5326 N LAS CASITAS Place, Phoenix, AZ 85016, Phoenix, 85016 - 2 bed, 2 bath
Loading property details...
Phoenix, AZ 85016
This Detached Patio Home represents a unique asset in the 85016 zip code, listed at $505,000—reflecting a stable valuation near its $487,686 Fair Market Value. Featuring a Good Condition Rating, the residence offers stone countertops, updated cabinetry, and a private patio with no shared walls. Situated within the prestigious Madison School District, the property provides immediate rental income with a tenant in place through May 2027. This turn-key opportunity is perfectly suited for 1031 Exchange Investors or Buy-and-Hold Investors looking for a low-maintenance, high-demand rental in the Biltmore corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5326 N LAS CASITAS Place Subject | $505,000* List Price | 2 | 2 | 1,564 | $312 | - |
A 4808 N 24TH Street 824 Active | $484,000 List Price | 2 | 2 | 1,528 | $317 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1971, the property is move-in ready and has undergone significant updates. The kitchen features stone countertops, white raised-panel cabinetry, and a modern faucet. The bathroom has been updated with a tiled tub surround and a matching vanity. The flooring consists of large-format neutral tile throughout the main living areas. While the appliances and fixtures are not brand new, they appear well-maintained and functional, placing the property in the 'good' category as it has been renovated within the 5 to 15-year range.
As one of only two patio homes in the community with no shared walls, this property offers the privacy and quiet of a single-family residence within a managed environment.
Situated in a highly desirable Phoenix corridor, the property provides excellent access to the Biltmore area, upscale dining, and the sought-after Madison School District.
The property is currently tenant-occupied through May 2027, offering a turn-key opportunity for 1031 exchange investors seeking guaranteed cash flow from day one.
The long-term lease commitment until 2027 makes this property unsuitable for traditional owner-occupant buyers who need a primary residence in the near term.
The requirement of an accepted offer prior to viewing and the 'do not disturb' tenant policy create significant barriers for buyers to conduct initial physical due diligence.
One of only 2 PATIO Homes in this community - NO Walls attached. Tenant Occupied until 5/1/2027. Please do NOT disturb. NO SIGN on Property. Shown With Accepted Offer ONLY. Seller doing 1031 Exchange-subject to finding suitable replacement property
No exterior & parking available.
Grades 5-8 • 0.2 mi
Grades PK-4 • 1.1 mi
Grades 9-12 • 2.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,564 | 1,189 | 76% |
| Lot Size | 3,036 | 1,008 | 89% |
| Price | $505.0K | $381.5K | 77% |
| Price per sq ft | $323 | $312 | 54% |
| Built year | 1971 | 1984 | 10% |
| HOA | $500 | $365 | 63% |
| Days on market | 52 | 1430 | 1% |
Mar 5, 2026
$505,000
Initial Listing