
Phoenix, AZ 85004
This property is a High-Potential Investment Opportunity with a List Price of $250,000—positioned well below the $475,000 Fair Market Value by 47%. This valuation gap offers $225,000 in Instant Equity for buyers executing the projected 400 sqft addition and full mechanical overhaul. Currently at a Condition Rating of 5, the asset features a rare high-end backyard pool, a significant differentiator in the Phoenix market. Located near Silvestre S Herrera School, this high-ROI project is an ideal acquisition for Fix-and-Flip Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1612 S 5TH Street Subject | $250,000* List Price | 3 | 2 | 1,232 | $165 | - |
A 1005 S 2ND Street Active | $240,000 List Price | 3 | 1 | 1,428 | $168 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1945, this property is an unfinished rehab project currently stripped to the framing in several areas. It lacks a functional HVAC system, has exposed electrical components, and while some modern bathroom fixtures have been installed, the home remains unlivable and requires a full professional renovation.
Priced at approximately 52% of the projected $475,000 ARV, this property offers a substantial $225,000 equity spread, providing a safety margin well below the typical 70% investment rule.
The property features a high-end backyard pool, a rare and premium differentiator in this price bracket as no recent comparable sales under $500,000 in the area offer this feature.
The interior is already stripped to the framing, allowing investors to bypass demolition costs and easily execute a high-leverage 400 sqft addition to create a high-demand 3-bed, 2-bath layout.
The property lacks a functioning HVAC system and ductwork, requiring a full-scale mechanical installation that adds significant cost and complexity to the rehab budget.
This is a structural renovation rather than a cosmetic flip, requiring a sophisticated investor with a reliable contractor to manage the unfinished electrical work and structural additions.
Investor opportunity in central Phoenix priced at approximately 52% of ARV. Listed at $250,000 with a projected ARV of $475,000, this property offers a $225,000 equity spread before rehab and sits well below the 70% rule of thumb most flippers target. The spread is intentional and reflects the scope of work remaining. The home is currently configured as a 2 bed 1 bath with an additional bedroom and bathroom that has been closed off from the main living area. Previous renovations got fairly far along with electrical work but the project is unfinished. There is no HVAC system in place, so a full install with ductwork should be factored into rehab. Most of the home is opened up to framing, giving the next buyer a clean canvas to design around their exit strategy rather than working through finished surfaces. The highest leverage play here is a roughly 400 square foot addition between the front and rear sections of the home to create a true central living room. That converts the property into a proper 3 bed 2 bath layout with normal flow, which is what retail buyers in this price bracket consistently pay for. This is the path to the $475K ARV. The strongest hidden edge on this property is the backyard. The seller installed a higher end pool a few years ago and based on a review of recent comparable sales in the area, no comps under 500k have pools. That is a meaningful differentiator on the resale side and a feature retail buyers in Phoenix consistently pay a premium for, especially in this price bracket. This is a project, not a paint and carpet flip. The numbers work because the price reflects the scope. For the right investor with a contractor lined up, the combination of a 52% ARV entry, a framing-level canvas, an addition opportunity, and a pool that none of the comps have is the kind of setup that does not come around often in this market. Serious inquiries only. Proof of funds required.
No exterior & parking available.
Grades PK-8 • 0.5 mi
Grades 9-12 • 4.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,232 | 1,897 | 40% |
| Lot Size | 6,335 | 7,415 | 20% |
| Price | $250.0K | $250.0K | 50% |
| Price per sq ft | $203 | $203 | 50% |
| Built year | 1945 | 1925 | 80% |
| HOA | $0 | $0 | 50% |
| Days on market | 18 | 254 | 20% |
May 2, 2026
$250,000
Initial Listing