7848 N 5TH Avenue, Phoenix, AZ 85021, Phoenix, 85021 - 4 bed, 3 bath
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Phoenix, AZ 85021
This Mid-Century Modern Residence is a High-Potential Investment Opportunity listed at $799,900—positioned well below the $1,081,509 Fair Market Value by 26%. This significant valuation gap provides $281,609 in Instant Equity. While maintaining a Condition Rating of 4 with a 2023 roof and diving pool, the interior offers substantial value-add potential through cosmetic modernization. Located in the prestigious Madison School District, this asset balances structural integrity with massive appreciation upside. It is an elite acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7848 N 5TH Avenue Subject | $799,900* List Price | 4 | 3 | 2,450 | $441 | - |
A 805 W NORTHVIEW Avenue Sold | $906,000 | 4 | 3 | 2,377 | $381 | 0.7 mi |
B 537 W El Caminito Drive Sold | $774,900 List Price | 4 | 3 | 1,962 | 0.4 mi | |
C 8113 N 8TH Avenue Sold | $899,900 List Price | 3 | 3 | 2,685 | 0.2 mi | |
D 216 W BELMONT Avenue Sold | $997,000 List Price | 4 | 3 | 2,599 | 0.3 mi | |
E 702 W WHY WORRY Lane Sold | $815,000 | 5 | 3 | 2,805 | $291 | 0.8 mi |
F 131 W DIANA Avenue Sold | $670,000 List Price | 4 | 3 | 2,263 | 0.7 mi | |
G 514 W HAYWARD Avenue Pending | $995,000 List Price | 4 | 3 | 2,490 | $400 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a well-maintained 1971 build that retains much of its original character but requires significant cosmetic updating. While major systems have been addressed—including a new roof (2023), recent water heater (2022), and a functional HVAC—the interior features dated wallpaper, popcorn ceilings, older carpeting, and a kitchen with laminate countertops and aged cabinetry. It is move-in ready but shows clear signs of being outdated relative to modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11709, living area = 2450.
The property features a brand-new roof installed in August 2023 with a 10-year transferable warranty and a 2022 water heater, reducing immediate capital expenditure for the buyer.
Situated in the desirable Madison School District with excellent proximity to hiking, dining, and major transit corridors like SR-51 and I-17, offering high lifestyle convenience.
While meticulously maintained, the home is marketed as having 'potential to update,' suggesting that interior finishes are likely dated and will require additional investment to meet modern aesthetic standards.
Although the elementary and middle schools are highly rated at 7/10, the assigned high school has a significantly lower rating of 3/10, which may be a deterrent for families with older children.
Meticulously maintained 4BD/2.5BA North Central Phoenix home with mid-century modern character, 2-car garage, and approx. 2,450 sq. ft. Great bones and outstanding potential for a buyer to update and create a dream home. Major improvements include a new roof installed Aug. 2023 with 10-year transferable warranty, 2022 water heater, and Carrier HVAC approx. 9 years old. Backyard features a large grassy area, extended covered patio, diving pool with waterslide, and updated pool equipment. Prime location near dining, hiking, SR-51, I-17, and approx. 12 minutes to Sky Harbor. Located in the Madison School District attendance area; buyer to verify schools and enrollment. Priced to sell with the rare chance to live in the North Central area, with architectural plans and drawings available.
No exterior & parking available.
Grades PK-4 • 1.3 mi
Grades 5-8 • 1.3 mi
Grades 9-12 • 3.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 54% |
| Baths | 3.0 | 2.0 | 53% |
| Square foot | 2,450 | 2,082 | 69% |
| Lot Size | 11,709 | 10,424 | 60% |
| Price | $799.9K | $384.0K | 72% |
| Price per sq ft | $326 | $272 | 65% |
| Built year | 1971 | 1959 | 74% |
| HOA | $0 | $0 | 50% |
| Days on market | 60 | 1404 | 1% |
Feb 25, 2026
$799,900
Initial Listing