85007 Homes under $1 million

Welcome to the vibrant heart of Phoenix, Arizona, where the zip code 85007 offers an enticing blend of urban convenience and suburban charm. Nestled within Maricopa County, this area is known for its rich cultural heritage, diverse community, and an array of amenities that cater to every lifestyle.

One of the standout features of the 85007 zip code is its impressive selection of homes priced under $1 million. Whether you’re a first-time homebuyer, a growing family, or looking for a cozy retirement retreat, you’ll find a variety of options that suit your needs and budget. From charming bungalows with historic character to modern townhomes that boast contemporary designs, the real estate market here is as diverse as the community itself.

Living in 85007 means you’re just minutes away from the bustling downtown Phoenix area, where you can explore a plethora of dining options, local shops, and cultural attractions. Enjoy a day at the nearby parks or take a stroll along the scenic canals that wind through the city. With excellent schools, convenient public transportation, and a strong sense of community, this zip code is perfect for families and professionals alike.

In addition to its affordable housing options, 85007 is also known for its warm climate and stunning desert landscapes, making it an ideal location for outdoor enthusiasts. From hiking trails to golf courses, there’s no shortage of activities to enjoy.

Discover the charm and opportunities that await you in Phoenix’s 85007 zip code, where your dream home is just a visit away!

Newest 85007 Homes under $1 million

$619,000

7087258 MLS ⋅ ACTIVE Status ⋅ 85007 Zip Code

Fully renovated and fully furnished, this turnkey 3-unit short-term rental in Downtown Phoenix offers strong, documented cash flow and an impressive 4.8+ star Airbnb rating. The asset generated $119,442 in gross revenue in 2024 and $103,198 in 2025, with a two-year average revenue of approximately $111,320, producing operating income of $62,272 in 2024 and $53,719 in 2025, for a two-year average NOI of roughly $57,996--reflecting strong operating margins of about 52%. This is a stabilized, high-margin hospitality investment ideal for investors seeking immediate cash flow, experienced short-term rental operators expanding their portfolio, or buyers looking for a prime-location income property in one of Arizona's fastest-growing urban markets. The property located in a high-demand area of Downtown Phoenix, minutes to Chase Field, the Convention Center, ASU Downtown, Roosevelt Row, Van Buren. The property features one 2-bed/1-bath unit, one 1-bed/1-bath unit, and a private studio--each with its own kitchen, full bath, and separate entrance - providing three independent income streams under one roof. A separate laundry room and storage shed support efficient operations for guests and cleaning staff, while the fenced common courtyard with grill, fire pit, lounge seating, and hammock enhances guest experience and occupancy appeal.

1515 W Tonto Street, Phoenix

$479,900

3 Beds ⋅ 2 Baths ⋅ 7085827 MLS ⋅ ACTIVE Status ⋅ 0.17 Acres ⋅ 85007 Zip Code ⋅ 1,626 SqFt.

Light and Bright Historic Chic Charm of a 1930's Spanish Revival on a lot across from the quiet section of Encanto Park next to Palmcroft in Fairview, you get two homes under one roof w/separate entrances and separate newer A/C's. Plus a 18x24 separate Carport structure with convenient alley access. Seller is 2nd owner of 25 years and hopes you'll be the third to invest in and enjoy this friendly neighborhood near Downtown Phoenix flanked between Palmcroft and the Arizona Fairgrounds.

1702 N 15th Avenue, Phoenix

$750,000

3 Beds ⋅ 3 Baths ⋅ 7085267 MLS ⋅ ACTIVE Status ⋅ 0.16 Acres ⋅ 85007 Zip Code ⋅ 1,539 SqFt.

A charming, historic home in the desirable F.Q. Story neighborhood. Move-in ready with a brand-new master bathroom, updated plumbing, and a recently remodeled kitchen complete with quartz counter-tops and custom cabinetry. Beautiful herringbone teak wood flooring, cove ceilings, and cherry wood, stained-glass cabinetry authentic to the home's era. Mature desert landscaping, copper gutters, and a bonus detached artist's studio with separate entrance. Large backyard ready for design.

