2826 E Marconi Ave · Phoenix, AZ 85032

$625,000

None bd · None ba · 3,618 sqft · MultiFamily public records · 46 Days on market

Built 1982 Est $618k · 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 +15.9/30.0
• ARV discount +7.0/15.0
• DSCR +4.9/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• 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: 4 units. confirmed

Listing remarks

Amazing investment fourplex in North Phoenix! Premium corner building with no shared walls, and easy access to covered parking for tenants. Units consist of: four 2bed/2bath units. All units have a large square footage and modern layouts and all include washer/dryer hookups. Great rents that make it a no brainer for any investor. Monthly HOA dues INCLUDE: common area maintenance, landscaping, community pool, parking enforcement, and gated access.

Key facts

• 8 parking spots
• Pool
• Built 1982

Property features AI

Finance

• HOA & community: Community pool; Community barbecue; Play area

Exterior

• Parking: 8 total parking spaces; 4 covered spaces (carport); 4 open parking spaces; Less than 1 space per unit noted
• Utilities: Electric: APS with individual meter; Public sewer; Water: individual meter, city franchise
• Home design: Fee simple ownership
• Construction: Wood frame construction; Painted exterior; Stucco finish; Built-up roof; One building on the lot; Lot dimensions approximately 5808
• Exterior features: Private pool; Asphalt road access; Barbecue area; Play area

Interior

• Kitchen: Built-in range; Built-in electric oven; Refrigerator; Disposal
• Flooring: Carpet; Vinyl
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling; Electric cooling
• Interior features: Ceiling fans; Disposal; Built-in electric oven; Built-in range; Refrigerator; W/D hookup
• Laundry & utility: Washer/Dryer (included); Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2-bath units multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive. Per door: $75/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $500k (19.9% below list).
• Recommended offer: $500k (19.9% 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.
• Paradise Valley Unified District (4241) (urban): math 39% / reading 46% proficiency, ranked #56 of 249 in AZ (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Palomino Primary School (math 17% / reading 8%, grade F, #944 of 1,109 statewide, top 87%, 575 students, 83% FRL); Palomino Intermediate School (math 7% / reading 19%, grade F, #169 of 218 statewide, top 79%, 435 students, 82% FRL); North Canyon High School (math 13% / reading 23%, grade F, #242 of 381 statewide, top 64%, 1,842 students, 55% FRL) — zoned schools average 73% FRL vs 29% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 42% district-wide (-28 pts) — the specific schools serving this property underperform the Paradise Valley Unified District (4241) average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.5%/yr); 340 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $5,005/mo this rent would consume 76% of the median local household income ($79k/yr) (locally 2887% 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 $4k of loan paydown is wiped out by about $19k 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 46 days — a 3% lower offer ($606k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 14y 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.
• Current owner paid $380k; list at $625k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $500,500 (19.9% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 20% 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. 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. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

• ARV (median comp): $618,349
• List price: $625,000
• Delta: 1.08%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-97,241
• Equity at exit: $93,190

10-year hold

• IRR: -13.1%
• Equity multiple: 0.32×
• Total profit: $-118,200
• Equity at exit: $54,039

Cash invested: $175,000 (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 85032

• Rents YoY: -1.5%
• Active inventory: 340
• Price-to-rent: 41.6×

Monthly cashflow live

• Estimated rent: $5,005 high
• Mortgage (P&I): −$3,278
• Tax from tax record: −$117 /mo · $1,405/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,051
• Net cashflow: $299

Break-even live

Break-even rent $4,627

Max offer price $625,000

Occupancy floor 89%

Sensitivity live

Price	-10% $653	-5% $476	+0% $299	+5% $122	+10% $-55
Rent	-10% $-97	-5% $101	+0% $299	+5% $497	+10% $694
Rate	-1.0pp $614	-0.5pp $458	base $299	+0.5pp $137	+1.0pp $-28

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$5,004
Total (4 units)			$5,005

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2801 E Monte Cristo Ave Apt 201 Phoenix, AZ	2.0	2.0	3628	$875	$0.24	1d	1	0.06mi

Listing history 50 events

1. 2026-06-21
   days on market $625,000 Active 46 DOM
2. 2026-06-18
   days on market $625,000 Active 43 DOM
3. 2026-06-17
   days on market $625,000 Active 42 DOM
4. 2026-06-16
   days on market $625,000 Active 41 DOM
5. 2026-06-15
   days on market $625,000 Active 40 DOM
6. 2026-06-13
   days on market $625,000 Active 38 DOM
7. 2026-06-13
   days on market $625,000 Active 37 DOM
8. 2026-06-09
   days on market $625,000 Active 34 DOM
9. 2026-06-08
   days on market $625,000 Active 33 DOM
10. 2026-06-07
    days on market $625,000 Active 32 DOM
11. 2026-06-04
    days on market $625,000 Active 29 DOM
12. 2026-06-03
    days on market $625,000 Active 28 DOM
13. 2026-06-02
    days on market $625,000 Active 27 DOM
14. 2026-06-01
    days on market $625,000 Active 26 DOM
15. 2026-05-31
    days on market $625,000 Active 25 DOM
16. 2026-05-06
    listed $625,000 Active 450-char remark
17. 2026-04-29
    listed $1,000
18. 2026-04-28
    historical $1,000
19. 2026-04-20
    listed $1,000
20. 2026-03-20
    historical $1,200
21. 2026-02-17
    listed $1,200
22. 2022-12-14
    historical
23. 2021-02-05
    price $380,000
24. 2021-02-05
    listed Under Contract Accepting Backups
25. 2021-02-05
    soldstatus $380,000 Closed
26. 2021-02-05
    soldstatus $380,000
27. 2021-01-29
    soldstatus $380,000 Closed
28. 2020-12-23
    historical Under Contract Accepting Backups
29. 2020-12-22
    listed $370,000 Active
30. 2018-03-19
    soldstatus $201,000 Closed
31. 2018-03-19
    soldstatus $201,000
32. 2018-02-28
    historical Under Contract Accepting Backups
33. 2018-02-28
    status Active
34. 2017-11-13
    historical
35. 2017-10-13
    historical Under Contract Accepting Backups
36. 2017-10-02
    listed $204,000 Active
37. 2017-09-29
    soldstatus $201,000 Closed
38. 2017-08-19
    historical Under Contract Accepting Backups
39. 2017-08-04
    listed $204,000 Active
40. 2014-03-24
    soldstatus $160,000 Closed
41. 2014-03-24
    soldstatus $160,000
42. 2014-03-16
    status Pending
43. 2014-03-15
    status Pending
44. 2014-03-15
    soldstatus $160,000 Closed
45. 2014-03-14
    soldstatus $160,000 Closed
46. 2014-03-11
    status Pending
47. 2014-03-07
    soldstatus $160,000 Closed
48. 2014-02-11
    status Pending
49. 2014-01-13
    listed $162,000 Active
50. 2012-10-24
    soldstatus $106,100

