2302 E Yale Street, Phoenix, AZ 85006, Phoenix, 85006 - 5 bed, 4 bath
Loading property details...
Phoenix, AZ 85006
This Renovated Multi-Unit Income Property is a High-Potential Investment Opportunity listed at $425,000, representing a stable entry at its $425,000 Fair Market Value. Boasting an Excellent Condition Rating with shaker cabinetry and wood-look tile, the asset features three distinct units producing a strong 1% rent-to-price ratio. With a main house, casita, and studio generating $3,900 in estimated monthly income, the property offers immediate cash flow near Downtown Phoenix. This versatile acquisition is a premier choice for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2302 E Yale Street Subject | $425,000* List Price | 5 | 4 | 2,280 | $186 | - |
A 2250 E WILLETTA Street Sold | $450,000 | 4 | 3 | 2,200 | $205 | 0.8 mi |
B 2037 N 22ND Place Sold | $345,000 List Price | 4 | 2 | 1,964 | 0.4 mi | |
C 2206 E CAMBRIDGE Avenue Sold | $300,000 List Price | 3 | 2 | 1,954 | 0.2 mi | |
D 2869 N GREENFIELD Road Sold | $548,500 List Price | 6 | 4 | 2,849 | 0.3 mi | |
E 2217 E SHERIDAN Street Active Under Contract | $465,000 List Price | 5 | 4 | 1,935 | $240 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1941, the property has undergone an extensive recent renovation that brings it up to modern standards. The interior features new wood-look tile flooring, updated kitchens with shaker-style cabinetry and stainless steel appliances, and completely remodeled bathrooms with contemporary tile work and fixtures. The recessed lighting and fresh paint throughout indicate a comprehensive overhaul within the last five years, meeting the criteria for excellent condition.
The property features three separate living units—a main house, a casita, and a studio—producing a strong nearly 1% rent-to-price ratio with an estimated total monthly income of $3,900.
Situated in a highly accessible area, the home is minutes from Phoenix Children's Hospital, downtown Phoenix, and Sky Harbor Airport, ensuring high tenant demand and convenience.
With the main house leased through August 2026 and two vacant units ready for immediate occupancy, the property offers a blend of guaranteed cash flow and immediate value-add opportunity.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2280, other record living area = 1360.
Originally built in 1941, the property may require more frequent maintenance and updates to its older structural and mechanical systems compared to modern constructions.
The assigned elementary and high schools both carry a low rating of 3, which may limit the property's appeal to families and impact long-term appreciation potential.
A property that offers more than just a place to live, it creates tremendous opportunity from the start. Set in a highly accessible central Phoenix location, this home features multiple living spaces designed for flexibility + long-term value. The main residence offers 3 bedrooms, 2 bathrooms and ~1,360 sq ft, plus a separate studio around 320 sq ft. An attached casita in the backyard features 1 bed / 1 bath with ~ 600 sq ft. Estimated rents are $2,200 per month for the main house, $1,000 for the casita, and $700 for the studio, producing a strong nearly 1% rent to price ratio. Main house is currently leased through August 2026, studio and casita are currently vacant. Great location minutes from Phoenix Children's Hospital, downtown Phoenix, Sky Harbor Airport, and freeway access.
No exterior & parking available.
Grades K-8 • 0.2 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 97% |
| Baths | 4.0 | 2.0 | 97% |
| Square foot | 2,280 | 1,344 | 95% |
| Lot Size | 6,499 | 6,789 | 27% |
| Price | $425.0K | $415.3K | 51% |
| Price per sq ft | $186 | $327 | 32% |
| Built year | 1941 | 1942 | 47% |
| HOA | $0 | $0 | 50% |
| Days on market | 116 | 1489 | 8% |
Dec 31, 2025
$425,000
Initial Listing