3060 Grand Ave · Phoenix, AZ 85017

$799,900

None bd · None ba · 3,328 sqft · MultiFamily public records · 486 Days on market

Built 1946

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 14 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The industrial piece north of this parcel would make an interesting industrial assembladge.

Key facts

• 1425 parking spots
• Built 1946
• Listed 485 days

Property features AI

Finance

• Other: Directions: Grand to 31st Ave, property on SE corner.
• Financial info: Annual tax information available
• HOA & community: No pool

Exterior

• Parking: 1,425 total parking spaces; Open parking available; Parking listed as 1 space per unit
• Utilities: Electric service: APS; Public sewer; City-franchise water
• Construction: Painted, stucco, and block construction; Rolled/Hot Mop roof; Two buildings
• Exterior features: Painted stucco and block construction; Rolled/Hot Mop roof; Asphalt road access; Lot dimensions approximately 200 x 200 x 148 x 282; Two buildings on the property; Fee simple ownership

Interior

• Flooring: Vinyl; Concrete
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Vinyl and concrete flooring; Natural gas heating; No cooling system indicated

What this means for you Summary

Snapshot

• This is a 14 × 2-bed/?-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $9k ($108k/yr) — positive. Per door: $642/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $800k).
• Recommended offer: $704k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 3.3% in Phoenix — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#16 in AZ, #3,924 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime F.
• Phoenix Union High School District (4286) (urban): math 10% / reading 15% proficiency, ranked #224 of 249 in AZ (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Alhambra High School (math 8% / reading 17%, grade F, #281 of 381 statewide, top 75%, 2,282 students, 86% FRL).
• Market conditions: Rents soft (-0.3%/yr); 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $17,396/mo this rent would consume 358% of the median local household income ($58k/yr) (locally 1843% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $224k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 486 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $550k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $703,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 486 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.17% ✓
• Cap rate: 19.77%
• Cash-on-cash: 48.14%
• DSCR: 3.14
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 42.3%
• Equity multiple: 2.75×
• Total profit: $391,456
• Equity at exit: $119,268

10-year hold

• IRR: 47.1%
• Equity multiple: 4.93×
• Total profit: $879,880
• Equity at exit: $69,161

Cash invested: $223,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85017

• Home prices YoY: -14.4%
• Rents YoY: -0.3%
• Active inventory: 87
• Price-to-rent: 53.6×

Monthly cashflow live

• Estimated rent: $17,396 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$230 /mo · $2,756/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,653
• Net cashflow: $8,985

Break-even live

Break-even rent $6,022

Max offer price $799,900

Occupancy floor 43%

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	2	—	$17,402
Total (14 units)			$17,396

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $199,975
• Closing costs: $23,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2123 W Devonshire Ave Unit 3 Phoenix, AZ	2.0	1.0	2833	$795	$0.28	1d	1	1.32mi
2115 W Devonshire Ave Unit 4 Phoenix, AZ	2.0	1.0	2833	$995	$0.35	1d	1	1.34mi

Listing history 40 events

1. 2026-06-18
   days on market $799,900 Active 486 DOM
2. 2026-06-17
   days on market $799,900 Active 485 DOM
3. 2026-06-16
   days on market $799,900 Active 484 DOM
4. 2026-06-15
   days on market $799,900 Active 483 DOM
5. 2026-06-13
   days on market $799,900 Active 481 DOM
6. 2026-06-13
   pricedays on market $799,900 Active 480 DOM
7. 2026-06-09
   days on market $849,900 Active 477 DOM
8. 2026-06-08
   days on market $849,900 Active 476 DOM
9. 2026-06-07
   days on market $849,900 Active 475 DOM
10. 2026-06-04
    days on market $849,900 Active 472 DOM
11. 2026-06-03
    days on market $849,900 Active 471 DOM
12. 2026-06-02
    days on market $849,900 Active 470 DOM
13. 2026-06-01
    days on market $849,900 Active 469 DOM
14. 2026-05-31
    days on market $849,900 Active 468 DOM
15. 2026-05-06
    price $849,900
16. 2026-04-13
    status Active
17. 2026-04-02
    status Pending
18. 2026-03-10
    price $899,900
19. 2026-02-06
    price $924,900
20. 2026-01-15
    price $949,900
21. 2025-12-02
    status Active
22. 2025-12-02
    price $974,900
23. 2025-09-24
    price $999,900
24. 2025-09-02
    price $1,049,900
25. 2025-08-31
    status Active
26. 2025-08-11
    status Pending
27. 2025-08-11
    historical
28. 2025-05-08
    price $1,099,900
29. 2025-03-05
    price $1,175,000
30. 2025-01-24
    price $1,200,000
31. 2024-12-12
    price $1,250,000
32. 2024-12-07
    status Active
33. 2024-11-15
    status Pending
34. 2024-10-14
    price $1,295,000
35. 2024-09-23
    listed $1,350,000 Active
36. 2022-03-11
    price $995
37. 2021-05-17
    soldstatus $726,000 Closed 91-char remark

