320 E Hatcher Rd · Phoenix, AZ 85020

$674,900

None bd · None ba · — sqft · MultiFamily · 7 Days on market

Built 2026 Excellent condition 0.88 ac lot

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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
• Condition / age +5.0/5.0
• Livability +3.8/5.0
• Schools +2.3/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 20 units. estimate disagrees with records

Listing remarks

Seller carry is available. Shovel ready, fully approved project awaiting a developer to pull permits. Plan set conveys with sale. This 2 story, 20 unit multi-family project is zoned as R-5 High Density Multi-Family located within the Hatcher District Overlay that allows restaurants, office, and retail within new developments. There are 10 garages, 20 additional surface parking spaces, 4 three bed/two bath, 6 two bed/two bath, 2 one bed/one bath, and 8 studios. The development consists of 16,396 square feet.

Key facts

• 10 garages
• 0.88 acre lot
• 31 parking spots

Tags

• FULLY APPROVED PROJECT
• HATCHER DISTRICT OVERLAY
• 10 GARAGES

Property features AI

Finance

• Other: Lot dimensions approximately 218 x 137; Property directions: From AZ-51 and Northern Avenue, west on Northern, north on 7th Street, west on Hatcher to property

Exterior

• Parking: 31 total parking spaces; 10 covered parking spaces; 21 open parking spaces; Parking details referenced in remarks
• Utilities: Electric service noted as 'See Remarks'; Sewer service noted as 'See Remarks'; Water source noted as 'See Remarks'
• Home design: Fee simple ownership; Property listed as to be built; One building on the property
• Construction: Wood frame and stucco construction; Foam roof
• Exterior features: Asphalt road access; Barbecue available in community; No community pool

Interior

• Flooring: Vinyl
• Heating & cooling: Heating described in remarks; Cooling described in remarks
• Interior features: Vinyl flooring; Appliances and mechanicals described in remarks

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4×3bd/2ba + 6×2bd/2ba + 10×1bd/1ba units multifamily listed at $675k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $15k ($175k/yr) — positive. Per door: $730/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $675k).
• Cap rate 32.3% 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.
• 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: Sunnyslope High School (math 32% / reading 41%, grade F, #88 of 381 statewide, top 24%, 2,281 students, 41% FRL).
• Market conditions: Rents soft (-1.8%/yr); 288 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $24,394/mo this rent would consume 350% of the median local household income ($84k/yr) (locally 2104% 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 $5k of loan paydown is wiped out by about $20k 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 $189k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $674,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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.
6. 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.
7. 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: 3.61% ✓
• Cap rate: 32.27%
• Cash-on-cash: 92.76%
• DSCR: 5.13
• GRM: 2.3

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 E Carol Ave	0.04mi	5/3.0	—	1mo	$517,000	—	84
321 E Carol Ave	0.04mi	9/5.0	—	6mo	$675,000	—	81
338 E Vogel Ave	0.14mi	3/3.0	—	4mo	$1,150,000	—	77
315 E Carol Ave	0.04mi	—/—	—	10mo	$325,000	—	77
733 E Hatcher Rd	0.30mi	5/5.0	—	8mo	$650,000	—	67
20 W Sunnyslope Ln	0.35mi	4/4.0	—	9mo	$600,000	—	64
833 E Alice Ave	0.65mi	—/—	—	2mo	$449,900	—	56
801 E Dunlap Ave	0.46mi	—/—	—	13mo	$1,495,000	—	55
837 E Alice Ave	0.65mi	4/2.0	—	3mo	$450,000	—	54
9028 N 11th St	0.56mi	—/—	—	13mo	$500,000	—	51
911 E Alice Ave	0.68mi	4/2.0	—	11mo	$505,000	—	46
9047 N 11th St	0.57mi	6/4.0	—	18mo	$580,000	—	46

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: 90.1%
• Equity multiple: 4.97×
• Total profit: $749,855
• Equity at exit: $100,630

10-year hold

• IRR: 92.4%
• Equity multiple: 9.34×
• Total profit: $1,576,138
• Equity at exit: $58,353

