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$695,000
6 Beds 6 Baths 7060894 MLS
* **9.74% Day-One Cap Rate -- Exceptional Yield in a Single-Family Asset** * **Absolute NNN Structure -- Tenant Reimburses Property Taxes and Insurance** * **Contractual Rental Growth Built Into the Initial 5-Year Lease Term** * **Forward Yield Increases to Approximately 10.43% by Year 5** * **Newly Executed Lease Provides Contractual Income Through 2030** * **Personal Guarantee Supports the Tenant's Lease Obligations** * **More Than $40,000 in Recent Renovations and Capital Improvements** * **Predictable Income Stream Secured by Phoenix Real Estate** * **Built-In Upside Without Renovation, Repositioning, or Intensive Management** * **Rare Combination of Double-Digit Forward Yield and Residential Real Estate** ABSOLUTE NNN SINGLE-TENANT INVESTMENT 5-Year Lease | Built-In Rental Growth | 9.74% Year 1 Cap Rate POSITIONING Bond-Like Income Secured by Real Estate Absolute Triple NNN lease structure Newly executed 5-year lease commencing January 1, 2026 Personal guarantee Two additional 5-year renewal options Monthly base rent increases by $100 each year Tenant's first right of refusal ASKING PRICE: $695,000 EXECUTIVE SUMMARY Gerchick Real Estate is pleased to present a fully stabilized, single-tenant Absolute NNN investment secured by a newly executed 5-year lease. In addition to base rent, the tenant reimburses the landlord for property taxes and insurance, creating a predictable and largely passive income stream. This investment offers: Immediate cash flow Contractual annual rent growth Minimal landlord responsibility Personal guarantee Long-term renewal potential Strong initial and forward yields The property's value is driven by its contractual income stream. This is not an owner-occupant comparable-sale opportunity--it is a yield-focused real estate acquisition. FINANCIAL OVERVIEW Year 1 Income Base Rent: $5,200 per month NNN Reimbursements: $440.25 per month Total Monthly Income: $5,640.25 Total Annual Income: $67,683 Year 1 Cap Rate Purchase Price: $695,000 $67,683 ÷ $695,000 = 9.74% YEAR 1 CAP RATE: 9.74% FORWARD YIELD GROWTH Lease Year Annual Income Yield on Original Purchase Price Year 1 $67,683 9.74% Year 2 $68,883 9.91% Year 3 $70,083 10.08% Year 4 $71,283 10.26% Year 5 $72,483 10.43% By Year 5, the annual yield increases to approximately 10.43% based on the original $695,000 purchase price. FIVE-YEAR CASH-FLOW PROJECTION Assuming an all-cash purchase at $695,000: Lease Year Projected Gross Income Year 1 $67,683 Year 2 $68,883 Year 3 $70,083 Year 4 $71,283 Year 5 $72,483 Total $350,415 TOTAL PROJECTED FIVE-YEAR GROSS INCOME: $350,415 The projected five-year gross income equals approximately 50.42% of the purchase price, providing investors with the potential to recover more than half of the original acquisition cost through gross income during the initial lease term alone. LEASE ABSTRACT Lease commencement: January 1, 2026 Initial lease term: 5 years Renewal options: Two additional 5-year terms Base-rent increases: $100 per month annually Guarantee: Personal guarantee First right of refusal: Provided to tenant Property taxes: Reimbursed by tenant Property insurance: Reimbursed by tenant Lease structure: Absolute NNN INVESTMENT THESIS Why This Asset Performs Attractive 9.74% initial cap rate Contractual annual rent increases Forward yield exceeding 10% beginning in Year 3 Personal guarantee helps reduce investment risk Minimal ongoing management burden Annual increases provide a hedge against inflation Strong Phoenix location Potential for future cap-rate compression Contractual income secured by underlying real estate Two additional 5-year renewal options This structure may appeal to private investors, 1031 exchange buyers, family offices, and yield-focused purchasers seeking stable real estate income without the management demands of a traditional residential rental. BUYER REQUIREMENTS The Seller recognizes that traditional residential appraisal methodology may not fully reflect the value of the property's contractual income stream. All offers must: Be submitted as an all-cash purchase; or Waive the appraisal contingency; and Include acceptable proof of funds This is an income-driven acquisition. DISCLAIMER All information contained herein has been obtained from sources deemed reliable but is not guaranteed. Buyer shall independently verify all information, including but not limited to lease terms, rental income, reimbursements, expenses, property condition, zoning, square footage, and all other material facts.

