2200 N Delaware Dr #6 · Apache Junction, AZ 85120

$129,999

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 115 Days on market

Built 1999 4,559 sqft lot Est $139k · 7% under ↓ 13% 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 +10.5/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

Key facts

• 4,559 sq ft lot
• 4 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Land lease: $630 monthly; No association fees included

Exterior

• Parking: 2 covered parking spaces; 2 open parking spaces; 2 carport spaces
• Utilities: City water; Public sewer
• Home design: Manufactured/Mobile home; Leasehold ownership
• Construction: Wood siding and wood frame construction; Painted exterior; Composition and metal roof; Building area reported by owner
• Exterior features: Gravel/stone front yard; Gravel/stone backyard; Community pool; Community playground

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Full bathroom in primary bedroom; Refrigerator included
• Laundry & utility: Indoor laundry with washer/dryer hookup only

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 3.5% 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); 468 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• This rent runs 39% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) 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 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,299 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.45% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.45%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $139,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2685 W Foothill St	0.28mi	3/2.0	1,378 (+2%)	0mo	$305,000	$221	84
2200 N Delaware Dr #30	0.00mi	3/2.0	1,232 (-9%)	10mo	$120,000	$97	77
2200 N Delaware Dr #12	0.00mi	4/2.0 (+1)	1,456 (+8%)	7mo	$149,900	$103	76
2378 N Desert View Dr	0.12mi	3/1.5	1,456 (+8%)	7mo	$430,000	$295	74
2292 N Ironwood Dr #129	0.52mi	3/2.0	1,344 (-1%)	9mo	$83,000	$62	67
2292 N Ironwood Dr #128	0.40mi	3/2.0	1,232 (-9%)	3mo	$84,000	$68	64
2292 N Ironwood Dr #08	0.40mi	3/2.0	1,200 (-11%)	5mo	$79,000	$66	59
2292 N Ironwood Dr #127	0.52mi	2/2.0 (-1)	1,232 (-9%)	3mo	$70,300	$57	54
2975 W Manzanita St	0.75mi	3/2.0	1,248 (-8%)	0mo	$325,000	$260	52
1479 N Delaware Dr	0.55mi	2/2.0 (-1)	1,248 (-8%)	8mo	$311,000	$249	50
2158 N Gold Dr	0.65mi	2/2.0 (-1)	1,248 (-8%)	9mo	$286,000	$229	44
2625 W Manzanita St	0.68mi	3/2.0	1,537 (+14%)	3mo	$104,000	$68	43

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: 8.0%
• Equity multiple: 1.30×
• Total profit: $11,026
• Equity at exit: $19,383

10-year hold

• IRR: 14.5%
• Equity multiple: 2.01×
• Total profit: $36,774
• Equity at exit: $11,240

Cash invested: $36,400 (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 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 468
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $590

Break-even live

Break-even rent $1,137

Max offer price $129,999

Occupancy floor 64%

Sensitivity live

Price	-10% $680	-5% $635	+0% $590	+5% $545	+10% $500
Rent	-10% $441	-5% $516	+0% $590	+5% $665	+10% $739
Rate	-1.0pp $656	-0.5pp $623	base $590	+0.5pp $556	+1.0pp $522

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2292 N Ironwood Dr Apache Junction, AZ	2.0	2.0	1152	$1,475	$1.28	25d	1	0.43mi
1877 W Overland St Apache Junction, AZ	3.0	2.0	1420	$1,999	$1.41	17d	1	0.85mi
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	5d	1	1.09mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	25d	1	1.12mi
651 N Ironwood Dr Apache Junction, AZ	3.0	2.5	1748	$2,408	$1.38	6d	13	1.21mi

Listing history 29 events

1. 2026-06-21
   days on market $129,999 Active 115 DOM
2. 2026-06-18
   days on market $129,999 Active 112 DOM
3. 2026-06-17
   days on market $129,999 Active 111 DOM
4. 2026-06-16
   days on market $129,999 Active 110 DOM
5. 2026-06-15
   days on market $129,999 Active 109 DOM
6. 2026-06-13
   days on market $129,999 Active 107 DOM
7. 2026-06-09
   days on market $129,999 Active 103 DOM
8. 2026-06-08
   days on market $129,999 Active 102 DOM
9. 2026-06-07
   days on market $129,999 Active 101 DOM
10. 2026-06-04
    days on market $129,999 Active 98 DOM
11. 2026-06-03
    days on market $129,999 Active 97 DOM
12. 2026-06-02
    days on market $129,999 Active 96 DOM
13. 2026-06-01
    days on market $129,999 Active 95 DOM
14. 2026-05-31
    days on market $129,999 Active 94 DOM
15. 2026-05-06
    price $129,999
16. 2026-04-20
    price $140,000
17. 2026-03-22
    price $145,000
18. 2026-02-24
    listed $149,900 Active
19. 2023-08-23
    soldstatus $135,000 Closed 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

20. 2023-07-08
    status Pending 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

21. 2023-06-16
    status Active 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

22. 2023-03-15
    price $139,500 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

23. 2022-12-28
    status Active 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

24. 2022-12-16
    historical 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

25. 2022-12-12
    status Active 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

26. 2022-12-10
    status Pending 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

27. 2022-12-10
    historical 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

28. 2022-10-22
    price $145,000 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

29. 2022-09-17
    listed $150,000 Active 475-char remark

    Show marketing remark (475 chars)

    Well care beautiful 3 bedrooms, two baths, located in Boardwalk Estates. ***NO AGE RESTRICTIONS*** Enjoy and relax sitting on the side porch, this home is a manufactured home is located on leased land. Lot rent $540.00 per month plus utilities and taxes. no land will convey in the sale of the home. All resident 18+ must qualify with the park after accepted contract. The storage shed in not included on the sale of the property. THERE ARE SMALLL DOG AND CAT IN THE HOUSE.

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 18 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: $22,610
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$3,782
• Taxable income: $5,329
• Est. tax owed @ 24.0%: −$1,279
• After-tax cash flow: $5,802/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: 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

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 · 399,947 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: 686.0

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%

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%
• Common ancestry: Romanian 3% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Tagalog/Filipino 1%

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

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

-13.3% since first listed

15 events — show timeline

• 2026-05-06 Price Changed $129,999 ARMLS
• 2026-04-20 Price Changed $140,000 ARMLS
• 2026-03-22 Price Changed $145,000 ARMLS
• 2026-02-24 Listed $149,900 ARMLS
• 2023-08-23 Sold (MLS) $135,000 ARMLS
• 2023-07-08 Pending — ARMLS
• 2023-06-16 Relisted — ARMLS
• 2023-03-15 Price Changed $139,500 ARMLS
• 2022-12-28 Relisted — ARMLS
• 2022-12-16 Listing Removed — ARMLS
• 2022-12-12 Relisted — ARMLS
• 2022-12-10 Pending — ARMLS
• 2022-12-10 Listing Removed — ARMLS
• 2022-10-22 Price Changed $145,000 ARMLS
• 2022-09-17 Listed $150,000 ARMLS