7148 N 48th Ave · Glendale, AZ 85301

$245,280

5 bd · 2.0 ba · 1,420 sqft · SingleFamily public records · 101 Days on market

Built 1948 6,224 sqft lot Est $358k · 31% under

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Why this score? — see what drove the C- 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated home from a 2 bedroom to a 5 bedroom. Buyer to verify room measurements.

Key facts

• Easy freeway access
• Top rated schools
• Outdoor oasis

Tags

• HOME OFFICE
• OUTDOOR OASIS
• TOP RATED SCHOOLS
• EASY FREEWAY ACCESS

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (14.1% below list).
• Recommended offer: $211k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.5% in Glendale — 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 76/100 on livability (#12 in AZ, #3,235 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, amenities B; Watch: health & safety D+, crime F.
• Glendale Union High School District (4285) (urban): math 23% / reading 31% proficiency, ranked #130 of 249 in AZ (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Apollo High School (math 26% / reading 30%, grade F, #136 of 381 statewide, top 36%, 2,198 students, 57% FRL).
• Market conditions: Rents soft (-3.0%/yr); 220 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $2,107/mo this rent would consume 47% of the median local household income ($54k/yr) (locally 3741% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y ago; this cycle's ask has dropped $47k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,703 (14.1% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $357,840
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7148 N 48th Ave	0.00mi	5/2.0	1,420 (0%)	1mo	$240,000	$169	100
4720 W Northview Ave	0.19mi	4/2.0 (-1)	1,448 (+2%)	12mo	$419,000	$289	73
4938 W Mclellan Rd	0.59mi	5/2.0	1,458 (+3%)	1mo	$370,000	$254	67
4717 W Nicolet Ave	0.14mi	5/4.0	1,319 (-7%)	21mo	$562,000	$426	56
4913 W Maryland Ave	0.71mi	4/2.0 (-1)	1,425 (+0%)	10mo	$330,000	$232	53
5301 W State Ave	0.63mi	4/2.0 (-1)	1,530 (+8%)	0mo	$385,000	$252	52
5031 W Flynn Ln	0.41mi	4/1.0 (-1)	1,304 (-8%)	15mo	$322,000	$247	46
4447 W Morten Ave	0.59mi	4/2.0 (-1)	1,319 (-7%)	21mo	$390,000	$296	39
4349 W Morten Ave	0.67mi	4/2.0 (-1)	1,600 (+13%)	13mo	$369,995	$231	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.46×
• Total profit: $-36,770
• Equity at exit: $36,572

10-year hold

• IRR: -12.5%
• Equity multiple: 0.35×
• Total profit: $-44,311
• Equity at exit: $21,207

Cash invested: $68,678 (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 85301

• Home prices YoY: -10.6%
• Rents YoY: -3.0%
• Active inventory: 220
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,107 high
• Mortgage (P&I): −$1,286
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $145

Break-even live

Break-even rent $1,924

Max offer price $245,280

Occupancy floor 88%

Sensitivity live

Price	-10% $284	-5% $214	+0% $145	+5% $75	+10% $6
Rent	-10% $-22	-5% $62	+0% $145	+5% $228	+10% $311
Rate	-1.0pp $268	-0.5pp $207	base $145	+0.5pp $81	+1.0pp $17

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: $61,320
• Closing costs: $7,358
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5037 W Krall St Glendale, AZ	4.0	2.0	1449	$2,026	$1.40	6d	1	0.54mi
6734 N 43rd Ave Glendale, AZ	4.0	2.0	1576	$2,700	$1.71	4d	1	0.74mi
7854 N 47th Ave Glendale, AZ	4.0	2.5	1656	$1,800	$1.09	0d	1	0.78mi
7776 N 55th Dr Glendale, AZ	4.0	2.0	1842	$2,200	$1.19	0d	1	1.08mi
4032 W Stella Ln Phoenix, AZ	4.0	2.0	1526	$2,200	$1.44	0d	1	1.21mi
3724 W Gardenia Ave Phoenix, AZ	4.0	2.0	1536	$2,795	$1.82	0d	1	1.36mi
8037 N 40th Ave Phoenix, AZ	4.0	2.0	1595	$2,200	$1.38	13d	1	1.38mi
3627 W Northview Ave Phoenix, AZ	5.0	2.0	1844	$1,895	$1.03	0d	1	1.49mi
4303 W Solano Dr N Glendale, AZ	4.0	2.5	1700	$1,795	$1.06	3d	1	1.49mi
3816 W Northern Ave Phoenix, AZ	4.0	2.0	1600	$1,796	$1.12	3d	1	1.49mi

Listing history 34 events

1. 2026-05-20
   status Pending
2. 2026-05-19
   soldstatus Closed
3. 2026-04-21
   status Pending
4. 2026-04-17
   soldstatus Closed
5. 2026-02-27
   status Pending
6. 2026-02-24
   status Active
7. 2026-01-28
   status Pending
8. 2026-01-13
   price $245,280
9. 2025-12-14
   price $268,640
10. 2025-12-10
    status Active
11. 2025-11-20
    status Active
12. 2025-10-10
    status Pending
13. 2025-10-10
    historical
14. 2025-10-09
    historical
15. 2025-08-21
    listed $292,000 Active
16. 2022-06-02
    soldstatus $295,000
17. 2013-04-22
    soldstatus $45,000 Closed 82-char remark

    Show marketing remark (82 chars)

    Renovated home from a 2 bedroom to a 5 bedroom. Buyer to verify room measurements.