    Show marketing remark (91 chars)

    The industrial piece north of this parcel would make an interesting industrial assembladge.

38. 2021-05-17
    soldstatus $726,000

    Show marketing remark (91 chars)

    The industrial piece north of this parcel would make an interesting industrial assembladge.

39. 2021-04-30
    status Pending 91-char remark

    Show marketing remark (91 chars)

    The industrial piece north of this parcel would make an interesting industrial assembladge.

40. 2021-03-05
    listed $660,000 Active 91-char remark

    Show marketing remark (91 chars)

    The industrial piece north of this parcel would make an interesting industrial assembladge.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $2,756 · $230/mo
• Projected year-2 tax: $5,279 · $440/mo
• Expected delta: +$2,523/yr (+$210/mo · 91.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $208,752
• − Mortgage interest: −$44,807
• − Property taxes: −$2,756
• − Insurance: −$4,000
• − Repairs & maintenance: −$16,700
• − Management: −$16,700
• − Depreciation: −$23,270
• Taxable income: $100,519
• Est. tax owed @ 24.0%: −$24,125
• After-tax cash flow: $83,697/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Phoenix Union High School District (4286)
• NCES district ID: 0406330
• Math proficiency: 10% ▼ -27.00%
• Reading proficiency: 15% ▼ -18.00%
• Median HH income: $39,055
• Composite: 10.63/100
• National rank: #9773
• State rank: #224 of 249 in AZ

Livability — Phoenix

• Score: 75/100
• State rank: #16
• US rank: #3924

Category grades

Amenities A+ Commute A+ Cost of living B- Crime F Employment B- Housing A+ Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, AZ
• County: Maricopa County · 4,537,380 people
• City population: 1,500,198
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 46,129
• Household income: $58,346
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 1843.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 61% Two or more races 31% White 20% Black 10% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Iranian 1% Italian 1% Portuguese 1%
• Foreign-born: 31% · Canada, Philippines, Vietnam
• Languages at home: 40% English-only · Spanish 51% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.21%
• Current HPI: 471.0211
• Rent YoY: ▼ -0.33%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+28.8% since first listed

26 events — show timeline

• 2026-05-06 Price Changed $849,900 ARMLS
• 2026-04-13 Relisted — ARMLS
• 2026-04-02 Pending — ARMLS
• 2026-03-10 Price Changed $899,900 ARMLS
• 2026-02-06 Price Changed $924,900 ARMLS
• 2026-01-15 Price Changed $949,900 ARMLS
• 2025-12-02 Relisted — ARMLS
• 2025-12-02 Price Changed $974,900 ARMLS
• 2025-09-24 Price Changed $999,900 ARMLS
• 2025-09-02 Price Changed $1,049,900 ARMLS
• 2025-08-31 Relisted — ARMLS
• 2025-08-11 Pending — ARMLS
• 2025-08-11 Listing Removed — ARMLS
• 2025-05-08 Price Changed $1,099,900 ARMLS
• 2025-03-05 Price Changed $1,175,000 ARMLS
• 2025-01-24 Price Changed $1,200,000 ARMLS
• 2024-12-12 Price Changed $1,250,000 ARMLS
• 2024-12-07 Relisted — ARMLS
• 2024-11-15 Pending — ARMLS
• 2024-10-14 Price Changed $1,295,000 ARMLS
• 2024-09-23 Listed $1,350,000 ARMLS
• 2022-03-11 Price Changed $995 RENT.
• 2021-05-17 Sold (Public Records) $726,000 Public Records
• 2021-05-17 Sold (MLS) $726,000 ARMLS
• 2021-04-30 Pending — ARMLS
• 2021-03-05 Listed $660,000 ARMLS

Property tax history

+4.7%/yr

Latest (2025): $2,756 · +10.1% YoY. Source: county tax records.