Here are just a few examples:
Homes based on 3 bedroom 2 bath home 1.500 sq ft. Nothing fancy or expensive subdivision. These are average prices and rental income. Not bargains. Just average homes for sale.
1970â€™s Scottsdale home with ugly dated kitchen sells for $180K and up. Rental income $1,350. Anything over $1,350 rental income youâ€™re pushing it. People can afford to buy why rent. Donâ€™t go over $1,350. Thatâ€™s the magical number.
Gilbert/Chandler/N PHX: 95K-$125K. Rental income $1,000-$1,150 a month.
Mesa: 75K-100K. Rental income $900-$1,100
Glendale: Â½ of Glendale is nice. The other Â½ is bad news. The middle near 101 Cardinal Stadium would be considered average area. Letâ€™s go with this. $80K-110K rental income $950-$1,000
South Phoenix: Really bad dangerous. There are beautiful communities built here in the middle of ghettos. $60K-$80K. Rent income $700-$875.
There are other areas but just put a few examples.
All of these areas have good locations to buy/hold/rent. It depends on the sections of these City that you buy in. You will want to purchase a home where you can received the highest yield rate (highest rent and lowest purchase price in a good location). I don't know if you are a cash buyer but did you know that you can purchase real estate with your 401K or IRA? It's possible with a self directed IRA offered by a local company in Arizona. If you are interested, then please feel free to contact me.
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Sean Heideman, Realtor
E-Certified, SFR Certified
2929 North 44th Street, Suite 320
Phoenix, AZ 85018
My Profile: http://www.ziprealty.com/agent/sheideman
View My Blog: http://arizonarealestateupdates.blogspot.com
Professional Service With Integrity
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Is this one you want to someday consider living in or is it pure investment?
I always think this is somewhat personal, some investors are fine being slum lords and others want something nice, newer and sharp.
What is your flavor?
If you want slum lord I'm probably not your guy. If you want newer, nicer areas of suburbia living then lets talk.
Phoenix is very affordable and positive cash flow is being experienced.
I suggest strongly to connect with a local Phoenix Realtor who is not only familiar with the purchase prices
in the area but also with the rental market... and besides figuring out for how much you intend to purchase,
cash or with a loan..... have your realtor assist you in calculating if you come out even or with a profit at the
end of the year.....
Your reason for buying is also very important, may be you are thinking that you may want to retire in that area, but not NOW, and that you would like to purchase while the market is down and prices and interest rates are
low, and that makes of course a lot of sense, but you want to make sure you buy a property in an area that
is very much in demand for renting, you would like to live in later on or then sell for profit down the road,
so how many years down the road? So there are so many considerations before making this decision,
get the experienced help of a local Realtor, out of Phoenix is fine, they do know the surrounding cities as
well and can of course explore statistics on your behalf.
Good luck to you!
Edith YourRealtor4Life And Chicago&NorthernIllinois and North Shore Expert
Working always in the very BEST interest of her clients.....
Good luck with your search and let me know if you would need more specifics.
Keller Williams Integrity First
Depends what you mean my strong? Strong rents, strong renter base, strong longevity of renters?
ASU and Tempe is a very strong rental area in terms of demand, but short term renters as students move on. Less mature renter base. Sun City has retired base and longer term renters that take good care of the property. North Central Phoenix is close to freeway access.Dense population and families. Central Phoenix corridor along I17 has high rental demand because rents are low. People move on.
Rental demand overall is good thoughout the metro area. Rents are on the increase. The possible exceptions are the perimeter cities, although even thiese get there fair share of winter visitor renters.
Scottsdale and PV are always popular and the rents are higher than in west Phoenix.
To see all rental properties currently active on the MLS to see what rents are charges throughout the Phoenix metro: http://link.flexmls.com/ub8m3gk7wx9,12
Jeff Masich, Realtor
Arizona Homes and Land
The key to their success is they wrote a business plan and built a team to enact the plan. Location is important and only one part of the formula.
How much capital are you looking to invest? How much income are you hoping to realize? Are you looking for a property to improve or one with the improvement already in place?
The rental properties I have had listed in recent months have leased in 30 days or less. In fact, one had received an offer the day it hit the market. Investors have returned to the Phoenix area. They see value in the home prices and the potential to profit in the rental market.
Feel free to contact me with further details,
Feel free to contact me if you would like additional information.
Milly Sells AZ