1927 E Crocus Drive, Phoenix

$622,000
4 Beds 3 Baths 7041652 MLS 2,259 SqFt.
Down payment assistance available for qualified buyers -- own this fully remodeled North Phoenix Spanish Hacienda with little cash out of pocket, plus an optional renewable energy add-on that can lower the monthly payment. Set in the foothills just below Lookout Mountain Preserve, with 300+ acres of trails and a summit hike up the street an active buyer's backyard, minutes from Moon Valley's golf and country clubs and quick SR-51 access to downtown and Sky Harbor. Inside, a vaulted living room with exposed wood beams sets a warm, characterful tone, while oversized north-facing windows frame mountain views from multiple rooms and pull soft, even light through the home all day. The remodeled kitchen showcases new soft-close, dovetail cabinetry and Mona Lisa granite, opening to a den with a wet bar and rustic Saltillo tile for authentic Southwest warmth. The spa-style primary suite delivers an oversized walk-in shower with bench and full-length niche, plus a separate deck-set soaking tub. A light-filled enclosed sunroom -- a permitted addition with its own mini-split -- flexes as office, studio, gym, or guest room. New roof, new windows, and a Mediterranean-style neighborhood where this home truly belongs.

1802 E Crocus Drive, Phoenix

$700,000
4 Beds 3 Baths 6991050 MLS 3,062 SqFt.
This expansive 3,062 sq. ft. home has been lightly lived in by a single, owner occupant of 35 years, contributing to its well-maintained condition and move-in ready appeal. The interior has been refreshed with new flooring, fresh paint, new lighting, and new ceiling fans throughout. The floor plan is designed for flexibility, featuring two large living areas and two dedicated eating areas including a dining room with an Arcadia door that opens to a balcony overlooking the backyard. The kitchen is bright and functional, centered around a large island with windows that look directly out over the pool. The home's 4-bedroom layout includes a substantial mother-in-law suite or secondary sitting room, complete with an additional walk-in closet and direct exterior exit--perfect for guests, home office or multi-generational living. The large primary bedroom serves as a spacious retreat with mountain views. The backyard features mature trees, refreshing pool, relaxing spa, and a gazebo for shaded entertaining. Situated on a generous lot, the property includes a large side yard and a convenient RV gate, offering plenty of room for toys and outdoor activities. No HOA! Key updates over the years include a new roof, HVAC with air scrubber, a resurfaced pool with Pebble Tec and a professional expansion that increased the home's square footage. Walk to Hidden Hills Elementary and Lookout Mountain Park w/Smart Play Areas, Tennis, Workout Stations & Volleyball. Enjoy hiking the numerous trails at Lookout Mountain. Centrally located with easy access to downtown Phoenix, Kierland Commons, Scottsdale Quarter, Desert Ridge, restaurants, 51, 101 and I17 freeways.

1843 E Sheena Drive, Phoenix

$585,000
3 Beds 2 Baths 6967171 MLS 1,851 SqFt.
Tastefully updated and thoughtfully designed, this light and bright home sits on a generously sized lot with an expansive backyard ideal for entertaining and everyday enjoyment. Vaulted ceilings enhance the open floorplan, creating an airy, spacious feel throughout the main living areas. The expansive kitchen features new white cabinetry, quartz countertops, & a large center island, seamlessly opening to the family room highlighted by a beautifully tiled floor-to-ceiling fireplace. Two spacious living areas provide flexible options for relaxing or hosting, while fresh interior & exterior paint, along with new lighting, fans & fixtures, add a clean, modern touch. Both bathrooms have been fully remodeled with stylish finishes, while white cabinetry continues the cohesive design throughout. Step outside to the backyard, featuring newly installed sod, a covered patio, a paved walkway to the gazebo, and a sparkling poolperfect for Arizona living. Additional features include garage storage racks for added organization. This move-in-ready home blends comfort, style, and functionality in every detail. Walk to Hidden Hills Elementary and Lookout Mountain & Park w/Smart Play Areas, Hiking, Tennis, Workout Stations & Volleyball. Centrally located with easy access to downtown Phoenix, Kierland Commons, Scottsdale Quarter, Desert Ridge, restaurants, 51, 101 and I17 freeways.

1909 E Redfield Road, Phoenix

$485,000
4 Beds 2 Baths 6935785 MLS 1,750 SqFt.
Beautifully updated 4 bedroom, 2 bathroom home with 1,750 sq ft of living space on a 6,922 sq ft lot and no HOA. Located just one block from Lookout Mountain Preserve, this home offers easy access to hiking and biking trails, along with a nearby park featuring sand volleyball courts, tennis courts, and a playground. Interior updates include brand-new luxury vinyl plank flooring throughout the main living areas, carpet in the bedrooms, refinished kitchen cabinets with new quartz countertops, a new master bathroom vanity, fresh interior paint, and additional upgrades that make this home move-in ready. The spacious floor plan includes a welcoming living area with a fireplace, a bright kitchen with plenty of storage, and four well-sized bedrooms. Both the front and backyards feature low-maint low-maintenance desert landscaping, providing a clean and easy-care outdoor space. With no HOA restrictions, a prime location near outdoor recreation, and numerous recent improvements, this property is a great opportunity for buyers looking for a well-maintained home in a desirable neighborhood.

