8002 N 42ND Avenue, Phoenix, AZ 85051, Phoenix, 85051 - 3 bed, 2 bath
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Phoenix, AZ 85051
This Short Sale Investment Asset is a High-Potential Investment Opportunity listed at $250,000, matching its $250,000 Fair Market Value. Currently in Poor Condition (Score: 5), the property requires a total renovation but offers significant upside via its unpermitted garage and patio conversions. Neighborhood trends show renovated homes in this area command significantly higher prices, providing a clear path to forced appreciation. With No HOA Restrictions, this high-reward project is perfectly positioned for Fix-and-Flip Investors or Contractors seeking a value-add project in Phoenix.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8002 N 42ND Avenue Subject | $265,000* List Price | 3 | 2 | 1,246 | $150 | - |
A 4225 W GRISWOLD Road Sold | $265,000 | 3 | 2 | 1,116 | $237 | 0.2 mi |
B 3714 W Echo Lane Sold | $262,500 | 3 | 2 | 1,240 | $212 | 0.7 mi |
C 3521 W BUTLER Drive Sold | $301,000 | 3 | 2 | 1,329 | $226 | 0.9 mi |
D 4147 W EL CAMINO Drive Sold | $228,499 List Price | 3 | 2 | 1,503 | 0.2 mi | |
E 4150 W KALER Drive Sold | $265,900 | 2 | 1 | 1,253 | $212 | 0.3 mi |
F 3519 W HARMONT Drive Active | $300,000 List Price | 3 | 2 | 1,320 | $227 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property is a short sale being sold as-is and is explicitly stated to need too much work for typical financing, indicating significant deferred maintenance. Built in 1977, it features outdated popcorn ceilings, heavily worn carpeting, and unpermitted conversions of the garage and patio. While some kitchen appliances are stainless steel, the overall interior condition, including the flooring and walls, requires substantial rehabilitation to meet modern standards.
Priced competitively at $250,000, this property presents a significant opportunity for investors or flippers to build equity through a comprehensive renovation in the Phoenix market.
The property includes a converted garage and enclosed patio that offer substantial extra space beyond the official 1,246 square feet, providing a foundation for expanded living areas.
The absence of a homeowners association allows for greater flexibility in property management and eliminates monthly association fees, increasing long-term affordability.
The home's current condition makes it ineligible for traditional financing, restricting the buyer pool primarily to cash investors or those with specialized renovation loans.
Both the garage and patio conversions were completed without permits, posing potential legal risks and requiring additional investment to bring the structures up to city code.
Short Sale. Being sold as-is. Needs work. The house needs too much work for typical financing. Lots of potential. Send your offers. 3 bed/2 bath 1246 sf. 2 car garge that has been converted to unpermitted living space but can easily be made back into a garage. Patio has been converted to unpermitted enclosed storage room. These two rooms are NOT included in the 1246 sf.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,246 | 1,620 | 17% |
| Lot Size | 6,987 | 7,662 | 35% |
| Price | $265.0K | $349.9K | 29% |
| Price per sq ft | $213 | $215 | 49% |
| Built year | 1977 | 1967 | 79% |
| HOA | $0 | $0 | 50% |
| Days on market | 86 | 350 | 4% |
Apr 22, 2026
$265,000
$250,000
+6% Price Increase
Initial Listing
Jan 30, 2026
$250,000
Initial Listing