921 S 3rd Ave · Phoenix, AZ 85003

$260,000

3 bd · 1.0 ba · 1,027 sqft · SingleFamily public records · 48 Days on market

Built 1921 6,500 sqft lot Est $273k · at est.

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Why this score? — see what drove the D 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 +16.1/30.0
• ARV discount +9.7/15.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom, 1 bathroom and NO HOA. Property being sold as-is. Location, Location, Location! Great potential in this up and coming neighborhood. City lights and close proximity to Chase Field, Mortgage Matchup Center, ASU and U of A schools, light rail system, and a public library. An abundance of restaurant options. Come check this gem out before it's gone.

Key facts

• Light rail system
• Public library
• No hoa

Tags

• NO HOA
• UP AND COMING NEIGHBORHOOD
• CLOSE PROXIMITY TO CHASE FIELD
• CLOSE PROXIMITY TO ASU
• LIGHT RAIL SYSTEM
• PUBLIC LIBRARY

Property features AI

Finance

• Financial info: Current financing: FHA
• HOA & community: No association fees

Exterior

• Parking: 1 open parking space; 1 covered parking space; 1 carport space; RV gate
• Utilities: City water; Public sewer
• Home design: Single family residence; Fee simple ownership
• Construction: Stucco and wood frame construction; Metal roof; Rolled/hot mop roof
• Exterior features: Gravel/stone front yard; Gravel/stone back yard; Block fencing; Chain link fencing

Interior

• Kitchen: Refrigerator
• Bedrooms: Up to 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Granite counters
• Laundry & utility: Indoor laundry with washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $135 ($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 $213k (18.1% below list).
• Recommended offer: $213k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Central High School (math 13% / reading 16%, grade F, #267 of 381 statewide, top 72%, 1,901 students, 92% FRL).
• Market conditions: Rents soft (-2.3%/yr); 104 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 42% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 48 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1921 — 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 $213,054 (18.1% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $273,182
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 E Hadley St	0.31mi	2/1.0 (-1)	994 (-3%)	8mo	$264,000	$266	68
502 W Apache St	0.59mi	2/1.0 (-1)	1,012 (-2%)	2mo	$154,000	$152	63
2018 S 3rd Dr	0.62mi	3/1.0	965 (-6%)	1mo	$19,900	$21	61
743 W Pima St	0.56mi	2/1.0 (-1)	900 (-12%)	1mo	$180,000	$200	47
601 W Mohave St	0.57mi	3/1.0	954 (-7%)	17mo	$275,000	$288	47
619 W Cocopah St	0.52mi	3/2.0	1,151 (+12%)	13mo	$299,000	$260	41
1201 W Pima St #1	0.74mi	3/1.0	945 (-8%)	14mo	$257,500	$272	40
329 W Mohave St	0.51mi	2/2.0 (-1)	950 (-8%)	18mo	$300,000	$316	40

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: -15.8%
• Equity multiple: 0.45×
• Total profit: $-39,873
• Equity at exit: $38,767

10-year hold

• IRR: -12.8%
• Equity multiple: 0.34×
• Total profit: $-48,239
• Equity at exit: $22,480

Cash invested: $72,800 (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 85003

• Home prices YoY: -33.9%
• Rents YoY: -2.3%
• Active inventory: 104
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,131 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$76 /mo · $911/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $135

