Rental property pricing in Phoenix

[Allan Brooks]

What are the pricing range for a 1-4 unit home in the Phoenix area ? And what is availability like?

[Ryan Swan]

@Allan Brooks that's a pretty broad question for a city with a population over 1.6M. One unit, aka single family homes, range from $100ks up to multi millions. Anything less than about $200k is going to be pretty junky in Phoenix, as the median home price is now around $300k. 

Small MF properties (2-4) units can have wide price ranges as well, but a general rule of thumb is that most units are selling for around $100k-$150k per door. E.g. - a four unit property in Phoenix are going for around $400,000+ now. Obviously this is not hard and fast, as you can find dramatic variations in list/sold pricing. The biggest impacts on small MF pricing are as follows: #1 location, #2 unit mix (all 2 bed 2 bath?, all 1 bed 1 bath?, some combination?), #3 Age/condition of property, #4 does it have an HOA or not, and #5 the property amenities (ample parking, covered parking, laundry room, w/d in unit, common area, etc)