1927 E CROCUS Drive
Phoenix, AZ 85022
Paradise Valley
6 Beds
6 Baths
10,800 sqft
6 Beds
6 Baths
10,800 sqft
Home Highlights
Parking
Attached Garage
Climate Control
Heating & Cooling
Price/Sqft
$64
Listed
81 days ago
Local Information
- Map ViewExplore the area around 1927 E CROCUS Drive.
- Schools1 Preschool School2 Elementary Schools2 Middle Schools1 High School
- Shop & Eat
-- mins to
About this House
* **9.74% Day-One Cap Rate -- Exceptional Yield in a Single-Family Asset**
* **Absolute NNN Structure -- Tenant Reimburses Property Taxes and Insurance**
* **Contractual Rental Growth Built Into the Initial 5-Year Lease Term**
* **Forward Yield Increases to Approximately 10.43% by Year 5**
* **Newly Executed Lease Provides Contractual Income Through 2030**
* **Personal Guarantee Supports the Tenant's Lease Obligations**
* **More Than $40,000 in Recent Renovations and Capital Improvements**
* **Predictable Income Stream Secured by Phoenix Real Estate**
* **Built-In Upside Without Renovation, Repositioning, or Intensive Management**
* **Rare Combination of Double-Digit Forward Yield 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 ÷ $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 Structure -- Tenant Reimburses Property Taxes and Insurance**
* **Contractual Rental Growth Built Into the Initial 5-Year Lease Term**
* **Forward Yield Increases to Approximately 10.43% by Year 5**
* **Newly Executed Lease Provides Contractual Income Through 2030**
* **Personal Guarantee Supports the Tenant's Lease Obligations**
* **More Than $40,000 in Recent Renovations and Capital Improvements**
* **Predictable Income Stream Secured by Phoenix Real Estate**
* **Built-In Upside Without Renovation, Repositioning, or Intensive Management**
* **Rare Combination of Double-Digit Forward Yield 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 ÷ $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.
Home Details for 1927 E CROCUS Drive
|
|---|
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: Ceramic Tile |
Levels, Entrance, & Accessibility Floors: Ceramic Tile |
Security Security: Security Lights, Fire Sprinkler System |
|
|---|
Exterior Home Features Roof: TileExterior: Sidewalk(s) |
Parking & Garage Open Parking Spaces: 2No CarportHas a GarageHas an Attached GarageHas Open ParkingParking Spaces: 2Parking: Attached,Paved,Free,Garage Door Opener,>1 Space Per Unit,On Street |
Frontage Road Surface Type: AsphaltNot on Waterfront |
Water & Sewer Sewer: Public Sewer |
|
|---|
Cumulative Days on Market: 80Days on Market: 81 |
|
|---|
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 List Price: $695,000Price Per Sqft: $64 |
|
|---|
MLS Status: Active |
|
|---|
|
|---|
Direction & Address City: PhoenixCommunity: CAVE CREEK UNIT 3 |
School Information Elementary School District: Paradise Valley Unified DistrictHigh School District: Paradise Valley Unified District |
|
|---|
Listing Agent Listing ID: 7060894 |
|
|---|
Building Area Building Area: 10800 Square Feet |
|
|---|
Community Features: No Pool |
|
|---|
Listing Terms: Other (See Remarks), No Carry, Conventional |
|
|---|
Business Information Ownership: Fee Simple |
|
|---|
Owner Pays: None |
|
|---|
Mls Number: 7060894 |
|
|---|
No Pool |
Last check for updates: 38 minutes ago
Listing courtesy of Linda S Gerchick, (602) 688-9279
Gerchick Real Estate
Source: ARMLS, MLS#7060894
Also Listed on ARMLS.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Market trends in Paradise Valley
Last updated June 2026
Avg. sale price
$583K
$3.33KMoM
Sale-to-List Price
98.5%
0.1%MoM
Price per sq ft
$336
$5MoM
Available listings
862
17MoM
Price History for 1927 E CROCUS Drive
| Date | Price | Event | Source |
|---|---|---|---|
| 07/31/2026 | $695,000 | Listed For Sale | ARMLS #7060894 |
| 06/18/2026 | $850,000 | ListingRemoved | ARMLS #6971140 |
| 06/12/2026 | $850,000 | PendingToActive | ARMLS #6971140 |
| 05/03/2026 | $850,000 | Pending | ARMLS #6971140 |
| 02/21/2026 | $850,000 | PendingToActive | ARMLS #6971140 |
| 01/20/2026 | $850,000 | Pending | ARMLS #6971140 |
| 01/20/2026 | $850,000 | Listed For Sale | ARMLS #6971140 |
| 08/26/2024 | $599,999 | ListingRemoved | ARMLS #6686292 |
| 05/17/2024 | $599,999 | PriceChange | ARMLS #6686292 |
| 04/03/2024 | $630,000 | Listed For Sale | ARMLS #6686292 |
| 03/24/2021 | ListingRemoved | N/A | |
| 01/24/2017 | $277,000 | Sold | N/A |
| 09/26/2016 | $260,000 | ListingRemoved | N/A |
| 09/24/2016 | $260,000 | Listed For Sale | N/A |
Similar Homes You May Like
0.26 ACRESRE/MAX Desert Showcase, ARMLS
See more homes for sale inPhoenix
