1109 W Apache St · Phoenix, AZ 85007

$136,000

3 bd · 1.0 ba · 816 sqft · SingleFamily public records · 5 Days on market

Built 1938 3,497 sqft lot Est $228k · 40% under

---

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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of this strategically located infill parcel at 1109 W Apache St, Phoenix, AZ 85007- a standout investment site with R-3 multifamily zoning offering redevelopment flexibility in one of Phoenix's most dynamic neighborhoods. Situated just blocks from Downtown Phoenix, this property presents an ideal canvas for builders and investors ready to capitalize on the region's growth. Positioned in the Central City South / Downtown Phoenix area, this lot enjoys immediate access to major employment hubs, entertainment, dining, and transportation corridors. With quick access to Phoenix Sky Harbor International Airport, freeways, and urban amenities, the location supports strong renta

Key facts

• Future value upside
• Strong rental demand
• 3,497 sq ft lot

Tags

• R-3 MULTIFAMILY ZONING
• REDEVELOPMENT FLEXIBILITY
• STRONG RENTAL DEMAND
• FUTURE VALUE UPSIDE

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Utilities: Public sewer; City water
• Home design: Single family residence; Fee simple ownership
• Construction: Block construction; Other roof type
• Exterior features: Chain link fencing; Dirt front and back yard

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; Cooling: see remarks
• Interior features: Full bathroom in primary bedroom
• Laundry & utility: No laundry hookups

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• Cap rate 8.2% 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 rising (+1.4%/yr); 87 active listings in the ZIP; 14 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $136k implies a 580% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,000

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $227,664
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1137 W Mohave St	0.09mi	3/1.0	738 (-10%)	5mo	$285,000	$386	76
743 W Pima St	0.26mi	2/1.0 (-1)	900 (+10%)	1mo	$180,000	$200	65
1809 S 7th Ave	0.30mi	2/1.0 (-1)	864 (+6%)	9mo	$185,000	$214	64
1317 W Mohave St	0.16mi	2/1.0 (-1)	864 (+6%)	17mo	$298,000	$345	64
1535 W Pima St	0.36mi	3/1.0	896 (+10%)	20mo	$250,000	$279	50

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 · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-10,490
• Equity at exit: $20,278

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-626
• Equity at exit: $11,759

Cash invested: $38,080 (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 85007

• Home prices YoY: -28.9%
• Rents YoY: 1.4%
• Active inventory: 87
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,466 high
• Mortgage (P&I): −$713
• Tax est. 1.5%: −$170 /mo · $2,040/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $219

Break-even live

Break-even rent $1,190

Max offer price $136,000

Occupancy floor 80%

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1146 W Apache St Unit 2 Phoenix, AZ	2.0	1.0	650	$1,475	$2.27	2d	1	0.11mi
620 W Apache St #4 Phoenix, AZ	2.0	1.0	900	$1,050	$1.17	3d	1	0.27mi
903 W Yuma St Phoenix, AZ	3.0	1.0	900	$1,200	$1.33	1d	1	0.35mi
1507 W Tonto St Apt 1 Phoenix, AZ	2.0	1.0	810	$1,450	$1.79	10d	1	0.64mi
1050 S 16th Dr Phoenix, AZ	1.0–2.0	1.0	800	$1,360	$1.70	1d	1	0.70mi
410 W Hadley St Phoenix, AZ	2.0	2.0	1000	$1,995	$2.00	19d	1	0.77mi
1709 W Sherman St Unit 1 Phoenix, AZ	2.0	1.0	672	$1,095	$1.63	1d	1	0.89mi
402 W Lincoln St Phoenix, AZ	1.0–2.0	1.0–2.0	893	$2,234	$2.50	1d	20	0.89mi
1725 W Sherman St Unit A Phoenix, AZ	2.0	1.0	590	$1,895	$3.21	1d	1	0.91mi
1920 W Tonto St Phoenix, AZ	2.0	1.0	1000	$1,595	$1.59	4d	1	1.00mi
133 N 11th Ave Unit 133 Phoenix, AZ	2.0	1.0	840	$1,500	$1.79	22d	1	1.41mi
1326 W Monroe St Unit 1326 Phoenix, AZ	2.0	1.5	1050	$1,695	$1.61	1d	1	1.42mi
1524 W Monroe St Phoenix, AZ	2.0	1.0	1000	$1,000	$1.00	1d	1	1.45mi
1524 W Monroe St Unit B Phoenix, AZ	2.0	1.0	950	$1,000	$1.05	5d	1	1.45mi

Listing history 10 events

1. 2026-06-17
   status $136,000 Pending 5 DOM
2. 2026-06-17
   days on market $136,000 Active 5 DOM
3. 2026-06-16
   days on market $136,000 Active 4 DOM
4. 2026-06-15
   days on market $136,000 Active 3 DOM
5. 2026-06-13
   pricedays on marketlisting id $136,000 Active 1 DOM
6. 2026-04-16
   status Active
7. 2026-03-03
   historical
8. 2026-02-26
   listed $150,000 Active
9. 1990-06-19
   soldstatus $20,000
10. 1990-06-19
    soldstatus $20,000

ⓘ 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 5/10 Major FEMA zone X (shaded) · 24% 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: $17,597
• − Mortgage interest: −$7,618
• − Property taxes: −$2,040
• − Insurance: −$680
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − Depreciation: −$3,956
• Taxable income: $487
• Est. tax owed @ 24.0%: −$117
• After-tax cash flow: $2,506/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): 13,575
• Household income: $63,616
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 541.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 37% White 34% Black 8% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 48% Puerto Rican 1%
• Common ancestry: Italian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 16% · Canada, China
• Languages at home: 65% English-only · Spanish 32% German/W. Germanic 1% Chinese 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: ▼ -158.06%
• Current HPI: 388.9189
• Rent YoY: ▲ 1.35%
• 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

+650.0% since first listed

5 events — show timeline

• 2026-04-16 Relisted — ARMLS
• 2026-03-03 Listing Removed — ARMLS
• 2026-02-26 Listed $150,000 ARMLS
• 1990-06-19 Sold (Public Records) $20,000 Public Records
• 1990-06-19 Sold (Public Records) $20,000 Public Records

Property tax history

-5.0%/yr

Latest (2025): $271 · +6.6% YoY. Source: county tax records.