Scottsdale, Phoenix & National Real Estate Investment Glossary
Definitions, formulas, and Maricopa County ARMLS benchmarks for real estate buyers, sellers, and 1031 exchange investors, authored by Stephen R. Mannenbach (J.D., MBA · Licensed Arizona REALTOR® (ADRE #SA713873000 · HomeSmart LLC)) on HomeDaddy AI.
Annual Net Operating Income (NOI) divided by property purchase price or current market value.
IRS code section allowing investors to defer capital gains and depreciation recapture by reinvesting proceeds into like-kind investment real estate.
Official Arizona Association of REALTORS® form used during the inspection due-diligence period to request repairs, credits, or contract cancellation.
Secondary residential dwelling unit on a single-family lot permitted statewide under Arizona HB 2720 municipal zoning reform.
Estimated stabilized market value of a property after completing all planned structural, cosmetic, and square-footage renovations.
Municipal registration, neighbor notification, and Arizona TPT tax licensing rules governing Airbnb and VRBO properties.
Total gross rental and ancillary property revenue minus vacancy allowance and operating expenses (property taxes, insurance, HOA, maintenance, management).
Annual pre-tax net cash flow divided by total initial cash equity invested (down payment, closing costs, and renovation budget).