3717 W Latham St · Phoenix, AZ 85009

$160,000

4 bd · 1.0 ba · 856 sqft · SingleFamily public records · 6 Days on market

Built 1952 6,460 sqft lot Est $268k · 40% under

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.3/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Rent growth +1.0/5.0
• Appreciation +0.0/10.0

Key facts

• 6,460 sq ft lot
• Built 1952
• Listed 6 days

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Utilities: City water; Public sewer
• Home design: Single-family residence; Fixer condition; Fee simple ownership
• Construction: Painted block construction; Composition roof
• Exterior features: Block and chain-link fencing; Alley access; Dirt at the back of the lot; Gravel/stone at the front of the lot

Interior

• Bedrooms: Up to 4 possible bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Floor furnace heating; Wall furnace heating
• Interior features: No laundry facilities on site
• Laundry & utility: No laundry facilities on site

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.9% 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.
• 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: Carl Hayden High School (math 7% / reading 11%, grade F, #356 of 381 statewide, top 94%, 2,217 students, 93% FRL).
• Market conditions: Rents falling (-6.0%/yr); 107 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 38% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $35k; list at $160k implies a 353% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1952 — 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: 1.03% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $267,928
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3825 W Latham St	0.15mi	3/1.0 (-1)	910 (+6%)	6mo	$236,000	$259	73
1642 N 38th Ave	0.50mi	3/1.5 (-1)	863 (+1%)	2mo	$270,000	$313	66
3935 W Palm Ln	0.69mi	3/1.0 (-1)	880 (+3%)	7mo	$289,500	$329	52
3619 W Taylor St	0.46mi	3/2.0 (-1)	944 (+10%)	2mo	$329,000	$349	51
1328 N 41st Ave N	0.54mi	3/1.0 (-1)	962 (+12%)	2mo	$290,000	$301	47
1830 N 37th Dr	0.59mi	3/1.0 (-1)	820 (-4%)	17mo	$275,000	$335	46
2001 N 39th Ave	0.68mi	3/1.0 (-1)	960 (+12%)	4mo	$295,000	$307	40
4220 W Fillmore St	0.73mi	3/1.0 (-1)	912 (+6%)	13mo	$311,000	$341	39
3143 W Garfield St	0.70mi	3/1.0 (-1)	916 (+7%)	17mo	$221,000	$241	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.81×
• Total profit: $-8,682
• Equity at exit: $23,857

10-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $2,000
• Equity at exit: $13,834

Cash invested: $44,800 (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 85009

• Home prices YoY: -29.7%
• Rents YoY: -6.0%
• Active inventory: 107
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$839
• Tax from tax record: −$50 /mo · $599/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $348

Break-even live

Break-even rent $1,210

Max offer price $160,000

Occupancy floor 74%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3830 W McDowell Rd Phoenix, AZ	3.0	1.0	679	$1,449	$2.13	1d	1	0.45mi
3331 W Taylor St Phoenix, AZ	1.0–3.0	1.0–2.0	1000	$1,530	$1.53	1d	17	0.64mi
475 N 43rd Ave Phoenix, AZ	2.0–3.0	2.0	985	$1,677	$1.70	1d	8	0.80mi
3324 W Jackson St #1 Phoenix, AZ	3.0	1.0	1050	$1,900	$1.81	1d	1	1.13mi
3310 W Jackson St Unit 2 Phoenix, AZ	3.0	1.0	823	$1,450	$1.76	24d	1	1.15mi
2652 N 43rd Ave Phoenix, AZ	3.0	2.0	1106	$1,199	$1.08	1d	1	1.47mi
2658 N 43rd Ave Unit A Phoenix, AZ	3.0	2.0	1106	$1,850	$1.67	24d	1	1.48mi

Listing history 4 events

1. 2026-05-17
   status Pending
2. 2026-05-09
   listed $160,000 Active
3. 1988-04-28
   soldstatus $35,349
4. 1985-01-11
   soldstatus $30,000

ⓘ 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: $599 · $50/mo
• Projected year-2 tax: $1,056 · $88/mo
• Expected delta: +$457/yr (+$38/mo · 76.4%)

ⓘ 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 · 19 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: $19,798
• − Mortgage interest: −$8,962
• − Property taxes: −$599
• − Insurance: −$800
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,655
• Taxable income: $1,614
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $3,785/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): 52,064
• Household income: $52,054
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2121.0

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 (81%)
• Race & ethnicity: Hispanic / Latino 81% Two or more races 34% White 9% Black 5% Native American 3%
• Hispanic origin (detail): Mexican 73%
• Foreign-born: 32% · Canada
• Languages at home: 31% English-only · Spanish 67%

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: ▼ -172.78%
• Current HPI: 409.6161
• Rent YoY: ▼ -5.98%
• 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

+433.3% since first listed

4 events — show timeline

• 2026-05-17 Pending — ARMLS
• 2026-05-09 Listed $160,000 ARMLS
• 1988-04-28 Sold (Public Records) $35,349 Public Records
• 1985-01-11 Sold (Public Records) $30,000 Public Records

Property tax history

-3.1%/yr

Latest (2025): $599 · -1.2% YoY. Source: county tax records.