One Phoenix‑area rental property. Three ways to run it.
Before you buy, decide what kind of rental business you're buying. The free Phoenix Rental Strategy Scorecard compares the same house as a traditional rental, a Section 8 voucher rental, and rent-by-the-room.
Traditional rental
One lease, tenant usually pays utilities. The simplest rental to run.
Most first rentals go wrong before closing.
Not because the house is bad, but because the investor never decided how they'd run it.
The calculator guess
You plug a listing into an online calculator, get one number, and buy on it. It doesn't know the difference between one lease and four.
The Phoenix surprises
AC replacement, summer utility bills, and HOA rules change the math here more than most spreadsheets assume.
Strategy after the purchase
Some houses work as a traditional rental but not by the room, or the other way around. Decide first, then buy.
Run the Scorecard on an example property.
An example Goodyear / Avondale house (3–4 bed, about 1,700–2,100 sq ft). Not a listing. Switch strategies, move the numbers, and add your lender's payment to see what's left.
Your inputs
Goodyear median sale price was about $477K (Redfin, 3 months ending Aug 2026).
Current 3-bed asking rent in ZIP 85338 is about $2,050 (Zillow, Sept 2026).
Example range: about $800–$925 per room.
City zoning, occupancy limits, and HOA rules can cap this. Check each property.
Principal, interest, taxes, and insurance from your lender. We don't quote rates.
| Side by side | Traditional | Section 8 | By the room |
|---|
Example only. Not a guarantee of rent, income, return, or property value. Section 8 contract rent is approved by the housing authority based on comparable homes, so it's modeled at market rent; the 2026 HAMC 3-bed payment standard for ZIP 85338 ($2,727) is a ceiling, not the rent. Figures dated September 2026. Talk to a licensed loan officer about financing and a CPA or attorney about tax and entity questions.
What you get, free.
Everything a first- or second-time rental buyer needs to decide on a strategy before picking a property.
Phoenix Rental Strategy Scorecard
The full breakdown of one example house run three ways.
- Income, operating costs, and effort for each strategy
- The Phoenix costs calculators skip: AC, summer utilities, HOA
- The Section 8 landlord process in 8 plain steps
- A hands-off vs hands-on self-check
Investor Setup Checklist
Separate accounts, document storage, bookkeeping tools, and county rental registration.
Questions to Ask a Lender
What to ask a licensed loan officer about investor (DSCR) loans before you shop.
Rental Numbers Review
For buyers who are ready: a call with Erick & Liliana to run the numbers on the area and property type you're considering, with the option to tour a rental they operate.
Get your Scorecard and your next step.
A few quick questions about your plans. We'll send the Scorecard right away and, if you're ready to buy, you can book a Rental Numbers Review here.
- Tell us your planAbout a minute. No credit score, income, or bank details.
- Get your ScorecardWith the strategy that fits how hands-on you want to be.
- Run real numbers with usIf you're ready, book a Rental Numbers Review.
Investors first, agents second.
Erick Arvizu Santos and Liliana Celis are a husband-and-wife team at HomeSmart who invest in rentals themselves. They start with the numbers and the strategy, then find the property, and they stay with you after closing while you set it up and rent it out.
Questions rental buyers ask
Do rentals still make sense in the Phoenix area?
It depends on the house, the price, and how you run it. That's the point of the Scorecard: the same property can look very different as a traditional rental, a Section 8 rental, or rented by the room.
How do investor (DSCR) loans work?
They're generally qualified on the property's rental income rather than only your personal income, but terms vary. A licensed loan officer can tell you what applies to you, and we're happy to introduce you to one of your choosing.
Is rent-by-the-room allowed everywhere?
No. It depends on city zoning, occupancy limits, HOA rules, and sometimes permits. Some cities treat several unrelated renters as a boarding house. We check before you buy.
How does Section 8 rent work for landlords?
Each housing authority publishes payment standards by ZIP code, but those are ceilings, not rent. Contract rent is approved based on comparable homes, the property must pass inspection, and the housing authority pays its portion directly to you under a HAP contract.
I've never owned a rental. Is this for me?
Yes. Most of the investors we work with are buying their first rental.
Is the Scorecard a guarantee?
No. It's an example with every assumption stated. Your property, financing, and costs will be different.