7848 N 5TH Avenue, Phoenix, AZ 85021, Phoenix, 85021 - 4 bed, 3 bath
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Phoenix, AZ 85021
This mid-century residence presents a High-Potential Investment Opportunity with a List Price of $749,900—positioned well below the $864,973 Fair Market Value by 13%. This valuation gap offers $115,073 in Instant Equity for buyers. Featuring a 4-Condition Rating, the home includes a new 2023 roof and large 11,709 sq. ft. lot with a diving pool. Located in the Madison School District, this property is an ideal acquisition for Fix-and-Flip Investors or Owner-Occupants seeking to build significant value through cosmetic modernization.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7848 N 5TH Avenue Subject | $727,000* List Price | 4 | 3 | 2,450 | $297 | - |
A 1638 W NORTHERN Avenue Sold | $530,000 | 4 | 2 | 1,881 | $282 | 0.9 mi |
B 8039 N 11TH Avenue Sold | $915,000 | 4 | 3 | 3,276 | $279 | 0.4 mi |
C 702 W WHY WORRY Lane Sold | $815,000 | 5 | 3 | 2,805 | $291 | 0.8 mi |
D 702 W Why Worry Lane Sold | $815,000 | 5 | 3 | 2,869 | $284 | 0.8 mi |
E 702 W Why Worry Lane Sold | $815,000 | 5 | 3 | 2,869 | $284 | 0.8 mi |
F 124 W El Caminito Drive Active Under Contract | $835,000 List Price | 4 | 2 | 2,471 | $338 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The home is 53 years old and features a significantly dated interior with original 1971 cabinetry, blue laminate countertops, wallpaper, and popcorn ceilings. While major systems are in excellent condition (2023 roof, 2022 water heater, and 9-year-old HVAC), the kitchen and living areas require full cosmetic updates to meet 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 2023 with a 10-year transferable warranty, a 2022 water heater, and updated pool equipment, providing immediate peace of mind and reducing near-term maintenance costs.
Situated in the desirable Modern Groves subdivision within the sought-after Madison School District, this home offers excellent proximity to local dining, hiking, and major transit corridors like SR-51 and I-17.
The property is marketed as having 'potential to update,' indicating that the interior finishes and fixtures likely require a significant additional investment to meet modern luxury standards.
While 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 concern 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 |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,450 | - |
| Lot Size | 11,709 | - |
| Price | $727.0K | $495.4K |
| Price per sq ft | $297 | $290 |
| Built year | 1971 | 0 |
| HOA | $0 | $0 |
| Days on market | 64 | 1260 |
Jul 2, 2026
$727,000
$749,900
-3% Price Drop
Initial Listing
May 20, 2026
$749,900
Initial Listing