85040 Homes under $300,000

Welcome to the vibrant community of Phoenix, Arizona, specifically the charming zip code 85040! Nestled in the heart of Maricopa County, this area offers a unique blend of urban convenience and suburban tranquility, making it an ideal place for families, first-time homebuyers, and anyone seeking a welcoming community.

One of the standout features of the 85040 zip code is its affordability. Here, you can discover a range of homes priced under $300,000, providing an excellent opportunity for those looking to invest in the Phoenix real estate market without breaking the bank. These homes often feature spacious layouts, modern amenities, and are situated in family-friendly neighborhoods. Whether you’re searching for a cozy starter home or a charming townhouse, 85040 has something to suit every taste and budget.

Beyond the homes, the area boasts a wealth of local amenities. Residents can enjoy easy access to parks, schools, shopping centers, and dining options, all while being just a short drive from the bustling heart of downtown Phoenix. The nearby South Mountain Park offers stunning hiking and biking trails, perfect for outdoor enthusiasts looking to explore Arizona's natural beauty.

With its affordable housing options, community spirit, and prime location, 85040 is more than just a zip code; it’s a place to call home. If you’re ready to explore the possibilities in this thriving Phoenix neighborhood, let us help you find your dream home today!

Newest 85040 Homes under $300,000

$230,000

3 Beds ⋅ 2 Baths ⋅ 7092530 MLS ⋅ ACTIVE Status ⋅ 0.16 Acres ⋅ 85040 Zip Code

INVESTOR SPECIAL! FIXER-UPPER WITH GREAT POTENTIAL! This 3-bedroom, 2-bath property features a separate 1-bedroom casita, offering flexible living arrangements or potential rental income. No HOA! Enjoy a prime location close to public transportation, including the Valley Metro Light Rail. Great opportunity for investors or buyers looking to renovate and add value. Bring your vision and make this property shine!

1757 E Hidalgo Avenue, Phoenix

$162,500

2 Beds ⋅ 1 Baths ⋅ 7092409 MLS ⋅ ACTIVE Status ⋅ 0.02 Acres ⋅ 85040 Zip Code

Beautifully remodeled, this two-bedroom, one-bath townhome is available and move-in ready. Fresh paint and carpet, as well as new cabinets, quartz countertops, and ceramic bathroom tile; make this home updated without the time and expense of doing it yourself. All for less than dated similar available properites. Centrally located, this property is only minutes from Sky Harbor Airport and downtown Tempe. Take a look at this town home today, it is priced to move quickly!

4629 E Southgate Avenue, Phoenix

$199,000

3 Beds ⋅ 1 Baths ⋅ 7089018 MLS ⋅ ACTIVE Status ⋅ 0.02 Acres ⋅ 85040 Zip Code

Discover modern living in this beautifully remodeled 3-bedroom, 1-bath townhouse! Enjoy a bright, open living space filled with natural light and stylish wood-look plank flooring. The fully updated kitchen features sleek quartz countertops, a smooth-top electric range, and stainless steel appliances. Upstairs, find generously sized, updated bedrooms and a stylish bathroom. Relax on your private patio or enjoy the community pool just steps away. Additional features include assigned parking, laundry hookups, and extra storage. Conveniently located just minutes from Phoenix Sky Harbor International Airport, Downtown Phoenix, ASU, and major freeways, this move-in-ready home offers modern style and everyday convenience!

4015 S 45th Street, Phoenix

$299,000

3 Beds ⋅ 2 Baths ⋅ 7085352 MLS ⋅ ACTIVE Status ⋅ 0.15 Acres ⋅ 85040 Zip Code

Perfectly situated on a large North/South lot. This 3bed, 2bath home is move in ready with fresh carpet! Entertain with ease in the great room meeting the dining. The chic kitchen features stainless steel appliances, an open pantry and gas cooking. Biking and hiking trails nearby. World class shopping, restaurants, museums and nightlife right outside your doorstep! Plus quick access to freeways for easy commuting.

2418 E Mobile Lane, Phoenix

$180,000

2 Beds ⋅ 1 Baths ⋅ 7083186 MLS ⋅ ACTIVE Status ⋅ 0.15 Acres ⋅ 85040 Zip Code ⋅ 648 SqFt.

Unlock the possibilities with this 2-bedroom, 1-bath home offering approximately 648 square feet of living space on a R-3 multifamily-zoned lot. The property is in need of repairs and updating, making it an excellent opportunity for investors, developers, or buyers looking to renovate and add value. R-3 zoning offers exciting possibilities for future expansion. Conveniently located near Downtown Phoenix and Phoenix Sky Harbor International Airport, with easy access to major roadways, transportation, shopping, and schools, this may be the investment opportunity you have been waiting for. PLEASE NOTE: The property does not currently have an electric meter. Buyer to verify all utilities, zoning, development possibilities, and any requirements for installation and activation of electrical service. Bring your vision and explore the possibilities this centrally located property has to offer. ***DO NOT DISTURB TENANT. PLEASE SEE VIRTUAL TOUR BEFORE SENDING AN OFFER***

4604 S 5th Street, Phoenix

$179,000

3 Beds ⋅ 2 Baths ⋅ 7081051 MLS ⋅ ACTIVE Status ⋅ 0.02 Acres ⋅ 85040 Zip Code

Perfect starter home completely remodeled in 2020 and since then we have installed brand New A/C, New vinyl flooring, New WINDOWS, and appliances. This home is turn key.

