1947 E RAYMOND Street, Phoenix, AZ 85040 (MLS# 7074366)

1947 E RAYMOND Street, Phoenix, AZ 85040

New Listing

$416,900

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

Current Price: $416,900 List Date: 9/02/2026 Last Modified: 9/02/2026

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
Assessor's Map #: 32
Assessor's Parcel #: 20
Assessor Parcel Ltr: C
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 115300
Taxes: 3491
Legal: LOT 20 PROGRESS PLACE MCR 006318
Marketing Name: n/a

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

Legal Info

Lot Number: 20

2 Bedroom Units

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

More Information

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
Text: Yes
Email: Yes
Phone Call: Yes

Project Type

Duplex: Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 792
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 1800
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 1720
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Other Expense: 3490
Operating Exp: 11293
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 36000
Total Monthly Rental Income: 3000

Pmt & Rate Info

Cap Rate: 6.76
Equity: 416900
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

See Remarks: Yes

Heating

Electric: Yes
Central: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes

Exterior Amenities

Desert Landscaping: Yes
Cable TV Available: Yes

Interior Features

Vertical Blinds: Yes

Tenant Pays

Electricity: Yes
Landscaping: Yes

Appliances Included

Built-In Electric Oven: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes
W/D Hookup: Yes

Road Access Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Books Shwn Accpt Ofr: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Garage: Yes
1 Space/Unit: Yes
Attached Garage: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Cash: Yes
VA: Yes
FHA: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

Seller Prop Disc Stm: Yes

Environmental

None: Yes

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

Last Updated: September - 02 - 2026