1918 W Colter Street, Phoenix, AZ 85015, Phoenix, 85015 - 3 bed, 2 bath
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Phoenix, AZ 85015
This Turn-key Investment Asset represents a Prime Investment Opportunity, listed at $372,999—positioned well below the $382,084 Fair Market Value by 2%. This valuation gap provides $9,085 in Instant Equity. Boasting a Condition Rating of 3, the home features a modernized kitchen, stainless appliances, and a critical ABS plumbing upgrade that replaces all vintage cast iron. With a tenant in place generating $2,200 monthly income, it offers immediate cash flow near Grand Canyon University. This property is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1918 W Colter Street Subject | $372,999* List Price | 3 | 2 | 1,506 | $254 | - |
A 2033 W PALO VERDE Drive Sold | $375,000 | 4 | 2 | 1,413 | $265 | 0.7 mi |
B 1811 W ROMA Avenue Sold | $450,000 | 3 | 2 | 1,425 | $316 | 0.9 mi |
C 1930 W MISSOURI Avenue Sold | $454,500 | 4 | 3 | 1,606 | $283 | 0.3 mi |
D 2118 W ELM Street Sold | $449,000 | 3 | 2 | 1,507 | $298 | 0.5 mi |
E 2241 W BERRIDGE Lane Sold | $280,000 List Price | 4 | 2 | 1,564 | 1.0 mi | |
F 2027 W MEDLOCK Drive W Sold | $343,000 | 3 | 2 | 1,331 | $258 | 0.2 mi |
G 4714 N 23RD Avenue Active | $339,999 List Price | 3 | 2 | 1,223 | $278 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
This 1950s property has been extensively renovated, making it move-in ready. The interior features modern updates including new laminate flooring, fresh paint, a modernized kitchen with stainless steel appliances, and fully renovated bathrooms. The replacement of underground cast iron plumbing with ABS is a major system upgrade. While the interior finishes are high quality, the exterior structure, windows, and roof appear older, which aligns with the 'good' category rather than 'excellent' which requires all components to be virtually new.
The property is a turn-key investment with a tenant already in place paying $2,200 per month, providing guaranteed cash flow from day one.
A significant value-add is the replacement of all underground plumbing with ABS, mitigating the high-cost risks typically associated with 1950s-era cast iron pipes.
The home features comprehensive updates including a contemporary kitchen with stainless steel appliances, renovated bathrooms, and new flooring, ensuring high tenant appeal.
The assigned public schools have low ratings (ranging from 1 to 3), which may limit the property's attractiveness to long-term family residents.
Being built in 1950, the property may still face efficiency or maintenance challenges inherent to older structures, such as original insulation or electrical systems not mentioned as upgraded.
Investor opportunity in a prime Central Phoenix location near the Melrose District and Grand Canyon University. This remodeled home comes with a tenant in place at $2,200/month for the next 5 months, providing immediate rental income. Interior features include updated flooring, fresh paint, and a modern kitchen with stylish cabinetry, attractive countertops, and stainless steel appliances. Spacious bedrooms and fully renovated bathrooms offer comfortable living. Major upgrade: all underground plumbing has been replaced with ABS--no cast iron. The low-maintenance yard keeps upkeep simple. Conveniently located near shopping, dining, entertainment, and major commuter routes. Turn-key investment with built-in cash flow and strong long-term rental appeal.
No exterior & parking available.
Grades K-3 • 0.6 mi
Grades 4-8 • 0.5 mi
Grades 9-12 • 1.8 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 | 1,506 | 1,474.5 | 54% |
| Lot Size | 6,939 | 7,640.5 | 24% |
| Price | $373.0K | $370.0K | 51% |
| Price per sq ft | $248 | $263 | 42% |
| Built year | 1950 | 1951 | 48% |
| HOA | $0 | $0 | 50% |
| Days on market | 42 | 994 | 1% |
Mar 15, 2026
$372,999
Initial Listing