4419 E Wood Street, Phoenix

$169,900

3 Beds ⋅ 1 Baths ⋅ 7077484 MLS ⋅ ACTIVE Status ⋅ 0.02 Acres ⋅ 85040 Zip Code

Move-in ready 3-bedroom townhome in Hallcraft Villas East. Freshly painted in 2026, this vacant two-story features a bright formal living room, separate dining area, and eat-in kitchen with walk-in pantry. Full bath upstairs serving all three bedrooms. Private fenced patio with dedicated storage and washer/dryer hookups. Two designated parking spaces. HOA covers blanket insurance, exterior and roof, water/sewer, trash, and common area maintenance -- genuinely low-maintenance ownership. Community pool and playground. Tempe schools. Minutes to Sky Harbor, ASU, Downtown Phoenix, Tempe Marketplace, and I-10, Loop 143 and US-60. Rentals permitted. FHA and VA welcome; buyer may qualify for down payment assistance.

4627 E Southgate Avenue, Phoenix

$210,000

1 Beds ⋅ 1 Baths ⋅ 7074953 MLS ⋅ ACTIVE Status ⋅ 0.14 Acres ⋅ 85040 Zip Code ⋅ 771 SqFt.

ATTENTION INVESTORS, DEVELOPERS, AND CASH BUYERS: UNLOCK EXTREME INCOME VELOCITY IN THE PHOENIX GRID. Presenting a premier, high-yield opportunity offered STRICLY AS-IS / CASH ONLY, positioning you to secure a blank canvas asset with immediate execution equity. Take full strategic advantage of Arizona's landmark housing legislation (HB 2720 / A.R.S. § 9-461.18). This expansive lot layout is perfectly primed for a high-density Home + Casita Package, giving buyers the blueprint to construct detached accessory dwelling units (ADUs)--effectively transforming this single residential parcel into a high-cash-flow, multi-unit revenue engine. This streamlined acquisition features a clear title and accelerated closing velocity, with a Turnkey Casita Upgrade Package Available to deploy a structured,

1720 E Illini Street, Phoenix

$167,500

2 Beds ⋅ 2 Baths ⋅ 7067573 MLS ⋅ ACTIVE Status ⋅ 0.02 Acres ⋅ 85040 Zip Code ⋅ 1,016 SqFt.

This beautifully upgraded townhouse in Tempe Butte Condominiums offers modern, low-maintenance living in a prime location. The home features brand-new kitchen countertops and cabinets, a private patio, and a separate storage closet. Residents also enjoy community amenities including a swimming pool and playground. Conveniently located near major freeways, ASU, Phoenix Sky Harbor Airport, shopping, dining, and public transportation, this home offers easy access to everything the area has to offer. A fantastic opportunity for first-time buyers, investors, or anyone seeking an affordable, low-maintenance home. The floor plan has strong rental potential and can rent for approximately $1,500/month. Don't miss this incredible opportunity!

4428 E Wood St Street Unit 595, Phoenix

$285,000

2 Beds ⋅ 2 Baths ⋅ 7065225 MLS ⋅ ACTIVE Status ⋅ 0.01 Acres ⋅ 85040 Zip Code

This adorable 2-bedroom, 2-bathroom home is located in the heart of South Phoenix. Featuring a unique tri-level floor plan, this home is anything but ordinary! The spiral staircase leads to the private primary suite, keeping guests and common areas separate on the main level. The guest room doubles as an office and can quickly convert to a bedroom with the built-in Murphy bed. Take a stroll through the neighborhood to soak in the mountain views or cool off in the community pool. Located just minutes from Sky Harbor Airport and everything Downtown Phoenix has to offer - including shops, dining and entertainment! With easy access to all major freeways, getting around the Valley is a breeze! This won't last long, come check it out!

5734 S 21st Terrace, Phoenix

$176,000

3 Beds ⋅ 2 Baths ⋅ 7063254 MLS ⋅ ACTIVE Status ⋅ 0.03 Acres ⋅ 85040 Zip Code ⋅ 1,008 SqFt.

Welcome home to this 3-bedroom townhome in Hallcraft Villas East, offering 1.5 baths, two assigned parking spaces (#153 & #154), and convenient visitor parking just steps away at the back of the property. Inside, enjoy a bright living space with wood-look flooring and a well-appointed kitchen featuring quartz countertops, white cabinetry, tile backsplash, walk-in pantry, and stainless steel appliances. Upstairs, all bedrooms offer comfortable retreats with plush carpeting. Relax on the private patio or enjoy extra storage with the attached shed. The community offers a playground, basketball court, and a convenient location near shopping, dining, and transportation. Don't miss this opportunity!

4634 E Southgate Avenue, Phoenix

$189,000

2 Beds ⋅ 2 Baths ⋅ 7062932 MLS ⋅ ACTIVE Status ⋅ 0.03 Acres ⋅ 85040 Zip Code ⋅ 792 SqFt.

A tenant-occupied condo with over 12 years of ownership history and a clean rental record -- not a single missed payment. This 2-bedroom, 2-bathroom, 792 SF one-story unit is leased at $1,075/month on an active annual lease (under market, with upside for the next owner). Recent updates include new flooring, an updated kitchen, and a newer roof. HOA is $348/month. Appraised at $190,000 two months ago . No yard sign due to tenant occupancy -- review the numbers, condition, and long-term rent history without disrupting the tenant. A dependable, low-drama hold for an investor who wants proof of performance, not projections.

4450 E Pueblo Avenue, Phoenix

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