Real Estate Investing in Phoenix, Arizona (85004)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85004 (Phoenix, AZ)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 20.7% of homes vacant — above national norms.
What’s happening in Phoenix, AZ (85004)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 85004 Phoenix
The 85004 ZIP in Phoenix, AZ is a local-operator market. Outside capital chasing a $418K entry has to pair deep knowledge with the discount.
The investment case in 85004 is robust only for operators who understand what they are buying. A $418K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 85004 and stronger Phoenix ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 85004 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 85004 is an operator game, not a passive one. On balance, entry prices of $418K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Phoenix:
Property Strategy for 85004
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $354,571 | $1,850 | 3.8% | +6.4% | $354,571 |
| 2BR | $446,337 | $2,150 | 3.5% | +6.2% | $223,168 |
| 3BR | $589,198 | $2,870 | 3.5% | +7.4% | $196,399 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 85004 Compare?
| Metric | 85004 | Phoenix | Phoenix-Mesa-Chandler, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $417,610 | $448,314 | N/A | $419,643 |
| 5-Year CAGR | 2.6% | 2.8% | N/A | 6.5% |
| Avg Rent | $1,655 | $1,672 | N/A | - |
| Cap Rate | 3.1% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 85004 (Phoenix, AZ). Anonymous, moderated, never written by AI.
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Property managers serving Maricopa County
Manage rentals here? List your business →Active Renter Property Management offers rental property management services in Phoenix, Arizona, including a 6-month tenant guarantee. summary from their website
Arête Realty and Property Management, LLC offers property management services and real estate expertise in Glendale, Avondale, Chandler, Mesa, Gilbert, Sun City, Paradise Valley, Scottsdale, and Peori summary from their website
Arizona Community Management Services offers a comprehensive suite of services for Association leaders, including board training, financial management, and covenants enforcement, with decades of exper summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $417,610 |
| Monthly Rent | $1,655 |
| Price-to-Rent | 21.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 5.7% |
📈 Home Appreciation
| 1-Year | -1.4% ▼ |
| 3-Year CAGR | -0.7% ▼ |
| 5-Year CAGR | +2.6% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 Rent Trends
| 1-Year | -11.0% ▼ |
| 3-Year CAGR | -3.9% ▼ |
| 5-Year CAGR | -1.4% ▼ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 85004
Population: 11,178
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 85004
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Ralph Waldo Emerson Elementary School
Capitol Elementary School
Garfield School
Mary Mcleod Bethune School
Thomas A Edison School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,209 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do home prices stand in Phoenix, AZ?
Phoenix, AZ home values average about $418K. That price point suits investors targeting rentals with $1,655/mo in monthly income.
Are rents high in Phoenix, AZ?
Rents in Phoenix, AZ run near $1,655/mo. Compared with median home prices of $418K that produces solid gross yields for typical rentals.
What real estate strategy is ideal for Phoenix, AZ?
For Phoenix, AZ, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Does house hacking work in Phoenix, AZ?
House hacking in Phoenix, AZ is reasonable to execute. Prices around $418K and rents of $1,655/mo solid owner-occupant economics.
Are eviction rules reasonable in Phoenix, AZ?
Phoenix, AZ falls under AZ landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 85004 now. You don’t know where it ranks.
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How 85004 ranks in Phoenix-Mesa-Chandler, AZ
Every ZIP in this metro, ranked. Free.
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