ⓘ 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: $1,405 · $117/mo
• Projected year-2 tax: $4,125 · $344/mo
• Expected delta: +$2,720/yr (+$227/mo · 193.6%)

ⓘ 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 8/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,060
• − Mortgage interest: −$35,010
• − Property taxes: −$1,405
• − Insurance: −$3,125
• − Repairs & maintenance: −$4,805
• − Management: −$4,805
• − Depreciation: −$18,182
• Taxable loss: −$7,271
• Est. tax savings @ 24.0%: +$1,745
• After-tax cash flow: $5,332/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: Paradise Valley Unified District (4241)
• NCES district ID: 0405930
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $64,106
• Composite: 37.89/100
• National rank: #4316
• State rank: #56 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): 70,839
• Household income: $78,643
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 2887.0

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 59% Hispanic / Latino 29% Two or more races 17% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Romanian 2% Slovak 2% Portuguese 2%
• Foreign-born: 18% · Canada, China
• Languages at home: 71% English-only · Spanish 21% Russian/Polish/Slavic 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: ▼ -488.65%
• Current HPI: 339.4181
• Rent YoY: ▼ -1.46%
• 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

-99.9% since first listed

53 events — show timeline

• 2026-05-21 Rental Removed $1,000 TURBOTENANT
• 2026-05-06 Listed $625,000 ARMLS
• 2026-04-29 Listed for Rent $1,000 TURBOTENANT
• 2026-04-28 Rental Removed $1,000 TURBOTENANT
• 2026-04-20 Listed for Rent $1,000 TURBOTENANT
• 2026-03-20 Rental Removed $1,200 TURBOTENANT
• 2026-02-17 Listed for Rent $1,200 TURBOTENANT
• 2022-12-14 Rental Removed — RENT.
• 2021-02-05 Price Changed $380,000 ARMLS
• 2021-02-05 Listed — ARMLS
• 2021-02-05 Sold (Public Records) $380,000 Public Records
• 2021-02-05 Sold (MLS) $380,000 ARMLS
• 2021-01-29 Sold (MLS) $380,000 ARMLS
• 2020-12-23 Contingent — ARMLS
• 2020-12-22 Listed $370,000 ARMLS
• 2018-03-19 Sold (Public Records) $201,000 Public Records
• 2018-03-19 Sold (MLS) $201,000 ARMLS
• 2018-02-28 Contingent — ARMLS
• 2018-02-28 Relisted — ARMLS
• 2017-11-13 Listing Removed — ARMLS
• 2017-10-13 Contingent — ARMLS
• 2017-10-02 Listed $204,000 ARMLS
• 2017-09-29 Sold (MLS) $201,000 ARMLS
• 2017-08-19 Contingent — ARMLS
• 2017-08-04 Listed $204,000 ARMLS
• 2014-03-24 Sold (Public Records) $160,000 Public Records
• 2014-03-24 Sold (MLS) $160,000 ARMLS
• 2014-03-16 Pending — ARMLS
• 2014-03-15 Pending — ARMLS
• 2014-03-15 Sold (MLS) $160,000 ARMLS
• 2014-03-14 Sold (MLS) $160,000 ARMLS
• 2014-03-11 Pending — ARMLS
• 2014-03-07 Sold (MLS) $160,000 ARMLS
• 2014-02-11 Pending — ARMLS
• 2014-01-13 Listed $162,000 ARMLS
• 2012-10-24 Sold (Public Records) $106,100 Public Records
• 2012-08-16 Pending — ARMLS
• 2012-08-06 Listing Removed — ARMLS
• 2012-07-30 Relisted — ARMLS
• 2012-07-03 Pending — ARMLS
• 2012-04-18 Pending — ARMLS
• 2012-03-02 Pending — ARMLS
• 2012-02-20 Contingent — ARMLS
• 2012-01-19 Relisted — ARMLS
• 2012-01-13 Pending — ARMLS
• 2012-01-04 Listed $95,000 ARMLS
• 2005-12-13 Sold (Public Records) $380,000 Public Records
• 2005-09-01 Sold (Public Records) $17,300,000 Public Records
• 2004-09-09 Sold (Public Records) $12,100,000 Public Records
• 1998-01-26 Sold (Public Records) $8,850,000 Public Records
• 1993-06-04 Sold (Public Records) $2,640,000 Public Records
• 1986-12-15 Sold (Public Records) $810,000 Public Records
• 1986-12-15 Sold (Public Records) $680,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $1,405 · +2.7% YoY. Source: county tax records.