3126 N 28TH Street, Phoenix, AZ 85016, Phoenix, 85016 - 4 bed, 3 bath
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Phoenix, AZ 85016
This Historic Adobe Estate with Guest House is a High-Potential Investment Opportunity, listed at $824,000—positioned well below the $1,012,860 Fair Market Value by 18%. This valuation gap provides $188,860 in Instant Equity. Boasting an Excellent Condition Rating, the property features new 2025 roofs, tankless water heaters, and a heated diving pool on a lush 1/3-acre lot. The detached 2-bedroom guest house offers immediate rental income or multi-generational utility. This rare find is perfect for Owner-Occupants looking to house-hack or Buy-and-Hold Investors seeking a unique, high-yield asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3126 N 28TH Street Subject | $824,000* List Price | 4 | 3 | 2,051 | $494 | - |
A 3324 N 25TH Street Sold | $675,000 | 3 | 2 | 1,872 | $361 | 0.4 mi |
B 2709 E CLARENDON Avenue Sold | $840,000 | 4 | 3 | 2,252 | $373 | 0.4 mi |
C 2237 E OSBORN Road Sold | $595,000 | 3 | 2 | 2,020 | $295 | 0.6 mi |
D 2709 E CLARENDON Avenue Sold | $840,000 | 4 | 3 | 2,294 | $366 | 0.4 mi |
E 2709 E CLARENDON Avenue Sold | $840,000 | 3 | 3 | 1,980 | $424 | 0.4 mi |
F 2237 E OSBORN Road Sold | $595,000 | 3 | 2 | 2,020 | $295 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1940, this historic adobe estate has undergone extensive recent renovations that meet the highest quality standards. The property features brand-new 2025 roofs, tankless water heaters, and fully updated interiors including modern flooring, contemporary light fixtures, and newly tiled showers. The integration of historic character with high-end modern finishes and a meticulously maintained resort-style backyard puts this property in like-new condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 14999, living area = 2051.
The property features a full 2-bedroom, 1-bathroom guest house, providing excellent flexibility for rental income, a dedicated home office, or multi-generational living arrangements.
This rare 1940 adobe estate preserves its unique historic character while offering peace of mind with significant recent upgrades, including new 2025 roofs and tankless water heaters.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2051, other record living area = 1323.
The local public schools are currently rated low (3/10), which may be a significant drawback for families prioritizing high-performing academic districts.
Despite the updates, a 1940s adobe structure can present unique long-term maintenance challenges and potential insurance complexities compared to contemporary construction.
Discover a rare opportunity in Phoenix's historic Homesteads neighborhood--a beautifully updated adobe estate on nearly 1/3 acre with GUEST HOUSE. The main 1940 adobe home features 2 bedrooms and 2 bathrooms, blending classic character with modern upgrades including new tiled showers, tankless water heaters, and new 2025 roofs. A guest house on the opposite corner of the property offers 2 bedrooms, 1 bath, and endless flexibility--perfect for rental income, multigenerational living, or a dedicated home office. Step outside to your own private resort-style retreat with a heated diving/lap pool, lush mature landscaping, and fruit-bearing trees including citrus, apple, plum, and almond--all nourished by flood irrigation. Set on a spacious corner lot with north/south
No exterior & parking available.
Grades K-8 • 0.3 mi
Grades 9-12 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 74% |
| Baths | 3.0 | 2.0 | 58% |
| Square foot | 2,051 | 1,886.5 | 60% |
| Lot Size | 14,999 | 8,294 | 92% |
| Price | $824.0K | $595.0K | 71% |
| Price per sq ft | $402 | $354 | 61% |
| Built year | 1940 | 1955 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 67 | 1490 | 1% |
Feb 18, 2026
$824,000
Initial Listing