2050 W Dunlap Ave Unit D52 · Phoenix, AZ 85021

$44,500

2 bd · 2.0 ba · 744 sqft · Manufactured · 104 Days on market

Built 1968 Est $42k · 7% over ↓ 53% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.4/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable Resort-Style Living in a Vibrant 55+ Gated Community! This beautifully remodeled 2-bedroom, 2-bath home offers the perfect blend of comfort, style, and low-maintenance living. Inside, you'll find updated flooring, quartz countertops, white shaker cabinetry, and stainless-steel appliances. Enjoy your morning coffee on the inviting front porch, then take advantage of the community's heated pool, spa, fitness center, pickleball courts, clubhouse, library, and year-round social activities. Conveniently located near shopping, dining, medical facilities, I-17, and public transit. Whether you're downsizing, retiring, or seeking the perfect winter retreat, this move-in-ready home deliver

Key facts

• Fully remodeled
• Extended carport
• Front porch

Tags

• FULLY REMODELED
• EXTENDED CARPORT
• FRONT PORCH
• OPEN LAYOUT
• SOLID SURFACE COUNTERS
• WHITE SHAKER CABINETRY

Property features AI

Finance

• HOA & community: Land lease of $985 per month; No association fees included; Community pool; Community spa (heated); Pickleball courts; Tennis courts; Community laundry; Near light rail stop; Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Security: Gated community
• Utilities: City water; Public sewer (connected)
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Steel frame and wood frame construction; Painted exterior
• Exterior features: Gravel/stone front yard; Gravel/stone back yard; Metal roof; No fencing

Interior

• Kitchen: Refrigerator; Dishwasher; Disposal; Non-laminate countertops
• Bedrooms: 2 bedrooms (possible)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fan(s)
• Interior features: High-speed internet; No interior steps; 3/4 bath in master bedroom; Dual-pane windows; Tinted windows

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $44k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $40k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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.
• 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.
• Market conditions: Rents falling (-3.1%/yr); 179 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $308 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; 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: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,495 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.81% ✓
• Cap rate: 24.64%
• Cash-on-cash: 65.51%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $41,664
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2050 W Dunlap Ave Unit C103	0.21mi	2/2.0	720 (-3%)	12mo	$15,000	$21	75
2050 W Dunlap Ave Unit E221	0.21mi	2/1.0	720 (-3%)	15mo	$40,000	$56	68

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: 61.3%
• Equity multiple: 3.61×
• Total profit: $32,467
• Equity at exit: $6,635

10-year hold

• IRR: 64.9%
• Equity multiple: 6.62×
• Total profit: $69,973
• Equity at exit: $3,848

Cash invested: $12,460 (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 85021

• Rents YoY: -3.1%
• Active inventory: 179
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,250 high
• Mortgage (P&I): −$233
• Tax est. 1.5%: −$56 /mo · $668/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $680

