3840 N 43RD Avenue 29, Phoenix, AZ 85031, Phoenix, 85031 - 3 bed, 2 bath
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Phoenix, AZ 85031
This Tenant-Occupied Condominium serves as a high-utility Immediate Income Asset with a List Price of $132,000, reflecting a stable entry point near its $120,950 Fair Market Value. Currently maintaining a Condition Rating of 4, the unit offers a spacious 1,243 sqft layout and a private patio, ensuring consistent rental appeal in the Phoenix market. The existing tenancy provides instant ROI by eliminating initial vacancy periods and marketing costs. Located near Glenn L. Downs Elementary and Maryvale High School, this property is a stable, low-barrier acquisition for Buy-and-Hold Investors or first-time investors seeking predictable cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3840 N 43RD Avenue 29 Subject | $132,000* List Price | 3 | 2 | 1,243 | $97 | - |
A 3840 N 43RD Avenue 58 Sold | $110,000 | 3 | 2 | 1,243 | $88 | 0.0 mi |
B 3840 N 43RD Avenue 79 Sold | $115,000 | 3 | 2 | 1,243 | $93 | 0.1 mi |
C 3840 N 43RD Avenue 79 Sold | $115,000 | 3 | 2 | 1,243 | $93 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1975, this property is functional and currently tenant-occupied, but it shows clear signs of age and lacks modern updates. The bathroom features basic tile and a standard white vanity that, while functional, is dated. The exterior wood railings show significant weathering. As an investor-focused property that has not undergone a full recent renovation, it meets the 'fair' criteria of being aged but maintained through regular upkeep with components that are functional but outdated.
The property is currently tenant-occupied with a resident who wishes to stay, offering investors instant cash flow and eliminating the need for immediate marketing or vacancy periods.
At a list price of $132,000 for a three-bedroom unit, this property offers a highly competitive price-per-square-foot, making it an accessible entry point for first-time investors.
The 1,243 sqft floor plan features a clear separation of space with living areas downstairs and sizable bedrooms upstairs, complemented by a private patio and dedicated carport.
The monthly association fee of $341 is relatively high in proportion to the purchase price, which could compress net monthly cash flow for an owner.
Built in 1975, the property may require upcoming capital expenditures for maintenance or modernization of older systems to preserve its long-term value.
Perfect property for investors to purchase and make instant income because the unit is tenant occupied, and tenant would like to stay if possible. Spacious living area downstairs with a half bathroom for convenience. Upstairs, you'll find the sizable bedrooms and the bathroom comprised of a tub/shower combination for added comfort. Out the back, you'll find a patio, and 1 carport space. You don't want to miss this opportunity!
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades 9-12 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 67% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,243 | 936 | 73% |
| Lot Size | 576 | 706 | 20% |
| Price | $132.0K | $69.0K | 93% |
| Price per sq ft | $106 | $88 | 87% |
| Built year | 1975 | 1983 | 40% |
| HOA | $341 | $340 | 67% |
| Days on market | 486 | 1454 | 20% |
Dec 26, 2024
$132,000
Initial Listing