Home Buying in Phoenix>Question Details

Mk, Home Buyer in Phoenix, AZ

Is Peoria, az a good place to purchase a rental investment? Also what about the area of Marley Park in Surprise? Which is better?

Asked by Mk, Phoenix, AZ Fri Jun 3, 2011

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Peoria has pockets that are very good and others that don't perform as well. This is true for most of the Valley cities.

In my experience, homes that are closer to freeways, ASU (Tempe) or ASU West (Glendale/North Phoenix); and in nice school districts are easier & faster to rent.

Marley Park is a very nice community. As I write this there are 19 houses for sale there ranging from as low as $140k to as high as $350k. I have shown 5 or 6 of them and I can tell you that there are a few good buys in the area.

Please let me know if you would like to see some of the houses in the area.

Have a nice weekend!
0 votes Thank Flag Link Fri Jun 3, 2011
Hi Mk, great question!

I'll assume by "good" you mean positive cash flow, low vacancy rate, and competitive purchase prices. From my experience, the closer you are to a large metro center like Phoenix, Tempe and Scottsdale the easier it is to find tenants. You will probably have a low vacancy rate if you are close to those areas, or close to a university (ASU).

My business partner lives in and sells real estate in Marley Park. There is a tremendous amount of demand for housing in Marley Park due to its unique design, focus on community and knowing your neighbors, and they have a fantastic HOA that organizes community events. DMB is the developer who also built DC Ranch in Scottsdale, Verrado in Buckeye and, of course, Marley Park in Surprise. However, the cost to buy a house in Marley Park will be higher.

As an example, my business partner just rented her 3,300 sf house in Marley Park for $2,000/mo. No pool, nothing fancy. The market value of the house is around $220k-$240k. The cost of entry to Marley Park is higher, but the rents are higher as well and the community is maintained to a very high standard. Try to locate your rental properties in areas where you can generate great cash flow and where you will also reap tremendous resale upside when the market starts appreciating. Marley Park has that potential.

If you are interested in Marley Park, drop me a line and I'll put you in touch with Daniella. She knows Marley like the back of her hand.
0 votes Thank Flag Link Fri Jun 3, 2011
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