2423 E TRACY Lane 3, Phoenix, AZ 85032, Phoenix, 85032 - 2 bed, 2 bath
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Phoenix, AZ 85032
This townhouse presents a High-Potential Investment Opportunity with a List Price of $200,000, which aligns with the current $200,000 Fair Market Value. While the property requires cosmetic modernization, it features a Condition Rating of 4 supported by critical capital improvements, including a 2-year-old roof, 2-year-old HVAC, and a new electrical panel. These upgrades mitigate major maintenance risks, allowing buyers to focus capital on interior value-add renovations. This asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a strategic entry point in Phoenix.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2423 E TRACY Lane 3 Subject | $200,000* List Price | 2 | 2 | 952 | $210 | - |
A 2838 E BECK Lane 2 Sold | $195,000 | 2 | 2 | 870 | $224 | 0.5 mi |
B 2838 E BECK Lane 2 Sold | $195,000 | 2 | 2 | 870 | $224 | 0.5 mi |
C 2838 E BECK Lane 2 Sold | $195,000 | 2 | 2 | 870 | $224 | 0.5 mi |
D 3001 E GRANDVIEW Road 2 Sold | $225,000 | 2 | 3 | 1,048 | $215 | 0.8 mi |
E 2437 E TRACY Lane 1 Active | $205,000 List Price | 2 | 2 | 816 | $251 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is nearly 40 years old but benefits from recent major system upgrades, including a 2-year-old roof, 2-year-old HVAC, and a new electrical panel. However, the interior is significantly dated, featuring original-style parquet flooring, popcorn ceilings, and an unmodernized bathroom, requiring cosmetic updates to meet current market standards.
The property features significant high-cost upgrades including a two-year-old roof, a two-year-old A/C system, and a new electrical panel, providing immediate value and reducing near-term maintenance expenses.
Priced competitively at $200,000, this townhouse offers a solid entry point for investors or first-time buyers looking to build equity through cosmetic renovations in a desirable Phoenix zip code.
Situated in the Spanish Hills community, the home provides excellent proximity to major highways, shopping, and dining, ensuring long-term rental and resale appeal for commuters.
The interior requires modernization and aesthetic updates to meet current market standards, which will necessitate additional upfront capital and effort from the buyer.
With 131 days on the market and a recent price reduction, the property has faced challenges in securing a buyer, which may impact its perceived value during negotiations.
Fantastic opportunity to make this home your own! Major improvements have already been completed, including a 2-year-old roof, 2-year-old A/C system, and new electrical panel providing peace of mind and added value for the next owner. Whether you're looking to move in, renovate, invest, or create your dream home, this property has solid bones and endless potential. Great location, you'll enjoy convenient access to shopping, dining, schools, parks, and major highways. With the big-ticket improvements already taken care of, you can focus on making this home uniquely yours. Don't miss this incredible opportunity to own this property.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 952 | - |
| Lot Size | 483 | - |
| Price | $200.0K | $341.8K |
| Price per sq ft | $210 | $259 |
| Built year | 1985 | 0 |
| HOA | $246 | $0 |
| Days on market | 154 | 1211 |
Jun 27, 2026
$200,000
$205,000
-2% Price Drop
Initial Listing
Feb 19, 2026
$205,000
Initial Listing