3840 N 43rd Ave #57 · Phoenix, AZ 85031

$90,000

3 bd · 2.0 ba · 1,243 sqft · Townhouse public records · 20 Days on market

Built 1975 584 sqft lot Est $116k · 22% under $370/mo HOA · 25% of rent

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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 +27.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Currently rented for $675/month until 3/31/14... 1243SF Two-Story Spacious Townhome has 3BR/1.5BA/1-Carport with a Gas Stove, Fridge and Inside Laundry with washer/dryer. HOA INCLUDES your Water/Trash/Sewer & Gas utilities - cooking and heat (only utility you have to pay for is Electricity) and there’s a Community Pool!!…NEAR EVERYTHING: Minutes to I-17/I-10 freeways, Phoenix College, Encanto Golf Course, Schools, Downtown Phoenix, Arizona Center, Chase Field, Entertainment, Dining, Shopping, and more!!... Also for sale in the same complex - #4984513 & 4984501. This home sold in 2006 for $119,900!

Key facts

• Carport parking
• Updated kitchen
• Prime location

Tags

• UPDATED KITCHEN
• SPACIOUS LIVING ROOM
• TRANQUIL PATIO
• CARPORT PARKING
• PRIME LOCATION

Property features AI

Finance

• HOA & community: Monthly association fee; Association covers roof repair and replacement, insurance, sewer, grounds maintenance, front yard maintenance, gas, trash, water, and exterior maintenance; No visible trucks, trailers, RVs, or boats allowed; Community features include gated access, nearby bus stop, playground, and biking/walking path

Exterior

• Parking: 2 open parking spaces; 1 covered space; 1 carport space; Gated, assigned parking with permit required
• Security: Gated community
• Utilities: City water; Public sewer
• Home design: Condominium townhouse; Attached property
• Construction: Stucco and painted block construction; Composition and built-up roof
• Exterior features: Balcony; Private street(s); Desert front yard; Dirt back yard; Block fencing

Interior

• Kitchen: Built-in microwave; Gas range stub available; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: Up to 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Cooling system present
• Interior features: High-speed internet; Double vanity; Upstairs; Eat-in kitchen
• Laundry & utility: No laundry hookups in unit

🏷️ Possibly a rental listed for sale. The $90,000 price doesn't fit this home's estimated sale value (~$115,599) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: Maryvale High School (math 8% / reading 14%, grade F, #292 of 381 statewide, top 77%, 2,795 students, 88% FRL).
• Market conditions: Rents rising (+3.1%/yr); 70 active listings in the ZIP; 40 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 $622 of loan paydown is wiped out by about $3k 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 + 3.1% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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: HOA is 25% of rent.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.67% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $115,599
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3840 N 43rd Ave #58	0.00mi	3/1.5	1,243 (0%)	6mo	$110,000	$88	93
3840 N 43rd Ave #79	0.00mi	3/1.5	1,243 (0%)	6mo	$115,000	$93	93
3830 W Crittenden Ln	0.67mi	2/2.0 (-1)	1,090 (-12%)	3mo	$260,000	$239	41

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 · 3.09% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $2,621
• Equity at exit: $13,419

10-year hold

• IRR: 12.5%
• Equity multiple: 2.01×
• Total profit: $25,389
• Equity at exit: $7,782

Cash invested: $25,200 (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 85031

• Home prices YoY: -23.5%
• Rents YoY: 3.1%
• Active inventory: 70
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$472
• Tax from tax record: −$40 /mo · $477/yr
• Insurance: −$38
• HOA: −$370
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $265

Break-even live

Break-even rent $1,164

Max offer price $90,000

Occupancy floor 77%

Sensitivity live

Price	-10% $316	-5% $290	+0% $265	+5% $239	+10% $214
Rent	-10% $146	-5% $206	+0% $265	+5% $324	+10% $383
Rate	-1.0pp $310	-0.5pp $288	base $265	+0.5pp $241	+1.0pp $218

