1927 E CROCUS Drive, Phoenix, AZ 85022
Property image
Property image
SOLD
SEP 9, 2026

$780,200

Trulia Estimate
  • 6 Beds
  • 6 Baths
  • 10,800 sqft

1927 E CROCUS Drive, Phoenix, AZ 85022

Paradise Valley
Est. Refi. Payment $4,478/mo*
Refinance Your Home
Currently Off Market - Sold Sep 9, 2026 for $625,000 (10% below list price)

Home Value

Trulia Estimate
$780K
Since last month
Increased$2K (+0.3%)
Since last year
Increased$221K (+39.5%)
Since last sale
Increased$154K (+24.7%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +140% in the last 10 years
MonthEstimated value
2026
September 2026$779K
August 2026$780K
July 2026$777K
June 2026$775K
May 2026$802K
April 2026$800K
March 2026$808K
February 2026$815K
January 2026$844K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
0.75
Multi-Family Home
$610,000
12/16/25
7
6
2,271
1.44
Multi-Family Home
$615,000
12/01/25
8
8
3,600
1.55
Multi-Family Home
$530,000
11/14/25
8
2
3,628
1.65
Multi-Family Home
$315,000
05/08/26
8
5
3,614
1.57
Multi-Family Home
$530,000
11/14/25
8
2
3,628
1.89
Multi-Family Home
$670,000
01/09/26
6
4
2,632
1.80
Multi-Family Home
$900,000
01/14/26
8
3
4,400
1.44
Multi-Family Home
$380,000
03/19/26
2
2
1,358
1.27
Multi-Family Home
$320,000
07/30/26
2
1
824

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
0.03
$661,900
5
3
2,222
Off Market
0.03
$525,600
4
3
2,019
Off Market
0.05
$498,100
4
2
1,750
Off Market
0.06
$557,800
3
2
1,650
Off Market
0.03
$547,100
4
3
2,003
Off Market
0.07
$491,500
4
2.5
2,019
Recently Sold
0.09
$508,500
3
2
1,650
Off Market
0.07
$546,800
5
3
2,139
Off Market
0.13
$485,000
4
2
1,750
Recently Sold
0.12
$568,200
5
3
2,222
Off Market
0.11
$585,000
3
2
1,851
Recently Sold

Local Information

  • Map ViewExplore the area around 1927 E CROCUS Drive.
  • Schools1 Preschool School2 Elementary Schools2 Middle Schools1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Multi-Family
Built in 1986
10,800 sqft
$58/sqft
Attached Garage

About this House

9.74% Day-One Cap Rate--Exceptional Yield for a Single-Family Investment
Absolute NNN Lease Structure--Tenant Reimburses Property Taxes and Insurance
Contractual Annual Rent Increases Throughout the Initial Five-Year Lease Term
Projected Cap Rate Increases to Approximately 10.43% by Year Five
Newly Executed Lease Provides Contractual Rental Income Through December 2030
Tenant's Lease Obligations Are Supported by a Personal Guarantee
More Than $40,000 in Recent Renovations and Capital Improvements
Predictable Rental Income Backed by Phoenix Residential Real Estate
Built-In Income Growth Without Renovation, Repositioning, or Intensive Management
Rare Combination of a Double-Digit Forward Cap Rate and Residential Real Estate ABSOLUTE NNN SINGLE-TENANT INVESTMENT
5-Year Lease | Built-In Rental Growth | 9.74% Year 1 Cap Rate

POSITIONING
Bond-Like Income Secured by Real Estate
Absolute Triple NNN lease structure

Newly executed 5-year lease commencing January 1, 2026

Personal guarantee

Two additional 5-year renewal options

Monthly base rent increases by $100 each year

Tenant's first right of refusal

ASKING PRICE: $695,000
EXECUTIVE SUMMARY
Gerchick Real Estate is pleased to present a fully stabilized, single-tenant Absolute NNN investment secured by a newly executed 5-year lease.

In addition to base rent, the tenant reimburses the landlord for property taxes and insurance, creating a predictable and largely passive income stream.

This investment offers:

Immediate cash flow

Contractual annual rent growth

Minimal landlord responsibility

Personal guarantee

Long-term renewal potential

Strong initial and forward yields

The property's value is driven by its contractual income stream. This is not an owner-occupant comparable-sale opportunity--it is a yield-focused real estate acquisition.