18. 2013-04-18
    soldstatus $45,000
19. 2013-04-05
    historical 82-char remark

    Show marketing remark (82 chars)

    Renovated home from a 2 bedroom to a 5 bedroom. Buyer to verify room measurements.

20. 2013-04-05
    listed $45,000 82-char remark

    Show marketing remark (82 chars)

    Renovated home from a 2 bedroom to a 5 bedroom. Buyer to verify room measurements.

21. 2010-02-04
    historical
22. 2010-01-22
    listed $112,000
23. 2009-11-30
    historical
24. 2009-06-30
    listed $122,900
25. 2008-12-31
    historical
26. 2008-03-06
    listed $165,000
27. 2006-12-21
    historical
28. 2006-10-29
    listed $149,900
29. 2006-10-11
    historical
30. 2006-09-15
    listed $157,900
31. 2006-02-06
    soldstatus $119,900
32. 2005-11-30
    soldstatus $120,000
33. 2005-11-01
    historical
34. 2005-09-03
    listed $129,900

ⓘ 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: $1,575 · $131/mo
• Projected year-2 tax: $1,619 · $135/mo
• Expected delta: +$44/yr (+$4/mo · 2.8%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,284
• − Mortgage interest: −$13,739
• − Property taxes: −$1,575
• − Insurance: −$1,226
• − Repairs & maintenance: −$2,023
• − Management: −$2,023
• − Depreciation: −$7,135
• Taxable loss: −$2,437
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $2,323/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: Glendale Union High School District (4285)
• NCES district ID: 0403450
• Math proficiency: 23% ▼ -38.00%
• Reading proficiency: 31% ▼ -19.00%
• Median HH income: $40,846
• Composite: 22.81/100
• National rank: #8020
• State rank: #130 of 249 in AZ

Livability — Glendale

• Score: 76/100
• State rank: #12
• US rank: #3235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 294,586
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 68,178
• Household income: $53,827
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 3741.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 37% White 22% Black 8% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 57% Cuban 1%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 26% · Canada, Vietnam, Philippines
• Languages at home: 46% English-only · Spanish 48% Arabic 1% 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: ▼ -50.49%
• Current HPI: 427.3069
• Rent YoY: ▼ -2.98%
• 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

+88.8% since first listed

34 events — show timeline

• 2026-05-20 Pending — ARMLS
• 2026-05-19 Sold (MLS) — ARMLS
• 2026-04-21 Pending — ARMLS
• 2026-04-17 Sold (MLS) — ARMLS
• 2026-02-27 Pending — ARMLS
• 2026-02-24 Relisted — ARMLS
• 2026-01-28 Pending — ARMLS
• 2026-01-13 Price Changed $245,280 ARMLS
• 2025-12-14 Price Changed $268,640 ARMLS
• 2025-12-10 Relisted — ARMLS
• 2025-11-20 Relisted — ARMLS
• 2025-10-10 Pending — ARMLS
• 2025-10-10 Listing Removed — ARMLS
• 2025-10-09 Listing Removed — ARMLS
• 2025-08-21 Listed $292,000 ARMLS
• 2022-06-02 Sold (Public Records) $295,000 Public Records
• 2013-04-22 Sold (MLS) $45,000 ARMLS
• 2013-04-18 Sold (Public Records) $45,000 Public Records
• 2013-04-05 Listed $45,000 ARMLS
• 2013-04-05 Listing Removed — ARMLS
• 2010-02-04 Listing Removed — ARMLS
• 2010-01-22 Listed $112,000 ARMLS
• 2009-11-30 Listing Removed — ARMLS
• 2009-06-30 Listed $122,900 ARMLS
• 2008-12-31 Listing Removed — ARMLS
• 2008-03-06 Listed $165,000 ARMLS
• 2006-12-21 Listing Removed — ARMLS
• 2006-10-29 Listed $149,900 ARMLS
• 2006-10-11 Listing Removed — ARMLS
• 2006-09-15 Listed $157,900 ARMLS
• 2006-02-06 Sold (Public Records) $119,900 Public Records
• 2005-11-30 Sold (MLS) $120,000 ARMLS
• 2005-11-01 Listing Removed — ARMLS
• 2005-09-03 Listed $129,900 ARMLS

Property tax history

+5.5%/yr

Latest (2025): $1,575 · +4.1% YoY. Source: county tax records.