1814 E Crocus Drive, Phoenix

$525,000
4 Beds 3 Baths 6872232 MLS 2,345 SqFt.
Welcome Home to Lookout Mountain! Tucked away in the peaceful and established Lookout Mountain subdivision, this is a rare opportunity to write your family's next chapter. For the first time since it was built, this cherished home is ready for a new owner — and a fresh beginning. Imagine creating a space that's truly yours, designed to fit your family's lifestyle and personality. With plenty of room to remodel and customize, you can bring your vision to life — all while getting into the neighborhood under market value. Enjoy the serenity of being just moments from The Pointe Golf Club at Lookout Mountain, with stunning mountain views and trails nearby. Located in the sought-after Paradise Valley School District, it's an ideal setting for raising a family. Plus, with no HOA and an RV gate, you'll have the flexibility and freedom to make this home work for you. This is more than a house  it's a place to grow, dream, and build lasting memories. Don't miss your chance to make it yours. Lennox unit was installed 04-25-2024. The primary bathroom remodel was done in 2018. The carpet was installed in 2020. Will be professionally painted June 2nd, 2025.

1813 E Sheena Drive, Phoenix

$560,000
3 Beds 2 Baths 6839663 MLS 1,650 SqFt.
Beautiful and well-cared home looking for a new owner! Be greeted by low-care desert landscaping, lovely curb appeal, and a 2-car garage for your vehicles. Inside, a brick-accented fireplace is the focal point of the great open layout. Wood-look floors, recessed lighting, and neutral paint can also be found throughout the home. Open-concept kitchen has an island w/breakfast bar and quartz counters, a stylish backsplash, SS appliances, wood cabinets, and a walk-in pantry. Romantic main bedroom has sliding doors to the backyard, a walk-in closet, and a lavish ensuite with a glass enclosure shower and dual sinks. Low-care backyard offers a covered patio for relaxing and gazing at your desert plantings and gorgeous mountains. Seize this opportunity!

1838 E Crocus Drive, Phoenix

$550,000
4 Beds 3 Baths 6837788 MLS 2,003 SqFt.
Freshly painted, newer ACs, no HOA, and stunning mountain views! Step into this beautiful tri-level 4-bedroom, 2.5-bath home, freshly painted inside and out. The spacious kitchen offers custom cabinetry and flows seamlessly into open dining and living areas—perfect for hosting friends and family. Enjoy two separate living spaces, one featuring a cozy fireplace for those cool winter nights. Two newer AC units ensure year-round comfort, while the RV gate with parking provides convenience and flexibility. With no HOA, you can bring all your toys! Outside, the backyard is made for both play and relaxation, featuring an open lawn, mature landscaping, a covered patio, and a HOT TUB —your own private retreat for quiet evenings or weekend entertaining.

1936 E Hearn Road, Phoenix

$700,000
4 Beds 3 Baths 6745956 MLS 2,345 SqFt.
Hey there, future homeowner! I'm Cactus Casa, your desert oasis looking for the one to settle down with. I'm not your typical house - I'm the life of the party and the king/queen of relaxation, all rolled into one. My friends say I'm the perfect blend of cozy and chic, and honestly, I think they're right. I'm all about the outdoor life. With a sparkling pool that's perfect for those hot Phoenix days and an outdoor bar where you can whip up your favorite drinks, I'm the ultimate entertainer. And when the sun sets, my fire pit becomes the perfect spot for roasting marshmallows or cozying up under the stars. I've got mountain views that'll make you swoon! Inside, I'm just as inviting. My rooms are spacious and I'm decked out in desert chic decor! Buy me furnished or vacant, I'm yours!

13838 N 19th Place, Phoenix

$520,000
5 Beds 3 Baths 6698367 MLS 2,222 SqFt.
Seller offering a $10,000 CREDIT to be used as buyer(s) wish. Large 5 bedroom / 3 bathroom home in a prime central Phoenix location with mountain views and nearby mountain preserves and NO HOA. Lookout Mountain for hiking and Lookout Mountain Park are right down the street. You are literally 15 - 20 minutes from major shopping venues like Desert Ridge and the Scottsdale Quarter, downtown Phoenix sports venues, Sky Harbor International Airport, etc. This family friendly neighborhood has something to offer everyone. A recent remodel includes interior and exterior paint, wood look plank style tile in the high traffic areas and new carpet everywhere else. All new electrical with Decora toggle switches and outlets and new white 2'' faux wood blinds. A perfect family home.