Cash invested: $188,972 (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 85020

• Rents YoY: -1.8%
• Active inventory: 288
• Price-to-rent: 37.7×

Monthly cashflow live

• Estimated rent: $24,394 high
• Mortgage (P&I): −$3,539
• Tax est. 1.5%: −$844 /mo · $10,124/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,123
• Net cashflow: $14,607

Break-even live

Break-even rent $5,904

Max offer price $674,900

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$5,968
▸ 6× units	2	2	$7,170
▸ 10× units	1	1	$11,260
Total (20 units)			$24,394

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: $168,725
• Closing costs: $20,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 E Carol Ave Unit B Phoenix, AZ	2.0	1.0	700	$1,095	$1.56	10d	1	0.03mi
341 E Vogel Ave Unit 2 Phoenix, AZ	2.0	1.0	900	$1,250	$1.39	1d	1	0.09mi
323 E Purdue Ave Unit 05 Phoenix, AZ	2.0	1.0	900	$1,245	$1.38	1d	1	0.13mi
323 E Purdue Ave Apt 6 Phoenix, AZ	2.0	1.0	900	$1,050	$1.17	10d	1	0.13mi
513 E Hatcher Rd Unit 6 Phoenix, AZ	1.0	1.0	496	$850	$1.71	1d	1	0.14mi
9502 N 2nd Pl Unit N Phoenix, AZ	1.0	1.0	750	$995	$1.33	1d	1	0.15mi
102 E Hatcher Rd Unit 9404 Phoenix, AZ	2.0	1.0	750	$1,275	$1.70	1d	1	0.15mi
9618 N 5th St #1 Phoenix, AZ	1.0	1.0	648	$995	$1.54	1d	1	0.15mi
9618 N 5th St Unit 2 Phoenix, AZ	1.0	1.0	648	$1,050	$1.62	20d	1	0.15mi
9603 N 5th St Unit B Phoenix, AZ	1.0	1.0	530	$945	$1.78	10d	1	0.15mi
9230 N 6th St Unit 5 Phoenix, AZ	1.0	1.0	475	$650	$1.37	20d	1	0.16mi
9230 N 6th St Unit 3 Phoenix, AZ	1.0	1.0	475	$650	$1.37	14d	1	0.16mi
9230 N 6th St Unit 6 Phoenix, AZ	1.0	1.0	475	$749	$1.58	21d	1	0.16mi
9202 N 6th St Unit 5 Phoenix, AZ	2.0	2.0	1025	$1,395	$1.36	1d	1	0.20mi
9809 N 2nd Way Phoenix, AZ	2.0	1.0	700	$1,690	$2.41	10d	1	0.25mi
723 E Sunnyslope Ln Phoenix, AZ	2.0	1.0	800	$1,695	$2.12	2d	1	0.30mi
723 E Sunnyslope Ln Phoenix, AZ	2.0	1.0	794	$1,695	$2.13	1d	1	0.30mi
9514 N 8th St Unit 202 Phoenix, AZ	2.0	1.0	724	$1,050	$1.45	1d	1	0.33mi
9427 N 1st Ave Phoenix, AZ	3.0	2.0	1113	$1,900	$1.71	14d	1	0.33mi
10002 N 7th St Phoenix, AZ	1.0–3.0	1.0–2.0	1092	$1,675	$1.53	1d	23	0.35mi
809 E Vogel Ave Phoenix, AZ	2.0	1.0	—	$1,099	—	1d	1	0.38mi
823 E Carol Ave Unit 2 Phoenix, AZ	2.0	1.0	532	$1,200	$2.26	1d	1	0.39mi
602 E Townley Ave Phoenix, AZ	1.0	1.0	500	$799	$1.60	1d	1	0.41mi
602 E Townley Ave Unit 106 Phoenix, AZ	2.0	1.0	700	$975	$1.39	1d	1	0.41mi
9820 N Central Ave #308 Phoenix, AZ	1.0	1.0	727	$1,195	$1.64	1d	1	0.42mi
29 E Foothill Dr Phoenix, AZ	2.0	2.0	1392	$2,350	$1.69	1d	1	0.46mi
8842 N 2nd Way Phoenix, AZ	2.0	1.0	675	$1,550	$2.30	1d	1	0.46mi
8940 N 8th St Phoenix, AZ	1.0–2.0	1.0	725	$1,200	$1.66	1d	2	0.47mi
10001 N 7th St Phoenix, AZ	2.0	1.0–2.0	604	$1,229	$2.03	1d	11	0.47mi
201 E Townley Ave Phoenix, AZ	2.0	1.0	720	$1,049	$1.46	1d	5	0.47mi
8827 N 3rd St Unit 20 Phoenix, AZ	1.0	1.0	550	$868	$1.58	1d	1	0.47mi
10011 N 1st Ave Phoenix, AZ	2.0	2.5	1837	$2,799	$1.52	1d	1	0.50mi
10017 N 7th Pl #3 Phoenix, AZ	1.0	1.0	400	$700	$1.75	1d	1	0.50mi
801 E Puget Ave Phoenix, AZ	1.0	1.0	450	$1,095	$2.43	1d	1	0.53mi
801 E Puget Ave Unit 4 Phoenix, AZ	1.0	1.0	1776	$1,075	$0.61	1d	1	0.53mi
8842 N 8th St #103 Phoenix, AZ	1.0	1.0	680	$850	$1.25	10d	1	0.53mi
8847 N 8th St #102 Phoenix, AZ	1.0	1.0	510	$850	$1.67	12d	1	0.54mi
8801 N 1st St Unit 4 Phoenix, AZ	2.0	1.0	800	$1,095	$1.37	1d	1	0.57mi
9028 N 11th St Unit 2 Phoenix, AZ	2.0	1.0	850	$1,050	$1.24	1d	1	0.58mi
9028 N 11th St Unit 3 Phoenix, AZ	1.0	1.0	450	$750	$1.67	1d	1	0.58mi

