2040 E MONTE CRISTO Avenue, Phoenix, AZ 85022, Phoenix, 85022 - 3 bed, 2 bath
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Phoenix, AZ 85022
This Updated Single-Family Residence is a High-Potential Investment Opportunity, listed at $350,000—positioned well below the $390,719 Fair Market Value by 10%. This valuation gap offers $40,719 in Instant Equity. The home maintains a Fair Condition Rating with recent new LVP flooring, fresh interior paint, and major HVAC and roof updates. The expansive backyard with a giant RV gate provides a blank slate for forced appreciation. This property is perfectly suited for Owner-Occupants seeking a value-buy or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2040 E MONTE CRISTO Avenue Subject | $350,000* List Price | 3 | 2 | 1,490 | $262 | - |
A 2214 E NISBET Road Sold | $400,000 List Price | 3 | 2 | 1,400 | 0.6 mi | |
B 1825 E AIRE LIBRE Avenue Sold | $422,500 | 3 | 2 | 1,506 | $281 | 0.4 mi |
C 2116 E MARCONI Avenue Sold | $325,000 List Price | 3 | 2 | 1,820 | 0.1 mi | |
D 1705 E GRANDVIEW Road Sold | $380,000 | 2 | 2 | 1,358 | $280 | 0.6 mi |
E 2231 E Janice Way Sold | $370,000 | 3 | 3 | 1,306 | $283 | 0.6 mi |
F 1705 E GRANDVIEW Road Sold | $380,000 | 2 | 2 | 1,358 | $280 | 0.6 mi |
G 2220 E Blanche Drive Pending | $399,999 List Price | 3 | 2 | 1,456 | $275 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property, built in 1978, is well-maintained and move-in ready with recent cosmetic updates such as new Luxury Vinyl Plank flooring in bedrooms and fresh interior paint. It also benefits from significant system updates including a newer HVAC system, roof underlayment, and water heater. However, the home likely retains original 1970s features in the kitchen and bathrooms, and the backyard is an unfinished 'blank slate,' placing it in the fair category as it requires further modernization to meet contemporary standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7450, living area = 1490.
The property features significant recent improvements including a new water heater and HVAC and roof underlayment updated within the last 5-6 years, providing peace of mind regarding major capital expenses.
Fresh interior paint and newly installed Luxury Vinyl Plank (LVP) flooring in all bedrooms offer a modern, clean aesthetic that allows for immediate occupancy without initial renovation needs.
While the backyard is spacious, it is currently a 'blank slate' that will require significant landscaping investment and effort to transform into a functional outdoor living space.
Despite recent cosmetic updates, the 1978 construction suggests that core areas like the kitchen and bathrooms may still require modernization to meet contemporary standards.
3 bed, 2 full bath home with a great location. The owner just updated floors in all the bedrooms with LVP, fresh interior paint throughout the home and has roof underlayment and HVAC updated within the past 5-6 years, with a new water heater. The enormous backyard is a blank slate with tons of potential and even comes with a giant RV gate.
No exterior & parking available.
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 | 1,490 | 1,798 | 31% |
| Lot Size | 7,450 | 7,921 | 45% |
| Price | $350.0K | $420.0K | 38% |
| Price per sq ft | $235 | $268 | 42% |
| Built year | 1978 | 1985 | 28% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 1051 | 0% |
Mar 18, 2026
$350,000
Initial Listing