5116 E BERNEIL Drive, Paradise Valley, AZ 85253, Paradise Valley, 85253 - 3 bed, 3 bath
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Paradise Valley, AZ 85253
This Prime Development Asset represents a Strong Value Opportunity, with a List Price of $2,750,000—positioned well below the $2,970,906 Fair Market Value by 7%. This valuation gap provides $220,906 in Instant Equity for a high-yield project. While the existing structure has a Fair Condition Rating with structural safety concerns, the flat 1.02-acre corner lot offers Mountain Views and sits within the elite "3 C" School District. Surrounded by $10M estates, this is a premier acquisition for Luxury Developers or Custom Home Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5116 E BERNEIL Drive Subject | $2,695,000* List Price | 3 | 3 | 3,602 | $628 | - |
A 9814 N 53RD Place Pending | $2,675,000 List Price | 4 | 4 | 4,051 | $660 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
While the property has received some recent functional updates including a new A/C (2024), water heater (2022), and flooring (2021), it is primarily marketed as a tear-down or major remodel project. The listing explicitly warns against walking on the upstairs balcony, indicating significant structural safety concerns. The 1978 interior features dated aesthetics, with the kitchen and bathrooms only receiving surface-level resurfacing rather than modern renovations, making it functionally obsolete for its high-value location.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 44421, living area = 3602.
Elementary School: Cherokee Elementary School (9/10).
Situated on a flat corner lot in the heart of Paradise Valley, this property is ideal for a luxury new build, with neighboring homes reaching valuations of up to $10 million.
The explicit warning against using the upstairs balcony indicates significant deferred maintenance or structural safety issues that will require immediate attention or total demolition.
As a 1978 build in an area where most original homes have been replaced, the existing structure may not meet modern luxury standards, likely positioning the sale primarily as land value.
AMAZING LOT-PERFECT FOR A LUXURY NEW BUILD (MOST OF THE HOMES ON THE STREET HAVE BEEN TORN DOWN AND REPLACED WITH HOMES VALUED UP TO $10M) OR REMODEL THE EXISTING HOME. TENANT IN PLACE MONTH TO MONTH-WILL STAY DURING PERMIT PROCESS!*GREAT FLAT CORNER LOT IN THE HEART OF PARADISE VALLEY* ENDLESS POSSIBILITIES*UPDATED CARPET AND TILE FLOORING IN 2021, WATER HEATER REPLACED 2022, A/C UNIT REPLACED 2024, KITCHEN, MASTER BATHROOM SHOWER RESURFACED 2023 PRIMARY BEDROOM RETILED IN 2021*LOCATED IN THE 3 ''C'' SCHOOLS. TENNIS COURT HAS BEEN REMOVED, BUT LIGHTING AND FENCING REMAIN*DO NOT DISTURB THE TENANT- ***PLEASE DO NOT WALK ON UPSTAIRS BALCONY FLOOR.
No exterior & parking available.
Grades PK-5 • 0.8 mi
Grades 6-8 • 2.1 mi
Grades 9-12 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 21% |
| Baths | 3.0 | 4.0 | 26% |
| Square foot | 3,602 | 4,661 | 34% |
| Lot Size | 44,421 | 44,038 | 53% |
| Price | $2.69M | $2.50M | 53% |
| Price per sq ft | $748 | $683 | 55% |
| Built year | 1978 | 1982 | 44% |
| HOA | $0 | $0 | 50% |
| Days on market | 51 | 2511 | 1% |
Apr 15, 2026
$2,695,000
$2,750,000
-2% Price Drop
Initial Listing
Mar 2, 2026
$2,750,000
Initial Listing