Listing history 10 events

1. 2026-06-18
   days on market $674,900 Active 7 DOM
2. 2026-06-17
   pricedays on market $674,900 Active 6 DOM
3. 2026-06-16
   days on market $694,900 Active 5 DOM
4. 2026-06-15
   days on market $694,900 Active 4 DOM
5. 2026-06-13
   remarks 512-char remark
6. 2026-06-13
   days on marketlisting id $694,900 Active 2 DOM
7. 2026-06-01
   days on market $694,900 Active 39 DOM
8. 2026-05-31
   days on market $694,900 Active 38 DOM
9. 2026-05-22
   price $694,900
10. 2026-04-23
    listed $695,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $292,728
• − Mortgage interest: −$37,805
• − Property taxes: −$10,124
• − Insurance: −$3,374
• − Repairs & maintenance: −$23,418
• − Management: −$23,418
• − Depreciation: −$19,633
• Taxable income: $174,955
• Est. tax owed @ 24.0%: −$41,989
• After-tax cash flow: $133,297/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.

Condition & rehab AI · 4 photos

Excellent 100/100 None rehab

This multi-family project is shovel-ready and fully approved, awaiting a developer to pull permits. The plan set conveys with the sale, and the property is zoned for high-density multi-family use, allowing for restaurants, offices, and retail. The development consists of 20 units, 10 garages, and 20 surface parking spaces, making it a prime investment opportunity.

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 — 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): 34,916
• Household income: $83,735
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 2104.0

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 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Native American 5% Black 3% Asian 3%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Romanian 4% Slovak 2% Portuguese 2%
• Foreign-born: 13% · Canada, Guatemala, China
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 1% German/W. Germanic 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: ▼ -484.20%
• Current HPI: 305.8855
• Rent YoY: ▼ -1.77%
• 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

-0.0% since first listed

2 events — show timeline

• 2026-05-22 Price Changed $694,900 ARMLS
• 2026-04-23 Listed $695,000 ARMLS