2214 E MONTEREY Way, Phoenix, AZ 85016, Phoenix, 85016 - 3 bed, 1 bath
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Phoenix, AZ 85016
This Strong Value Opportunity is a Single Family Residence listed at $385,000, positioned well below the $404,517 Fair Market Value by 4%. This valuation gap provides $19,517 in Instant Equity. Featuring a Condition Rating of 2, the home offers a move-in-ready interior with modern updates and a generous lot size. While the 1-bath configuration is a constraint, the permitted addition offers clear expansion potential. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking central Phoenix value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2214 E MONTEREY Way Subject | $385,000* List Price | 3 | 1 | 1,346 | $301 | - |
A 2022 E MULBERRY Drive Sold | $410,000 | 3 | 2 | 1,556 | $263 | 0.3 mi |
B 3202 N 21ST Street Sold | $495,000 | 3 | 2 | 1,682 | $294 | 0.2 mi |
C 1818 E MONTEREY Way Sold | $365,000 | 3 | 2 | 1,326 | $275 | 0.5 mi |
D 2243 E MULBERRY Drive Sold | $369,000 List Price | 3 | 2 | 1,545 | 0.1 mi | |
E 2531 E INDIANOLA Avenue Sold | $299,900 List Price | 3 | 2 | 1,110 | 0.6 mi | |
F 2531 E INDIANOLA Avenue Sold | $379,900 List Price | 3 | 2 | 1,110 | 0.6 mi | |
G 2945 E MULBERRY Drive Sold | $480,000 | 3 | 2 | 1,443 | $333 | 1.0 mi |
H 2332 E FLOWER Street Active | $429,900 List Price | 3 | 1 | 1,212 | $355 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1950, the property has undergone a comprehensive recent interior renovation (likely <5 years) including an updated kitchen, bathroom, newer windows, and modern flooring. The interior is in mint, move-in-ready condition with updated lighting and fixtures.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7131, living area = 1346.
The property is ideally situated near the Biltmore corridor, Arcadia, and major employment hubs, offering excellent proximity to high-end dining, shopping, and Sky Harbor Airport.
The home features a move-in-ready interior with comprehensive updates including tile flooring, a remodeled kitchen with new countertops, updated lighting, and newer windows.
The 3-bedroom, 1-bathroom configuration may be a significant drawback for families or multi-occupant households, potentially limiting the buyer pool in a competitive market.
The assigned elementary and high schools have relatively low ratings (2 and 3 respectively), which may deter families who prioritize high-performing educational boundaries.
Location, location, location! Updated central Phoenix home near SR-51, Phoenix Children's Hospital, the Biltmore corridor, Arcadia-area dining and shopping, downtown Phoenix, Sky Harbor, and major employment corridors. This 3 bedroom, 1 bath home features a remodeled interior with tile flooring, updated kitchen, countertops, bathroom, lighting fixtures, interior doors, and newer windows. The generous laundry/utility room and permitted addition add flexible living space and a potential location for a future second bathroom (buyer to verify feasibility). The low-maintenance front yard, clean backyard, and refreshed patio offer a simple exterior ready for personal touches. Move-in-ready feel, central location, and strong value all in one.
No exterior & parking available.
Grades PK-8 • 0.5 mi
Grades 9-12 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 1,346 | - |
| Lot Size | 7,131 | - |
| Price | $385.0K | $495.4K |
| Price per sq ft | $286 | $290 |
| Built year | 1950 | 0 |
| HOA | $0 | $0 |
| Days on market | 36 | 1260 |
Jun 17, 2026
$385,000
Initial Listing