FINANCIAL OVERVIEW
Year 1 Income
Base Rent: $5,200 per month
NNN Reimbursements: $440.25 per month
Total Monthly Income: $5,640.25

Total Annual Income: $67,683

Year 1 Cap Rate
Purchase Price: $695,000

$67,683 รท $695,000 = 9.74%

YEAR 1 CAP RATE: 9.74%
FORWARD YIELD GROWTH
Lease Year Annual Income Yield on Original Purchase Price
Year 1 $67,683 9.74%
Year 2 $68,883 9.91%
Year 3 $70,083 10.08%
Year 4 $71,283 10.26%
Year 5 $72,483 10.43%
By Year 5, the annual yield increases to approximately 10.43% based on the original $695,000 purchase price.

FIVE-YEAR CASH-FLOW PROJECTION
Assuming an all-cash purchase at $695,000:

Lease Year Projected Gross Income
Year 1 $67,683
Year 2 $68,883
Year 3 $70,083
Year 4 $71,283
Year 5 $72,483
Total $350,415
TOTAL PROJECTED FIVE-YEAR GROSS INCOME: $350,415
The projected five-year gross income equals approximately 50.42% of the purchase price, providing investors with the potential to recover more than half of the original acquisition cost through gross income during the initial lease term alone.

LEASE ABSTRACT
Lease commencement: January 1, 2026

Initial lease term: 5 years

Renewal options: Two additional 5-year terms

Base-rent increases: $100 per month annually

Guarantee: Personal guarantee

First right of refusal: Provided to tenant

Property taxes: Reimbursed by tenant

Property insurance: Reimbursed by tenant

Lease structure: Absolute NNN

INVESTMENT THESIS
Why This Asset Performs
Attractive 9.74% initial cap rate

Contractual annual rent increases

Forward yield exceeding 10% beginning in Year 3

Personal guarantee helps reduce investment risk

Minimal ongoing management burden

Annual increases provide a hedge against inflation

Strong Phoenix location

Potential for future cap-rate compression

Contractual income secured by underlying real estate

Two additional 5-year renewal options

This structure may appeal to private investors, 1031 exchange buyers, family offices, and yield-focused purchasers seeking stable real estate income without the management demands of a traditional residential rental.

BUYER REQUIREMENTS
The Seller recognizes that traditional residential appraisal methodology may not fully reflect the value of the property's contractual income stream.

All offers must:

Be submitted as an all-cash purchase; or

Waive the appraisal contingency; and

Include acceptable proof of funds

This is an income-driven acquisition.
DISCLAIMER
All information contained herein has been obtained from sources deemed reliable but is not guaranteed. Buyer shall independently verify all information, including but not limited to lease terms, rental income, reimbursements, expenses, property condition, zoning, square footage, and all other material facts.
1927 E CROCUS Drive, Phoenix, AZ 85022 is a 6 bedroom, 6 bathroom, 10,800 sqft multi-family in Paradise Valley, built in 1986. It last sold for $625,000 on Sep 9, 2026 (10% below the $695,000 asking price). This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $780,200.
Last check for updates: about 8 hours ago
Listed by Linda S Gerchick, (602) 688-9279
Gerchick Real Estate
Bought with: Linda S Gerchick, (602) 688-9279, Gerchick Real Estate
Source: ARMLS, MLS#7060894
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

Home Details for 1927 E CROCUS Drive

Interior Features

Beds & Baths
Number of Bedrooms: 6Number of Bathrooms: 6
Dimensions and Layout
Living Area: 10800 Square Feet
Appliances & Utilities
Appliances: Free-Standing Range, Disposal, Dishwasher, Refrigerator, MicrowaveDishwasherDisposalLaundry: W/D HookupMicrowaveRefrigerator
Heating & Cooling
Heating: Individual,Heat PumpHas CoolingAir Conditioning: Ceiling Fan(s),Heat Pump,IndividualHas HeatingHeating Fuel: Individual
Gas & Electric
Electric: APS, Individual MeterHas Electric on Property
Windows, Doors, Floors & Walls
Flooring: Laminate, Ceramic Tile, Vinyl
Levels, Entrance, & Accessibility
Floors: Laminate, Ceramic Tile, Vinyl
Security
Security: Security Lights, Fire Sprinkler System

Exterior Features

Exterior Home Features
Roof: TileExterior: Sidewalk(s)
Parking & Garage
Open Parking Spaces: 3No CarportHas a GarageHas an Attached GarageHas Open ParkingParking Spaces: 3Parking: Attached,Paved,Free,Garage Door Opener,>1 Space Per Unit,On Street
Frontage
Road Surface Type: AsphaltNot on Waterfront
Water & Sewer
Sewer: Public Sewer

Days on Market

Cumulative Days on Market: 106

Property Information

Year Built
Year Built: 1986
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family
Building
Construction Materials: Wood Frame, Painted, Stucco, Block
Property Information
Parcel Number: 21450196

