200 E Ivanhoe St #69 · Chandler, AZ 85225

$59,500

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 5 Days on market

Built 1983 Fair condition Est $69k · 14% under

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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 +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• Condition / age +2.2/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

GROUND SET * * * 3 BEDROOM 2 BATHROOM 1983 FLAMINGO 24X48 DOUBLEWIDE, UPDATED IN 2021 WITH NEW FLOORING, PAINT INSIDE/OUTSIDE, NEWER WASHER/DRYER INSIDE, MASTER BATHROOM, 2ND BATHROOM READY FOR YOU TO CUSTOMIZE, MINI SPLIT HEATING/COOLING, 1 WINDOW AC UNIT, FENCED YARD/PET FRIENDLY, Can be used as a year-round primary residence or a seasonal ''snowbird'' home, or an investment property to rent. 2 CAR COVERED CARPORT 2 SHEDS. Welcome to Chandler Estates, a quaint ''55 or Better'' community that boasts year-round sunshine, just minutes from downtown Chandler, Arizona. Although surrounded by the hustle and bustle of the city, our community offers the seclusion and quiet of a desert resort, w

Key facts

• Fenced yard
• Investment property
• 3 parking spots

Tags

• FENCED YARD
• MINI SPLIT HEATING COOLING
• YEAR ROUND PRIMARY RESIDENCE
• INVESTMENT PROPERTY
• PROXIMITY TO SHOPPING
• PROXIMITY TO FINE DINING

Property features AI

Finance

• HOA & community: Land lease: $1,200 monthly; No association fees included; Community pool; Community fitness center; Coin-operated laundry; Community media room; Biking/walking paths; Near bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces; 1 open parking space
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership; City and city lights view; Property listed as fixer
• Construction: Wood-frame construction; Painted exterior; Other roof (see remarks)
• Exterior features: Private street access; Private yard; On-site storage; Gravel/stone front yard; Gravel/stone backyard; Private maintained road

Interior

• Kitchen: Pantry; Refrigerator
• Bedrooms: Up to 3 bedrooms
• Flooring: Laminate; Vinyl; Wood; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Mini-split heating and cooling; Natural gas heating; Ceiling fans; Window or wall AC units
• Interior features: High-speed internet; No interior steps; Vaulted ceilings; Pantry; Full bath in primary bedroom; Multiple entry/exit points; Lever door handles; Lever-style bath faucets
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 29.2% vs local median 3.3% in Chandler — 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 78/100 on livability (#9 in AZ, #2,508 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety D, cost of living D-.
• Chandler Unified District #80 (4242) (suburban): math 49% / reading 57% proficiency, ranked #31 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Galveston Elementary School (math 15% / reading 30%, grade F, #679 of 1,109 statewide, top 62%, 461 students, 87% FRL); Willis Junior High School (math 28% / reading 36%, grade F, #73 of 218 statewide, top 35%, 865 students, 55% FRL); Chandler High School (math 25% / reading 32%, grade F, #133 of 381 statewide, top 35%, 3,597 students, 46% FRL) — zoned schools average 63% FRL vs 25% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 53% district-wide (-25 pts) — the specific schools serving this property underperform the Chandler Unified District #80 (4242) average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.7%/yr); 182 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $411 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,500

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 3.29% ✓
• Cap rate: 29.19%
• Cash-on-cash: 81.78%
• DSCR: 4.64
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $69,120
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 E Ivanhoe St #65	0.00mi	2/2.0 (-1)	1,072 (-7%)	8mo	$25,000	$23	77
200 E Knox Rd #104	0.74mi	2/2.0 (-1)	1,200 (+4%)	4mo	$72,250	$60	50

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: 78.6%
• Equity multiple: 4.42×
• Total profit: $56,962
• Equity at exit: $8,872

10-year hold

• IRR: 81.4%
• Equity multiple: 8.24×
• Total profit: $120,662
• Equity at exit: $5,144

Cash invested: $16,660 (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 85225

• Home prices YoY: -28.1%
• Rents YoY: -1.7%
• Active inventory: 182
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$312
• Tax est. 1.5%: −$74 /mo · $892/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $1,135

