So, I've been researching different areas in Phoenix, AZ to invest (duplex). I want to invest in an area that's low in crime, doesn't have to be the best neighborhood, but at least meet the average for that area at the most. I'm looking for a C+ neighborhood that is in the beginning or in the process of being gentrified as I plan to move there after next Thanksgiving this year. I want it to be close to the local hospital, schools, place of business so that it'll be easy for tenants to transmute to and from work, and in an area that's close to everything such as retail, food, leisure activities, things for kids, etc. It doesn't have to be like right down the street, though that would be nice, but not like an hour drive either, because what if my tenants have no car?
I've found a few places and researched them as much as possible for information, but a lot of what I'm looking for is hit or miss. Meaning, I can't find the desired information for a lot of neighborhoods or it's out dated.
So far, I've looked up:
1. Cave Creek
2. Carefree
3. Desert View
4. North Gateway
5. Deer Valley
6. New Village
7. Desert Ridge
8. Central City (Central City South)
9. Black Canon
10. Coronado
11. Roosevelt Row
12. Evans Churchill
13. Grant Park
I like what I've found so far on Central City South, Roosevelt Row, and Evans Churchill, but I still don't have quite all of the information I need yet as well as for the other areas.
Is there anyone here from Phoenix, or an experienced investor who knows the Phoenix, AZ market well enough to advise me?
At the current moment, all I was able to get was that Roosevelt Row is going to be turned into a garden/art house and that they are going to improve the area as well as Central City South. I know they're both close to downtown Phoenix, so that is a plus, but is that all they're close around? What are the neighborhoods like and at night? Is is a good market for multi family investing? If not, where is? What is the crime rate for each of these areas and the volume for each part of a neighborhood since some neighborhoods can be bad, but also have some better quality, safer parts to it. Also, what are the median incomes for singles, family? Are there mostly students, elderly, middle age, working class, etc? I'm trying to get a clear perspective on the poverty and unemployment level, etc. to get a better understanding of what a neighborhood is worth and how much to expect to invest in a property/charge for rent. I also need to know this to help me decide what my income requirement for my future tenants will be.
P.S.
If there is anything critical or small that I have missed that will deem as a determining factor in where to invest, please chime in. I am welcoming anything and would appreciate some good references and links or even additional neighborhoods I may be looking over. Any and all help is welcome and much needed. I am also taking a week long trip there in May to see for myself, but want to make the job a little more easier and narrow my focus to concentrate on only what I have on my list and not get overwhelmed with anything outside of my interest.
Thank you guys so much! You rock!
