
Phoenix, AZ 85051
This Single Family Residence presents a High-Potential Investment Opportunity with a List Price of $374,980—positioned well below the $358,593 Fair Market Value by -4%. While the home maintains a Condition Rating of 4, it features a newer roof and HVAC system, providing a solid foundation for value-add cosmetic updates. The expansive 7,636-square-foot lot and No HOA status offer significant flexibility for customization. This property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a functional, well-located asset with long-term growth potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7364 N 39TH Avenue Subject | $374,980* List Price | 4 | 2 | 1,903 | $188 | - |
A 3625 W ORANGEWOOD Avenue Sold | $320,000 List Price | 4 | 3 | 1,804 | 0.3 mi | |
B 3713 W LAS PALMARITAS Drive Sold | $290,000 | 4 | 2 | 1,912 | $152 | 0.9 mi |
C 3828 W LOMA Lane Sold | $350,000 | 4 | 2 | 2,037 | $172 | 0.6 mi |
D 3828 W LOMA Lane Sold | $350,000 | 4 | 2 | 2,037 | $172 | 0.6 mi |
E 7630 N 42ND Lane Sold | $399,900 | 5 | 3 | 1,775 | $225 | 0.5 mi |
F 4144 W STATE Avenue Sold | $370,000 | 3 | 2 | 1,906 | $194 | 0.4 mi |
G 4004 W MYRTLE Avenue Sold | $335,000 | 3 | 2 | 1,825 | $184 | 0.2 mi |
H 4134 W LINGER Lane Sold | $380,000 | 3 | 2 | 1,954 | $194 | 0.6 mi |
I 4145 W HAYWARD Avenue Active | $430,000 List Price | 4 | 2 | 1,792 | $240 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1961, the home is functional but significantly dated. While the description notes a newer roof and HVAC system, the kitchen features older oak cabinetry and laminate countertops likely over 20 years old. The interior finishes and lighting are aged, requiring cosmetic updates to meet modern standards, though the property remains move-in ready.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7636, living area = 1903.
The property features a newer roof under warranty and a newer air conditioning system, providing significant value and peace of mind regarding high-ticket maintenance items in the Arizona climate.
With no HOA fees and a generous 7,636-square-foot lot, owners enjoy increased financial freedom and ample space for outdoor customization, gardening, or vehicle storage.
As a 1961 'solid canvas,' the home likely requires cosmetic updates and interior modernization to meet current market standards and buyer expectations.
While the property is conveniently located within walking distance of schools, the local elementary and middle schools have lower ratings, which may impact appeal for education-focused families.
Welcome to this fantastic real estate opportunity nestled within the peaceful Melrose Shadows community. Built in 1961, this classic ranch-style block home stands as a solid canvas packed with incredible potential for families, first-time buyers, or savvy investors looking for excellent square footage in a prime central location. Boasting a spacious 1,899 square feet of single-level living space, the property sits comfortably on a generous 7,636-square-foot lot that offers plenty of outdoor room to roam, garden, or create your ultimate desert retreat. Best of all, you can enjoy all the benefits of this established neighborhood with absolutely no HOA fees to worry about. The floor plan is wonderfully functional, offering two living areas, four bedrooms and two bathrooms to easily accommodate a growing family. The kitchen is wide open to the central dining area, making it a naturally social hub for everyday meals and evening entertaining. Durable tile flooring stretches across the main living spaces for a clean look and easy upkeep in the desert climate. The home also features a newer air conditioning system and a newer roof that is still under warranty. Great outdoor space with a large covered patio and the property includes an attached two-car garage to keep your vehicles cool and protected from the Arizona sun. Located just one block from Palo Verde Middle School and within close proximity to a variety of local shopping and dining. This property perfectly combines neighborhood charm with convenient urban access.
No exterior & parking available.
Grades PK-6 • 0.4 mi
Grades 7-8 • 0.1 mi
Grades 9-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,903 | - |
| Lot Size | 7,636 | - |
| Price | $375.0K | $495.4K |
| Price per sq ft | $197 | $290 |
| Built year | 1961 | 0 |
| HOA | $0 | $0 |
| Days on market | 41 | 1260 |
Jun 12, 2026
$374,980
Initial Listing