2719 W Maryland Ave · Phoenix, AZ 85017

$1,385,000

72 bd · 64.0 ba · 2,106 sqft · MultiFamily public records · 1 Days on market

Built 1971 9,120 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.7/30.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.3/10.0
• 1% rule +1.2/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

2719 W Maryland Ave is a value add opportunity consisting of 8 units across two buildings on C-2 zoning. 7 of the 8 units are boarded up and not accessible, and one unit is occupied (front single family residence). This property is bank owned, and appears 12.8% occupied. Please contact broker for additional details.

Key facts

• Repaved asphalt
• New roof
• 9,120 sq ft lot

Tags

• EXTENSIVELY RENOVATED
• REPLACEMENT OF ALL PLUMBING
• NEW ELECTRICAL SYSTEMS
• NEW ROOF
• REPAVED ASPHALT
• FULLY RENOVATED UNIT INTERIORS

Property features AI

Exterior

• Parking: Twelve total parking spaces; Paved parking; Approximately 1 space per unit
• Utilities: SRP electric service; Public sewer; City franchise water
• Home design: Fee simple ownership; Two buildings on the property
• Construction: Wood frame and block construction; Painted exterior; Built-up roof
• Exterior features: Asphalt road access; No community pool

Interior

• Kitchen: Built-in range; Microwave; Refrigerator; Disposal
• Flooring: Vinyl flooring
• Heating & cooling: Electric heating; Individual electric cooling
• Interior features: Built-in range; Disposal; Microwave; Refrigerator; Other appliances as noted; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 6×1bd/1.0ba + 1×2bd/1.0ba + 1×?bd/1.0ba units multifamily listed at $1.39M.

Deal economics

• At list price, monthly cash flow is $-3k ($-34k/yr) — negative. Per door: $-352/mo.
• To cash-flow at today's rent, offer at most $977k (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $855k (38.3% below list).
• Recommended offer: $855k (38.3% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents soft (-0.3%/yr); 87 active listings in the ZIP; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• At $8,549/mo this rent would consume 176% of the median local household income ($58k/yr) (locally 1843% 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 $10k of loan paydown is wiped out by about $42k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 20y 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 $680k; list at $1.39M implies a 104% 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 $854,900 (38.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.62% ✗
• Cap rate: 3.85%
• Cash-on-cash: -8.72%
• DSCR: 0.61
• GRM: 13.5

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: -35.1%
• Equity multiple: -0.11×
• Total profit: $-428,816
• Equity at exit: $206,508

10-year hold

• IRR: -69.0%
• Equity multiple: -0.81×
• Total profit: $-700,790
• Equity at exit: $119,749

Cash invested: $387,800 (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 85017

• Home prices YoY: -14.4%
• Rents YoY: -0.3%
• Active inventory: 87
• Price-to-rent: 110.6×

Monthly cashflow live

• Estimated rent: $8,549 high
• Mortgage (P&I): −$7,263
• Tax est. 1.5%: −$1,731 /mo · $20,775/yr
• Insurance: −$577
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,795
• Net cashflow: $-2,818

Break-even live

Break-even rent $12,116

Max offer price $977,272

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$6,258
1× unit	2	1	$1,208
1× unit	0	1	$1,082
Total (8 units)			$8,549

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: $346,250
• Closing costs: $41,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $1,385,000 Active 1 DOM

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

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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $102,588
• − Mortgage interest: −$77,582
• − Property taxes: −$20,775
• − Insurance: −$6,925
• − Repairs & maintenance: −$8,207
• − Management: −$8,207
• − Depreciation: −$40,291
• Taxable loss: −$59,399
• Est. tax savings @ 24.0%: +$14,256
• After-tax cash flow: $-19,557/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 — 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): 46,129
• Household income: $58,346
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 1843.0

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 0.58)
• Race & ethnicity: Hispanic / Latino 61% Two or more races 31% White 20% Black 10% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Iranian 1% Italian 1% Portuguese 1%
• Foreign-born: 31% · Canada, Philippines, Vietnam
• Languages at home: 40% English-only · Spanish 51% Other Asian/Pacific 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: ▼ -79.21%
• Current HPI: 471.0211
• Rent YoY: ▼ -0.33%
• 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

+729.3% since first listed

32 events — show timeline

• 2026-06-17 Listed $1,385,000 ARMLS
• 2024-12-03 Sold (MLS) $680,000 ARMLS
• 2024-12-02 Pending — ARMLS
• 2024-10-31 Listed $800,000 ARMLS
• 2022-01-14 Price Changed $1,156 RENT.
• 2020-01-27 Sold (Public Records) $530,000 Public Records
• 2012-11-09 Sold (Public Records) $185,000 Public Records
• 2012-10-31 Sold (MLS) $185,000 ARMLS
• 2012-10-28 Pending — ARMLS
• 2012-06-05 Relisted — ARMLS
• 2012-06-01 Listing Removed — ARMLS
• 2012-05-21 Relisted — ARMLS
• 2012-05-17 Pending — ARMLS
• 2012-02-22 Listed $230,000 ARMLS
• 2011-03-11 Sold (MLS) $93,500 ARMLS
• 2011-03-09 Sold (Public Records) $93,500 Public Records
• 2011-02-04 Pending — ARMLS
• 2010-11-12 Listed $110,000 ARMLS
• 2010-07-02 Listing Removed — ARMLS
• 2010-01-07 Listed $184,000 ARMLS
• 2008-09-11 Listing Removed — ARMLS
• 2008-05-08 Listed $399,000 ARMLS
• 2008-04-23 Listing Removed — ARMLS
• 2008-02-27 Listed $420,000 ARMLS
• 2006-05-09 Sold (Public Records) $350,000 Public Records
• 2006-04-30 Listing Removed — ARMLS
• 2006-02-01 Listed $365,000 ARMLS
• 2004-05-03 Sold (Public Records) $250,000 Public Records
• 1998-02-11 Sold (Public Records) $150,000 Public Records
• 1995-02-15 Sold (Public Records) $100,000 Public Records
• 1986-06-09 Sold (Public Records) $198,000 Public Records
• 1985-02-04 Sold (Public Records) $167,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $2,493 · +2.1% YoY. Source: county tax records.