1817 E Hearn Road, Phoenix

$600,000
4 Beds 2 Baths 6697398 MLS 2,038 SqFt.
Welcome to this desirable single-level home nestled in the heart of tranquility! This inviting home offers a harmonious blend of friendship, hospitality, relaxation & comfort. Tuscan-influenced interior with earth tones. Open-concept living areas feature high vaulted ceilings, cozy fireplace and wet bar. Prime Location with Mountain Views: close to schools, nearby to preserve & Lookout Mountain for hiking, and to Lookout Mountain Park. Outdoor Oasis w/ built-in Jenn-Air grill & fridge, 12 fruit trees, heated spa & sparkling pool w/ large covered patio. Kitchen w/ breakfast nook, island, stainless steel appliances & ample storage. 4th bdrm can be great for an office. Doors in primary bdrm lead to pool area. New a/c w/transferable 10-year warranty. Don't miss out on this captivating home!

1820 E Ludlow Drive, Phoenix

$639,000
5 Beds 3 Baths 6648536 MLS 2,222 SqFt.
Stunning 5 bed, 3 bath home with a pool & RV gate. The spacious kitchen is a culinary dream with ample cabinets & countertops & stainless steel appliances. On the first floor, enjoy two living rooms, one adjacent to a bed & bath—ideal for accommodating guests with their own private space. Upstairs, discover 4 bedrooms & a remodeled guest bath with a walk-in shower. The master suite is a true sanctuary, recently updated - new flooring & baseboards. Barn doors lead to a spacious updated bathroom retreat - walk-in shower with a rain head, tub & double vanities. Two separate closets provide ample storage. The backyard features a pool, large covered patio, raised garden beds, shed & artificial turf. Not only does this home offer modern updates, but it also has a new roof & 2 new HVAC units both installed in 2019. The property's proximity to the Lookout Mountain Trailhead adds the perfect touch for those who appreciate outdoor activities and hiking.

1915 E Crocus Drive, Phoenix

$540,000
4 Beds 3 Baths 6633991 MLS 2,200 SqFt.
This meticulously maintained home has undergone continuous upgrades since 2020, showcasing a commitment to both aesthetics and functionality. Inside, the transformation is evident with the introduction of higher-end vinyl plank flooring, quality carpeting, and a fresh interior paint. Structural improvements include a new roof, ensuring long-term durability. The kitchen features pristine quartz countertops, dual sinks and newer refig/freezer. In 2023, the homeowner enhanced the living experience by installing a new water heater, refreshing the exterior and garage with a new coat of paint. Stepping outside, the landscaping has been thoughtfully rejuvenated with updated supply lines, drip lines, and heads completed within the last three years. Comprising 4 bedrooms and two-and-a-half baths this residence extends its allure beyond the interior. The large private backyard is an inviting space for both play and relaxation, creating an ideal environment for family and friends to gather. Nature enthusiasts will appreciate the proximity to hiking and nature trails at Lookout Mountain & Phoenix Mountain Preserve, providing endless outdoor exploration opportunities. Adding to its appeal, the residence is conveniently situated just two blocks from Hidden Hills Elementary School, emphasizing its family-friendly character.

13819 N 19th Way, Phoenix

$498,000
4 Beds 2 Baths 6606150 MLS 1,824 SqFt.
A wonderful opportunity to own a 4 bed 2 bath home in the North Central area of Lookout Mountain. Tucked onto a quiet tree lined street this home has been carefully cared for with a new HVAC installed 2023, roof replaced in 2010, gutters installed around the home, outdoor watering system redone in 2021. Large primary suite has exit to the backyard. Double sinks, separate tub/shower, private toilet room with large walk in closet. Split floorplan with 3 bedrooms on the other side and guest bath. Two way fireplace is a fun feature that entertains in both the family and living rooms. Kitchen boasts tons of storage and has an island as well as an eating nook. The formal dining area looks onto the large private back yard with an extensive covered patio. No HOA in this neighborhood.

1809 E Redfield Road, Phoenix

$520,000
3 Beds 2 Baths 6594582 MLS 1,812 SqFt.
The search is finally over! This incredible 3-bedroom, property is the one! Featuring a desert landscape, a 2-car garage w/an extended driveway, a carport space, an RV gate, & a delightful front porch. Be welcomed by the well-sized living room, vaulted ceilings, wood-look flooring, plantation shutters, and a cozy fireplace. The eat-in kitchen is a cook's delight boasting sparkling SS appliances, tile counters, crown moulding cabinetry, a pantry, an island w/a breakfast bar, & a breakfast nook w/a bay window. Retreat to the carpeted main bedroom, showcasing a full bathroom w/dual sinks & a walk-in closet. The sliding glass doors usher you to the expansive backyard, offering a covered patio, pavers, swaying shade trees, & a refreshing hot tub ready to enjoy! Make this gem yours now! Sellers have added over 30k in updates/upgrades, please see documents tab for complete list and receipts

1917 E Ludlow Drive, Phoenix

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