Real Estate Agent · Phoenix metro, AZ (Surprise · Casa Grande · West Valley) · Member since 2024 · 15 posts · 3 votes
Curious how other Phoenix-metro investors are underwriting right now, especially Surprise / West Valley vs Casa Grande / Pinal fringe.
What I’m seeing locally:
- List price still looks "cheap" vs California — until you bake in taxes, insurance, HOA (if any), and peak summer cooling.
- Submarkets diverge a lot on commute, CFD/impact fees, and tenant demand. Same metro label doesn't mean the same hold.
- Fall showings pick up; payment math still beats the listing photo.
Questions for the group:
1. Are you still filtering first for livable-now + rental-later, or pure BRRRR math?
2. For under ~$350–400k SFH, which Phoenix-metro pockets are still penciling for you after full carry?
3. Any insurance / utility surprises that changed a deal after you got under contract?
I’m a bilingual REALTOR® (REAL Broker) working with investors and relocators across Surprise, Casa Grande, and the West Valley. Happy to compare notes on specific zips — not pitching listings here.
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
2w
Hi @Jesus Sanchez I look at all the numbers except utilities because the tenants pay for the untilities. I will run the numbers as a BRRRLO which is a BRRRR plus lease option.
I buy in Mesa, AJ, Florence, Casa Grande, and Coolidge. However I have purchased 5 in Arizona city within the last 3 months because the numbers made sense. I am looking to flip 3 of them but if they don't sell pretty quickly I will switch them to a lease option.
I host meetups in Mesa every 4th Monday of the month. You are welcome to come join us if you would like. Send me a DM and I'll send you the time and address.
Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 483 posts · 177 votes
2w
Quote from @Jesus Sanchez:
Curious how other Phoenix-metro investors are underwriting right now, especially Surprise / West Valley vs Casa Grande / Pinal fringe.
What I’m seeing locally:
- List price still looks "cheap" vs California — until you bake in taxes, insurance, HOA (if any), and peak summer cooling.
- Submarkets diverge a lot on commute, CFD/impact fees, and tenant demand. Same metro label doesn't mean the same hold.
- Fall showings pick up; payment math still beats the listing photo.
Questions for the group:
1. Are you still filtering first for livable-now + rental-later, or pure BRRRR math?
2. For under ~$350–400k SFH, which Phoenix-metro pockets are still penciling for you after full carry?
3. Any insurance / utility surprises that changed a deal after you got under contract?
I’m a bilingual REALTOR® (REAL Broker) working with investors and relocators across Surprise, Casa Grande, and the West Valley. Happy to compare notes on specific zips — not pitching listings here.
Equal Housing Opportunity
@Jesus Sanchez, one thing I’ve seen with investors is that two properties with similar numbers can turn into very different deals once you get into the documents behind them.
Before I get too comfortable with the underwriting, I like to know what the HOA documents, deed restrictions, title, any special assessments, and the actual rental rules say. I've seen a property look fine from the rent and expense side, but one restriction or unexpected obligation changed the whole plan after the buyer was already under contract.
I’d be glad to stay connected, @Jesus Sanchez. I like that you’re looking at these areas separately instead of treating the whole Phoenix metro like one market. That same level of detail matters on the legal side too.
Property Manager · Chandler, AZ · Member since 2026 · 8 posts · 0 votes
1d
@Jesus Sanchez, I’m Brandon with Renters Choice Homes, serving Phoenix, the East Valley and Casa Grande. From the management side, I’d look beyond the monthly rent and mortgage payment. Even when tenants pay utilities, turnover can bring cooling costs, cleaning, repairs and lost rent together.
I’d compare similar homes within each area, check the HVAC’s condition, and run the numbers with a slower lease-up and one major repair included. A property that works only with immediate occupancy and no repairs leaves very little room for surprises.
Are you seeing the biggest difference between those areas in achievable rent, leasing time or repair needs?