Price & Status

Price
List Price: $695,000Price Per Sqft: $58/sqft
Status Change & Dates
Off Market Date: Wed Aug 26 2026

Active Status

MLS Status: Closed

Location

Direction & Address
City: PhoenixCommunity: CAVE CREEK UNIT 3
School Information
Elementary School District: Paradise Valley Unified DistrictHigh School District: Paradise Valley Unified District

Building

Building Area
Building Area: 10800 Square Feet

Community

Community Features: No Pool

Offer

Listing Terms: Other (See Remarks), No Carry, Conventional

Business

Business Information
Ownership: Fee Simple

Rental Terms, Policies & Fees

Owner Pays: None

Miscellaneous

Mls Number: 7060894

Additional Information

No Pool

Price and Tax history

DateEventPrice
Sep 9, 2026
Source: ARMLS #7060894
Sold
$625,000
Aug 27, 2026
Source: ARMLS #7060894
Pending
$695,000
Jul 31, 2026
Source: ARMLS #7060894
Listed For Sale
$695,000
Jun 18, 2026
Source: ARMLS #6971140
ListingRemoved
$850,000
Jun 12, 2026
Source: ARMLS #6971140
PendingToActive
$850,000

Market trends in Paradise Valley

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$617K
$28.17K
MoM
Sale-to-List Price
98.2%
0.2%
MoM
Price per sq ft
$336
$3
MoM
Available listings
783
13
MoM

Around this home

The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

Neighborhood Overview

Neighborhood stats provided by third party data sources.

