2840 W MICHELLE Drive, Phoenix, AZ 85053, Phoenix, 85053 - 3 bed, 2 bath
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Phoenix, AZ 85053
This Single Family Residence represents a High-Potential Investment Opportunity, listed at $349,000—positioned well below the $353,628 Fair Market Value by 1%. This valuation gap offers $4,628 in Instant Equity. With a Fair Condition Rating, the property features a Private Swimming Pool and a large lot, currently generating immediate rental income. Its turnkey status and lack of HOA fees make this a stable, income-producing asset. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a value-add property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2840 W MICHELLE Drive Subject | $349,000* List Price | 3 | 2 | 1,190 | $297 | - |
A 2807 W CHARLESTON Avenue Sold | $285,000 | 3 | 2 | 1,343 | $212 | 0.1 mi |
B 3226 W MICHELLE Drive Sold | $340,000 | 3 | 2 | 1,085 | $313 | 0.5 mi |
C 3437 W HELENA Drive Sold | $380,000 | 3 | 2 | 1,390 | $273 | 0.8 mi |
D 2950 W VILLA THERESA Drive Sold | $310,000 | 2 | 2 | 930 | $333 | 0.3 mi |
E 3228 W MURIEL Drive Sold | $385,000 | 3 | 2 | 1,422 | $271 | 0.5 mi |
F 2839 W WAGONER Road Sold | $430,000 | 4 | 2 | 1,583 | $272 | 0.2 mi |
G 17853 N 35TH Avenue Sold | $325,000 | 2 | 1 | 910 | $357 | 0.8 mi |
H 3208 W JUNIPER Avenue Sold | $370,000 | 3 | 2 | 1,437 | $257 | 0.8 mi |
I 2837 W GROVERS Avenue Pending | $349,900 List Price | 3 | 2 | 1,445 | $242 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1978, this 46-year-old property is functional as a rental but likely features dated interiors. While the exterior shows signs of maintenance (modern paint and intact roof), the absence of renovation details for the kitchen and baths suggests they are over 20 years old and in need of cosmetic updates to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7205, living area = 1190.
The property is currently tenant-occupied and generating revenue, offering a turnkey opportunity for investors to earn ROI from day one without a vacancy period.
Featuring a sparkling backyard pool, this highly desirable amenity significantly boosts rental demand and long-term property value in the Phoenix climate.
The 'do not disturb tenants' requirement and current occupancy can make initial viewings and comprehensive inspections more difficult to coordinate.
At 1,190 square feet for a three-bedroom, two-bath home, the interior living space may feel constrained compared to larger contemporary layouts in the area.
This 3 bedroom, 2 bath home is tenant occupied and actively generating rental income, making it a seamless addition to your portfolio. Enjoy right, spacious layout built for easy living. The private backyard features a sparkling swimming pool, a highly sought-after amenity that maximizes rental demand and value.Nestled in a quiet neighborhood, it is minutes from schools, parks, shopping, and dining, with quick highway access for an easy commute. Start earning ROI from day one. Property is rented. DO NOT DISTURB TENANTS !
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,190 | - |
| Lot Size | 7,205 | - |
| Price | $349.0K | $495.4K |
| Price per sq ft | $293 | $290 |
| Built year | 1978 | 0 |
| HOA | $0 | $0 |
| Days on market | 7 | 1260 |
Jul 15, 2026
$349,000
Initial Listing