540 E RENEE Drive, Phoenix, AZ 85024, Phoenix, 85024 - 3 bed, 2 bath
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540 E RENEE Drive
Phoenix, AZ 85024
ACTIVE
CONDITION: GOOD
3Beds
2Baths
2,044Sq Ft
8,588Lot Size
Property Price
LIST PRICE$485,000
EST. MARKET VALUE
$504,115
3% BelowMARKET VALUE
SUMMARY
This versatile North Phoenix home presents a Strong Value Opportunity, listed at $500,000—positioned well below the $530,951 Fair Market Value by 5%. This valuation gap offers $30,951 in Instant Equity. Featuring a Good Condition Rating, the property includes a private pool, new flooring, and a dedicated 220/110 subpanel for workshop use. With no HOA and massive parking capacity, this is an ideal acquisition for Contractors or small business owners seeking a functional, high-utility asset.
Estimated Market Value
$504,115+$19,115 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Phoenix.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 540 E RENEE Drive Subject | $485,000* List Price | 3 | 2 | 2,044 | $247 | - |
A 19215 N 11TH Place Sold | $429,000 | 3 | 2 | 1,476 | $291 | 0.6 mi |
B 14 E PIUTE Avenue Sold | $437,000 | 4 | 3 | 2,271 | $192 | 0.7 mi |
C 19420 N 8TH Street Sold | $440,000 List Price | 3 | 2 | 1,622 | 0.5 mi | |
D 19401 N 6TH Place Sold | $400,000 | 3 | 2 | 1,402 | $285 | 0.5 mi |
E 1314 E TOPEKA Drive Sold | $474,995 | 4 | 2 | 1,548 | $307 | 0.8 mi |
F 19234 N 6TH Street Sold | $440,000 | 3 | 3 | 1,656 | $266 | 0.4 mi |
G 18650 N 4TH Street Sold | $549,000 List Price | 5 | 3 | 2,561 | 0.2 mi | |
H 1313 E Piute Avenue Sold | $350,000 | 3 | 2 | 1,433 | $244 | 0.9 mi |
I 19408 N 9TH Street Active Under Contract | $550,000 List Price | 4 | 2 | 2,097 | $262 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
While built in 1980, the property has been well-maintained with a renovated kitchen (estimated 10-15 years old) and brand new flooring in the living and dining areas. The addition of a separate electrical subpanel and the move-in ready condition of the interior and pool area align with the 'Good' criteria for functional, updated mid-aged homes.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8588, living area = 2044.
- Exceptional Storage & Parking
The property features a 2-car carport with a garage door, a massive 10'x40' tandem carport, and additional yard space, making it an ideal setup for contractors, boat owners, or car collectors.
- Workshop & Business Potential
With no HOA restrictions and a garage equipped with a dedicated 220/110 subpanel, this home offers rare flexibility for small business owners or hobbyists needing functional shop space.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1980, the home may require upcoming investments in major mechanical systems or further cosmetic updates to fully modernize the space beyond the recent flooring improvements.
- School District Ratings
The assigned elementary school has a low rating (2/10), which may be a significant drawback for families prioritizing high-performing public education in their home search.
About 540 E RENEE Drive
Enjoy NO HOA, living within the city, and still having room for your toys! INTERIOR: Year-round leveled Bonus Flex Room off the Kitchen for your office, yoga, gym, wellness room, or playroom. New Flooring in living, dining, flex room. New Interior Paint. 3 spacious bedrooms. Fireplace. EXTERIOR: 2-Car garage that could be your shop, it has Separate Subpanel 220V & 110V with an attached 40' deep tandem carport, RV Gate area for even more parking and also parking in driveway. Low Maintenance Landscaping, Pool & Shed. Great for someone needing storage space, or a small business owner, or a contractor. Room for everything: work vehicles, car collection, toys, or boat (18' boat was stored in Carport). On a cul-de-sac street near 7th St & Union Hills, Quick Access to 101 Loop, 28 min to TSMC
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1980
- Lot Size
- 8,588 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Phoenix Unified Schools
Eagle Ridge Elementary School
Grades K-6 • 1.1 mi
2/10
Mountain Trail Middle School
Grades 7-8 • 3.3 mi
6/10
North Canyon High School
Grades 9-12 • 1.3 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 2,044 | 1,820.548 |
| Lot Size | 8,588 | 7,305.343 |
| Price | $485.0K | $470.3K |
| Price per sq ft | $237 | $279 |
| Built year | 1980 | 1986 |
| HOA | $0 | $186 |
| Days on market | 81 | 67 |
Pricing History
Listed for Sale
Jul 16, 2026
$485,000
$500,000
-3% Price Drop
Initial Listing
Price Change
Jun 20, 2026
$500,000
Initial Listing