This North Central Phoenix property presents a moderate flip opportunity. Recently sold for $400K, it features a 3-bed/2-bath layout with 1,938 sqft and desirable upgrades including wood flooring, stainless steel appliances, and a 2-year-old AC unit. However, the Phoenix market is currently experiencing price declines with inventory at a 9-year high, creating downward pressure on values.
Consider a targeted renovation focusing on kitchen modernization and outdoor space enhancement to maximize ROI. Adding a bedroom and bathroom could increase value by $82K (20.5%) based on comp data, while simply adding square footage might yield $88K (22%). With Phoenix's market softening, aim for a quick turnaround to minimize holding costs during this declining market phase.