Should I avoid buying properties around downtown Phoenix?

Question

Hi everyone,

I am new to Phoenix and thinking about buying a single family rental near the downtown Phoenix area, since I would like to rent it out to traveling nurses. It seems like all the hospitals are around that area. However, the crime rate seems be very high according to the crime map. My questions are the following:

1) Is phoenix a good city to rent to traveling nurses?

2) Should I avoid buying in the downtown area (the square circle the word Phoenix on google map) due to high crime or other factors?

Thanks! Any advice would be greatly appreciated!

3) Do you have any recommendations on where to invest in Phoenix, especially for traveling nurses?

Thanks,

Jin

Lee Hines · Answer

This may sound goofy and perhaps too simple, but one hack I've found for checking out properties in Phoenix is to pull up the address on Google maps and then look at the satellite photos. You can usually tell pretty quickly if you're in a rough neighborhood. The yards are full of junk and the pools are green or empty. I know there are rougher neighborhoods without these things,  but it can definitely save you some time if you see the entire neighborhood is trashed.

Rodney Sums · Answer

I'll even take it a step further on what @Scott E. said.  You could go even ONE block between a million dollar historic home to a street where there's a bunch of grown men on boys bikes wearing back packs and backwards hats.  Ironically, even properties in those areas appreciated substantially.

Speaking as a nurse, what's the draw wanting to cater specifically to traveling nurses?  Keep in mind there's many other medical professionals that travel like doctors and scrub techs (assist surgeons).  Don't put yourself in a box.  There's also a lot of people who aren't in the medical field that need short term rentals.

Downtown is going to cost big especially if you're looking to cater to medical professionals.  Contact nursing agencies and ask them which hospitals tend to have the greatest demand for travel staff to get an idea what area to target.

Jin Zhang · Answer

Hi Mason, thanks for pointing it out! I am actually looking at Tempe and Mesa as well, especially Tempe. It is also pretty close to some major hospitals in Phoenix.

Mike Delprete · Answer

I think the question is where do you traveling nurses stay now. How far from hospitals do they like to stay? What amenities do they request? How much are they willing to pay? Then see what areas you target market will fit into.

Jin Zhang · Answer

Thank you for the detailed answers and clear suggestions! This is definitely clarify some doubts I have about the area. Looking forward to learn more from experts like you!

Mason Weiss · Answer

I wouldn't shy away from looking at Tempe or Mesa as well. More suburban but still a high density of hospitals.

Scott E. · Answer

It depends. Downtown Phoenix is VERY much one of those areas where you could spend $1M-$1.5M on a beautiful single family home in a historic district. But you drive a few streets south or west and you will be an area that you don't feel comfortable walking down the street at night time.

To answer your 3 questions:

1) Yes phoenix would be a good city to rent to traveling nurses

2) You don't need to avoid the downtown area all together. But if I were you, I would fly out here and drive around with an agent for an afternoon to learn more about this sub market and EXACTLY what neighborhoods to focus on

3) Most of the historic districts around downtown Phoenix have been cleaned up and are nice and well maintained.

Should I avoid buying properties around downtown Phoenix?

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