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3840 N 43rd Ave #78 Phoenix, AZ	3.0	1.5	1243	$1,600	$1.29	0d	1	0.02mi
4102 W Osborn Rd Phoenix, AZ	2.0	1.0–2.0	840	$1,349	$1.61	2d	1	0.42mi
4436 N 47th Ave Phoenix, AZ	3.0	2.0	1296	$1,510	$1.17	19d	1	0.77mi
4540 N 39th Ave Phoenix, AZ	2.0	1.0	810	$1,397	$1.72	0d	1	0.89mi
4540 N 39th Ave Phoenix, AZ	2.0	1.0	810	$1,397	$1.72	2d	1	0.89mi
3839 W Hazelwood St Unit 5 Phoenix, AZ	2.0	1.0	995	$1,050	$1.06	25d	1	0.90mi
3839 W Hazelwood St Unit 5 Phoenix, AZ	2.0	1.0	995	$950	$0.95	0d	1	0.90mi
4609 Thomas Rd Phoenix, AZ	3.0	1.5	1159	$1,195	$1.03	0d	1	0.93mi
3807 W Hazelwood St Phoenix, AZ	3.0	2.0	1121	$1,635	$1.46	0d	1	0.95mi
2642 N 43rd Ave Phoenix, AZ	2.0	1.5	1036	$1,050	$1.01	2d	1	0.98mi
2640 N 43rd Ave Phoenix, AZ	2.0	1.0	1036	$1,390	$1.34	2d	1	0.98mi
2627 N 45th Ave Phoenix, AZ	1.0–3.0	1.0–1.5	843	$1,600	$1.90	2d	1	0.98mi
4326 N 35th Ave Phoenix, AZ	2.0	1.0–2.0	520	$1,299	$2.50	0d	1	0.98mi
2808 N 43rd Ave Unit B Phoenix, AZ	2.0	1.5	1106	$1,695	$1.53	2d	1	0.99mi
2808 N 43rd Ave Phoenix, AZ	2.0	2.0	1106	$1,695	$1.53	2d	1	0.99mi
2658 N 43rd Ave Unit A Phoenix, AZ	3.0	2.0	1106	$1,850	$1.67	25d	1	0.99mi
2652 N 43rd Ave Phoenix, AZ	2.0	1.5	1036	$1,050	$1.01	25d	1	1.00mi
2652 N 43rd Ave Phoenix, AZ	3.0	2.0	1106	$1,199	$1.08	2d	1	1.00mi
4647 N 39th Ave Phoenix, AZ	1.0–2.0	1.0–1.5	727	$1,000	$1.37	0d	1	1.00mi
2636 N 43rd Ave Phoenix, AZ	2.0	1.0	957	$1,095	$1.14	11d	1	1.00mi
2636 N 43rd Ave Phoenix, AZ	2.0	2.0	1036	$1,095	$1.06	2d	1	1.00mi
2674 N 43rd Ave Apt C Phoenix, AZ	2.0	1.5	1036	$995	$0.96	2d	1	1.01mi
2674 N 43rd Ave Phoenix, AZ	2.0	2.0	1036	$995	$0.96	2d	1	1.01mi
2807 N 45th Dr Phoenix, AZ	3.0	2.0	1394	$1,800	$1.29	0d	1	1.01mi
2804 N 43rd Ave Apt D Phoenix, AZ	3.0	2.0	1106	$1,195	$1.08	2d	1	1.01mi
2696 N 43rd Ave Unit 33C Phoenix, AZ	2.0	1.5	1036	$1,500	$1.45	2d	1	1.04mi
4336 N 35th Ave Unit 238 Phoenix, AZ	2.0	2.0	822	$1,099	$1.34	13d	1	1.07mi
4336 N 35th Ave Unit 202 Phoenix, AZ	2.0	2.0	822	$1,099	$1.34	2d	1	1.11mi
4903 W Thomas Rd Phoenix, AZ	2.0	1.0	521	$1,505	$2.89	0d	30	1.12mi
4201 N 35th Ave Phoenix, AZ	1.0–2.0	1.0	588	$1,399	$2.38	0d	3	1.13mi
4235 N 35th Ave Phoenix, AZ	1.0–3.0	1.0	750	$1,750	$2.33	0d	13	1.13mi
4749 N 39th Dr Phoenix, AZ	3.0	2.0	1280	$1,720	$1.34	0d	1	1.14mi
3030 N 35th Ave Phoenix, AZ	2.0	1.0	540	$1,300	$2.41	0d	48	1.20mi
4009 W Palomino Rd Phoenix, AZ	2.0	2.0	924	$1,456	$1.58	0d	1	1.22mi
3959 W Palomino Rd Phoenix, AZ	2.0	1.0	924	$1,300	$1.41	0d	1	1.22mi
4029 W Mesquite Ln Phoenix, AZ	2.0	1.0	924	$1,195	$1.29	23d	1	1.27mi
5030 N 40th Ave Phoenix, AZ	2.0	1.0	924	$1,100	$1.19	0d	1	1.27mi
4056 W Mesquite Ln Phoenix, AZ	3.0	1.5	1005	$1,500	$1.49	2d	1	1.28mi
5040 N 40th Ave Phoenix, AZ	2.0	1.0	924	$1,195	$1.29	0d	1	1.28mi
5041 N 40th Ave Phoenix, AZ	3.0	1.0	1005	$1,195	$1.19	0d	1	1.29mi

