2234 E WOOD Street, Phoenix, AZ 85040, Phoenix, 85040 - 3 bed, 2 bath
Loading property details...
Phoenix, AZ 85040
This property presents a High-Potential Investment Opportunity with a List Price of $220,000—positioned well below the $226,022 Fair Market Value by 2%. This valuation gap offers $6,022 in Instant Equity for buyers. Featuring a 2024 New Roof and No HOA, this Fair Condition Rating asset requires a complete interior renovation. Its proximity to Downtown Phoenix and major freeways ensures strong rental demand. This is a strategic acquisition ideal for Fix-and-Flip Investors or Contractors seeking a value-add project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2234 E WOOD Street Subject | $220,000* List Price | 3 | 2 | 979 | $231 | - |
A 2824 E CHIPMAN Road Sold | $185,000 | 2 | 1 | 720 | $257 | 0.8 mi |
B 4451 S 20TH Street Pending | $277,000 List Price | 3 | 1 | 980 | $283 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1957 and held by the same owner since day one, this property is explicitly marketed as an 'investor special' requiring a 'complete renovation.' While a new roof was added in 2024, the lack of interior updates over 60+ years indicates that the kitchen, bathrooms, and electrical/HVAC systems are likely original or severely outdated, necessitating a full rehab.
A brand-new roof installed in 2024 provides a significant head start on renovations and reduces immediate capital expenditure for the buyer.
The absence of a Homeowners Association offers maximum flexibility for property modifications, landscaping, and potential use as a short-term or long-term rental.
Situated on a large lot near major freeways and Downtown Phoenix, this property is ideally positioned for high resale value or rental demand after renovation.
Marketed as an 'Investor Special,' the home requires a complete interior and exterior overhaul, which may be a barrier for traditional buyers seeking move-in ready options.
The assigned public schools have low performance ratings (2/10 and 3/10), which could limit the property's appeal to families with school-aged children.
INVESTOR SPECIAL! Opportunity awaits with this 3-bedroom, 1.5-bath block home situated on a large lot with NO HOA! Owned by the same owner since day one, this property is ready for a complete renovation and offers a blank canvas for an investor, flipper, or buyer looking to create something of their own. A NEW ROOF was installed in 2024, providing a great starting point for your next project. Explore the surrounding neighborhood and discover the potential this property has to offer. Priced to sell and conveniently located near major freeways and ballparks, with easy access to Downtown Phoenix sports, dining, entertainment, and more. Bring your vision and transform this property into its full potential!
No exterior & parking available.
Grades K-8 • 0.4 mi
Grades 9-12 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 979 | - |
| Lot Size | 6,596 | - |
| Price | $220.0K | $495.4K |
| Price per sq ft | $225 | $290 |
| Built year | 1957 | 0 |
| HOA | $0 | $0 |
| Days on market | 8 | 1260 |
Jul 15, 2026
$220,000
Initial Listing