19401 N 7th St N #187 · Phoenix, AZ 85024

$120,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured · 135 Days on market

Built 2020 Good condition $96/sqft · 54% below area ↓ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the vibrant lifestyle of the Bonaventure community, featuring a well-appointed clubhouse, sparkling pool, relaxing spa, fitness center, and year-round community events. This bright and inviting home, just six years old and beautifully maintained, showcases a neutral color palette with a blend of carpet and laminate flooring throughout. The kitchen features crisp white cabinetry and a convenient breakfast bar that opens to a spacious family room, ideal for both everyday living and entertaining. The home offers three bedrooms in total, including a comfortable primary suite with a walk-in closet. Step outside to the covered side-yard patio--perfect for relaxing or hosting guests--and enjoy the added convenience of two carport parking spaces. Don't miss out on this wonderful home!

Key facts

• Relaxing spa
• Fitness center
• Breakfast bar

Tags

• WELL-APPOINTED CLUBHOUSE
• RELAXING SPA
• FITNESS CENTER
• BREAKFAST BAR
• COVERED SIDE-YARD PATIO
• TWO CARPORT PARKING SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $881 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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); 206 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
5. 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.
6. 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.
7. 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: 1.80% ✓
• Cap rate: 15.10%
• Cash-on-cash: 31.46%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (median comp): $259,000
• List price: $120,000
• Delta: -53.67%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19401 N 7st Lot 94 St #94	0.02mi	3/2.0	1,200 (-4%)	2mo	$84,500	$70	91
19401 N 7th St #25	0.00mi	3/2.0	1,200 (-4%)	4mo	$70,000	$58	90
112 E Villa Theresa Dr	0.68mi	4/2.0 (+1)	1,300 (+4%)	2mo	$340,000	$262	55
417 E Michigan Ave	0.62mi	2/2.0 (-1)	1,249 (+0%)	14mo	$307,000	$246	55
311 E Wagoner Rd	0.68mi	2/2.0 (-1)	1,162 (-7%)	1mo	$250,000	$215	51
437 E Annette Dr	0.55mi	4/3.0 (+1)	1,417 (+14%)	1mo	$309,000	$218	42
18442 N 2nd Pl	0.62mi	3/2.0	1,153 (-8%)	23mo	$295,000	$256	39
314 E Villa Maria Dr	0.69mi	2/2.0 (-1)	1,100 (-12%)	5mo	$215,000	$195	39
440 E Michigan Ave	0.66mi	2/2.0 (-1)	1,153 (-8%)	18mo	$285,000	$247	37

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: 24.6%
• Equity multiple: 1.99×
• Total profit: $33,339
• Equity at exit: $17,892

10-year hold

• IRR: 31.4%
• Equity multiple: 3.62×
• Total profit: $88,094
• Equity at exit: $10,375

Cash invested: $33,600 (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: 206
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,165 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $881

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 54%

Sensitivity live

Price	-10% $964	-5% $922	+0% $881	+5% $839	+10% $798
Rent	-10% $710	-5% $795	+0% $881	+5% $966	+10% $1,052
Rate	-1.0pp $941	-0.5pp $911	base $881	+0.5pp $850	+1.0pp $818