Break-even live

Break-even rent $1,959

Max offer price $260,000

Occupancy floor 89%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
814 S 1st Ave Phoenix, AZ	2.0	2.0	1247	$1,995	$1.60	1d	1	0.14mi
410 W Hadley St Phoenix, AZ	2.0	2.0	1000	$1,995	$2.00	19d	1	0.17mi
917 S 5th Ave Apt 2 Phoenix, AZ	3.0	2.5	1500	$2,199	$1.47	1d	1	0.18mi
402 W Lincoln St Phoenix, AZ	1.0–2.0	1.0–2.0	893	$2,234	$2.50	1d	20	0.39mi
382 W Cocopah St Phoenix, AZ	3.0	2.0	1294	$1,795	$1.39	1d	1	0.42mi
903 W Yuma St Phoenix, AZ	3.0	1.0	900	$1,200	$1.33	1d	1	0.52mi
116 W Apache St Unit 1 Phoenix, AZ	4.0	2.0	1300	$2,350	$1.81	1d	1	0.52mi
114 W Apache St Phoenix, AZ	4.0	2.0	1300	$2,350	$1.81	1d	1	0.53mi
620 W Apache St #4 Phoenix, AZ	2.0	1.0	900	$1,050	$1.17	3d	1	0.61mi
222 E Jefferson St Phoenix, AZ	2.0	1.0–2.5	1135	$4,225	$3.72	1d	50	0.73mi
188 E Jefferson St Phoenix, AZ	2.0	1.0–2.0	944	$3,595	$3.81	1d	26	0.74mi
1429 S 14th Ave Phoenix, AZ	4.0	2.0	1151	$1,300	$1.13	10d	1	0.80mi
114 W Adams St #1008 Phoenix, AZ	2.0	2.0	1174	$2,495	$2.13	1d	1	0.80mi
114 W Adams St Phoenix, AZ	1.0–2.0	1.0–2.0	1003	$2,600	$2.59	17d	2	0.80mi
114 W Adams St Phoenix, AZ	1.0–2.0	1.0–2.0	1003	$2,495	$2.49	2d	2	0.80mi
1315 W Cocopah St Unit B Phoenix, AZ	4.0	3.5	1440	$2,450	$1.70	1d	1	0.84mi
1507 W Tonto St Apt 1 Phoenix, AZ	2.0	1.0	810	$1,450	$1.79	10d	1	0.85mi
44 W Monroe St Phoenix, AZ	1.0–2.0	1.5–2.0	1178	$3,287	$2.79	1d	13	0.87mi
200 W Monroe St Phoenix, AZ	2.0	1.0–2.0	731	$2,415	$3.30	1d	45	0.87mi
50 W Van Buren St Phoenix, AZ	2.0	1.0–2.0	1231	$8,455	$6.87	1d	126	0.94mi
311 N 1st Ave Phoenix, AZ	4.0	1.0–4.0	776	$1,982	$2.55	1d	214	0.96mi
355 N Central Ave Phoenix, AZ	3.0	1.0–3.0	752	$1,835	$2.44	1d	12	1.00mi
1050 S 16th Dr Phoenix, AZ	1.0–2.0	1.0	800	$1,360	$1.70	1d	1	1.01mi
133 N 11th Ave Unit 133 Phoenix, AZ	2.0	1.0	840	$1,500	$1.79	22d	1	1.03mi
101 N 7th St #102 Phoenix, AZ	2.0	2.0	963	$1,950	$2.02	17d	1	1.05mi
400 N 2nd Ave Phoenix, AZ	1.0–2.0	1.0–2.0	988	$2,541	$2.57	1d	25	1.12mi
101 N 7th St Phoenix, AZ	2.0	2.0	1118	$1,875	$1.68	1d	1	1.13mi
1326 W Monroe St Unit 1326 Phoenix, AZ	2.0	1.5	1050	$1,695	$1.61	1d	1	1.16mi
601 N 3rd Ave Phoenix, AZ	2.0	1.0–2.0	877	$3,578	$4.08	1d	19	1.16mi
50 E Fillmore St Phoenix, AZ	3.0	1.0–2.0	1023	$4,490	$4.39	1d	242	1.17mi
1110 E Mohave St Unit 4 Phoenix, AZ	4.0	2.5	1200	$1,795	$1.50	8d	1	1.18mi
1110 E Mohave St Phoenix, AZ	4.0	2.5	1200	$1,795	$1.50	1d	1	1.18mi
100 E Fillmore St #208 Phoenix, AZ	2.0	2.0	1285	$2,250	$1.75	15d	1	1.20mi
601 N 6th Ave Phoenix, AZ	2.0	1.0	562	$1,250	$2.22	1d	5	1.20mi
1350 W Van Buren St Phoenix, AZ	3.0	1.0–2.0	897	$1,841	$2.05	1d	11	1.21mi
1524 W Monroe St Unit B Phoenix, AZ	2.0	1.0	950	$1,000	$1.05	5d	1	1.24mi
1524 W Monroe St Phoenix, AZ	2.0	1.0	1000	$1,000	$1.00	1d	1	1.24mi
901 E Van Buren St Phoenix, AZ	1.0–2.0	1.0–2.0	958	$3,745	$3.91	1d	12	1.24mi
600 N 4th St Phoenix, AZ	2.0	1.0–2.5	1148	$2,720	$2.37	1d	19	1.25mi
625 N 2nd Ave Phoenix, AZ	2.0	1.0–2.0	685	$2,837	$4.14	1d	53	1.26mi