What Locals Say about Paradise Valley

At least 1037 Trulia users voted on each feature.
  • 90 % Say it's dog friendly

  • 89 % Say there are sidewalks

  • 86 % Say parking is easy

  • 85 % Say car is needed

  • 77 % Say yards are well-kept

  • 73 % Say there's holiday spirit

  • 71 % Say people would walk alone at night

  • 70 % Say streets are well-lit

  • 70 % Say it's quiet

  • 60 % Say kids play outside

  • 58 % Say it's walkable to grocery stores

  • 57 % Say they plan to stay for at least 5 years

  • 55 % Say it's walkable to restaurants

  • 51 % Say neighbors are friendly

  • 42 % Say there's wildlife

  • 23 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Iamme4eternity
    "Traffic is minimal. I have really enjoyed Arizona. Coming from California it was a surprisingly pleasant change. "
  • Pepsigala49
    "Hi this is a beautiful house in a nice neighborhood where you can walk your dog at night am Iโ€™m very interested, I currently live out of state planning on moving back to my home state and the Cardinal "
  • Chelsea Skinner
    "HOA is absurd canโ€™t have any gazebos covered patio furniture nor festive lights or decorations as well as extended awning that was here when we moved in"
  • 584qq9cqpr
    "28 min to downtown easy access to 101 & 51 freeways, close to desert ridge shopping center Mayo Clinic"
  • Trulia User
    "Itโ€™s a fun, nice place to be everyoneโ€™s real friendly canโ€™t really go wrong with this area. Thereโ€™s lots of amenities thatโ€™s a Shopping "
  • Trulia User
    "Winter home. Safe, well maintained and friendly people. Really nice area Great restaurants and shopping close by. "
  • Trulia User
    "Neighborly feeling can be found in the uniqueness of each house on the street. Dynamic landscaping mixed with an โ€œat homeโ€ feel makes for an oasis."
  • Trulia User
    "It definitely depends on how close you are to the low income end of the neighborhood to be able to feel safe for your kids to play. "
  • Trulia User
    "People are friendly. You often see them walking their dogs ๐Ÿ•. A quiet neighborhood with shopping center around, lots of stores, fast-food and more. "
  • Trulia User
    "Nestled between Phoenix and Scottsdale, both cities sort of surround Paradise Valley. Still has individual homes with different size properties versus the pop up communities that all look exactly the same as every other neighbor in said community. "
  • Trulia User
    "Itโ€™s a great neighborhood with nice neighbors. Itโ€™s quieting terms of traffic and noise but has room for the kids to play and ride their bikes. Great schools and close to everything. Close to grocery stores the shopping mall , restaurants and all the places that families like to go. "
  • Trulia User
    "barbeque afternoons, movie nights, pool events, attractions events barbeque afternoons, movie nights, pool events, attractions events "
  • Trulia User
    "Good parks and safety. Nearby grocery stores , friendly people around , Not much noisy community, community are safe to live and mostly gated . Children often come to park and playing area to play there. "
  • Trulia User
    "Welcoming and friendly .. they allow our children to pet their dogs and play with them.. good neighborhood "
  • Trulia User
    "my best friend of 10 years has always lived there so I'm very familiar with the area her kids school is also amazing!!"
  • Trulia User
    "great parks great schools close to church love the location close to shopping and restaurants love the neighborhood "
  • Trulia User
    "Great Community flare. Very cozy feel throughout the year. Always bright & cheery. Sun shining and people out and about!!!"
  • Trulia User
    "Itโ€™s safe and beautiful to live here. For families or any community. Thank ye weather and the pools great all year. "
  • Trulia User
    "Itโ€™s beautiful and safe living in North Scottsdale. You can find anything here and yet itโ€™s everything very quite. A lot of hiking trails around. "
  • Trulia User
    "Good schools, safe community, many parks, friendly neighbors. Traffic is not bad, but much faster than the posted speed limits. "
  • Trulia User
    "There is a Dog park at PV park at 40th St & Bell. This area has some small city parks with shade trees and grass. "
  • Trulia User
    "Well maintained. Friendly. Views. Proximity to schools. Near highway access. Park for kids and adults. "
  • Trulia User
    "it's quiet and there's rarely any dangerous activity happening and you can walk outside without having to look over your shoulder "
  • Trulia User
    "I am no more than 40 minutes away from anything in the area. twenty minutes to work, walking distance to shops and restaurants. "
  • Trulia User
    "the active park down the street and convenience of of major highways in Central Phoenix. great schools "
  • Trulia User
    "Many dog owners!! Always out walking their dogs & lizards. Not many snakes in the area. If there are they are friendly. "
  • Trulia User
    "there are some dog owners who unleash thier large and poorly behaved dogs. most dog walkers pick up after thier pets"
  • Trulia User
    "Our commute centers on Elementary School and the time of day ~ 15 to 30min depending on traffic. Local drives average 10-15min."
  • Trulia User
    "no events in this neighborhood at this time. community center used to gold events but plenty of churches in the area with events."
  • Trulia User
    "commute is easy and not a lot of traffic. I feel people drive properly and follow traffic laws and speed limits "
  • Trulia User
    "I live in a 55+ gated community which we call a village. Everyone watches out for one another. We have all kinds of clubs and activities. Covid brought everything to a halt but now we are starting to socialize again. I love the stores and shopping close by also. "
  • Trulia User
    "close to park and fwy ,shopping and work, great restaurants, easy to get to Kierland ,fashion Square, and 3 Costcos! Neighborhood is great community "
  • Trulia User
    "easy access to all areas of the valley with access to 51 and the 101. very convenient to move about the Valley without much thought "
  • Trulia User
    "This is a great dog walking community. There are plenty of trash bins for waste disposal and a lot of walking paths and park area to run dogs. "
  • Trulia User
    "There are no community events that happen in this neighborhood. That would be nice if there was. My "
  • Trulia User
    "Just lots of places to walk your pets on safe quiet streets. Lots of trails too. Plenty of parks as well."
  • Samir L.
    "People for the most part pick up after their dogs. And there is the greenbelt next to the freeway that's very nice. "
  • Karissa S.
    "We join my sister in law on walks with her dogs and they absolutely love it! Everyoneโ€™s dogs are behaved and on leases. People respect one another "
  • Cheryl G.
    "Nice neighbors that are respectful of others and their property. Dog owners pick up after their pets. No trashy music being played throughout the day and night if you work from home. As i work from home that is a deal breaker for me."
  • Karissa S.
    "The mall has a carnival every so often. But I have never been. Other than that I havenโ€™t seen any other community events in my neighborhood. "

LGBTQ Local Legal Protections

Frequently asked questions about 1927 E CROCUS Drive

  • What is 1927 E CROCUS Drive estimated to be worth?
    Trulia's estimated value for 1927 E CROCUS Drive in Phoenix, AZ is $780,200.
  • What is the price history for 1927 E CROCUS Drive?
    1927 E CROCUS Drive in Phoenix, AZ last sold for $625,000 in September 2026.
  • Is Phoenix a buyer's or seller's market?
    Phoenix is currently a seller's market, based on recent for-sale activity.
  • What's the median sale price in Phoenix?
    The median sale price in Phoenix is $617K. That is up $28.17K from the prior month.
  • Does 1927 E CROCUS Drive have air conditioning?
    Yes, 1927 E CROCUS Drive in Phoenix, AZ has air conditioning.
  • Does 1927 E CROCUS Drive have laundry facilities?
    Yes, 1927 E CROCUS Drive in Phoenix, AZ has laundry facilities.

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