HOA detail

• Monthly dues: $370 · $4,440/yr
• Likely covers: watersewertrashgaselectricpool

Listing history 14 events

1. 2026-06-21
   days on market $90,000 Active 20 DOM
2. 2026-06-18
   days on market $90,000 Active 17 DOM
3. 2026-06-17
   days on market $90,000 Active 16 DOM
4. 2026-06-16
   days on market $90,000 Active 15 DOM
5. 2026-06-15
   days on market $90,000 Active 14 DOM
6. 2026-06-13
   days on market $90,000 Active 12 DOM
7. 2026-06-13
   days on market $90,000 Active 11 DOM
8. 2026-06-09
   days on market $90,000 Active 8 DOM
9. 2026-06-08
   days on market $90,000 Active 7 DOM
10. 2026-06-07
    days on market $90,000 Active 6 DOM
11. 2026-06-04
    days on market $90,000 Active 3 DOM
12. 2026-06-03
    days on market $90,000 Active 2 DOM
13. 2026-06-02
    remarks 386-char remark
14. 2026-06-02
    listed $90,000 Active 1 DOM

ⓘ 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: $477 · $40/mo
• Projected year-2 tax: $594 · $50/mo
• Expected delta: +$117/yr (+$10/mo · 24.4%)

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

Taxation est. · year 1

• Rental income: $17,985
• − Mortgage interest: −$5,041
• − Property taxes: −$477
• − Insurance: −$450
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − HOA: −$4,440
• − Depreciation: −$2,618
• Taxable income: $2,081
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $2,678/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): 31,191
• Household income: $70,412
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 822.0

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: Predominantly Hispanic (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 19% White 13% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 74%
• Foreign-born: 30% · Canada, United Kingdom
• Languages at home: 37% English-only · Spanish 60%

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: ▼ -139.76%
• Current HPI: 456.0053
• Rent YoY: ▲ 3.09%
• 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

-96.5% since first listed

11 events — show timeline

• 2026-06-01 Listed $90,000 ARMLS
• 2024-09-20 Sold (Public Records) $95,000 Public Records
• 2015-08-13 Sold (Public Records) $43,000 Public Records
• 2013-08-30 Sold (Public Records) $37,000 Public Records
• 2013-08-30 Sold (MLS) $37,000 ARMLS
• 2013-08-23 Pending — ARMLS
• 2013-08-16 Listed $38,000 ARMLS
• 2006-07-20 Sold (Public Records) $119,900 Public Records
• 2000-02-29 Sold (Public Records) $2,300,000 Public Records
• 1996-08-28 Sold (Public Records) $1,860,000 Public Records
• 1984-01-31 Sold (Public Records) $2,600,000 Public Records

Property tax history

-4.9%/yr

Latest (2025): $477 · +2.8% YoY. Source: county tax records.