Break-even live

Break-even rent $520

Max offer price $59,500

Occupancy floor 37%

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 E Ray Rd Chandler, AZ	2.0–3.0	2.0	1031	$1,904	$1.85	1d	9	0.22mi
250 E Ray Rd Chandler, AZ	1.0–3.0	1.0–2.0	1073	$3,948	$3.68	19d	11	0.36mi
250 E Ray Rd Chandler, AZ	2.0	2.0	1156	$2,080	$1.80	5d	1	0.36mi
498 N Arizona Ave Unit 7 Chandler, AZ	2.0	1.0	800	$1,850	$2.31	24d	1	0.39mi
498 N Arizona Ave Unit 7 Chandler, AZ	2.0	1.0	800	$1,900	$2.38	43d	1	0.39mi
250 E Ray Rd Unit 2 Chandler, AZ	2.0	2.0	1138	$1,684	$1.48	43d	1	0.40mi
501 E Ray Rd Lot 181 Chandler, AZ	3.0	2.0	1344	$2,099	$1.56	43d	1	0.42mi
433 W Ray Rd Chandler, AZ	2.0	1.0	770	$1,000	$1.30	43d	1	0.42mi
418 N Colorado St Chandler, AZ	3.0	1.0	967	$1,950	$2.02	12d	1	0.48mi
418 N Colorado St Chandler, AZ	3.0	1.0	964	$1,950	$2.02	24d	1	0.48mi
98 W Orchid Ln Unit 98-03 Chandler, AZ	2.0	1.0	800	$1,025	$1.28	43d	1	0.55mi
337 N Colorado St Unit 100-102 Chandler, AZ	2.0	2.0	900	$2,250	$2.50	43d	1	0.59mi
318 N Washington St Unit A Chandler, AZ	2.0	1.0	800	$1,675	$2.09	43d	1	0.59mi
373 N Nevada St Unit LCAM373-375 Chandler, AZ	2.0	1.0	750	$1,300	$1.73	18d	1	0.60mi
274 N Delaware St Unit B Chandler, AZ	3.0	2.0	1269	$2,450	$1.93	24d	1	0.68mi
699 W Ray Rd #5 Chandler, AZ	2.0	1.0	825	$1,149	$1.39	10d	1	0.70mi
774 E Carla Vista Dr Chandler, AZ	3.0	2.0	1076	$2,010	$1.87	43d	1	0.78mi
760 N Evergreen St Chandler, AZ	3.0	2.0	1219	$2,100	$1.72	12d	1	0.78mi
510 E Kent Ave Chandler, AZ	3.0	2.0	1422	$2,190	$1.54	2d	1	0.83mi
741 E Erie St Unit 1 Chandler, AZ	3.0	1.5	1348	$1,650	$1.22	5d	1	0.83mi
123 N Washington St #12 Chandler, AZ	2.0	2.5	1330	$2,099	$1.58	15d	1	0.84mi
445 W Chandler Blvd Chandler, AZ	1.0–2.0	1.0–2.0	955	$2,341	$2.45	1d	19	0.85mi
124 N California St #33 Chandler, AZ	2.0	2.5	1283	$1,995	$1.55	12d	1	0.87mi
860 N McQueen Rd #1013 Chandler, AZ	3.0	2.0	1261	$1,875	$1.49	5d	1	0.90mi
860 N McQueen Rd Chandler, AZ	3.0	2.5	1242	$1,900	$1.53	24d	1	0.90mi
860 N McQueen Rd #1013 Chandler, AZ	3.0	2.0	1261	$1,795	$1.42	17d	1	0.90mi
860 N McQueen Rd #1159 Chandler, AZ	2.0	2.5	1249	$2,100	$1.68	24d	1	0.90mi
860 N McQueen Rd #1073 Chandler, AZ	2.0	2.5	1122	$1,799	$1.60	12d	1	0.90mi
860 N McQueen Rd #1003 Chandler, AZ	3.0	2.0	1261	$3,300	$2.62	43d	1	0.90mi
859 W Ray Rd Apt 3 Chandler, AZ	2.0	1.0	832	$1,050	$1.26	3d	1	0.97mi
859 W Ray Rd Apt 2 Chandler, AZ	2.0	1.0	832	$1,125	$1.35	18d	1	0.97mi
859 W Ray Rd Apt 3 Chandler, AZ	2.0	1.0	832	$1,225	$1.47	5d	1	0.97mi
859 W Ray Rd Apt 2 Chandler, AZ	2.0	1.0	832	$1,125	$1.35	21d	1	0.97mi
886 W Galveston St #131 Chandler, AZ	2.0	2.0	1272	$1,800	$1.42	24d	1	0.97mi
777 W Chandler Blvd Chandler, AZ	2.0	2.0	835	$1,943	$2.33	43d	1	1.03mi
777 W Chandler Blvd Chandler, AZ	2.0	2.0	1149	$2,034	$1.77	18d	1	1.03mi
777 W Chandler Blvd Chandler, AZ	3.0	2.0	1388	$2,234	$1.61	24d	1	1.03mi
777 W Chandler Blvd Chandler, AZ	2.0	2.0	1026	$2,021	$1.97	15d	1	1.03mi
333 E Commonwealth Ave Chandler, AZ	2.0	1.0–2.0	874	$1,878	$2.15	1d	11	1.05mi
1351 N Pleasant Dr #2092 Chandler, AZ	2.0	2.0	1300	$3,450	$2.65	43d	1	1.06mi

