2231 E KAREN Drive, Phoenix, AZ 85022, Phoenix, 85022 - 4 bed, 2 bath
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Phoenix, AZ 85022
This Turnkey Vacation Rental & Residential Asset is listed at $509,900, offering a stable and high-quality opportunity in the Phoenix market. The pricing is closely aligned with the $490,649 Fair Market Value, reflecting the property's Excellent Condition Rating and extensive recent upgrades. Featuring a Modernized Kitchen, Wood-Look Tile Flooring, and a Private Patio, the home sits on a spacious 8,215 SqFt Lot with No HOA and room for a pool. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a move-in-ready lifestyle asset with expansion potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2231 E KAREN Drive Subject | $509,900* List Price | 4 | 2 | 1,898 | $259 | - |
A 2106 E FRIESS Drive Sold | $656,000 | 5 | 3 | 2,214 | $296 | 0.9 mi |
B 2046 E PARADISE Lane Sold | $435,000 | 3 | 3 | 1,934 | $225 | 0.6 mi |
C 2301 E MARILYN Road Sold | $440,000 | 3 | 2 | 1,939 | $227 | 0.3 mi |
D 2101 E REDFIELD Road Sold | $525,000 | 4 | 2 | 1,750 | $300 | 0.8 mi |
E 2301 E MARILYN Road Sold | $440,000 | 3 | 2 | 2,065 | $213 | 0.3 mi |
F 14269 N 22ND Street Sold | $615,000 | 4 | 3 | 2,214 | $278 | 0.6 mi |
G 15845 N 23rd Place Active Under Contract | $460,000 List Price | 3 | 2 | 1,878 | $245 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1971, the property has undergone extensive recent renovations that align with current market trends. The kitchen is fully updated with modern cabinetry, stainless steel appliances, and stone-look countertops. Bathrooms feature contemporary patterned and subway tile work with updated fixtures. The home also boasts high-quality wood-look tile flooring throughout and updated lighting, making it a turnkey property suitable for its current use as a high-end vacation rental.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8215, living area = 1898.
The property is currently operating as a successful vacation rental with a proven track record and positive reviews, offering immediate income potential for investors.
The 8,215 square foot lot provides ample space for significant upgrades, such as adding a private pool or a casita, which can further increase the property's value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1898, other record living area = 1505.
Built in 1971, the home may require more frequent maintenance or updates to its original structural and mechanical systems compared to newer builds.
Fitting four bedrooms into 1,898 square feet may result in smaller individual room sizes, which could feel cramped for families or large groups of guests.
Beautifully maintained and updated home on a great lot with enough room for a pool or casita. Home is currently being used as a successful vacation rental with great reviews! Move in or continue using it as an investment.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 68% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,898 | 1,800 | 56% |
| Lot Size | 8,215 | 7,929 | 55% |
| Price | $509.9K | $422.5K | 65% |
| Price per sq ft | $269 | $268 | 50% |
| Built year | 1971 | 1985 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 31 | 1051 | 0% |
Mar 26, 2026
$509,900
Initial Listing