$780,200
- 6 Beds
- 6 Baths
- 10,800 sqft
1927 E CROCUS Drive, Phoenix, AZ 85022
Est. Refi. Payment $4,478/mo*
Refinance Your HomeCurrently Off Market - Sold Sep 9, 2026 for $625,000 (10% below list price)
Home Value
Trulia Estimate
$780KSince 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
| Month | Estimated 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
-- mins to
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.
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
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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 |
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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 |
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Cumulative Days on Market: 106 |
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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 |
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Price List Price: $695,000Price Per Sqft: $58/sqft |
Status Change & Dates Off Market Date: Wed Aug 26 2026 |
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MLS Status: Closed |
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Direction & Address City: PhoenixCommunity: CAVE CREEK UNIT 3 |
School Information Elementary School District: Paradise Valley Unified DistrictHigh School District: Paradise Valley Unified District |
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Building Area Building Area: 10800 Square Feet |
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Community Features: No Pool |
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Listing Terms: Other (See Remarks), No Carry, Conventional |
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Business Information Ownership: Fee Simple |
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Owner Pays: None |
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Mls Number: 7060894 |
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No Pool |
Price and Tax history
| Date | Event | Price |
|---|---|---|
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 |
May 3, 2026 Source: ARMLS #6971140 | Pending | $850,000 |
Feb 21, 2026 Source: ARMLS #6971140 | PendingToActive | $850,000 |
Jan 20, 2026 Source: ARMLS #6971140 | Pending | $850,000 |
Jan 20, 2026 Source: ARMLS #6971140 | Listed For Sale | $850,000 |
Aug 26, 2024 Source: ARMLS #6686292 | ListingRemoved | $599,999 |
May 17, 2024 Source: ARMLS #6686292 | PriceChange | $599,999 Price decreased by 5% |
Apr 3, 2024 Source: ARMLS #6686292 | Listed For Sale | $630,000 |
Mar 24, 2021 Source: N/A | ListingRemoved | |
Jan 24, 2017 Source: N/A | Sold | $277,000 |
Sep 26, 2016 Source: N/A | ListingRemoved | $260,000 |
Sep 24, 2016 Source: N/A | Listed For Sale | $260,000 |
| Year | Property tax | Tax assessment |
|---|---|---|
| 2025 | $2,544 | $463,800 |
Home facts updated by county records
Market trends in Paradise Valley
Last updated August 2026
Avg. sale price
$617K
$28.17KMoM
Sale-to-List Price
98.2%
0.2%MoM
Price per sq ft
$336
$3MoM
Available listings
783
13MoM
Around this home
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.
LGBTQ Local Legal Protections
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.

