This isn’t an official definition. I’m not sure there is one. It’s just what I use as shorthand for a certain type of property.
- 3-4 bedrooms
- 2 bathrooms
- about 1200 to 1600 square feet
- small yard
- usually located about 20-30 miles from anything you can reasonably call ‘downtown’
- almost always in a master planned community, i.e. there is a Homeowners’ Association which charges fees and makes rules for the community
Like I said, not an official definition, and you’ll see there are a lot of qualifiers in my list (sometimes, usually, often). Take it for what it’s worth.
What about pricing? This isn't a scientific survey, but lately we at The Phoenix Agents have been helping folks buy these houses for between $60,000 and $150,000 in various parts of the Northwest, North and Southwest Valley. The lower the price, the harder it is to find a house that's inhabitable which the investor buyers haven't already made multiple cash offers on.