1905 E ILLINI Street, Phoenix, AZ, 85040
About This Home
Outstanding investment opportunity! Built in 2024 and located in a designated Opportunity Zone, this fully leased duplex offers immediate cash flow with approximately $34,000 in annual income and an attractive 7% CAP rate. Quality workforce housing with dependable tenants who pay on time and cover their own electric; landlord pays only water and sewer. Also available is the adjacent duplex at 1835 E. Illini, creating a rare opportunity to acquire a side-by-side 4-plex. Each unit features wood-look tile flooring, Samsung appliances, 42'' espresso cabinetry, 2'' wood blinds, and contemporary finishes throughout. Ample parking, low-maintenance construction, and excellent condition make this a true turnkey investment.
Getting Around
Car-Dependent
Some Transit
BikeableSchools
Construction
Condition
- Year built: 2025
Materials
- Roof: Composition
- Construction materials: Wood Frame,Stucco
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Built-In Range,Disposal,Dishwasher,Refrigerator,Built-In Electric Oven,Microwave
- Laundry features: W/D Hookup
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 3
Features
- Flooring: Tile,Carpet
Heating & Cooling
- Heating features: Electric
- Cooling features: Central Air,Ceiling Fan(s),Heat Pump,Individual
Interior Area
- Total structure area: 2,600
- Total interior livable area: 2,600 sqft
Property
Details
- Parcel number: 12232091
- Zoning: R3
Lot
- Lot size: 7,353 sqft
- Lot size dimensions: 7353 SF
Parking
- Total spaces: 4
- Parking features: Attached Carport,Add'l Parking Avail,>1 Space Per Unit,Carport
- Covered spaces: 2
- Has uncovered spaces: Yes
- Uncovered spaces: 2
- Carport: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Inland Flooding
- Hail
How This Home’s Risks Compare
FEMA Declared Disasters in Maricopa County and Arizona
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $2,527 | $30,324 |
| Home Insurance | $174 | $2,088 |
| Property Taxes | $183 | $2,196 |
| Electricity | $275 | $3,304 |
| Total | $3,159 | $37,908 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-22 | Price change | $499,900 |
| 2026-06-10 | Listed for sale | $489,900 |
| 2023-08-15 | Sold | $98,000 |
| 2018-10-02 | Sold | $40,000 |
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