1804 W Tepee St #19 · Apache Junction, AZ 85120

$36,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 47 Days on market

Built 1979 Good condition Est $64k · 44% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Affordable, move-in ready living with scenic views - welcome home! This charming 2-bedroom, 1-bath mobile home is located in a gated Active Adult community and offers beautiful mountain views right from your doorstep. Well-maintained and ready for its next owner, the home includes a refrigerator, washer, and dryer for added convenience. Outside, you'll find a storage shed and two covered carport spaces. Enjoy a welcoming community with amenities such as a clubhouse, pool, and fitness center, perfect for relaxing and staying active. Whether you're looking for a full-time residence or a low-maintenance retreat, this home offers comfort, value, and lifestyle!

Key facts

• 2 parking spots
• Community pool
• Built 1979

Property features AI

Finance

• HOA & community: Land lease of $640 per month; No association fees included; Community amenities: Pool, Fitness Center, Gated

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Security: Gated community
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold property
• Construction: Metal siding and wood frame construction; Metal roof; Building area reported by owner
• Exterior features: Gravel/stone front; Shed(s) on the property; Asphalt road access

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 possible bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air; Ceiling fan(s)
• Interior features: High-speed internet available; Eat-in kitchen; Full bathroom in primary bedroom
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $36k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $995 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $36k).
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• Cap rate 39.5% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 33% 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 $249 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,920 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 4.37% ✓
• Cap rate: 39.46%
• Cash-on-cash: 118.45%
• DSCR: 6.27
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $64,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1804 W Tepee St #64	0.01mi	2/1.5	784 (0%)	16mo	$39,000	$50	84
1784 N Main Dr	0.16mi	2/1.0	833 (+6%)	4mo	$249,995	$300	79
1804 W Tepee St #34	0.01mi	2/1.5	840 (+7%)	16mo	$27,000	$32	72
1030 N Delaware Dr #17	0.58mi	2/1.0	780 (-0%)	8mo	$16,000	$21	66
2338 W Shiprock St	0.36mi	2/1.5	721 (-8%)	9mo	$250,000	$347	60
1644 N Desert View Dr N	0.51mi	2/2.0	846 (+8%)	7mo	$271,500	$321	53
929 N Delaware Dr #25	0.54mi	1/1.0 (-1)	730 (-7%)	8mo	$27,000	$37	52
1776 N San Marcos Dr	0.61mi	2/1.0	841 (+7%)	14mo	$385,000	$458	48
1325 N Delaware Dr	0.37mi	2/1.5	896 (+14%)	12mo	$25,000	$28	47
1150 N Delaware Dr #24	0.58mi	2/2.0	896 (+14%)	2mo	$28,000	$31	44
2292 N Ironwood Dr #89	0.38mi	3/2.0 (+1)	672 (-14%)	14mo	$55,000	$82	38
985 W Roundup St	0.61mi	2/2.0	896 (+14%)	12mo	$330,000	$368	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.25×
• Total profit: $52,948
• Equity at exit: $5,368

10-year hold

• IRR: —
• Equity multiple: 11.91×
• Total profit: $109,973
• Equity at exit: $3,113

Cash invested: $10,080 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,574 high
• Mortgage (P&I): −$189
• Tax est. 1.5%: −$45 /mo · $540/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $995

Break-even live

Break-even rent $315

Max offer price $36,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,020	-5% $1,007	+0% $995	+5% $983	+10% $970
Rent	-10% $871	-5% $933	+0% $995	+5% $1,057	+10% $1,119
Rate	-1.0pp $1,013	-0.5pp $1,004	base $995	+0.5pp $986	+1.0pp $976

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: $9,000
• Closing costs: $1,080
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	5d	1	0.71mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	26d	1	0.78mi
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	21d	1	0.95mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	25d	1	0.95mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1010	$1,900	$1.88	26d	3	1.14mi
455 S Delaware Dr Unit 179 Apache Junction, AZ	2.0	2.0	1060	$2,395	$2.26	26d	1	1.38mi
455 S Delaware Dr Apache Junction, AZ	2.0	2.0	1060	$2,048	$1.93	22d	2	1.38mi

Listing history 15 events

1. 2026-06-21
   days on market $36,000 Active 47 DOM
2. 2026-06-18
   days on market $36,000 Active 44 DOM
3. 2026-06-17
   days on market $36,000 Active 43 DOM
4. 2026-06-16
   days on market $36,000 Active 42 DOM
5. 2026-06-15
   days on market $36,000 Active 41 DOM
6. 2026-06-13
   days on market $36,000 Active 39 DOM
7. 2026-06-09
   days on market $36,000 Active 35 DOM
8. 2026-06-08
   days on market $36,000 Active 34 DOM
9. 2026-06-07
   days on market $36,000 Active 33 DOM
10. 2026-06-04
    days on market $36,000 Active 30 DOM
11. 2026-06-03
    days on market $36,000 Active 29 DOM
12. 2026-06-02
    days on market $36,000 Active 28 DOM
13. 2026-06-01
    days on market $36,000 Active 27 DOM
14. 2026-05-31
    days on market $36,000 Active 26 DOM
15. 2026-05-05
    listed $36,000 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 6/10 Major
• 🌡 Heat 8/10 Severe 5 d/yr ≥111°F today · 14 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: $18,893
• − Mortgage interest: −$2,017
• − Property taxes: −$540
• − Insurance: −$180
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$1,047
• Taxable income: $12,086
• Est. tax owed @ 24.0%: −$2,901
• After-tax cash flow: $9,039/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 75/100 Cosmetic rehab

This move-in ready mobile home in a gated community offers a good condition with modern updates and scenic views. Minor touch-ups and maintenance can further enhance its appeal.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value.
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value. ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for renters. ↑

ⓘ 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: 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

1 event — show timeline

• 2026-05-05 Listed $36,000 ARMLS