2344 E SCHOOL Drive, Phoenix, AZ 85040, Phoenix, 85040 - 3 bed, 2 bath
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Phoenix, AZ 85040
This Value-Add Residential Asset is listed at $310,000, representing a stable acquisition price aligned with its $302,911 Fair Market Value. Currently maintaining a Condition Rating of 4, the property offers a turnkey investment with immediate rental income from existing tenants. The 1964 construction features a private patio, no HOA fees, and proximity to Percy L Julian School. This property provides a blank slate for modernization to drive future appreciation in a high-demand rental corridor. It is a prudent choice for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2344 E SCHOOL Drive Subject | $310,000* List Price | 3 | 2 | 1,222 | $248 | - |
A 2223 E SHERATON Lane Sold | $307,000 | 5 | 2 | 1,196 | $257 | 0.2 mi |
B 2223 E SHERATON Lane Sold | $307,000 | 5 | 2 | 1,196 | $257 | 0.2 mi |
C 2230 E CHIPMAN Road Sold | $295,000 | 3 | 2 | 1,378 | $214 | 0.1 mi |
D 4228 S 19TH Place Active Under Contract | $290,000 List Price | 4 | 2 | 1,232 | $235 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1964, this property is aged but appears to be maintained through regular upkeep. The exterior shows a functional but dated aesthetic with chain-link fencing and a gravel yard. The listing description and AI analysis explicitly mention 'dated construction' and the 'ability to personalize over time,' indicating that while the home is livable and currently tenant-occupied, it lacks recent major renovations and requires modernization to meet current market standards.
The property is currently tenant-occupied, providing a turnkey investment opportunity with immediate cash flow and a proven rental history.
Situated near major highways in Phoenix, this home offers excellent accessibility for commuters and easy access to the city's core amenities.
With a competitive price point and no HOA fees, this property represents an affordable entry into the Phoenix market with significant potential for long-term appreciation.
The assigned schools have low performance ratings (2/10 and 3/10), which may be a drawback for families and could impact future resale demand.
Built in 1964, the home may require capital improvements or modernization to meet contemporary standards and maximize its market value.
Great opportunity to own a 3 bed, 2 bath home with 1,222 sq ft in a convenient Phoenix location near major highways for easy commuting. The home offers a functional layout with comfortable living spaces and well-sized bedrooms, ideal for everyday living. Currently tenant-occupied, this property is a strong investment opportunity with immediate rental income potential. Perfect for investors looking to expand their portfolio or for first-time buyers seeking an affordable home with long-term upside and the ability to personalize over time.
No exterior & parking available.
Grades K-8 • 0.3 mi
Grades 9-12 • 1.9 mi
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 | 1,222 | 1,454 | 28% |
| Lot Size | 6,203 | 6,003 | 55% |
| Price | $310.0K | $325.0K | 49% |
| Price per sq ft | $254 | $222 | 68% |
| Built year | 1964 | 2003 | 22% |
| HOA | $0 | $0 | 50% |
| Days on market | 43 | 978 | 1% |
Mar 14, 2026
$310,000
Initial Listing