Rented normally, it costs you $399 a month. That is $4,793 a year, every year you hold it.

The rent is our own estimate, not a signed tenancy. The shortfall is not a data problem: at this price, on these costs, the rent does not cover what it takes to hold it. It only works if you are buying for the capital growth, or buying it cheaper.

16 W Encanto Boulevard #619, Phoenix, AZ 85003 · 1,428 sqft · $259/sqft

2 BED APARTMENTListed 105d ago

$370,000

List price

Monthly profit

−$399/mo

Cash needed

$101K

+ refurb costs

Return after costs

-2.4%

Cash return

-4.8%

Caution

Rented normally at the asking price, this only works if you can fix what is flagged below — 7.16% return before costs on price.

Why it works

7.57% return before costs — above-market
Rent over price, before any costs. Useful for comparing streets; it is not money you keep.Two properties on the same yield can leave you very different amounts. See what you keep →

Why to be cautious

Monthly profit −$399/mo — significantly negative — real recurring drain
You would be topping it up every month, from your own income, for as long as you hold it.That can still be the plan if you are buying for capital growth — but it should be a decision, not a surprise. Try your own numbers →
No rent comparables — estimate is a rule-of-thumb fallback, not market data. Verify the rent locally before offering.

Research, not financial advice · how we decide →

One card is deliberately absent. Renting it by the room — Only 2 bed — too small for an HMO (3+ unrelated tenants from 2+ households) without major reconfiguration.

Ready to move on this deal?

Generates an offer pack with your numbers & sources — take it to the agent.

Listing seen …