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Newly Renovated Foreclosures with Tenants
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| Location: |
Phoenix, Arizona |
|
| Property Type: |
Single Family Homes |
| Market Value: |
$90,000 to $130,000 |
| Purchase Price: |
$75,000 to $100,000 |
| Estimated Equity: |
15% to 30% |
| Cash Flow: |
Varies ($100/mo +/-) |
| Capitalization Rate: |
6.0% and up |
| Return on Investment: |
190% and up |
| DealGrader™ Score: |
9.0 (out of 10) |
Contact Us For Available Inventory
Property Overview
- Refurbished foreclosures within the greater Phoenix market.
- Properties are less than 10 years old. Average is 6-years old.
- Most have pre-screened and managed 1-year lease tenants.
- 3 and 4 bedrooms, 2-3 baths, 2 car garages in desirable neighborhoods.
Housing Market
- Phoenix now ranked the 5th largest city in the United States.
- Single-family permits are expected to be up almost 38 percent in 2010 and another 41 percent in 2011. (Elliott
D. Pollack and Company)
- Home sales are flat in most areas and rising in others.
- The average sales price for a single family home in Phoenix is
$114,038 – a 59% decrease from the year before at $281,306. (Drop primarily due to foreclosures.)
- Housing is affordable
again.
- Excess inventory has created a great buying opportunity.
Economic Overview
- Low cost of doing business provides a
business friendly climate.
- Phoenix is currently home to seven Fortune 1000 companies.
- The federal government has granted new funds for Phoenix's light rail system.
- Strong historic growth trends and future population
projections.
Other Factors
- Warm climate all year long outside of summer.
- Highly educated population.
Contact Us For Available Inventory
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