3248 E Holly Street, Phoenix, AZ 85008, Phoenix, 85008 - 6 bed, 2 bath
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3248 E Holly Street
Phoenix, AZ 85008
ACTIVE
CONDITION: POOR
6Beds
2Baths
1,903Sq Ft
7,344Lot Size
Property Price
LIST PRICE$374,000
EST. MARKET VALUE
$384,027
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $374,000—positioned well below the $384,028 Fair Market Value by 2%. This valuation gap offers $10,028 in Instant Equity for buyers prepared to manage a full-scale renovation. Featuring a Fair Condition Rating and Solid Block Construction, the 6-bedroom layout provides significant high-occupancy potential. This is a distressed REO asset ideal for Fix-and-Flip Investors or Contractors seeking a value-add project in a central Phoenix location.
Estimated Market Value
$384,027
Based on Realkey algorithm analyzing recent comparable sales in Phoenix.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1951 and marketed as an REO 'Investor Special,' this property requires a complete transformation and significant repairs throughout. The age (>70 years) without recent renovations and the 'as-is' condition indicate a need for a full rehab rather than minor updates.
PROSSTRENGTHS & OPPORTUNITIES
- High Density Potential
With 6 bedrooms in a 1,903 sqft footprint, this property offers rare high-occupancy potential, making it an ideal candidate for a high-yield rental or multi-generational living.
- Solid Block Construction
The 1951 single-level block home provides a durable and energy-efficient foundation, highly desirable for long-term stability and structural integrity in the Phoenix climate.
- No HOA Restrictions
The absence of an association fee offers owners maximum flexibility for renovations, landscaping, and property usage without the oversight or recurring costs of a homeowners association.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 4.
- Significant Capital Expenditure
The property is a 'complete transformation' project requiring extensive repairs and updates throughout, which will necessitate a substantial renovation budget beyond the purchase price.
- Distressed Sale Limitations
As a lender-owned (REO) property sold strictly in as-is condition, buyers may face challenges with traditional financing and must navigate limited seller disclosures.
About 3248 E Holly Street
Investor Special with Significant Renovation Potential! This single-level block home offers approximately 1,903 square feet and is ready for a complete transformation. Situated on a generously sized lot, the property provides an excellent opportunity for an investor, contractor or experienced buyer looking to renovate, reposition and create long-term value. The home needs repairs and updating throughout, but its established central Phoenix location, functional footprint and renovation potential make it an attractive project. Bring your vision and explore the possibilities of restoring, redesigning or modernizing this property. This is a lender-owned/REO property being sold in its current as-is condition.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1951
- Lot Size
- 7,344 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Phoenix Unified Schools
Papago School
Grades PK-8 • 0.4 mi
3/10
Camelback High School
Grades 9-12 • 2.4 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,903 | 1,850.5 |
| Lot Size | 7,344 | 7,313 |
| Price | $374.0K | $481.7K |
| Price per sq ft | $197 | $289 |
| Built year | 1951 | 1987 |
| HOA | $0 | $175 |
| Days on market | 17 | 757 |
Pricing History
Listed for Sale
Jul 29, 2026
$374,000
Initial Listing