Top 10 Arizona Zillow Investment Listings Ranked by Cash-on-Cash Return
Ten Phoenix-metro Arizona rental listings from Zillow ranked by cash-on-cash return—Mesa, Queen Creek, and Phoenix with Realy metrics and investor notes.
These ten listings were pulled from the Phoenix metro Zillow market (Phoenix, Mesa, Queen Creek, San Tan Valley) and ranked by cash-on-cash return (CoC) using Realy’s Chrome extension—highest CoC first.
Arizona shows a sharp split: two sub-$85K Mesa new-construction lots dominate CoC, one Ahwatukee townhouse is mildly positive, and the rest of the $500K–$2.3M SFR screen is negative under lean assumptions.
This is a screening list, not a buy list. Flag Mesa manufactured/lot product and park fees carefully before treating extreme CoC as underwritable.
Calculation Assumptions Used
| Input | Setting |
|---|---|
| Down payment | 20% · Closing 1% · Rate 6.5% · 30Y fixed |
| Property taxes | 2% of sale value |
| Insurance, vacancy, maintenance, HOA | $0 (add your quotes) |
| Rent | Zillow Rent Zestimate |
At-a-Glance Ranking
| # | Address | Price | Beds/Baths | CoC | Cap Rate | Mo. CF | Rent/mo |
|---|---|---|---|---|---|---|---|
| 1 | 2060 N Center St Lot 72 | $73,900 | 2 / 2 | 98.4% | 26.7% | $1,272 | $1,769 |
| 2 | 2060 N Center St Lot 411 | $80,900 | 3 / 2 | 93.3% | 25.7% | $1,321 | $1,865 |
| 3 | 8861 S 48th St #1 | $274,900 | 2 / 2 | 3.8% | 6.9% | $184 | $2,032 |
| 4 | 14425 N 28th St | $875,000 | 4 / 3 | −8.2% | 4.3% | −$1,262 | $4,621 |
| 5 | 2810 E Omega Dr | $369,900 | 3 / 2 | −8.5% | 4.3% | −$547 | $1,940 |
| 6 | 19475 S 190th St | $649,000 | 5 / 3 | −11.2% | 3.7% | −$1,270 | $3,093 |
| 7 | 16404 S 46th Way | $570,000 | 4 / 2 | −11.9% | 3.6% | −$1,189 | $2,643 |
| 8 | 24063 S 201st Ct | $1,699,000 | 5 / 4 | −16.3% | 2.6% | −$4,848 | $6,575 |
| 9 | 21153 E Starflower Dr | $1,199,995 | 4 / 4 | −19.0% | 2.1% | −$3,983 | $4,085 |
| 10 | 4215 N 42nd St | $2,300,000 | 5 / 6 | −25.4% | 0.7% | −$10,215 | $5,248 |
#1 — 2060 N Center St Lot 72, Mesa AZ 85201
New construction · 2 bed / 2 bath · 960 sqft · $73,900
| Metric | Value |
|---|---|
| Cash-on-cash | 98.4% |
| Cap rate | 26.7% |
| Monthly cash flow | $1,272 |
| Total cash down | $15,519 |
Why it ranks #1: Sub-$75K basis with $1,769/mo Rent Zestimate—extreme CoC under lean assumptions.
Investor notes: Vista Del Sol new construction / builder lot. Confirm land-lease or park fees, HOA, and whether conventional financing applies. Manufactured-community product often needs different underwriting than SFR.
#2 — 2060 N Center St Lot 411, Mesa AZ 85201
New construction · 3 bed / 2 bath · 1,056 sqft · $80,900
| Metric | Value |
|---|---|
| Cash-on-cash | 93.3% |
| Cap rate | 25.7% |
| Monthly cash flow | $1,321 |
| Total cash down | $16,989 |
Investor notes: Same Vista Del Sol community as #1. Same diligence: park/lot fees and insurance.
#3 — 8861 S 48th St #1, Phoenix AZ 85044
Townhouse · 2 bed / 2 bath · 1,050 sqft · $274,900
| Metric | Value |
|---|---|
| Cash-on-cash | 3.8% |
| Cap rate | 6.9% |
| Monthly cash flow | $184 |
| Total cash down | $57,729 |
Investor notes: Only traditional housing product with positive CoC on this screen. Confirm HOA (not modeled). Ahwatukee location.
#4 — 14425 N 28th St, Phoenix AZ 85032
Single family · 4 bed / 3 bath · 2,813 sqft · $875,000
| Metric | Value |
|---|---|
| Cash-on-cash | −8.2% |
| Cap rate | 4.3% |
| Monthly cash flow | −$1,262 |
Investor notes: $25K price cut (Jun 18). 61 days on market. Showcase listing.
#5 — 2810 E Omega Dr, San Tan Valley AZ 85143
Single family · 3 bed / 2 bath · 1,785 sqft · $369,900
| Metric | Value |
|---|---|
| Cash-on-cash | −8.5% |
| Cap rate | 4.3% |
| Monthly cash flow | −$547 |
Investor notes: $5K price cut (Jul 14). 54 days on market. Showcase listing.
#6 — 19475 S 190th St, Queen Creek AZ 85142
Single family · 5 bed / 3 bath · 3,140 sqft · $649,000
| Metric | Value |
|---|---|
| Cash-on-cash | −11.2% |
| Cap rate | 3.7% |
| Monthly cash flow | −$1,270 |
Investor notes: $2,990 price cut (Jun 28). 87 days on market.
#7 — 16404 S 46th Way, Phoenix AZ 85048
Single family · 4 bed / 2 bath · 1,800 sqft · $570,000
| Metric | Value |
|---|---|
| Cash-on-cash | −11.9% |
| Cap rate | 3.6% |
| Monthly cash flow | −$1,189 |
#8 — 24063 S 201st Ct, Queen Creek AZ 85142
Single family · 5 bed / 4 bath · 4,007 sqft · $1,699,000
| Metric | Value |
|---|---|
| Cash-on-cash | −16.3% |
| Cap rate | 2.6% |
| Monthly cash flow | −$4,848 |
Investor notes: RV gate noted on listing. Large lot (0.73 acres). Luxury basis vs. rent disconnect.
#9 — 21153 E Starflower Dr, Queen Creek AZ 85142
Single family · 4 bed / 4 bath · 3,071 sqft · $1,199,995
| Metric | Value |
|---|---|
| Cash-on-cash | −19.0% |
| Cap rate | 2.1% |
| Monthly cash flow | −$3,983 |
Investor notes: 54 days on market. Showcase listing.
#10 — 4215 N 42nd St, Phoenix AZ 85018
New construction · 5 bed / 6 bath · 3,401 sqft · $2,300,000
| Metric | Value |
|---|---|
| Cash-on-cash | −25.4% |
| Cap rate | 0.7% |
| Monthly cash flow | −$10,215 |
Investor notes: Arcadia-area new construction. $483K cash down. Not a cash-flow play.
Arizona Patterns
| Pattern | Takeaway |
|---|---|
| Sub-$85K Mesa lots | #1–2 dominate CoC—verify park/lease structure |
| Townhouse edge | #3 Ahwatukee is only conventional positive CoC |
| Queen Creek $650K+ | Negative CoC at list in growth corridor |
| vs. Texas | Compare Dallas top 10 for stronger SFR cash-flow screens |
Screen Arizona in Realy
- Install Realy
- Search Phoenix, AZ with max-price and property-type filters
- Sort by cash-on-cash in the analyzer
Related: When high cap rate is a trap · 10 red flags on Zillow