ZIP CODE 85032 // PHOENIX-MESA-CHANDLER, AZ // DATA AS OF 2026-09-30
Phoenix, AZ (85032) Rental Property Cap Rate & Cash Flow Report
Located in Maricopa County (Phoenix, AZ), Zip Code 85032 ranks #332 of 500 within this selected sample (34th percentile) with a Zillow ZHVI typical home-value index of $449,147 (+1.1% YoY) and a ZORI observed market rent of $1,597/mo (+3.1% YoY). Requires at least 64.5% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$1,264/mo
Annual: -$15,163/yr
Modeled Cap Rate
2.69%
NOI: $12,091/yr
Cash-on-Cash Return
-14.68%
Cash Needed: $103,304
1% Rule Ratio
0.36%
Gross Yield: 4.27%
Break-Even Rent
$3,049/mo
State Tax: 0.52%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 85032 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (AZ Avg 0.52%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$2,271/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$589/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (85032)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $404,830 | $1,477/mo | 4.38% |
| 2022 | $476,424 | $1,562/mo | 3.93% |
| 2023 | $450,347 | $1,584/mo | 4.22% |
| 2024 | $461,738 | $1,590/mo | 4.13% |
| 2025 | $444,187 | $1,549/mo | 4.18% |
| 2026 | $449,147 | $1,597/mo | 4.27% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 85204 Mesa, AZ | $387,919 | $1,376/mo | 2.68% | -$1,094/mo |
| 85308 Glendale, AZ | $467,433 | $1,707/mo | 2.79% | -$1,276/mo |
| 85383 Peoria, AZ | $636,043 | $2,343/mo | 2.83% | -$1,718/mo |
| 85142 Queen Creek, AZ | $586,082 | $2,206/mo | 2.91% | -$1,542/mo |
| 85301 Glendale, AZ | $305,492 | $1,166/mo | 2.96% | -$790/mo |
| 85338 Goodyear, AZ | $432,143 | $1,688/mo | 3.06% | -$1,084/mo |