2727 E University Dr #4 · Tempe, AZ 85288

$99,900

2 bd · 2.0 ba · 1,680 sqft · Manufactured · 65 Days on market

Built 2006 5,200 sqft lot Est $161k · 38% under

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

Back on the market. Beautiful, clean home. Wonderful covered porch and 2 car carport. Gas stove in eat in kitchen with large living room in open concept layout. All appliances stay, 2 bedroom plus den/office. Dual sink master split floor plan. Open kitchen and living area. Covered patio and carport with shed Space rent. Entire park is being updated. Park must approve you and you must be 55+ at application time. Near Tempe Market Place, Cubs Stadium, ASU, Riverview Marketplace.

Key facts

• Covered front porch
• 2 car carport
• Eat in kitchen

Tags

• COVERED FRONT PORCH
• 2 CAR CARPORT
• ATTACHED SHED
• OPEN CONCEPT LAYOUT
• EAT IN KITCHEN
• GAS STOVE

Property features AI

Finance

• HOA & community: Land lease (monthly); Land lease payment $1,065 per month; Community pool; Association covers sewer, water, trash, and grounds maintenance

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership
• Construction: Wood frame construction; Painted exterior; Composition roof
• Exterior features: Storage; Block and partial fencing; Gravel/stone front and back

Interior

• Kitchen: Eat-in kitchen with breakfast bar; Refrigerator included
• Bedrooms: Up to 3 possible bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Double vanity; Eat-in kitchen; Breakfast bar; 9+ flat ceilings; Vaulted ceilings; 3/4 bath in primary bedroom; Dual pane windows; Refrigerator included; Storage
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $928 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 3.4% in Tempe — 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 78/100 on livability (#10 in AZ, #2,527 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living C-, health & safety D, crime F.
• Tempe School District (4258) (urban): math 17% / reading 29% proficiency, ranked #170 of 249 in AZ (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Flora Thew Elementary School (math 9% / reading 20%, grade F, #898 of 1,109 statewide, top 83%, 458 students, 88% FRL); Connolly Middle School (math 22% / reading 29%, grade F, #104 of 218 statewide, top 47%, 984 students, 56% FRL) — zoned schools average 72% FRL vs 57% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.7%/yr); 105 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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 + 1.7% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $100k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.05% ✓
• Cap rate: 17.44%
• Cash-on-cash: 39.79%
• DSCR: 2.77
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $161,280
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2727 E University Dr #78	0.00mi	3/2.0 (+1)	1,540 (-8%)	3mo	$136,130	$88	79
2727 E University Dr #119	0.00mi	3/2.0 (+1)	1,600 (-5%)	15mo	$170,000	$106	74
2727 E Unversity Dr #106	0.03mi	3/2.0 (+1)	1,456 (-13%)	4mo	$140,000	$96	68
2727 E University Dr #40	0.00mi	2/2.0	1,456 (-13%)	14mo	$192,050	$132	66
2727 E University Dr #99	0.12mi	3/2.0 (+1)	1,456 (-13%)	6mo	$172,000	$118	62
2727 E University Dr #110	0.12mi	3/2.0 (+1)	1,456 (-13%)	8mo	$138,000	$95	60
2340 E University Dr #237	0.62mi	3/2.0 (+1)	1,568 (-7%)	13mo	$47,900	$31	44

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 · 1.66% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.44×
• Total profit: $40,196
• Equity at exit: $14,895

10-year hold

• IRR: 40.7%
• Equity multiple: 4.59×
• Total profit: $100,315
• Equity at exit: $8,638

Cash invested: $27,972 (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 85288

• Home prices YoY: -0.7%
• Rents YoY: 1.7%
• Active inventory: 105
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $928

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 50%

Sensitivity live

Price	-10% $997	-5% $962	+0% $928	+5% $893	+10% $859
Rent	-10% $766	-5% $847	+0% $928	+5% $1,008	+10% $1,089
Rate	-1.0pp $978	-0.5pp $953	base $928	+0.5pp $902	+1.0pp $875

