2233 E Behrend Dr #169 · Phoenix, AZ 85024

$185,000

3 bd · 2.0 ba · 1,648 sqft · Manufactured · 25 Days on market

Built 2015 Good condition Est $147k · 26% over

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2015 Champion Home, 1,624 sq. ft. , nestled beside natural boulders with a large screened-in patio and mountain views. Open great room with oversized island, upgraded cabinets with tall uppers, crown molding, and deep drawers. 3 bed, 2 bath with spacious layout. Primary suite features tray ceiling; third bedroom (ideal office/den) has private slider to porch. Side-by-side covered parking. Upgrades include new flooring, skylight tubes, plantation shutters, Toto toilet/bidet, replaced interior A/C system, whole-house water filtration, new water heater, and new microwave. Dining room light conveys. Short walk to pool and clubhouse. Buyer must be park approved: 750+ credit score, 3x l

Key facts

• 2 parking spots
• Community pool
• Built 2015

Property features AI

Finance

• Other: Building area reported by builder
• HOA & community: Land lease (approx. $1,010 monthly); Association covers grounds maintenance, street maintenance, and trash; Community amenities include pool, heated spa, pickleball courts, tennis courts, fitness center, and proximity to bus stop

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Security: Gated community
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership; Mountain views
• Construction: Wood frame construction; Painted exterior; Composition roof
• Exterior features: Storage; Desert front and back landscaping; Gravel/stone in back yard; Automatic timer irrigation in front

Interior

• Kitchen: Built-in microwave; Laminate counters; Refrigerator; Dishwasher; Garbage disposal; Water purifier
• Bedrooms: Up to 4 possible bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fans; Programmable thermostat
• Interior features: High-speed internet available; Double vanities; Breakfast bar; No interior steps; Vaulted ceilings; Kitchen island; Pantry; Full bathroom in primary bedroom suite; Skylights; Dual-pane windows
• Laundry & utility: Laundry inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% 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.
• Paradise Valley Unified District (4241) (urban): math 39% / reading 46% proficiency, ranked #56 of 249 in AZ (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 201 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $6k 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 + 1.4% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.38% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.21%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $146,672
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2233 E Behrend Dr #48	0.00mi	2/2.0 (-1)	1,568 (-5%)	1mo	$70,000	$45	86
2233 E Behrend Dr #250	0.00mi	3/2.0	1,736 (+5%)	6mo	$149,500	$86	86
2233 E Behrend Dr #34	0.15mi	2/2.0 (-1)	1,680 (+2%)	1mo	$28,000	$17	84
2233 E Behrend Dr #203	0.14mi	4/2.0 (+1)	1,680 (+2%)	5mo	$170,000	$101	81
2233 E Behrend Dr #26	0.00mi	3/2.0	1,456 (-12%)	5mo	$125,000	$86	76
2233 E Behrend Dr #222	0.00mi	3/2.0	1,806 (+10%)	9mo	$170,000	$94	76
2233 E Behrend Dr #17	0.18mi	3/2.0	1,512 (-8%)	6mo	$135,000	$89	73
2233 E Behrend Dr #197	0.09mi	2/2.0 (-1)	1,456 (-12%)	7mo	$145,000	$100	65
2233 E Behrend Dr #76	0.14mi	3/2.0	1,456 (-12%)	14mo	$66,000	$45	62
2431 E Tonto Ln	0.39mi	3/2.0	1,792 (+9%)	8mo	$330,000	$184	61
2120 E Bluefield Ave #123	0.67mi	4/2.0 (+1)	1,664 (+1%)	12mo	$135,000	$81	52
2120 E Bluefield Ave #127	0.67mi	4/2.0 (+1)	1,458 (-12%)	13mo	$129,850	$89	34

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 · 1.44% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $13,430
• Equity at exit: $27,584

10-year hold

• IRR: 14.7%
• Equity multiple: 2.10×
• Total profit: $57,061
• Equity at exit: $15,995

Cash invested: $51,800 (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 85024

• Home prices YoY: -21.0%
• Rents YoY: 1.4%
• Active inventory: 201
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,559 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $743

