Thinking about buying a rental in Moon Valley but not sure how to judge the numbers? You are not alone. Because “Moon Valley” can mean the golf-club core or the broader zip codes around it, data often feels contradictory. In this guide, you’ll learn how to define the right footprint, read sales and rent signals, run a simple cash flow, and navigate permits, taxes, and HOAs before you buy. Let’s dive in.
Define your Moon Valley
Start by choosing the exact area you mean. The country-club and Hillcrest pockets often trade at premium prices, while the surrounding 85022 and 85023 zip areas include more mid-market homes. That split can change your rent targets and your cash flow.
Lifestyle anchors matter here. Proximity to hiking in the Phoenix Mountains Preserve and access to the Moon Valley Country Club help drive steady demand from residents who value outdoor access and local schools in the Washington Elementary and Thunderbird High School areas. These are durable draws for long-term rentals, especially for well-maintained single-family homes with easy yard and pool care. Learn more about the club on the Moon Valley Country Club site.
What homes and renters look like
You will see mostly single-family homes built in the 1960s and 1970s, plus a mix of mid-century ranches, custom builds, and a few gated or townhome communities. Many homes have pools, larger lots, and floor plans commonly in the 1,800 to 3,500-plus square foot range. Tenant profiles often include professionals and families who value nearby trails, golf, and established school options.
If you are targeting a condo or townhome, confirm the HOA’s rental policies and monthly dues early. In some communities, dues are a meaningful line item that can reshape your net operating income.
Sales and rent signals
Sales medians vary by footprint
Expect higher medians in the tight, golf-course-centered neighborhood. For example, vendor snapshots in late 2025 showed the Moon Valley neighborhood near seven figures, while broader zip-level medians in 85022 and 85023 more commonly landed in the $400,000 to $475,000 range. Always label which footprint your numbers reflect before you compare opportunities.
Rents for typical single-family homes
At the zip level, recent vendor data indicate many 3-bedroom single-family homes lease in the about $2,000 to $2,800 per month range, with several examples around $2,300 depending on condition, pool, and proximity to amenities. You can review current zip-level rent medians and recent listing trends for 85022 from Prop‑Metrics. Expect meaningful variance by renovation level, pool presence, and single-story versus two-story.
Why vendor numbers disagree
Different sources often pool different property types and footprints. Some blend apartments with single-family homes, others focus on new leases only, and many draw different neighborhood boundaries. To underwrite with confidence, pull 6 to 12 months of MLS leases that match your exact subdivision and ask a local property manager for average days-to-lease and concession history.
Underwrite with discipline
Step-by-step framework
Define the micro-market. Identify the exact subdivision and pull 6 to 12 months of comparable sales and leases for similar single-family homes.
Pull rent comps. Focus on comparable beds, baths, condition, pool, garage, and single versus two-story. Zip-level rent context is available from Prop‑Metrics, but rely on true leased comps for final pricing.
Build a conservative expense schedule. Line-item vacancy, property management, maintenance, insurance, taxes, and HOA dues where applicable. Local managers commonly quote management fees in the mid-single to low-double digits as a percent of rent. Use county bills for taxes and cross-check with the Tax Foundation’s county tax guidance.
Verify HOA exposure. Request the HOA resale packet early to confirm rental rules, dues, and any special assessments. See what belongs in a standard packet using this HOA resale checklist.
Run sensitivities. Model ±10 to 20 percent on rent and ±5 to 10 percent on expenses to see how your cash-on-cash changes.
Example yield math
Consider a mid-market single-family in the broader 85022 zip with a sample median purchase of about $455,000 and a typical 3-bedroom rent near $2,300 per month. That implies annual gross rent of $27,600 and a gross yield around 6.1 percent. After conservative deductions for vacancy, management, maintenance, property taxes, insurance, and potential HOA dues, the resulting net yield often falls into the low to mid single digits. Replace these placeholders with actual quotes, tax bills, and HOA documents before you decide.
Rules and registration to know
Phoenix short-term rental permits
If you plan any stays under 30 days, the City of Phoenix requires an STR permit. The program includes a nonrefundable application fee, proof of liability insurance at $500,000, neighbor notification, prohibited-use rules, and permit display in listings. You can review permit requirements and apply through the city’s portal on the Phoenix STR permit page. Build compliance steps into your operating plan to avoid escalating penalties for violations.