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19601 N 7th St Phoenix, AZ	2.0–3.0	2.0–2.5	1000	$1,695	$1.69	6d	3	0.32mi
18437 N 8th Pl Phoenix, AZ	3.0	2.0	1355	$1,980	$1.46	6d	1	0.39mi
19835 N 8th Pl Phoenix, AZ	3.0	3.0	1320	$2,300	$1.74	8d	1	0.48mi
425 E Marco Polo Rd Phoenix, AZ	3.0	2.0	1168	$2,395	$2.05	3d	1	0.51mi
1032 E Villa Maria Dr Phoenix, AZ	2.0	2.0	1097	$1,850	$1.69	20d	1	0.60mi
1032 E Villa Maria Dr Phoenix, AZ	2.0	2.0	1097	$1,850	$1.69	8d	1	0.60mi
726 E Villa Rita Dr Phoenix, AZ	2.0	2.0	1088	$2,000	$1.84	19d	1	0.62mi
726 E Villa Rita Dr Phoenix, AZ	2.0	2.0	1088	$2,000	$1.84	11d	1	0.62mi
1420 E Topeka Dr Phoenix, AZ	3.0	2.5	1464	$2,215	$1.51	8d	1	0.67mi
1136 E Villa Rita Dr Phoenix, AZ	2.0	2.0	1141	$1,950	$1.71	25d	1	0.71mi
18217 N 2nd Pl Phoenix, AZ	2.0	1.0	833	$1,300	$1.56	17d	1	0.74mi
1126 E Charleston Ave Phoenix, AZ	3.0	2.0	1214	$2,450	$2.02	4d	1	0.75mi
20435 N 7th St Phoenix, AZ	1.0–3.0	1.0–2.0	934	$2,153	$2.31	0d	20	0.78mi
1506 E Wescott Dr Phoenix, AZ	3.0	2.0	1136	$2,045	$1.80	6d	1	0.79mi
1510 E Taro Ln Phoenix, AZ	3.0	2.0	1136	$2,149	$1.89	25d	1	0.79mi
18633 N 15th St Phoenix, AZ	3.0	2.0	1240	$2,249	$1.81	8d	1	0.81mi
1130 E Grovers Ave Phoenix, AZ	2.0	2.0	934	$1,336	$1.43	2d	12	0.83mi
815 E Grovers Ave Phoenix, AZ	1.0–2.0	1.0–2.5	1469	$2,800	$1.91	6d	2	0.88mi
17625 N 7th St Phoenix, AZ	1.0–3.0	1.0–2.0	925	$1,739	$1.88	4d	7	0.93mi
17617 N 9th St Phoenix, AZ	1.0–3.0	1.0–2.0	956	$2,017	$2.11	0d	36	0.95mi
1717 E Union Hills Dr #1052 Phoenix, AZ	2.0	2.0	1160	$4,000	$3.45	44d	1	1.13mi
310 W Pontiac Dr #8 Phoenix, AZ	2.0	2.0	994	$1,700	$1.71	15d	1	1.14mi
409 W Pontiac Dr #3 Phoenix, AZ	2.0	2.0	863	$1,495	$1.73	24d	1	1.16mi
17249 N 7th St Phoenix, AZ	1.0–3.0	1.0–2.0	1082	$1,973	$1.82	0d	50	1.17mi
1702 E Michelle Dr Phoenix, AZ	2.0	2.0	1300	$2,200	$1.69	5d	1	1.17mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1245	$4,000	$3.21	22d	4	1.21mi
1717 E Union Hills Dr Phoenix, AZ	2.0–3.0	2.0	1169	$4,000	$3.42	4d	3	1.21mi
312 W Yukon Dr #2 Phoenix, AZ	2.0	2.0	863	$1,550	$1.80	25d	1	1.22mi
312 W Yukon Dr #7 Phoenix, AZ	2.0	2.0	863	$1,425	$1.65	22d	1	1.22mi
314 E Hartford Ave Phoenix, AZ	2.0	2.0	1320	$2,195	$1.66	25d	1	1.23mi
229 E Anderson Ave Phoenix, AZ	2.0	2.0	1256	$2,100	$1.67	8d	1	1.24mi
317 W Hononegh Dr Phoenix, AZ	2.0	2.0	994	$1,495	$1.50	19d	1	1.25mi
511 W Blackhawk Dr #4 Phoenix, AZ	2.0	2.0	994	$1,550	$1.56	25d	1	1.27mi
1100 E Bell Rd Phoenix, AZ	1.0–3.0	1.0–2.0	987	$2,274	$2.30	0d	23	1.27mi
501 W Yukon Dr #4 Phoenix, AZ	2.0	2.0	994	$1,695	$1.71	8d	1	1.29mi
118 E Anderson Ave Phoenix, AZ	2.0	2.0	1272	$1,950	$1.53	25d	1	1.29mi
601 W Yukon Dr #3 Phoenix, AZ	2.0	2.0	863	$1,563	$1.81	44d	1	1.32mi
17420 N 2nd Ave Phoenix, AZ	3.0	2.0	1312	$2,000	$1.52	22d	1	1.33mi
1450 E Bell Rd Phoenix, AZ	1.0–3.0	1.0–2.0	957	$2,091	$2.18	0d	93	1.34mi
17017 N 12th St Phoenix, AZ	1.0–2.0	1.0–2.0	1008	$2,500	$2.48	0d	10	1.39mi

