House flipping in Phoenix can be lucrative if done right and during certain real estate market conditions. The city has a growing population, many of which are transplants from the San Francisco Bay Area as that area’s home values have skyrocketed in recent years.
The home values in Phoenix have increased since the Great Recession ended, making the market competitive for house flippers. The city has a lower unemployment rate than the rest of the state. Phoenix is in a prime location for people who like the outdoors and a relaxed lifestyle. Also, there are many homes built in previous decades that are prime for fixing up for house flippers.
Key House Flipping Statistics for Phoenix
|Population||1,626,079 and five year growth rate of 11%|
|Income||Average Household Income of $61,506 and 5 year growth rate of 11.8%|
|Home Value||Average price of 3 bedroom 2 bath home of $222,700, and 5 year growth rate of 38%|
|Cost of Living||Phoenix is 93.7 vs 100 for the U.S. cost of living index|
|New Home Starts||31,343|
Phoenix Property Taxes
The median property tax in Maricopa County, Arizona is $1,418 per year for a home worth the median value of $238,600. Maricopa County collects, on average, 0.59% of a property’s assessed fair market value as property tax.
The average yearly property tax paid by Maricopa County residents amounts to about 2.06% of their yearly income.
For properties considered the primary residence of the taxpayer, a homestead exemption may exist.
Other Key Information
Flood Zones in Phoenix (Maricopa County) include:
- Regulatory floodway not within the 100-year floodplain
Maricopa County Floodplain Information:
City of Phoenix floodplain management site includes maps and rating of the Special Flood Hazard Areas within the City.
FEMA Flood Map Service Center:
Maricopa GIS floodplain viewer:
|Phoenix Crime Rate||402.9 crime index versus 280.5 U.S. average|
Neighborhoods to Flip Houses in Phoenix
North Phoenix / Anthem
Median home value in Anthem is $324,300. Public schools are good in this neighborhood and also great for families, although nightlife is lacking here.
Median home value in this neighborhood is $433,500. Scottsdale has plenty of bars and restaurants, giving it a strong social atmosphere and nightlife. Many young professionals and retirees move to Scottsdale and the public schools in Scottsdale are of great quality.
Southeast Valley / Chandler
Chandler has a median home value of $268,000 and is good for families and has very good public schools. Nightlife is decent but crime levels are somewhat high in comparison to other areas of Phoenix.
House Flipping Resources in Phoenix
Financing Real Estate Deals in Phoenix
Many Phoenix area foreclosures can be found online
Arizona Superior Court Foreclosure Laws
Maricopa County online foreclosure listings
Superior Court of Maricopa County
Maricopa County Courthouse, 125 W. Washington St., Phoenix, Arizona
Mariocopa County Assessor’s Office
Maricopa County Treasurer’s Office Understanding the Tax Bill
Maricopa County Assessor Parcel Viewer
City of Phoenix Zoning Maps
Maricopa County Property and Zoning
Maricopa GIS Mapping Applications
Maricopa County Assessor Search for Parcels
Maricopa County Assessors Residential Property
Maricopa County Recorder
Building Code and Permits
Maricopa County Planning and Development
Maricopa County Permits
Maricopa County Obtain Building Permits / Plans
Maricopa County Residential Construction
Maricopa County Permitting Process
Maricopa County Construction Codes
Phoenix House Flipping Tips
A good way to purchase fix and flip properties is at the Trustee Auctions downtown and around the valley. There is a $10,000 cashiers check that must be paid to the auctioneer. Also, hire an agent to sell your house for you.
Don’t pay too much for a house. All the profits are based upon the purchase price before adding renovation costs and fees. Don’t think that you will make a lot of money on the backend and ignore getting a good deal on the front.
What to Look Out For
Look out for good contractors you learn about locally. Don’t try to fix the house yourself just to save money unless you are very experienced. This can lead to extended rehab times and more unexpected costs.
Real Estate Flipping and Investing Groups in Phoenix
Real Estate Investors Groups through meetup
Arizona Real Estate Investors Association
Phoenix Real Estate Club
Phoenix House Flipping Outlook
Many homes were built in previous decades that are prime for fixing up for house flippers in Phoenix. Phoenix is in a prime location for people who like the outdoors and a relaxed lifestyle.
The city has a lower unemployment rate than the rest of the state. The city has a growing population, many of whom come from outside the area looking to buy homes. The home values in Phoenix have increased over the last several years, making the market competitive for house flippers.
In a nutshell, house flipping in Phoenix can be lucrative when the real estate market conditions are favorable.