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

$32,900

2 bd · 1.0 ba · 784 sqft · Manufactured · 139 Days on market

Manufactured home 55+ age-restricted Built 1979 Good condition $42/sqft · 45% below area Est $60k · 45% 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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Appreciation +2.5/10.0
• Rent growth +1.6/5.0
• Schools +1.5/10.0
• Manufactured-home adj. -5.2

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

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $33k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $717 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.5% vs local median 3.0% 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); 772 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 68d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $227 of loan paydown is wiped out by about $987 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($29k) 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 $28,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.64% ✓
• Cap rate: 32.46%
• Cash-on-cash: 93.46%
• DSCR: 5.16
• GRM: 2.3

CMA / ARV

• ARV (median comp): $60,000
• List price: $32,900
• Delta: -45.17%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

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%)	19mo	$39,000	$50	82
1784 N Main Dr	0.16mi	2/1.0	833 (+6%)	7mo	$249,995	$300	76
1770 N Valley Dr #19	0.33mi	2/1.0	840 (+7%)	3mo	$45,000	$54	70
1030 N Delaware Dr #17	0.58mi	2/1.0	780 (-0%)	11mo	$16,000	$21	63
2338 W Shiprock St	0.36mi	2/1.5	721 (-8%)	12mo	$250,000	$347	58
1644 N Desert View Dr N	0.51mi	2/2.0	846 (+8%)	10mo	$271,500	$321	50
929 N Delaware Dr #25	0.54mi	1/1.0 (-1)	730 (-7%)	11mo	$27,000	$37	49
1776 N San Marcos Dr	0.61mi	2/1.0	841 (+7%)	17mo	$385,000	$458	45
1325 N Delaware Dr	0.37mi	2/1.5	896 (+14%)	15mo	$25,000	$28	44
1150 N Delaware Dr #24	0.58mi	2/2.0	896 (+14%)	5mo	$28,000	$31	41
2292 N Ironwood Dr #89	0.38mi	3/2.0 (+1)	672 (-14%)	17mo	$55,000	$82	35
985 W Roundup St	0.61mi	2/2.0	896 (+14%)	15mo	$330,000	$368	32

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: 90.9%
• Equity multiple: 5.00×
• Total profit: $36,876
• Equity at exit: $4,905

10-year hold

• IRR: 93.2%
• Equity multiple: 9.41×
• Total profit: $77,478
• Equity at exit: $2,845

Cash invested: $9,212 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 4 under contract
• Months of supply: 14.6 mo (7%/mo absorbed)
• Median asking: $45,000 ($55/sqft)
• Median days on market: 97 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +38.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 85120

• Home prices YoY: -29.0%
• Rents YoY: -3.5%
• Active inventory: 772
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $494/yr
• Insurance: −$14
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $717

Break-even live

Break-even rent $288

Max offer price $32,900

Occupancy floor 35%

Sensitivity live

Price	-10% $740	-5% $729	+0% $717	+5% $706	+10% $695
Rent	-10% $623	-5% $670	+0% $717	+5% $765	+10% $812
Rate	-1.0pp $734	-0.5pp $726	base $717	+0.5pp $709	+1.0pp $700

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: $8,225
• Closing costs: $987
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
853 N Main Dr Apache Junction, AZ	1.0–2.0	1.5–2.0	829	$1,800	$2.17	10d	7	0.48mi
1030 N Delaware Dr Unit 30 Apache Junction, AZ	2.0	1.0	624	$995	$1.59	67d	1	0.56mi
2185 W Ohio St Apache Junction, AZ	2.0	1.0	1000	$1,295	$1.29	99d	1	0.71mi
455 N Delaware Dr Unit 7 Apache Junction, AZ	2.0	2.0	1060	$1,900	$1.79	120d	1	0.78mi
2151 N Meridian Rd #55 Apache Junction, AZ	2.0	1.0	910	$1,400	$1.54	10d	1	0.88mi
135 N Palo Verde Dr Apache Junction, AZ	1.0	1.0	750	$915	$1.22	115d	1	0.95mi
135 N Palo Verde Dr Unit 8 Apache Junction, AZ	1.0	1.0	750	$925	$1.23	119d	1	0.95mi
925 N Plaza Dr #92 Apache Junction, AZ	2.0	2.0	672	$1,449	$2.16	72d	1	1.05mi
925 N Plaza Dr #22 Apache Junction, AZ	1.0	1.0	540	$1,229	$2.28	67d	1	1.08mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	0d	2	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	19d	4	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	2d	3	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1010	$1,800	$1.78	33d	4	1.14mi
1440 N Idaho Rd Apache Junction, AZ	1.0–2.0	1.0–1.5	1015	$1,800	$1.77	4d	3	1.14mi
800 W Apache Trl Lot 38 Apache Junction, AZ	2.0	1.0	560	$1,129	$2.02	72d	1	1.19mi
455 S Delaware Dr Apache Junction, AZ	2.0	2.0	1060	$2,048	$1.93	116d	2	1.38mi
455 S Delaware Dr Unit 179 Apache Junction, AZ	2.0	2.0	1060	$2,395	$2.26	120d	1	1.38mi

Property features AI

Finance

• HOA & community: Land lease of $640 per monthNo association fees includedCommunity amenities: Pool, Fitness Center, Gated