Maricopa County rental registration
All residential rentals must be registered with the Maricopa County Assessor under A.R.S. §33‑1902. This is separate from the city’s STR permit. Find instructions and the portal on the Maricopa County rental registration page.
2025 Arizona tax guidance
For longer-term rentals of 30 days or more, Arizona guidance effective January 1, 2025, states that cities cannot levy transactional privilege tax on residential rental income. Transient lodging taxes still apply to short-term stays. Review current rules on the Arizona Department of Revenue’s residential rental page and align your bookkeeping if you mix long-term and short-term use.
HOA impact on operations
Moon Valley includes many small HOAs and at least one larger gated condo community where dues are material. Recent MLS entries for a well-known community have shown dues in the roughly $170 to $192 per month range. Always request the resale packet early to confirm any rental caps, minimum lease terms, budget and reserves, and whether special assessments are likely. The resale packet checklist is a helpful guide for what to request.
Strategy: where returns pencil
Core Moon Valley
The country-club and Hillcrest pockets typically command higher purchase prices and limited inventory. These homes can support premium rents, but initial cap rates may feel tight. If you buy here, look for value-add renovations that materially lift rent or plan for a longer hold focused on appreciation and stability.
Broader 85022 and 85023
The surrounding zip areas usually offer lower purchase prices with 3-bedroom single-family rents in the about $2,000 to $2,500 range. That combination can improve gross yield and shorten your path to positive cash flow. Focus on homes with functional floor plans, modest yard and pool maintenance, and strong curb appeal for faster lease-ups.
Nearby comparisons
Neighboring North Phoenix submarkets like Deer Valley and North Mountain often show median prices in the about $400,000 to $500,000 band. Desert Ridge trends higher on average, while some North Phoenix pockets trend lower. Use tight comps for your exact block to keep underwriting honest.
Due diligence checklist
- Confirm the exact footprint. Define the subdivision and pull 6 to 12 months of like-kind leases and sales for that area.
- Validate rent. Cross-check leased comps with zip-level context from Prop‑Metrics and ask a local PM for days-to-lease and concessions.
- Order the HOA resale packet early. Use this HOA resale checklist and review CC&Rs, minutes, budget, reserves, insurance, litigation, and any rental caps or minimum terms.
- Line up operating quotes. Get written estimates for management, insurance, landscaping, pool service, and turnover costs. Use the Tax Foundation’s county guidance to sanity-check taxes against the assessor.
- Register properly. For short-term stays, review the Phoenix STR permit. For all residential rentals, complete the Maricopa County rental registration.
- Confirm 2025 tax handling. Read the AZDOR residential rental guidance so you handle long-term versus short-term taxes correctly.
Ready to evaluate a target?
If you want a clear, local plan, you will benefit from tight comps, a practical rent roll, and a line-item budget before you write an offer. I can help you define the micro-market, review MLS data, and build a purchase and leasing strategy that fits your goals. When you are ready, connect with Angela Totman to start your Moon Valley rental evaluation.
FAQs
What defines “Moon Valley” for investment analysis?
- Treat it as a two-tier market: the country-club core with premium prices, and the broader 85022–85023 area with more mid-market inventory, and always label which footprint your numbers use.
What are typical 3-bedroom rents near Moon Valley?
- Zip-level data show many 3-bedroom single-family homes in the about $2,000 to $2,800 per month range, with several examples near $2,300 depending on condition and location.
Do I need a permit for a Phoenix short-term rental?
- Yes; Phoenix requires an STR permit with a fee, $500,000 liability insurance, neighbor notice, and permit display in listings, plus penalties for violations.
How do HOAs affect rental returns in Moon Valley?
- HOAs can add monthly dues and impose rental rules or minimum lease terms, so request the resale packet early to confirm policies, budgets, and any special assessments.
How are long-term rental taxes handled in Arizona in 2025?
- For stays of 30 days or more, cities cannot levy transactional privilege tax on residential rent; short-term stays remain subject to transient lodging taxes per AZDOR.
Is Moon Valley better for cash flow or appreciation?
- The golf-course core often skews toward appreciation and premium rents with tighter cap rates, while the broader zip areas tend to offer better gross yields for cash flow.