Listing history 26 events

1. 2026-06-21
   days on market $120,000 Active 135 DOM
2. 2026-06-18
   days on market $120,000 Active 132 DOM
3. 2026-06-17
   days on market $120,000 Active 131 DOM
4. 2026-06-16
   days on market $120,000 Active 130 DOM
5. 2026-06-15
   days on market $120,000 Active 129 DOM
6. 2026-06-13
   days on market $120,000 Active 127 DOM
7. 2026-06-13
   days on market $120,000 Active 126 DOM
8. 2026-06-09
   days on market $120,000 Active 123 DOM
9. 2026-06-08
   days on market $120,000 Active 122 DOM
10. 2026-06-07
    days on market $120,000 Active 121 DOM
11. 2026-06-04
    days on market $120,000 Active 118 DOM
12. 2026-06-03
    days on market $120,000 Active 117 DOM
13. 2026-06-02
    days on market $120,000 Active 116 DOM
14. 2026-06-01
    days on market $120,000 Active 115 DOM
15. 2026-05-31
    days on market $120,000 Active 114 DOM
16. 2026-04-03
    price $130,000 793-char remark

    Show marketing remark (793 chars)

    Enjoy the vibrant lifestyle of the Bonaventure community, featuring a well-appointed clubhouse, sparkling pool, relaxing spa, fitness center, and year-round community events. This bright and inviting home, just six years old and beautifully maintained, showcases a neutral color palette with a blend of carpet and laminate flooring throughout. The kitchen features crisp white cabinetry and a convenient breakfast bar that opens to a spacious family room, ideal for both everyday living and entertaining. The home offers three bedrooms in total, including a comfortable primary suite with a walk-in closet. Step outside to the covered side-yard patio--perfect for relaxing or hosting guests--and enjoy the added convenience of two carport parking spaces. Don't miss out on this wonderful home!

17. 2026-02-06
    listed $140,000 Active 793-char remark

    Show marketing remark (793 chars)

    Enjoy the vibrant lifestyle of the Bonaventure community, featuring a well-appointed clubhouse, sparkling pool, relaxing spa, fitness center, and year-round community events. This bright and inviting home, just six years old and beautifully maintained, showcases a neutral color palette with a blend of carpet and laminate flooring throughout. The kitchen features crisp white cabinetry and a convenient breakfast bar that opens to a spacious family room, ideal for both everyday living and entertaining. The home offers three bedrooms in total, including a comfortable primary suite with a walk-in closet. Step outside to the covered side-yard patio--perfect for relaxing or hosting guests--and enjoy the added convenience of two carport parking spaces. Don't miss out on this wonderful home!

18. 2025-06-21
    historical
19. 2025-03-17
    price $150,000
20. 2025-02-24
    price $170,000
21. 2024-12-08
    price $199,999
22. 2024-07-15
    listed $222,000 Active
23. 2023-03-22
    soldstatus $150,000 Closed
24. 2023-02-27
    status Pending
25. 2023-01-30
    historical Contract Contingent on Buyer Sale
26. 2022-12-16
    listed $150,000 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 6 d/yr ≥111°F today · 16 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: $25,976
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$2,078
• − Management: −$2,078
• − Depreciation: −$3,491
• Taxable income: $9,207
• Est. tax owed @ 24.0%: −$2,210
• After-tax cash flow: $8,360/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 well-maintained, six-year-old manufactured home in the Bonaventure community is in good condition with a neutral color palette and modern finishes. It offers a good return on investment with minor updates that can further increase its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and can increase property value
• Both Replace ceiling fans with energy-efficient models — Improves air circulation and reduces energy costs
• Both Install smart home devices — Enhances convenience and can increase property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and can increase property value ↑
• Both Replace ceiling fans with energy-efficient models — Improves air circulation and reduces energy costs ↑
• Both Install smart home devices — Enhances convenience and can increase property value ↑

ⓘ 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

-13.3% since first listed

11 events — show timeline

• 2026-04-03 Price Changed $130,000 ARMLS
• 2026-02-06 Listed $140,000 ARMLS
• 2025-06-21 Listing Removed — ARMLS
• 2025-03-17 Price Changed $150,000 ARMLS
• 2025-02-24 Price Changed $170,000 ARMLS
• 2024-12-08 Price Changed $199,999 ARMLS
• 2024-07-15 Listed $222,000 ARMLS
• 2023-03-22 Sold (MLS) $150,000 ARMLS
• 2023-02-27 Pending — ARMLS
• 2023-01-30 Contingent — ARMLS
• 2022-12-16 Listed $150,000 ARMLS