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 66%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2104 E Behrend Dr Phoenix, AZ	4.0	2.5	2070	$2,975	$1.44	2d	1	0.15mi
2030 E Wahalla Ln Phoenix, AZ	3.0	2.0	1400	$2,115	$1.51	2d	1	0.25mi
2336 E Utopia Rd Phoenix, AZ	2.0–3.0	2.5	1327	$2,395	$1.80	5d	1	0.27mi
2335 E Utopia Rd Unit 16 Phoenix, AZ	3.0	2.5	1426	$2,550	$1.79	18d	1	0.28mi
20007 N 20th Way Phoenix, AZ	3.0	2.0	1251	$3,900	$3.12	43d	1	0.28mi
20053 N 21st Pl Phoenix, AZ	4.0	2.0	1754	$3,300	$1.88	24d	1	0.35mi
20050 N Cave Creek Rd Phoenix, AZ	1.0–2.0	1.0–2.0	909	$1,770	$1.95	1d	10	0.37mi
19635 N Cave Creek Rd Phoenix, AZ	3.0	1.0–2.0	999	$1,933	$1.93	1d	22	0.43mi
2220 E Beardsley Rd Phoenix, AZ	4.0	1.0–2.0	855	$1,964	$2.30	2d	62	0.46mi
2500 E Marco Polo Rd Phoenix, AZ	2.0	1.0–2.0	918	$2,390	$2.60	2d	16	0.48mi
2239 E Morrow Dr Phoenix, AZ	3.0	3.0	1545	$2,199	$1.42	2d	1	0.49mi
18611 N 22nd St Phoenix, AZ	3.0	3.0	1851	$2,200	$1.19	12d	1	0.54mi
18611 N 22nd St #72 Phoenix, AZ	3.0	2.5	1851	$2,200	$1.19	14d	1	0.55mi
18660 N Cave Creek Rd Phoenix, AZ	1.0–3.0	1.0–2.0	961	$1,955	$2.03	1d	11	0.58mi
20445 N 21st St Phoenix, AZ	3.0	2.5	2240	$2,800	$1.25	2d	1	0.62mi
2636 E Tonto Ln Phoenix, AZ	3.0	2.0	1850	$2,800	$1.51	24d	1	0.64mi
2221 E Union Hills Dr #158 Phoenix, AZ	3.0	2.0	1332	$2,100	$1.58	18d	1	0.71mi
20415 N 17th Pl Phoenix, AZ	4.0	3.0	2248	$2,950	$1.31	7d	1	0.71mi
19460 N 27th Pl Phoenix, AZ	4.0	2.0	1598	$3,300	$2.07	43d	1	0.71mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1169	$4,000	$3.42	3d	3	0.80mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1245	$4,000	$3.21	21d	4	0.80mi
1510 E Taro Ln Phoenix, AZ	3.0	2.0	1136	$2,149	$1.89	24d	1	0.82mi
1717 E Union Hills Dr #1052 Phoenix, AZ	2.0	2.0	1160	$4,000	$3.45	43d	1	0.85mi
1506 E Wescott Dr Phoenix, AZ	3.0	2.0	1136	$2,045	$1.80	5d	1	0.85mi
1420 E Topeka Dr Phoenix, AZ	3.0	2.5	1464	$2,215	$1.51	7d	1	0.94mi
18633 N 15th St Phoenix, AZ	3.0	2.0	1240	$2,249	$1.81	7d	1	0.95mi
1440 E Renee Dr Phoenix, AZ	3.0	2.0	1632	$2,200	$1.35	24d	1	1.01mi
2934 E Blackhawk Dr Phoenix, AZ	3.0	2.0	1467	$2,280	$1.55	1d	1	1.07mi
3002 E Jeanette Ct Phoenix, AZ	3.0	2.0	1748	$2,700	$1.54	17d	1	1.08mi
2554 E Villa Rita Dr Phoenix, AZ	2.0	1.0	1118	$2,750	$2.46	24d	1	1.09mi
1702 E Michelle Dr Phoenix, AZ	2.0	2.0	1300	$2,200	$1.69	4d	1	1.10mi
18626 N 29th Pl Phoenix, AZ	4.0	2.0	1600	$2,995	$1.87	7d	1	1.10mi
20223 N 30th St Phoenix, AZ	3.0	2.0	1467	$2,300	$1.57	1d	1	1.13mi
2755 E Michigan Ave Phoenix, AZ	3.0	2.0	1316	$2,700	$2.05	17d	1	1.15mi
2602 E Charleston Ave Phoenix, AZ	3.0	2.0	1426	$2,100	$1.47	24d	1	1.16mi
19246 N 31st St Phoenix, AZ	4.0	2.0	1370	$2,375	$1.73	7d	1	1.18mi
17833 N 26th St Phoenix, AZ	4.0	2.0	1220	$2,397	$1.96	1d	1	1.18mi
3039 E Hononegh Dr Phoenix, AZ	3.0	2.0	1520	$2,075	$1.37	14d	1	1.22mi
3056 E Siesta Ln Phoenix, AZ	3.0	2.0	1476	$2,375	$1.61	12d	1	1.22mi
2719 E Charleston Ave Phoenix, AZ	3.0	1.5	1670	$1,891	$1.13	21d	1	1.24mi

Listing history 3 events

1. 2026-05-10
   status Pending
2. 2026-04-30
   historical Under Contract Accepting Backups
3. 2026-04-15
   listed $185,000 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 5 d/yr ≥110°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,707
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,457
• − Management: −$2,457
• − Depreciation: −$5,382
• Taxable income: $6,349
• Est. tax owed @ 24.0%: −$1,524
• After-tax cash flow: $7,393/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 · 12 photos

Good 80/100 Cosmetic rehab

This 2015 Champion home is in excellent condition with upgrades throughout, making it move-in ready for both resale and rental.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics.
• Both Replace outdoor lighting — Improves safety and enhances curb appeal.
• Both Upgrade kitchen appliances — Modernizes the kitchen and adds value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics. ↑
• Both Replace outdoor lighting — Improves safety and enhances curb appeal. ↑
• Both Upgrade kitchen appliances — Modernizes the kitchen and adds value for both resale and rental. ↑

ⓘ 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: Paradise Valley Unified District (4241)
• NCES district ID: 0405930
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $64,106
• Composite: 37.89/100
• National rank: #4316
• State rank: #56 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): 26,199
• Household income: $106,724
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 547.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 16% Two or more races 12% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 3% Portuguese 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 78% English-only · Spanish 10% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -82.95%
• Current HPI: 312.7238
• Rent YoY: ▲ 1.44%
• 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

3 events — show timeline

• 2026-05-10 Pending — ARMLS
• 2026-04-30 Contingent — ARMLS
• 2026-04-15 Listed $185,000 ARMLS