Phoenix AZ - Rental potential for single family homes

[Madhavan Thiyagarajan]

I live in South California and planning to buy some single family homes in Phoenix AZ particularly around Gilbert, Chandler, Oro valley for renting out. How is the rental market potential in those areas for 3 or 4 bedroom houses built after 2000. Any local realtors or investors advise much appreciated. My budget range for the properties would be 200k - 280k preferably built after 2000. 

[Melanie Johnston]

Hey @Madhavan Thiyagarajan. I'm an agent in Metro Phoenix/Scottsdale. Thought I would answer your inquiry by running a Multiple Listing Services (MLS) search for your parameters.

Here's the result for Gilbert & Chandler: 

http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=1gaxdvj3h58m&s=12&id=1&san=39789&cid=1

You can see that inventory is limited, thanks to high demand.

In case you want to open up your options, here's the availability in Goodyear, which is getting a lot of attention for job growth.

http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=1gaxdw5s6z31&s=12&id=1&san=79675&cid=1

Here's an article on Goodyear's growth:

https://www.azfamily.com/shows/good_morning_arizona/goodyear-attracting-new-businesses-shows-no-signs-of-slowing-down/article_5bbb0802-eecd-11e9-af25-473f17e8ba36.html

Hope this helps you build your knowledge base on what's happening right now in the Metro Phoenix market. Let me know if I can help.

Melanie