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2605 E Lemon St Tempe, AZ	3.0	2.0	1176	$1,999	$1.70	2d	1	0.17mi
540 N May #3106 Mesa, AZ	3.0	2.0	1306	$1,540	$1.18	2d	1	0.41mi
540 N May #3122 Mesa, AZ	3.0	2.0	1306	$1,700	$1.30	2d	1	0.42mi
2320 E Apache Blvd Tempe, AZ	1.0–3.0	1.0–2.0	826	$1,185	$1.43	2d	18	0.53mi
711 N Evergreen Rd Mesa, AZ	1.0–2.0	1.0–2.0	1017	$2,038	$2.00	2d	11	0.61mi
712 N Santa Barbara #1 Mesa, AZ	3.0	2.0	1363	$2,145	$1.57	2d	1	0.66mi
2060 W Devonshire Cir Mesa, AZ	3.0	2.0	1791	$2,600	$1.45	2d	1	0.70mi
2401 E Rio Salado Pkwy Tempe, AZ	2.0–3.0	2.0–3.0	1234	$1,895	$1.54	25d	6	0.72mi
2401 E Rio Salado Pkwy Tempe, AZ	2.0–4.0	2.0–3.5	1470	$1,800	$1.22	2d	4	0.72mi
2325 E Rio Salado Pkwy Tempe, AZ	2.0	1.0–2.0	901	$2,072	$2.30	2d	12	0.78mi
2157 E Apache Blvd Tempe, AZ	2.0	1.0–2.5	899	$2,225	$2.47	2d	35	0.80mi
2125 E Apache Blvd Tempe, AZ	2.0	1.0–2.0	818	$2,017	$2.47	2d	21	0.89mi
850 S River Dr Rm 2 Tempe, AZ	3.0	3.0	1130	$800	$0.71	2d	1	0.93mi
850 S River Dr #2085 Tempe, AZ	2.0	2.0	1130	$1,599	$1.42	2d	1	0.93mi
2027 E University Dr #113 Tempe, AZ	3.0	3.0	1510	$2,250	$1.49	2d	1	1.05mi
2058 E Apache Blvd Tempe, AZ	1.0–3.0	1.0–3.0	1028	$2,276	$2.21	2d	19	1.07mi
901 S Smith Rd #1047 Tempe, AZ	3.0	3.5	1839	$2,895	$1.57	19d	1	1.08mi
901 S Smith Rd #1047 Tempe, AZ	3.0	3.5	1839	$2,895	$1.57	2d	1	1.08mi
901 S Smith Rd #1056 Tempe, AZ	3.0	2.5	1833	$3,000	$1.64	2d	1	1.09mi
2182 E Palmcroft Dr Tempe, AZ	3.0	2.0	1640	$2,296	$1.40	23d	1	1.12mi
2134 E Broadway Rd Tempe, AZ	2.0	2.0	1083	$1,488	$1.37	17d	3	1.13mi
98 S River Dr Tempe, AZ	3.0	1.0–3.0	1090	$3,524	$3.23	2d	25	1.15mi
1530 S River Dr Tempe, AZ	3.0	3.0	1627	$2,595	$1.59	2d	1	1.16mi
909 S Kenwood Cir Unit A Tempe, AZ	2.0	1.0	1443	$1,395	$0.97	6d	1	1.18mi
909 S Kenwood Cir Tempe, AZ	2.0	1.0	1443	$1,395	$0.97	2d	1	1.18mi
1886 E Don Carlos Ave #173 Tempe, AZ	3.0	2.5	1302	$2,399	$1.84	2d	1	1.34mi
1886 E Don Carlos Ave #139 Tempe, AZ	3.0	2.5	1456	$2,450	$1.68	2d	1	1.34mi
1886 E Don Carlos Ave #156 Tempe, AZ	3.0	2.5	1462	$2,195	$1.50	3d	1	1.34mi
1886 E Don Carlos Ave #156 Tempe, AZ	3.0	2.5	1462	$2,195	$1.50	2d	1	1.34mi
1886 E Don Carlos Ave #145 Tempe, AZ	3.0	2.5	1462	$2,195	$1.50	11d	1	1.34mi
1905 E University Dr Tempe, AZ	2.0	2.0	1055	$1,632	$1.55	2d	2	1.37mi
1950 E Broadway Rd Unit 1263104P Tempe, AZ	2.0	2.0	1108	$2,754	$2.49	2d	1	1.38mi
1950 E Broadway Rd Unit 1263100P Tempe, AZ	2.0	2.0	1108	$2,284	$2.06	15d	1	1.38mi
1979 E Rio Salado Pkwy Tempe, AZ	2.0	1.0–2.0	859	$2,911	$3.39	2d	30	1.38mi
1890 S Country Club Way Tempe, AZ	1.0–3.0	1.0–2.0	1131	$1,877	$1.66	2d	8	1.40mi
2634 S Siesta Dr Tempe, AZ	3.0	2.0	1750	$2,600	$1.49	2d	1	1.43mi

