1947 E RAYMOND Street, Phoenix, AZ 85040

$425,900

Property Type: Multiple Dwellings Bedrooms: 4 Baths: 4 Status: Closed

Current Price: $425,900 List Date: 9/02/2026 Last Modified: 10/31/2026

Overview

Description

*AFFORDABLE DUPLEX PRICED THOUSANDS BELOW MARKET!* Excellent opportunity for an owner-occupant or investor. Each unit features **2 bedrooms, 2 baths and a private garage**. Both units are currently occupied on a month-to-month basis, providing flexibility for a buyer who wants to **live in one unit and rent the other--potentially reducing monthly housing costs substantially!** FHA, VA and down-payment-assistance buyers welcome. Investors benefit from existing rental income with a **6%+ estimated return** and tenants willing to extend their leases if desired. Property has been self-managed by the builder/seller. Some minor cosmetic updating and repairs would restore the property's shine and provide an opportunity to add value. Affordable multifamily ownership with income already in place.

Listing Details MLS# 7074366

Location, Tax & Legal

House Number: 1947
Compass: E
Street Name: RAYMOND
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Country: US
County Code: Maricopa
Subdivision: PROGRESS PLACE
Assessor Number: 122-32-020-C
Tax Year: 2025

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 6912 sq ft
Year Built: 2020
Uncvrd Parking Spcs: 4
Total # of Units: 2
# of Buildings: Yes
Zoning: R3
Flood Zone: No
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
Elementary School: Percy L Julian School
Jr. High School: Percy L Julian School
High School: South Mountain High School

Remarks Misc

Cross Street: 20 St/ Broadway

Status Change Info

Off Market Date: 2026-10-31
Under Contract Date: 2026-09-19
Close of Escrow Date: 2026-10-30

Legal Info

Lot Number: 20

More Information

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1500
Avg SqFt: 979
# Baths: 2

Structure

Bedrooms Total: 4
Bathrooms Total: 4

Income Expenses

Gross Annual Sch Inc: 36000
Net Operating Income: 28198

Showing Notification Methods

Showing Service: Aligned Showings

Sold Info

Loan Type: FHA
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Seller Assist - A
Buyer Concession $/%: $
Seller Concession to Buyer: 9000
Seller Concession $/%: $

Property Features

Project Type: Duplex Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Tile Sale Includes: Land & Building Community Features: See Remarks Exterior Amenities: Desert Landscaping; Cable TV Available Interior Features: Vertical Blinds Appliances Included: Built-In Electric Oven; Built-In Range; Refrigerator; Disposal; Microwave; W/D Hookup Heating: Central Cooling: Ceiling Fan(s); Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Garage; 1 Space/Unit; Attached Garage Road Access Type: City Street Road Surface Type: Asphalt Road Responsibility: City Maintained Road Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Landscaping Source of Fincl Data: Owner; Books Shwn Accpt Ofr Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; FHA Environmental: None

Listing Office: RE/MAX Excalibur

Office Phone: 480-355-3500

Office Email: Sindy@AzGreatHomes.com

Last Updated: October - 31 - 2026