1927 E CROCUS Drive, Phoenix, AZ 85022
Overview
Description
Supplements: ... (Read more) The property is secured by a 5-year NNN lease at $5,200 per month, with annual rent escalations of $1,200 per year in Years 2 through 5, providing built-in income growth. The lease also includes two (2) additional 5-year renewal options, offering long-term stability and downside protection. Landlord Responsibilities: NONE. The tenant is responsible for prorated property taxes, insurance, utilities, pool maintenance, property upkeep, and all operational expenses, allowing ownership to enjoy hands-off income with no management burden. Backed by a tenant with a very strong track record, this investment delivers durable cash flow, annual rent growth, and long-term lease securityan ideal solution for investors prioritizing stability, simplicity, and predictability. Why This Works for Investors Fully leased, stabilized NNN investment Annual rent escalations already built into the lease Two 5-year renewal options for long-term income Experienced, credit-worthy tenant with a strong operating history No landlord responsibilities truly passive ownership Recent capital improvements already completed Immediate cash flow with upside escalations are $100/month each year (=$1,200/year), then the rent schedule is: Year 1: $5,200/mo Year 2: $5,300/mo Year 3: $5,400/mo Year 4: $5,500/mo Year 5: $5,600/mo Assuming this is true NNN (rent H NOI because tenant covers the expenses), here are the cap rates on a $850,000 price: Cap Rate by Year (Price = $850,000) Year Monthly Rent Annual NOI Cap Rate 1 $5,200 $62,400 7.34% 2 $5,300 $63,600 7.48% 3 $5,400 $64,800 7.62% 4 $5,500 $66,000 7.76% 5 $5,600 $67,200 7.91%
Listing Details MLS# 6971140
Location, Tax & Legal
- House Number
- 1927
- Compass
- E
- Street Name
- CROCUS
- St Suffix
- Drive
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85022
- Zip4
- 4512
- Country
- US
- County Code
- Maricopa
- Subdivision
- CAVE CREEK UNIT 3
- Assessor Number
- 214-50-196
- Tax Year
- 2025
- Assessor's Map #
- 50
- Legal Description (Abbrev)
- LOT 525 CAVE CREEK UNIT 3 MCR
- Assessor's Parcel #
- 196
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 103607
- Taxes
- 2590
- Legal
- LOT 525 CAVE CREEK UNIT 3 MCR
- Marketing Name
- NNN Leased Property
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- irr
- Year Built
- 1986
- Uncvrd Parking Spcs
- 2
- Total # of Units
- 6
- # of Buildings
- Yes
- Zoning
- R-3
- Flood Zone
- TBD
- Elementary School District
- Paradise Valley Unified District
- High School District
- Paradise Valley Unified District
Status Change Info
- Off Market Date
- 2026-05-03
- Under Contract Date
- 2026-05-02
Legal Info
- Township
- 3N
- Range
- 3E
- Section
- 10
- Lot Number
- 525
More Information
Income Expenses
- Gross Annual Sch Inc
- 62400
- Net Operating Income
- 62400
Showing Notification Methods
- Showing Service
- Aligned Showings
- Text
- Yes
- Yes
- Phone Call
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 6
- Avg Rent
- 5200
- Avg SqFt
- 1800
- # Baths
- Yes
Project Type
- Other (See Remarks)
- Yes
Construction
- Block
- Yes
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Tile
- Yes
Floors
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- Yes
- Pool Equipment
- Yes
- Laundry Equipment
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 2590
- Other Income
- 5350
- Vacancy Allowance
- 0
- Adjusted Gross Inc
- 67750
Pmt & Rate Info
- Cap Rate
- 7.34
- Equity
- 850000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- Supra
- Yes
- See Private Remarks
- Yes
Community Features
- No Pool
- Yes
Heating
- Heat Pump
- Yes
- Individual
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Heat Pump
- Yes
- Individual
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
- RV/Boat Parking
- Yes
- Cable TV Available
- Yes
- Sidewalk(s)
- Yes
- Patio/Balcony
- Yes
- Security Light(s)
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
- Fire Sprinklers
- Yes
- Vertical Blinds
- Yes
- Mini Blinds
- Yes
- Breakfast Bar
- Yes
- Other (See Remarks)
- Yes
Tenant Pays
- Water
- Yes
- Sewer
- Yes
- Electricity
- Yes
- Trash Collection
- Yes
- Cable TV
- Yes
- Landscaping
- Yes
- Pool Maintenance
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- W/D Hookup
- Yes
Road Access Type
- City Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Books Shwn Accpt Ofr
- Yes
- Other (See Remarks)
- Yes
Road Responsibility
- City Maintained Road
- Yes
Water Source
- City Franchise
- Yes
- Individual Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Garage
- Yes
- Free
- Yes
- On Street
- Yes
- >1 Space Per Unit
- Yes
- Paved
- Yes
- Garage Door Opener
- Yes
- Attached Garage
- Yes
Electric
- APS
- Yes
- Individual Meter
- Yes
Gas
- None
- Yes
Owner Pays
- None
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
- No Carry
- Yes
- Other (See Remarks)
- Yes
Reports/Disclosures
- Seller Prop Disc Stm
- Yes
- APOD/Backup Avaible
- Yes
- Sch of Personal Prop
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
2 Bedroom Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features

