16840 S 36TH Place, Phoenix, AZ 85048, Phoenix, 85048 - 5 bed, 3 bath
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Phoenix, AZ 85048
This Spacious Lakewood Residence is a Strong Value Opportunity, listed at $699,000—positioned well below the $779,456 Fair Market Value by 10%. This valuation gap secures $80,456 in Instant Equity for the incoming buyer. Maintaining a Good Condition Rating, the home features a new roof, HVAC systems under warranty, and a private pool with mountain views. Located within the 9/10 rated Kyrene de los Lagos School zone, it offers a rare blend of lifestyle luxury and financial upside. This is an elite acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 16840 S 36TH Place Subject | $679,000* List Price | 5 | 3 | 3,296 | $228 | - |
A 16631 S 37TH Street Sold | $649,400 | 5 | 3 | 3,254 | $200 | 0.2 mi |
B 3132 E WILDWOOD Drive Sold | $735,000 | 5 | 3 | 3,076 | $239 | 0.7 mi |
C 16809 S 33RD Way Sold | $770,000 | 4 | 3 | 3,135 | $246 | 0.4 mi |
D 16205 S 36TH Street Sold | $635,375 List Price | 5 | 4 | 4,364 | 0.5 mi | |
E 3450 E GLENHAVEN Drive Sold | $575,000 | 4 | 3 | 2,493 | $231 | 0.2 mi |
F 3530 E SALTSAGE Drive Sold | $590,000 | 3 | 3 | 2,331 | $253 | 0.2 mi |
G 16631 S 37TH Street Pending | $732,000 List Price | 5 | 3 | 3,257 | $225 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition with several high-value recent updates, including a new roof, new carpeting, and HVAC systems that are currently under warranty. While the kitchen and bathrooms feature dated 1990s-style oak cabinetry, white appliances, and older light fixtures, they appear very well-maintained with no signs of deferred maintenance. The home's structural components and major systems are in excellent functional shape for its age, meeting the criteria for a 'good' condition score.
Elementary School: Kyrene de los Lagos School (9/10).
The property features a brand-new roof with hybrid underlayment, new carpeting, and HVAC systems under warranty, providing peace of mind and reducing immediate capital expenditures for the buyer.
Situated directly on the greenbelt with lake access in the sought-after Lakewood community, the home offers a vibrant neighborhood feel and proximity to top-rated schools like Kyrene de los Lagos.
The tri-level architectural style can be polarizing, as the frequent use of stairs may not appeal to buyers seeking a traditional two-story or single-level layout, particularly those with mobility concerns.
While essential systems and flooring have been updated, the 1993 construction suggests that areas like the kitchen and secondary bathrooms may still require cosmetic upgrades to meet modern luxury standards.
On the Greenbelt in Lakewood! Back on the market with a brand new roof and more! A gorgeous tri-level that offers 5 bedrooms, 3 baths, 3 car garage and a private pool with mountain views. Enjoy direct access to park and lakes. Lakewood has that true neighborhood feel-events like Oktoberfest, Spring Fling, Holiday festival and movie nights, people out enjoying the loop, park and the lakes. Set in a highly sought-after location with top-rated schools nearby, and easy freeway access, a home that checks every box. This is a home buyers will love! Updates to home include a new roof with hybrid underlayment, new carpet, and new laminate flooring in the primary bathroom, both HVAC systems under warranty, a termite warranty, and other essential repairs completed, this home is truly move-in ready!
No exterior & parking available.
Grades PK-5 • 0.1 mi
Grades 6-8 • 1.1 mi
Grades 9-12 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 83% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 3,296 | 2,162 | 91% |
| Lot Size | 7,108 | 6,970 | 53% |
| Price | $679.0K | $450.0K | 84% |
| Price per sq ft | $206 | $218 | 49% |
| Built year | 1993 | 1992 | 56% |
| HOA | $284 | $200 | 93% |
| Days on market | 32 | 1686 | 0% |
Apr 18, 2026
$679,000
$699,000
-3% Price Drop
Initial Listing
Mar 21, 2026
$699,000
Initial Listing
Aug 27, 1998
$238,000
Public Record