Area to Invest in Phoenix, Arizona

Most Popular Reply

Josh YoungPro Member
Rental Property Investor / REALTOR® / Property Manager · Gilbert, AZ · Member since 2023 · 385 posts · 421 votes
3y

@Prachi Metha I really like the fringe areas to the southeast valley. New builds in Casa Grande are my top pick for a long term rental SFH. Population growth is 6% annually. You can buy a new build for just over $300k and rents for just under $2k, annual property taxes and insurance for under $2500 combine, 2% credits when you use their lender to get interest rate under 7% if you put 25% down. Maricopa and Florence are also good fringe areas in the path of development, but I like Casa Grande the most because of the infrastructure of the two highways that will attract more business/jobs for long term growth.

[email protected]802-274-8121
2Reply
See this reply in the discussion

6 Replies

Jump to latestLatest
  • Noah CorwickPro Member
    Realtor · Phoenix, AZ · Member since 2021 · 271 posts · 115 votes
    3y

    Hi Prachi, 

    It really depends on what your long term strategy is and what your desired price point is honestly. So I wouldn't firmly feel comfortable suggesting areas without knowing this. However, here are some areas that come to mind based on safeness:

    -Gilbert is a safe area from LTR standpoint. If you can find one near Downtown Gilbert, you also gain a high appreciation play into this as well. 

    -Scottsdale is obviously a safe one too. You can find some for a decent price point in South Scottsdale near Papago.  

    Overall I do also want to note that right now it's hard to find on market deals that will cashflow at this exact moment though. 

    [email protected]602-834-4617
    1Reply
  • Jeffrey DanielsBusiness Member
    Real Estate Broker · Phoenix, AZ · Member since 2016 · 68 posts · 38 votes
    3y

    Hi @Prachi Metha! There was another post just started similar to this that I replied to... I'm just going to post my reply to that one here, and send me a DM if you'd like to chat more about what's happening in the Valley! I like Tempe too, but that's another area that may be leveling out for appreciation:

    My top 5:

    1. Sunnyslope - Before changing enrollment method, parents used to wait in line overnight to enroll at this high school, like it was to get tickets to Aerosmith (Gen Y, think Taylor Swift). Hatcher could become the next Melrose. A hospital, and some excellent restaurant/bar options already.

    2. North Mountain Village - previously stigmatized area due to Metro Center, the "bad mall". Now gone with an approved $850M redevelopment project which includes being the terminal point for light rail.

    3. El Mirage - Spanish for "Surprise", and half the cost for the same homes. Closer to the city and 10 minutes from Luke AFB.

    4. South Phoenix - Completing the 202 Loop around South Mountain plugs this area into Chandler's Price Cooridor just as easily as downtown Phoenix. Lot's of developers, vacant land, and loong time owners here.

    5. Hmm, Maryvale - If Maryvale had been built with an HOA, it would be Arcadia. 3rd generation Phoenicians thumb their noses, old heads remember water problems, while people relocating from NY/LA/Chicago think the crime rates are "cute". If the budget is under $400k, join the block watch and help build the community, because there is no way this area remains inexpensive while homes to the West twice as far from downtown get into double the valuations here.

    [email protected]602-975-3566
    Jeffrey Daniels, REALTOR® - Century 21 Arizona Foothills519 Reviews
    WebsiteView Page
    1Reply
  • Josh YoungPro Member
    Rental Property Investor / REALTOR® / Property Manager · Gilbert, AZ · Member since 2023 · 385 posts · 421 votes
    3y

    @Prachi Metha I really like the fringe areas to the southeast valley. New builds in Casa Grande are my top pick for a long term rental SFH. Population growth is 6% annually. You can buy a new build for just over $300k and rents for just under $2k, annual property taxes and insurance for under $2500 combine, 2% credits when you use their lender to get interest rate under 7% if you put 25% down. Maricopa and Florence are also good fringe areas in the path of development, but I like Casa Grande the most because of the infrastructure of the two highways that will attract more business/jobs for long term growth.

    [email protected]802-274-8121
    2Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    3y

    You are going to get a better short term and long term return in places like Casa Grande. Especially if you can find a wholesale property under market value and fix it up. I personally wouldn’t encourage you to buy a property for $300,000 in that area. But, if you can find a property that’s older that needs to be fixed up for around $120,000 to $140,000 that you can put $40,000 or $50,000 in fixing it up and you can get it to value have between $220,000 and $250,000 that’s gonna be a better investment than buying some thing that is already fixed up and ready to go. 

    480-206-1209Podcast Guest on Show #287
    0Reply
  • Andrew McGuire
    Real Estate Agent · Chandler, AZ · Member since 2022 · 215 posts · 156 votes
    3y

    Follow the good school districts. Ratings are public information. 

    0Reply
  • Bretton F TrapnellBusiness Member
    Real Estate Agent · Phoenix, AZ · Member since 2021 · 18 posts · 5 votes
    3y
    Quote from @Prachi Metha:

    I have one mid term rental in Tempe area, looking to invest into SFH long term rental. Any recommendations on areas to focus? Please share your thoughts.

    Hi Prachi! 

    Like others have said, it really just depends on your target, purchase power, and funds available. There are many good rental markets across the entire valley.

    Gilbert is excellent for appreciation.

    Parts of Phoenix have incredible cash flow.

    Glendale has inexpensive single family houses.

    Mesa has inexpensive condos with decent rental income.

    If you’d like to message me more details on what you are looking for and what your limitations are I would be happy to help how I can!

    [email protected]602-935-1721
    Bretton | HomeSmart513 Reviews
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free