Exterior

• Parking: 2 covered parking spaces2 carport spaces
• Security: Gated community
• Utilities: City waterPublic sewer
• Home design: Manufactured/mobile homeLeasehold property
• Construction: Metal siding and wood frame constructionMetal roofBuilding area reported by owner
• Exterior features: Gravel/stone frontShed(s) on the propertyAsphalt road access

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 possible bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingCentral airCeiling fan(s)
• Interior features: High-speed internet availableEat-in kitchenFull bathroom in primary bedroom
• Laundry & utility: Laundry inside

Listing history 50 events

1. 2026-09-21
   days on market $32,900 Active 139 DOM
2. 2026-09-20
   days on market $32,900 Active 138 DOM
3. 2026-09-19
   days on market $32,900 Active 137 DOM
4. 2026-09-18
   days on market $32,900 Active 136 DOM
5. 2026-09-17
   days on market $32,900 Active 135 DOM
6. 2026-09-16
   days on market $32,900 Active 134 DOM
7. 2026-09-15
   days on market $32,900 Active 133 DOM
8. 2026-09-14
   days on market $32,900 Active 132 DOM
9. 2026-09-13
   days on market $32,900 Active 131 DOM
10. 2026-09-12
    days on market $32,900 Active 130 DOM
11. 2026-09-11
    days on market $32,900 Active 129 DOM
12. 2026-09-05
    days on market $32,900 Active 123 DOM
13. 2026-09-04
    days on market $32,900 Active 122 DOM
14. 2026-09-03
    days on market $32,900 Active 121 DOM
15. 2026-08-31
    days on market $32,900 Active 118 DOM
16. 2026-08-30
    days on market $32,900 Active 117 DOM
17. 2026-08-29
    days on market $32,900 Active 116 DOM
18. 2026-08-28
    days on market $32,900 Active 115 DOM
19. 2026-08-27
    days on market $32,900 Active 114 DOM
20. 2026-08-26
    days on market $32,900 Active 113 DOM
21. 2026-08-25
    days on market $32,900 Active 112 DOM
22. 2026-08-24
    days on market $32,900 Active 111 DOM
23. 2026-08-23
    days on market $32,900 Active 110 DOM
24. 2026-08-22
    days on market $32,900 Active 109 DOM
25. 2026-08-21
    days on market $32,900 Active 108 DOM
26. 2026-08-20
    days on market $32,900 Active 107 DOM
27. 2026-08-19
    days on market $32,900 Active 106 DOM
28. 2026-08-18
    days on market $32,900 Active 105 DOM
29. 2026-08-17
    days on market $32,900 Active 104 DOM
30. 2026-08-16
    days on market $32,900 Active 103 DOM
31. 2026-08-15
    days on market $32,900 Active 102 DOM
32. 2026-08-14
    days on market $32,900 Active 101 DOM
33. 2026-08-13
    days on market $32,900 Active 100 DOM
34. 2026-08-12
    days on market $32,900 Active 99 DOM
35. 2026-08-11
    days on market $32,900 Active 98 DOM
36. 2026-08-10
    days on market $32,900 Active 97 DOM
37. 2026-08-09
    days on market $32,900 Active 96 DOM
38. 2026-08-08
    days on market $32,900 Active 95 DOM
39. 2026-08-06
    days on market $32,900 Active 93 DOM
40. 2026-08-05
    days on market $32,900 Active 92 DOM
41. 2026-08-04
    pricedays on market $32,900 Active 91 DOM
42. 2026-08-03
    days on market $36,000 Active 90 DOM
43. 2026-07-31
    days on market $36,000 Active 87 DOM
44. 2026-07-30
    days on market $36,000 Active 86 DOM
45. 2026-07-30
    days on market $36,000 Active 85 DOM
46. 2026-07-28
    days on market $36,000 Active 84 DOM
47. 2026-07-26
    days on market $36,000 Active 82 DOM
48. 2026-07-24
    days on market $36,000 Active 80 DOM
49. 2026-07-23
    days on market $36,000 Active 79 DOM
50. 2026-07-22
    days on market $36,000 Active 78 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 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: $14,352
• − Mortgage interest: −$1,843
• − Property taxes: −$494
• − Insurance: −$164
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$957
• Taxable income: $8,597
• Est. tax owed @ 24.0%: −$2,063
• After-tax cash flow: $6,546/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 Est. rehab $3,920–$11,760 screening

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. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

Elementary Four Peaks Elementary School F AZ #898/1,109 Nat'l #36,758/41,679 Middle Cactus Canyon Junior High F AZ #151/218 Nat'l #12,406/14,009 High Apache Junction High School F AZ #267/381 Nat'l #15,534/17,239

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

C Composite livability gradescore 66/100

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 · 437,574 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: 14% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• HOA & community: Land lease of $640 per monthNo association fees includedCommunity amenities: Pool, Fitness Center, Gated

Exterior

• Parking: 2 covered parking spaces2 carport spaces
• Security: Gated community
• Utilities: City waterPublic sewer
• Home design: Manufactured/mobile homeLeasehold property
• Construction: Metal siding and wood frame constructionMetal roofBuilding area reported by owner
• Exterior features: Gravel/stone frontShed(s) on the propertyAsphalt road access

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 possible bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingCentral airCeiling fan(s)
• Interior features: High-speed internet availableEat-in kitchenFull bathroom in primary bedroom
• Laundry & utility: Laundry inside

Price history

1 event — show timeline

• 2026-05-05 Listed $36,000 ARMLS