Listing history 21 events

1. 2026-06-18
   days on market $260,000 Active 48 DOM
2. 2026-06-17
   days on market $260,000 Active 47 DOM
3. 2026-06-16
   days on market $260,000 Active 46 DOM
4. 2026-06-15
   days on market $260,000 Active 45 DOM
5. 2026-06-13
   days on market $260,000 Active 43 DOM
6. 2026-06-13
   days on market $260,000 Active 42 DOM
7. 2026-06-09
   days on market $260,000 Active 39 DOM
8. 2026-06-08
   days on market $260,000 Active 38 DOM
9. 2026-06-07
   days on market $260,000 Active 37 DOM
10. 2026-06-04
    days on market $260,000 Active 34 DOM
11. 2026-06-03
    days on market $260,000 Active 33 DOM
12. 2026-06-02
    days on market $260,000 Active 32 DOM
13. 2026-06-01
    days on market $260,000 Active 31 DOM
14. 2026-05-31
    days on market $260,000 Active 30 DOM
15. 2026-05-01
    listed $260,000 Active
16. 2016-03-03
    historical
17. 2016-02-04
    price $120,000
18. 2016-02-04
    historical Under Contract Accepting Backups
19. 2016-01-28
    status Active
20. 2016-01-25
    status Pending
21. 2016-01-22
    listed $115,000 Active

ⓘ 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: $911 · $76/mo
• Projected year-2 tax: $1,716 · $143/mo
• Expected delta: +$805/yr (+$67/mo · 88.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 20% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,566
• − Mortgage interest: −$14,564
• − Property taxes: −$911
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,045
• − Management: −$2,045
• − Depreciation: −$7,564
• Taxable loss: −$2,863
• Est. tax savings @ 24.0%: +$687
• After-tax cash flow: $2,312/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): 10,875
• Household income: $60,461
• Rent vs Own: 72.2% rent · 27.8% own
• Severe rent burden: 1340.0

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 0.66)
• Race & ethnicity: White 48% Hispanic / Latino 28% Black 18% Two or more races 10% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Swedish 1%
• Foreign-born: 12% · Canada
• Languages at home: 79% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -198.14%
• Current HPI: 385.5979
• Rent YoY: ▼ -2.31%
• 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

+126.1% since first listed

7 events — show timeline

• 2026-05-01 Listed $260,000 ARMLS
• 2016-03-03 Listing Removed — ARMLS
• 2016-02-04 Contingent — ARMLS
• 2016-02-04 Price Changed $120,000 ARMLS
• 2016-01-28 Relisted — ARMLS
• 2016-01-25 Pending — ARMLS
• 2016-01-22 Listed $115,000 ARMLS

Property tax history

+4.6%/yr

Latest (2025): $911 · +6.6% YoY. Source: county tax records.