
    days on market $49,000 Active 167 DOM
35. 2026-10-05
    days on market $49,000 Active 166 DOM
36. 2026-10-04
    days on market $49,000 Active 165 DOM
37. 2026-10-04
    price $49,000 Active 164 DOM
38. 2026-10-03
    days on market $55,000 Active 164 DOM
39. 2026-10-02
    days on market $55,000 Active 163 DOM
40. 2026-10-01
    days on market $55,000 Active 162 DOM
41. 2026-09-30
    days on market $55,000 Active 161 DOM
42. 2026-09-29
    days on market $55,000 Active 160 DOM
43. 2026-09-28
    days on market $55,000 Active 159 DOM
44. 2026-09-27
    days on market $55,000 Active 158 DOM
45. 2026-09-26
    days on market $55,000 Active 157 DOM
46. 2026-09-25
    days on market $55,000 Active 156 DOM
47. 2026-09-24
    days on market $55,000 Active 155 DOM
48. 2026-09-23
    days on market $55,000 Active 154 DOM
49. 2026-09-22
    days on market $55,000 Active 153 DOM
50. 2026-09-21
    days on market $55,000 Active 152 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 7/10 Severe
• 🌡 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: $14,162
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$1,309
• Taxable income: $7,166
• Est. tax owed @ 24.0%: −$1,720
• After-tax cash flow: $5,736/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 · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $4,480–$13,440 screening

This manufactured home is in good condition with modern updates and a fresh paint job, making it a good investment for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both furniture — improves living space and appeal ↑

ⓘ 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 15/100

Zoned Schools

Elementary Four Peaks Elementary School F AZ #898/1,109 Nat'l #36,758/41,679 Middle Cactus Canyon Junior High F AZ #151/218 Nat'l #12,406/14,009 High Apache Junction High School F AZ #267/381 Nat'l #15,534/17,239

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

C Composite livability gradescore 66/100

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 · 437,574 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: 14% of renters

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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%

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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%
• Languages at home: 89% English-only · Spanish 8% Tagalog/Filipino 1%

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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

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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

Property features AI

Finance

• HOA & community: No association feesLand lease: $715 monthly

Exterior

• Parking: 1 covered parking space1 open parking space1 carport space
• Utilities: City waterPublic sewer
• Home design: Manufactured / mobile housingLeasehold ownership
• Construction: Wood frame constructionPainted exteriorComposition roof
• Exterior features: Gravel/stone frontGravel/stone backNo fencingCommunity pool

Interior

• Kitchen: Includes refrigeratorEat-in kitchen layout
• Bedrooms: 2 possible bedrooms
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Electric heatingCentral air conditioning
• Interior features: Eat-in kitchenRefrigerator

Price history

-7.7% since first listed

11 events — show timeline

• 2026-04-22 Listed $60,000 ARMLS
• 2025-03-09 Rental Removed $1,350 SHOWMOJO
• 2025-02-20 Price Changed $1,350 SHOWMOJO
• 2025-02-12 Listed for Rent $1,400 SHOWMOJO
• 2024-12-17 Listing Removed — ARMLS
• 2024-12-16 Relisted — ARMLS
• 2024-11-22 Rental Removed $1,400 SHOWMOJO
• 2024-11-19 Contingent — ARMLS
• 2024-11-16 Listed for Rent $1,400 SHOWMOJO
• 2024-08-29 Price Changed $54,900 ARMLS
• 2024-06-26 Listed $65,000 ARMLS