7025 N 66th Dr · Glendale, AZ 85301

$475,000

None bd · None ba · 2,094 sqft · MultiFamily public records · 525 Days on market

Built 1955

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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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks

Investment Opportunity! This 5-plex offers a unique blend of potential and affordability. Fire damage has presented the chance to renovate and customize this property to your vision. Featuring spacious 1-bedroom, 1-bathroom units, this property is ideally situated near shopping and public transportation, making it convenient for both residents and investors. Seller estimates $150k cost to rebuild the 2 units and remodel the remaining 3 units. Live in one unit while generating income from the others, or capitalize on the strong rental demand in this desirable location. Don't miss this chance to create a thriving income stream and build your real estate portfolio.

Key facts

• Strong rental demand
• Desirable location
• 4 parking spots

Tags

• INVESTMENT OPPORTUNITY
• STRONG RENTAL DEMAND
• DESIRABLE LOCATION

Property features AI

Finance

• Other: Directions: First street north of Glendale just east of 67th Ave.
• HOA & community: No pool

Exterior

• Parking: 4 total parking spaces; 4 open parking spaces; 1 space per unit
• Utilities: Electric service: SRP; Public sewer; City franchise water
• Home design: Fee simple ownership; One building on the property
• Construction: Painted stucco and block construction; Composition roof
• Exterior features: Painted stucco and block construction; Composition roof; Asphalt road access; Irrigated lot dimensions (IRR)

Interior

• Kitchen: Free-standing range; Refrigerator
• Flooring: Carpet; Vinyl
• Heating & cooling: Window/wall cooling unit; No heating system listed
• Interior features: Free-standing range; Refrigerator

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/?-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $271/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• Market conditions: Rents soft (-3.0%/yr); 215 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $5,241/mo this rent would consume 117% 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 $3k of loan paydown is wiped out by about $14k 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 525 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $260k; list at $475k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 525 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 1955 — 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: 1.10% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• GRM: 7.6

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-6,337
• Equity at exit: $70,824

10-year hold

• IRR: 5.3%
• Equity multiple: 1.34×
• Total profit: $45,227
• Equity at exit: $41,069

Cash invested: $133,000 (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 85301

• Home prices YoY: -10.6%
• Rents YoY: -3.0%
• Active inventory: 215
• Price-to-rent: 37.8×

Monthly cashflow live

• Estimated rent: $5,241 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$98 /mo · $1,174/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,101
• Net cashflow: $1,354

Break-even live

Break-even rent $3,527

Max offer price $475,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	—	$5,240
Total (5 units)			$5,241

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6819 N 64th Ave Glendale, AZ	3.0	2.0	1568	$1,500	$0.96	20d	1	0.29mi
6603 N 65th Ave Glendale, AZ	1.0–4.0	1.0–2.0	1150	$1,190	$1.04	1d	30	0.44mi
6526 N 69th Dr Glendale, AZ	3.0	2.0	1595	$2,145	$1.34	24d	1	0.61mi
7255 W Palmaire Ave Glendale, AZ	3.0	2.5	2034	$1,895	$0.93	10d	1	0.74mi
7519 N 59th Ln Glendale, AZ	3.0	2.0	1856	$2,099	$1.13	24d	1	0.96mi
7733 N 60th Ave Glendale, AZ	3.0	2.0	1430	$2,000	$1.40	1d	1	1.05mi
7631 N 59th Ln Glendale, AZ	3.0	1.0	1750	$1,980	$1.13	1d	1	1.07mi
6780 N 74th Dr Glendale, AZ	3.0	2.0	1646	$1,900	$1.15	18d	1	1.07mi
6780 N 74th Dr Glendale, AZ	3.0	2.0	1646	$1,900	$1.15	1d	1	1.07mi
7552 W State Ave Glendale, AZ	3.0	2.0	1875	$2,061	$1.10	24d	1	1.18mi
7668 W Flynn Ln Glendale, AZ	3.0	2.5	2178	$2,196	$1.01	20d	1	1.28mi
6755 W Montebello Ave Glendale, AZ	3.0	2.0	1476	$1,795	$1.22	16d	1	1.33mi
5819 N 59th Dr Glendale, AZ	3.0	3.0	1500	$2,100	$1.40	3d	1	1.37mi
7732 W Ocotillo Rd Glendale, AZ	3.0	2.0	1446	$2,000	$1.38	1d	1	1.40mi

Listing history 26 events

1. 2026-06-18
   days on market $475,000 Active 525 DOM
2. 2026-06-17
   days on market $475,000 Active 524 DOM
3. 2026-06-16
   days on market $475,000 Active 523 DOM
4. 2026-06-15
   days on market $475,000 Active 522 DOM
5. 2026-06-13
   days on market $475,000 Active 520 DOM
6. 2026-06-13
   days on market $475,000 Active 519 DOM
7. 2026-06-09
   days on market $475,000 Active 516 DOM
8. 2026-06-08
   days on market $475,000 Active 515 DOM
9. 2026-06-07
   days on market $475,000 Active 514 DOM
10. 2026-06-04
    days on market $475,000 Active 511 DOM
11. 2026-06-03
    days on market $475,000 Active 510 DOM
12. 2026-06-02
    days on market $475,000 Active 509 DOM
13. 2026-06-01
    days on market $475,000 Active 508 DOM
14. 2026-05-31
    days on market $475,000 Active 507 DOM
15. 2025-12-22
    price $475,000
16. 2025-10-27
    price $499,999
17. 2025-05-27
    status Active
18. 2025-05-22
    historical Under Contract Accepting Backups
19. 2025-02-13
    status Active
20. 2025-02-03
    historical Under Contract Accepting Backups
21. 2025-01-09
    listed $500,000 Active
22. 2007-01-24
    soldstatus $260,000
23. 2006-04-10
    soldstatus $260,000
24. 2006-01-20
    soldstatus $260,000
25. 1997-12-29
    soldstatus $78,900
26. 1996-02-02
    soldstatus $26,350

ⓘ 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: $1,174 · $98/mo
• Projected year-2 tax: $3,135 · $261/mo
• Expected delta: +$1,961/yr (+$163/mo · 167.1%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,892
• − Mortgage interest: −$26,607
• − Property taxes: −$1,174
• − Insurance: −$2,375
• − Repairs & maintenance: −$5,031
• − Management: −$5,031
• − Depreciation: −$13,818
• Taxable income: $8,855
• Est. tax owed @ 24.0%: −$2,125
• After-tax cash flow: $14,119/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

+1702.7% since first listed

12 events — show timeline

• 2025-12-22 Price Changed $475,000 ARMLS
• 2025-10-27 Price Changed $499,999 ARMLS
• 2025-05-27 Relisted — ARMLS
• 2025-05-22 Contingent — ARMLS
• 2025-02-13 Relisted — ARMLS
• 2025-02-03 Contingent — ARMLS
• 2025-01-09 Listed $500,000 ARMLS
• 2007-01-24 Sold (Public Records) $260,000 Public Records
• 2006-04-10 Sold (Public Records) $260,000 Public Records
• 2006-01-20 Sold (Public Records) $260,000 Public Records
• 1997-12-29 Sold (Public Records) $78,900 Public Records
• 1996-02-02 Sold (Public Records) $26,350 Public Records

Property tax history

-2.9%/yr

Latest (2025): $1,174 · +3.9% YoY. Source: county tax records.