200 E Ivanhoe St #69

Chandler, AZ 85225

$59,500B+

3 bd · 2.0 ba · 1,152 sqft · Built 1983 · Manufactured · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,958/mo
• Mortgage (P&I): −$312
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$411
• Net cashflow: $1,135/mo
• Annual: $13,624/yr
• Cap rate: 29.19%
• Cash-on-cash: 81.78%
• DSCR: 4.64
• 1% rule: 3.29%
• Cash to close: $16,660

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.
• 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).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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).
• 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.
• 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.
• 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• 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.