Break-even live

Break-even rent $389

Max offer price $44,500

Occupancy floor 41%

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: $11,125
• Closing costs: $1,335
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9202 N 19th Ave Phoenix, AZ	2.0	1.0–2.0	645	$1,550	$2.40	1d	8	0.18mi
2220 W Mission Ln Phoenix, AZ	1.0–3.0	1.0–2.0	944	$1,647	$1.74	1d	67	0.21mi
1814 W Vogel Ave Phoenix, AZ	1.0–2.0	1.0	737	$1,249	$1.69	1d	1	0.36mi
8902 N 19th Ave Phoenix, AZ	1.0–2.0	1.0–2.0	733	$1,265	$1.73	1d	12	0.36mi
1702 W Vogel Ave Unit C5 Phoenix, AZ	2.0	1.0	750	$845	$1.13	14d	1	0.45mi
1703 W Mountain View Rd Phoenix, AZ	1.0	1.0	625	$795	$1.27	1d	1	0.49mi
9633 N 17th Ave Unit 16 Phoenix, AZ	1.0	1.0	650	$1,095	$1.68	1d	1	0.49mi
9633 N 17th Ave Unit 23 Phoenix, AZ	2.0	1.0	735	$1,395	$1.90	13d	1	0.49mi
2323 W Dunlap Ave Phoenix, AZ	1.0–2.0	1.0–2.0	788	$1,370	$1.74	1d	9	0.53mi
1614 W Purdue Ave Unit 202 Phoenix, AZ	2.0	1.0	720	$895	$1.24	1d	1	0.56mi
8603 N 22nd Ave Phoenix, AZ	1.0	1.0	400	$1,214	$3.04	1d	6	0.60mi
2506 W Dunlap Ave Phoenix, AZ	2.0	1.0–2.0	719	$1,480	$2.06	1d	14	0.63mi
8530 N 22nd Ave Unit 1016 Phoenix, AZ	1.0	1.0	632	$1,099	$1.74	23d	1	0.66mi
8530 N 22nd Ave Phoenix, AZ	1.0–2.0	1.0–2.0	814	$1,499	$1.84	10d	55	0.67mi
8530 N 22nd Ave Unit 2041 Phoenix, AZ	1.0	1.0	632	$1,099	$1.74	1d	1	0.68mi
2122 W Butler Dr Phoenix, AZ	2.0	1.0–2.0	637	$1,550	$2.43	1d	12	0.69mi
8530 N 22nd Ave Unit 2057 Phoenix, AZ	1.0	1.0	707	$1,199	$1.70	1d	1	0.70mi
8530 N 22nd Ave Unit 2051 Phoenix, AZ	1.0	1.0	707	$1,199	$1.70	23d	1	0.71mi
1340 W Hatcher Rd Unit A2 Phoenix, AZ	1.0	1.0	400	$815	$2.04	1d	1	0.72mi
1340 W Hatcher Rd Phoenix, AZ	1.0	1.0	400	$815	$2.04	16d	1	0.72mi
8530 N 22nd Ave Unit 2119 Phoenix, AZ	1.0	1.0	632	$1,099	$1.74	17d	1	0.73mi
1321 W Vogel Ave Unit 5 Phoenix, AZ	2.0	1.0	621	$1,050	$1.69	1d	1	0.77mi
2045 W Butler Dr Phoenix, AZ	1.0–3.0	1.0–2.0	738	$1,202	$1.63	1d	14	0.79mi
8330 N 19th Ave Phoenix, AZ	1.0–2.0	1.0–2.0	818	$1,440	$1.76	1d	24	0.82mi
8445 N 23rd Ave Unit 244 Phoenix, AZ	1.0	1.0	606	$1,040	$1.72	17d	1	0.82mi
2121 W Butler Dr Phoenix, AZ	1.0–3.0	1.0–2.5	1025	$2,095	$2.04	1d	33	0.84mi
8445 N 23rd Ave Phoenix, AZ	1.0	1.0	616	$1,045	$1.70	1d	3	0.84mi
1212 W Mountain View Rd Unit 1 Phoenix, AZ	1.0	1.0	580	$999	$1.72	1d	1	0.89mi
1212 W Mountain View Rd Unit 7 Phoenix, AZ	2.0	1.0	700	$1,150	$1.64	1d	1	0.89mi
10231 N 15th Ave Phoenix, AZ	2.0	1.0	625	$1,250	$2.00	13d	1	0.92mi
8222 N 19th Ave Phoenix, AZ	2.0	1.0–2.0	667	$1,410	$2.11	1d	33	0.93mi
10305 N 15th Ave Unit 03 Phoenix, AZ	1.0	1.0	375	$770	$2.05	1d	1	0.97mi
9275 N 29th Ave Phoenix, AZ	1.0–2.0	1.0–2.0	844	$1,994	$2.36	1d	45	0.97mi
9837 N 11th Ave Apt 3 Phoenix, AZ	2.0	1.0	700	$1,275	$1.82	1d	1	1.01mi
1905 W Las Palmaritas Dr Phoenix, AZ	2.0	1.0	535	$1,317	$2.46	1d	23	1.01mi
9647 N 10th Ave Unit 102 Phoenix, AZ	1.0	1.0	350	$700	$2.00	1d	1	1.04mi
10219 N 12th Ave Unit 03 Phoenix, AZ	2.0	1.0	750	$1,250	$1.67	1d	1	1.05mi
726 W Hatcher Rd Unit B-110 Phoenix, AZ	1.0	1.0	640	$1,066	$1.67	1d	1	1.10mi
1408 W Becker Ln Unit 1 Phoenix, AZ	2.0	1.0	700	$1,150	$1.64	10d	1	1.11mi
1627 W Desert Cove Ave Unit 1625 T1 Phoenix, AZ	2.0	1.0	706	$1,295	$1.83	16d	1	1.11mi

