1311 N 38TH Avenue, Phoenix, AZ 85009, Phoenix, 85009 - 4 bed, 2 bath
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Phoenix, AZ 85009
This Value-Add Residential Asset is listed at $249,999, reflecting its potential as a high-density rental. While the price exceeds the $215,754 Fair Market Value, the unique 4-bedroom plus two flex-room configuration offers significant forced appreciation potential. Currently in a Condition Rating of 5, this "as-is" home requires modernization but benefits from a prime Corner Lot location with no HOA. Comparable sales for 4-bedroom homes in the area reach $320,000, supporting strong resale value despite lower ratings at Alta E Butler School. This is ideal for Fix-and-Flip Investors or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1311 N 38TH Avenue Subject | $244,999* List Price | 4 | 2 | 1,689 | $149 | - |
A 3602 W ALMERIA Road Sold | $215,000 | 3 | 2 | 1,394 | $154 | 0.3 mi |
B 3607 W PALM Lane Sold | $209,900 List Price | 4 | 1 | 1,325 | 0.5 mi | |
C 2310 N 40th Drive Sold | $265,000 | 4 | 2 | 1,555 | $170 | 0.8 mi |
D 3735 W MORELAND Street Sold | $185,000 List Price | 3 | 1 | 1,480 | 0.1 mi | |
E 4216 W HUBBELL Street Sold | $180,000 List Price | 4 | 2 | 1,296 | 0.8 mi | |
F 3538 W PALM Lane Sold | $256,000 | 3 | 2 | 1,489 | $172 | 0.5 mi |
G 3206 W PIERCE Street Active | $235,000 List Price | 4 | 2 | 1,500 | $157 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1955 and marketed as an 'investor special' in 'as-is' condition, the property shows significant deferred maintenance and neglect. Interior images reveal cracked walls, stained surfaces, and outdated, dirty tile flooring throughout. The home requires substantial rehabilitation and modernization of all major systems, including the kitchen and bathrooms, to meet current living standards.
With 4 bedrooms plus 2 additional flex rooms, this property is uniquely configured for high-occupancy rental strategies or large multi-generational families, maximizing potential cash flow.
Priced as an investor special with no HOA restrictions, this home offers substantial equity growth potential for buyers looking to renovate and modernize a mid-century structure.
The property is situated on a desirable corner lot adjacent to Arizona State land, providing increased privacy, fewer immediate neighbors, and versatile access.
The property is sold in as-is condition, implying the need for immediate capital expenditure to address deferred maintenance or necessary structural and cosmetic upgrades.
The local elementary and high schools have very low ratings (1/10 and 3/10), which may limit the property's appeal to families prioritizing top-tier educational districts.
Investor special in Phoenix! 4 bed, 2 bath home on a corner lot next to Arizona State land. No HOA. Property includes 2 additional rooms (no closets) ideal for office, flex space, or future conversion. Perfect for a large family or co-living setup. Great opportunity for investors or buyers looking to renovate and add value. Sold as-is, where-is.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 9-12 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 67% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,689 | 1,276 | 86% |
| Lot Size | 6,726 | 6,410 | 60% |
| Price | $245.0K | $244.5K | 50% |
| Price per sq ft | $145 | $192 | 35% |
| Built year | 1955 | 1953 | 66% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 1214 | 1% |
Apr 24, 2026
$244,999
$249,999
-2% Price Drop
Initial Listing
Apr 15, 2026
$249,999
Initial Listing