Listing history 21 events

1. 2026-06-21
   days on market $99,900 Active 65 DOM
2. 2026-06-18
   days on market $99,900 Active 62 DOM
3. 2026-06-17
   days on market $99,900 Active 61 DOM
4. 2026-06-16
   days on market $99,900 Active 60 DOM
5. 2026-06-15
   days on market $99,900 Active 59 DOM
6. 2026-06-13
   days on market $99,900 Active 57 DOM
7. 2026-06-13
   days on market $99,900 Active 56 DOM
8. 2026-06-09
   days on market $99,900 Active 53 DOM
9. 2026-06-08
   days on market $99,900 Active 52 DOM
10. 2026-06-07
    days on market $99,900 Active 51 DOM
11. 2026-06-04
    days on market $99,900 Active 48 DOM
12. 2026-06-03
    days on market $99,900 Active 47 DOM
13. 2026-06-02
    days on market $99,900 Active 46 DOM
14. 2026-06-01
    days on market $99,900 Active 45 DOM
15. 2026-05-31
    days on market $99,900 Active 44 DOM
16. 2026-05-16
    price $99,900
17. 2026-04-17
    listed $130,000 Active
18. 2019-03-15
    soldstatus $29,999 Closed 484-char remark

    Show marketing remark (484 chars)

    Back on the market. Beautiful, clean home. Wonderful covered porch and 2 car carport. Gas stove in eat in kitchen with large living room in open concept layout. All appliances stay, 2 bedroom plus den/office. Dual sink master split floor plan. Open kitchen and living area. Covered patio and carport with shed Space rent. Entire park is being updated. Park must approve you and you must be 55+ at application time. Near Tempe Market Place, Cubs Stadium, ASU, Riverview Marketplace.

19. 2019-02-22
    status Pending 484-char remark

    Show marketing remark (484 chars)

    Back on the market. Beautiful, clean home. Wonderful covered porch and 2 car carport. Gas stove in eat in kitchen with large living room in open concept layout. All appliances stay, 2 bedroom plus den/office. Dual sink master split floor plan. Open kitchen and living area. Covered patio and carport with shed Space rent. Entire park is being updated. Park must approve you and you must be 55+ at application time. Near Tempe Market Place, Cubs Stadium, ASU, Riverview Marketplace.

20. 2019-02-09
    price $29,999 484-char remark

    Show marketing remark (484 chars)

    Back on the market. Beautiful, clean home. Wonderful covered porch and 2 car carport. Gas stove in eat in kitchen with large living room in open concept layout. All appliances stay, 2 bedroom plus den/office. Dual sink master split floor plan. Open kitchen and living area. Covered patio and carport with shed Space rent. Entire park is being updated. Park must approve you and you must be 55+ at application time. Near Tempe Market Place, Cubs Stadium, ASU, Riverview Marketplace.

21. 2019-02-03
    listed $32,000 Active 484-char remark

    Show marketing remark (484 chars)

    Back on the market. Beautiful, clean home. Wonderful covered porch and 2 car carport. Gas stove in eat in kitchen with large living room in open concept layout. All appliances stay, 2 bedroom plus den/office. Dual sink master split floor plan. Open kitchen and living area. Covered patio and carport with shed Space rent. Entire park is being updated. Park must approve you and you must be 55+ at application time. Near Tempe Market Place, Cubs Stadium, ASU, Riverview Marketplace.

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,577
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$2,906
• Taxable income: $10,144
• Est. tax owed @ 24.0%: −$2,435
• After-tax cash flow: $8,696/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: Tempe School District (4258)
• NCES district ID: 0408310
• Math proficiency: 17% ▼ -19.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $43,112
• Composite: 19.7/100
• National rank: #8721
• State rank: #170 of 249 in AZ

Livability — Tempe

• Score: 78/100
• State rank: #10
• US rank: #2527

Category grades

Amenities A+ Commute A+ Cost of living C- Crime F Employment B- Housing A+ Health & safety D User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tempe, AZ
• County: Maricopa County · 4,537,380 people
• City population: 193,337
• Metro: Phoenix-Mesa-Chandler, AZ

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: ▼ -4.56%
• Current HPI: 693.23
• Rent YoY: ▲ 1.66%
• 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

+212.2% since first listed

6 events — show timeline

• 2026-05-16 Price Changed $99,900 ARMLS
• 2026-04-17 Listed $130,000 ARMLS
• 2019-03-15 Sold (MLS) $29,999 ARMLS
• 2019-02-22 Pending — ARMLS
• 2019-02-09 Price Changed $29,999 ARMLS
• 2019-02-03 Listed $32,000 ARMLS