Last updated on June 21st, 2023
airbnb property for sale Phoenix City Center
Phoenix, the capital of Arizona, is known for its world-renowned resorts and sunny weather! Some of the city’s favorite tourist attractions include the Desert Botanical Garden, Phoenix Zoo, and of course – the Grand Canyon.
Aside from its innate charm to tourists and young professionals, Phoenix is also a major city for property investors who want to engage with its student population. If you are looking to invest in a property where you can maximize profitability in Phoenix, then now is the right time to do so!
To begin with, the major costs and potential revenue are one of the few factors that should be considered before deciding to purchase a property. Another excellent option is to do Airbnb rental arbitrage in Phoenix, since it’s fairly popular and does not require you to purchase a property as a start.
Here’s an interesting fact: Phoenix is also one of the best cities to start an Airbnb!
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“On average, Arizona has had one of the most affordable markets in the country, making it attractive to an extensive range of buyers. The attractive market led to a spike in demand that created two consecutive years of growth.”
– Fast Expert on Phoenix Housing Market
Airbnb occupancy rates by city declare that an average host in Phoenix can earn up to $33,636 during the peak seasons of February. With over 4,614 Airbnb listings in Phoenix, it’s certainly a catch for property investors!
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment, defining property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Phoenix City Center?
Using a short-term rental calculator, it was discovered that a 2-bedroom apartment in Phoenix City Centre can generate an annual revenue of $43,267 with a steady occupancy rate of 61% and a nightly rate of $182.
airbnb property for sale Phoenix City Center
Homes for Sale in Phoenix City Center
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Phoenix City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
Champion Burleson CS1440A, Phoenix, AZ 85032
1. Studio-type Property for Sale in Phoenix
1.4 miles to Paradise Valley High School
Asking Price: $65,899
| GROSS RENTAL YIELD | 18.84% |
| ANNUAL REVENUE | $17,329. |
| CASH ON CASH RETURN | 30.74% |
2571 W Berridge Ln UNIT 220, Phoenix, AZ 85017
2. 1-Bedroom Property for Sale in Phoenix
0.8 miles to Maryland Elementary School
Asking Price: $92,000
| GROSS RENTAL YIELD | 23.15% |
| ANNUAL REVENUE | $21,302 |
| CASH ON CASH RETURN | 43.70% |
16613 N 2nd Ave Unit 152, Phoenix, AZ 85023
3. 2-Bedroom Property for Sale in Phoenix
Near N 2nd Ave
Asking Price: $99,900
| GROSS RENTAL YIELD | 25.15% |
| ANNUAL REVENUE | $25,126 |
| CASH ON CASH RETURN | 49.69% |
6841 W Pierce Ave W Unit 136, Phoenix, AZ 85043
4. 3-Bedroom Property for Sale in Phoenix
Near Westgate and the Cardinal Stadium
Asking Price: $140,000
| GROSS RENTAL YIELD | 29.54% |
| ANNUAL REVENUE | $41,362 |
| CASH ON CASH RETURN | 62.87% |
1322 W Southern Ave, Phoenix, AZ 85041
5. 4-Bedroom Property for Sale in Phoenix
Near W Summerside Rd
Asking Price: $249,900
| GROSS RENTAL YIELD | 27.66% |
| ANNUAL REVENUE | $68,868 |
| CASH ON CASH RETURN | 57.21% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Phoenix such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