New Listings near 1927 E CROCUS Drive
NEWOPEN SAT, 9-12PMMy Home Group Real Estate, ARMLS
NEW - 2 DAYS AGO0.43 ACRESFathom Realty Elite, ARMLS
NEWOPEN SAT, 10-1PMCaballero Realty, ARMLS
NEW - 2 DAYS AGOeXp Realty, ARMLS
NEWOPEN SAT, 10-1PMReal Broker, ARMLS
NEW - 17 HRS AGOHomeSmart, ARMLS
NEW - 19 HRS AGOReal Broker, ARMLS- See more homes for sale inPhoenix
Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $2,544 |
| Assessment | $463,800 |
Home facts updated by county records
Comparable Sales for 1927 E CROCUS Drive
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 | |
1.65 | Multi-Family Home | $315,000 | 05/08/26 | 8 | 5 | 3,614 | |
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 | |
1.57 | Multi-Family Home | $530,000 | 11/14/25 | 8 | 2 | 3,628 | |
1.42 | Multi-Family Home | $297,000 | 06/30/26 | 2 | 2 | 1,056 | |
1.27 | Multi-Family Home | $320,000 | 07/30/26 | 2 | 1 | 824 | |
1.44 | Multi-Family Home | $380,000 | 03/19/26 | 2 | 2 | 1,358 | |
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 |
Nearby homes
Get a sense of prices in the area by checking nearby homes.
OFF MARKETRealty Executives, ARMLS
OFF MARKETMy Home Group Real Estate, ARMLS
OFF MARKETMy Home Group Real Estate, ARMLS
SOLDDEC 1, 2025Opendoor Brokerage, LLC, ARMLS
OFF MARKETAmerican Realty Brokers, ARMLS
OFF MARKETAZ Brokerage Holdings, LLC, ARMLS
Assigned Schools
These are the assigned schools for 1927 E CROCUS Drive.
- Shadow Mountain High School
- 7-12
- Public
- 1080 Students
9/10GreatSchools RatingParent Rating AverageShadow Mountain High School is truly a hidden gem! It offers all the programs, classes, and sports you’d expect from a large school, but still manages to keep a welcoming, tight-knit community atmosphere. The teachers and staff are incredibly dedicated—always going above and beyond to support students, whether it’s helping with academics, encouraging creativity, or guiding them toward their future goals.The sports programs are another highlight of Shadow Mountain. From football and basketball to track, cheer, and beyond, there’s always something exciting happening. Games are full of energy and school spirit, and students really rally together to support their teams. The balance of strong academics, supportive staff, and fun, engaging athletics makes Shadow Mountain a fantastic place for students to learn, grow, and thrive.Parent Review10mo ago - Shea Middle School
- 5-8
- Public
- 476 Students
4/10GreatSchools RatingParent Rating AverageHighly Recommend this school great teachers and staffParent Review6mo ago - Hidden Hills Elementary School
- PK-6
- Public
- 258 Students
7/10GreatSchools RatingParent Rating Averagedo not recommend this school. The office is extremely disorganized, staff lacked professionalism, and there was very little focus on the actual students. There were repeated issues with confidentiality, communication, and failure to follow proper procedures or court paperwork.Despite both households specifically informing the school that information was not to be shared between us, the nurse repeatedly called me regarding my stepdaughter’s siblings on their mother’s side and would share information from conversations she had with their mom. This created unnecessary conflict and showed a complete lack of respect for privacy and confidentiality.The school also failed to properly verify identities during pickup. Staff repeatedly attempted to have me pick up children I was not authorized to pick up, even after being clearly told multiple times that I was not on their emergency contact list and was not to handle pickups for that side of the family. There were also concerns about court-ordered paperwork not being followed correctly.The office staff seemed unfamiliar with both district policies and basic state education and court-related procedures. Communication was inconsistent, staff were often rude, and there was little accountability when concerns were brought up. After dealing with ongoing issues and lack of professionalism, we ultimately decided to pull our children from this school.Parent Review2mo ago 
Check out schools near 1927 E CROCUS Drive.
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.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Linda S Gerchick, Gerchick Real Estate
Agent Phone: (602) 688-9279
1927 E CROCUS Drive, Phoenix, AZ 85022 is a 6 bedroom, 6 bathroom, 10,800 sqft multi-family built in 1986. 1927 E CROCUS Drive is located in Paradise Valley, Phoenix. This property is currently available for sale and was listed by ARMLS on Jul 31, 2026. The MLS # for this home is MLS# 7060894.