1126 W Willetta Street, Phoenix

$475,000

2 Beds ⋅ 1 Baths ⋅ 7085101 MLS ⋅ ACTIVE Status ⋅ 0.16 Acres ⋅ 85007 Zip Code ⋅ 844 SqFt.

Located in the F.Q. Story Historic District, this beautifully maintained 2-bedroom, 1-bath Spanish Colonial offers authentic architectural character at an attractive price. Original hardwood floors, coved ceilings, fireplace, original doors, charming niches, and bathroom penny tile preserve the home's historic appeal. The kitchen features a vintage gas stove and retro-style refrigerator. Major improvements include a NEW HVAC system with new ductwork, a NEW electrical panel, grounded outlets, and NEWER windows. A spacious backyard and detached one-car garage offer potential for a guest house or garage conversion. Enjoy historic neighborhood living just minutes from downtown Phoenix.

1517 W Willetta Street, Phoenix

$460,000

2 Beds ⋅ 1 Baths ⋅ 7084572 MLS ⋅ ACTIVE Status ⋅ 0.17 Acres ⋅ 85007 Zip Code

Built in 1936, this charming brick Tudor blends timeless character with thoughtful updates in historic Fairview Place. Original wood floors and doors preserve the home's warmth and craftsmanship, while updates to the kitchen, subway tile bath, roof, HVAC, and electrical provide modern comfort. The generous lot features a spacious backyard with room to relax, entertain, or create your own outdoor retreat, plus smart irrigation, an expansive driveway, and electronic side gate for added convenience and parking. Just steps from Encanto Park and Encanto golf courses, putting some of Central Phoenix's best recreation right outside your door. Enjoy easy access to Downtown Phoenix, Roosevelt Row, dining, entertainment, and major freeways. A rare opportunity to own a piece of Central Phoenix.

1714 N 15th Avenue, Phoenix

$750,000

3 Beds ⋅ 2 Baths ⋅ 7083915 MLS ⋅ ACTIVE Status ⋅ 0.43 Acres ⋅ 85007 Zip Code

Built circa 1880, the National Register-listed Judge Charles A. Tweed House is one of Phoenix's oldest surviving residences and the city's only surviving example of French Second Empire residential architecture. Offering 2,837 SF on a 0.43-acre R-5 lot, the home is livable today and ready for a thoughtful restoration. An exceptional opportunity for a buyer seeking a distinctive historic residence near Downtown Phoenix with significant land and privacy. Also available with adjacent 1621 W Fillmore; together, the parcels total approximately 27,188 SF--creating a rare urban estate-sized property with room for expanded grounds, guest residences, ADUs or future development. A singular opportunity to restore and steward one of Phoenix's most historically significant private residences.

1611 W Fillmore Street, Phoenix

$305,000

3 Beds ⋅ 1 Baths ⋅ 7082862 MLS ⋅ ACTIVE Status ⋅ 0.12 Acres ⋅ 85007 Zip Code ⋅ 1,014 SqFt.

Welcome to this beautifully fully remodeled 3-bedroom, 1-bath home, offering modern updates and move-in-ready appeal. The home features brand-new flooring throughout, a completely updated kitchen with new cabinetry and stainless steel appliances, and new fixtures throughout. The remodeled bathroom features a stylish tiled shower and updated finishes. Major improvements include a new roof, new AC unit, and new water heater, providing added peace of mind for years to come. With its extensive renovations and thoughtful updates, this home is ready for its new owner to simply move in and enjoy!

1717 W Pima Street, Phoenix

$887,000

3 Beds ⋅ 3 Baths ⋅ 7081372 MLS ⋅ ACTIVE Status ⋅ 0.19 Acres ⋅ 85007 Zip Code ⋅ 2,026 SqFt.

Sunset and golf course views greet you from the front patio of this spacious California Ranch historic home. Nestled in the idyllic historic Del Norte neighborhood of central downtown Phoenix, the property sits tucked between the back nine of Encanto Golf Course and beloved Encanto Park. As a contributing property in a historic district this home benefits a tax reduction under State Property Tax Program(STP). Thoughtfully designed with a split floor plan, the home offers three generously sized bedrooms and 2.5 bathrooms. The kitchen provides ample space for cooking and gathering, featuring two pantries, a brand-new cooktop, new stainless-steel appliances, and a large breakfast bar. Throughout the home, you'll find the updates and amenities expected in a property of this caliber The primary bedroom features an en-suite remodeled bathroom with a walk-in shower and a generous walk-in closet. The front bedroom includes its own half bath. French doors from both the primary bedroom and the large family room open directly onto the backyard and an oversized covered patio.The outdoor space is truly an entertainer's dream. It includes a newly renovated pool, a natural-gas fire pit, a built-in barbecue kitchen with sink, and a storage/workshop with electricity.Conveniently located near Encanto Park's tennis and pickleball courts, great restaurants, and all the amenities of downtown Phoenix, this unique historic home offers character, comfort, and valuable property tax-reduction. The one you've been waiting for.

