Good Areas in/near Phoenix for a First Investment Property (House Hack, ADU, SFH)?

[Jonathan K.]

I’m starting out on my real estate investment journey. I’m currently a wholesaler, but I’m looking to buy my first investment property/house hack in the Phoenix area. My budget is around $400K, and I’m looking for subject-to's or seller finance since I likely won’t qualify for traditional financing.

I'm looking for a single-family property, am also open to multifamily, and my plan would be to rent out a room or buy somewhere with the potential to add an ADU/casita. In a perfect world, I'd live in the smaller unit and rent out the larger one, or maybe even run an Airbnb if the property makes sense

I’m looking for a mix of cash flow and stability/appreciation. The main goal is to subsidize my living situation while building equity. I’d live there for about a year while I test out living in Arizona. If I had to choose, I’d lean toward appreciation and long-term stability over maximum cash flow, but ideally I’d find a combination of both.

For lifestyle reasons, I’d love to be as close to Scottsdale as possible. I know prices get higher the closer you get, and deals in my price range may be harder to find. So I’m really interested in hearing what areas near Phoenix you think:
– are on the rise,
– have adjusted in price with the cooling market,
– or are good long-term holds where I could also live comfortably.

Which areas/cities/zip codes in and around Phoenix/Maricopa county would you target with a ~$400K budget for a house hack with appreciation potential?
Any advice or insight would be greatly appreciated.

[Melissa Justice]

@Jonathan K. - Hey Jonathan! local agent and investor in the area. I have access to homes with assumable mortgages as well all over the Valley as that may be another option to consider. Would love to connect and discuss more! Feel free to DM me.