Listing history 5 events

1. 2026-06-18
   days on market $59,500 Active 5 DOM
2. 2026-06-17
   days on market $59,500 Active 4 DOM
3. 2026-06-16
   days on market $59,500 Active 3 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $59,500 Active 2 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,492
• − Mortgage interest: −$3,333
• − Property taxes: −$892
• − Insurance: −$298
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − Depreciation: −$1,731
• Taxable income: $13,479
• Est. tax owed @ 24.0%: −$3,235
• After-tax cash flow: $10,389/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 · 13 photos

Fair 45/100 Cosmetic rehab

The home is in fair condition with cosmetic repairs needed. Painting, new flooring, and landscaping would significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear, but not damaged.
• Minor Bathroom — Small repairs needed on the bathtub and toilet area.
• Minor Exterior siding — Aging appearance, but no major damage.

Value-add opportunities

• Resale Painting the exterior and interior — Fresh paint can significantly improve the home's curb appeal and value.
• Both New flooring — Replacing worn-out carpet with hardwood or tile can enhance both resale and rental value.
• Both Landscaping — Well-maintained landscaping can increase both the home's curb appeal and rental potential.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear, but not damaged.	Minor	$500–3,000
Bathroom · Small repairs needed on the bathtub and toilet area.	Minor	$500–3,000
Exterior siding · Aging appearance, but no major damage.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Painting the exterior and interior — Fresh paint can significantly improve the home's curb appeal and value. ↑
• Both New flooring — Replacing worn-out carpet with hardwood or tile can enhance both resale and rental value. ↑
• Both Landscaping — Well-maintained landscaping can increase both the home's curb appeal and rental potential. ↑

ⓘ 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: Chandler Unified District #80 (4242)
• NCES district ID: 0401870
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $74,048
• Composite: 47.54/100
• National rank: #2268
• State rank: #31 of 249 in AZ

Livability — Chandler

• Score: 78/100
• State rank: #9
• US rank: #2508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chandler, AZ
• County: Maricopa County · 4,537,380 people
• City population: 299,016
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 72,297
• Household income: $88,676
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 2327.0

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 0.65)
• Race & ethnicity: White 48% Hispanic / Latino 34% Two or more races 16% Black 7% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 29% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 16% · Canada, Vietnam, China
• Languages at home: 72% English-only · Spanish 21% Vietnamese 1% Chinese 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: ▼ -128.25%
• Current HPI: 328.8354
• Rent YoY: ▼ -1.66%
• 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

1 event — show timeline

• 2026-06-11 Listed $59,500 ARMLS