Listing history 31 events

1. 2026-06-18
   days on market $44,500 Active 104 DOM
2. 2026-06-17
   days on market $44,500 Active 103 DOM
3. 2026-06-16
   days on market $44,500 Active 102 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   pricedays on market $44,500 Active 101 DOM
6. 2026-06-13
   days on market $45,000 Active 99 DOM
7. 2026-06-09
   days on market $45,000 Active 95 DOM
8. 2026-06-08
   days on market $45,000 Active 94 DOM
9. 2026-06-07
   days on market $45,000 Active 93 DOM
10. 2026-06-04
    days on market $45,000 Active 90 DOM
11. 2026-06-03
    days on market $45,000 Active 89 DOM
12. 2026-06-02
    days on market $45,000 Active 88 DOM
13. 2026-06-01
    days on market $45,000 Active 87 DOM
14. 2026-05-31
    days on market $45,000 Active 86 DOM
15. 2026-04-22
    price $45,000
16. 2026-03-27
    price $49,500
17. 2026-03-17
    price $55,000
18. 2026-03-06
    listed $59,500 Active
19. 2026-02-26
    historical
20. 2025-11-24
    price $60,000
21. 2025-09-23
    listed $69,999 Active
22. 2025-09-14
    historical
23. 2025-08-19
    price $80,000
24. 2025-07-09
    listed $85,000 Active
25. 2025-07-03
    historical
26. 2025-06-18
    price $85,000
27. 2025-06-04
    status Active
28. 2025-06-04
    price $90,000
29. 2025-06-04
    historical
30. 2025-05-02
    price $91,000
31. 2025-03-04
    listed $95,000 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 3/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥112°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,004
• − Mortgage interest: −$2,493
• − Property taxes: −$668
• − Insurance: −$222
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,295
• Taxable income: $7,926
• Est. tax owed @ 24.0%: −$1,902
• After-tax cash flow: $6,260/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 — 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): 39,828
• Household income: $59,768
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 2553.0

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 0.68)
• Race & ethnicity: White 44% Hispanic / Latino 34% Two or more races 21% Black 12% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 27% Cuban 2%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 73% English-only · Spanish 22% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -450.91%
• Current HPI: 328.1754
• Rent YoY: ▼ -3.08%
• 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

-52.6% since first listed

17 events — show timeline

• 2026-04-22 Price Changed $45,000 ARMLS
• 2026-03-27 Price Changed $49,500 ARMLS
• 2026-03-17 Price Changed $55,000 ARMLS
• 2026-03-06 Listed $59,500 ARMLS
• 2026-02-26 Listing Removed — ARMLS
• 2025-11-24 Price Changed $60,000 ARMLS
• 2025-09-23 Listed $69,999 ARMLS
• 2025-09-14 Listing Removed — ARMLS
• 2025-08-19 Price Changed $80,000 ARMLS
• 2025-07-09 Listed $85,000 ARMLS
• 2025-07-03 Listing Removed — ARMLS
• 2025-06-18 Price Changed $85,000 ARMLS
• 2025-06-04 Relisted — ARMLS
• 2025-06-04 Price Changed $90,000 ARMLS
• 2025-06-04 Listing Removed — ARMLS
• 2025-05-02 Price Changed $91,000 ARMLS
• 2025-03-04 Listed $95,000 ARMLS