In looking at the area and the pictures, this property is a good deal nicer than any of the small multifamily properties in the valley, and it is also cheaper than most of the rundown duplexes in the area. 

Regarding asset prices, I realize the SF Bay Area is a unique animal (geographically constrained land, bound by oceans and mountains, and it has Silicon Valley as well as difficult development requirements - it's a unique ecosystem, that's for sure) but it doesn't seem to me that rent control has negatively affected prices that much.

I am a new investor in the Phoenix area working toward buying my first rental property in the Phoenix Valley market.For anyone investing in the Phoenix area, what cities and at what price points are you finding success in order to cash flow positively for single family and 2-4 plex properties?

When I lived in Toronto Canada I bought a house in Silicon Valley and rented it out for a year.

And these examples are the BEST current examples in this price point in the Vegas Valley..In my class A neighborhood, houses sell for $500-600k and rent for $1900-2900..  

Fresh air,clean water and the distant sound of a river is peaceful and soothing.

Fresh air,clean water and the distant sound of a river is peaceful and soothing.

@craigSchneiderYes, is in the incorporated village of Valley stream.Expected Rent for each unit is $2,500 @2 =5,000Properties around are duplex and are tenant occupied but great point, I'll need to have more talking with the neighbors around as well.

I am living out in the West Valley and am seeing a price range for these from like $300k up to $1 million.

Downtown Austin is getting so expensive now and it might become another silicon valley in terms of real estate.