1609 W Virginia Avenue, Phoenix

$624,900

4 Beds ⋅ 3 Baths ⋅ 7081271 MLS ⋅ ACTIVE Status ⋅ 85007 Zip Code

Turnkey triplex opportunity near the Roosevelt Arts District! This updated multifamily property offers an attractive combination of modern interiors, private outdoor space and features designed for strong tenant appeal. Currently generating $3,700/month in gross rents. The property consists of three individually accessed residences, including a 2-bedroom/1-bath unit and two 1-bedroom/1-bath units. Interiors have been extensively updated with wood-look tile flooring, white shaker cabinetry, quartz countertops, stainless-steel appliances and beautifully finished walk-in tile showers. Each residence also offers the convenience of an IN UNIT WASHER / DRYER and dishwasher features that help set these units apart from many competing rentals. Outside, residents enjoy private fenced yard/patio areas, low-maintenance desert landscaping and off-street parking, including two covered parking spaces at the rear. Two of the three units received newer HVAC systems as part of the prior renovation. With three separate residences, updated finishes and a central Phoenix location near Downtown, Roosevelt Row and major employment, dining and entertainment destinations, this property offers an excellent opportunity for an investor looking to add a renovated multifamily asset to their portfolio.

1538 W Mckinley Street, Phoenix

$533,000

3 Beds ⋅ 1 Baths ⋅ 7080979 MLS ⋅ ACTIVE Status ⋅ 0.17 Acres ⋅ 85007 Zip Code ⋅ 1,730 SqFt.

Prime Midtown-Downtown residential standalone office building. Features a functional office layout with three large private offices (Potential for more offices), reception area, conference room, break room, full bathroom, storage, and a spacious interior courtyard. Two built in murphy beds for live/work convenience. The entire property is gated with six covered parking spaces and excellent monument signage on McDowell Road. The property is across from the prestigious Encanto-Palmcroft Historic Neighborhood, walking distance to the 7th Avenue & McDowell corridor, and near a variety of popular restaurants, retailers, and everyday amenities. R-5 Zoning.

1111 W Mcdowell Road, Phoenix

$885,000

8 Beds ⋅ 8 Baths ⋅ 7078551 MLS ⋅ ACTIVE Status ⋅ 85007 Zip Code

This exceptional duplex, built in 2024, presents a fantastic investment opportunity in a highly desirable Central Phoenix location. Both units are currently tenant-occupied, providing rental income from day one. Each spacious unit features 4 bedrooms, 3.5 bathrooms, a dedicated laundry room, and an attached 2-car garage. The thoughtfully designed floor plans include two spacious primary suites in each unit--one conveniently located upstairs and one downstairs--along with plenty of additional living space. The beautiful kitchens feature quartz countertops, stainless steel appliances, ample cabinetry, and included washer and dryer. Modern finishes and generous square footage make these units highly desirable for renters.The location offers easy access to major freeways, Downtown Phoenix, the ballpark, arena, airport, and more. Enjoy views of Downtown Phoenix while being just minutes from some of the area's major attractions and employment centers.

1315 W Cocopah Street, Phoenix

$360,000

3 Beds ⋅ 3 Baths ⋅ 7078486 MLS ⋅ ACTIVE Status ⋅ 0.12 Acres ⋅ 85007 Zip Code ⋅ 1,656 SqFt.

Discover this charming 2-story home in Phoenix! NO HOA! Featuring 3 beds, 3 baths, a paver driveway, rear-entry 2-car garage, RV gate, and welcoming front porch. Inside, you'll find tons of natural light, a designer palette, tile floors, and plush carpet in the bedrooms. The inviting living area opens into the kitchen and dining area, for a fresh, open feel. The kitchen is equipped with a pantry, wood cabinets, and built-in appliances. The oversized main bedroom includes a private bath and generous walk-in closet. Outside, the spacious backyard offers plenty of open space and potential to create your ideal outdoor retreat. Enjoy a convenient central Phoenix location close to Downtown, shopping, dining, parks & entertainment, and with easy access to I-17 & I-10. Don't miss this opportunity!

945 W Cocopah Street, Phoenix

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