85040 Homes under $500,000

Welcome to the vibrant community of Phoenix, Arizona, where the 85040 zip code offers an exceptional blend of urban conveniences and suburban charm. Nestled in Maricopa County, this area is known for its stunning desert landscapes, rich cultural heritage, and a warm, inviting atmosphere that makes it a great place to call home.

One of the standout features of the 85040 zip code is its affordability, with numerous homes available for under $500,000. This makes it an attractive option for first-time homebuyers, growing families, and anyone looking to invest in the Phoenix real estate market without breaking the bank. From cozy single-family homes to modern townhouses, there’s a diverse selection of properties that cater to various lifestyles and preferences.

Residents of 85040 enjoy easy access to a plethora of amenities, including shopping centers, parks, and recreational facilities. The area boasts excellent schools and community resources, ensuring that families have everything they need right at their fingertips. Additionally, the proximity to major highways and public transportation makes commuting a breeze, connecting you to the heart of Phoenix and beyond.

With its beautiful weather, friendly neighborhoods, and affordable housing options, the 85040 zip code is a hidden gem in Phoenix. Whether you're looking to settle down or invest in a property, this area promises a fulfilling lifestyle in the sunny heart of Arizona. Come explore the possibilities and discover your dream home today!

Newest 85040 Homes under $500,000

$359,900

3 Beds ⋅ 2 Baths ⋅ 7094723 MLS ⋅ ACTIVE Status ⋅ 0.19 Acres ⋅ 85040 Zip Code ⋅ 1,160 SqFt.

Beautifully remodeled 3 bedroom 2 bath house with many custom features. Wood flooring, recessed lighting ceiling fans. Move in ready. Make this Phoenix home your own! Conveniently located near South Mountain, Downtown Phoenix, Sky Harbor Airport, freeway access, shopping, dining and outdoor recreation. The kitchen boasts stainless steel appliances, a stylish backsplash, granite counters, and beautiful cabinets The bedrooms offer plush carpets and hard wood floors. Outside, a huge backyard with a RV gate and plenty room for work truck, boat or second house. Covered patio, and plenty (Owner Broker)

5222 S 14th Way, Phoenix

$289,000

2 Beds ⋅ 2 Baths ⋅ 7094116 MLS ⋅ ACTIVE Status ⋅ 0.07 Acres ⋅ 85040 Zip Code ⋅ 1,106 SqFt.

Charming Single- Newly Remodeled! Single Story Home with Spacious Split Floor Plan - 2 bedroom 2 bath. The living room showcases exposed high-beam vaulted ceilings and elegant French doors that lead to a private covered patio--ideal for seamless indoor/outdoor living. The kitchen, equipped with all appliances, new stone countertops and flows into a separate dining area, perfect for family meals and entertaining. Additional highlights include a spacious walk-in closet, a covered carport, and a separate storage room. New Roof Installed in 2024. This home in great LOW HOA community with community pool and is just minutes from Hwy 10 and Hwy 60, offering easy access to Downtown, ASU, and Mill Ave. Don't miss this opportunity to enjoy comfort and community living in an unbeatable location

4173 E Huntington Drive, Phoenix

$460,710

3 Beds ⋅ 3 Baths ⋅ 7092906 MLS ⋅ ACTIVE Status ⋅ 0.04 Acres ⋅ 85040 Zip Code ⋅ 1,713 SqFt.

Enjoy style and convenience at Urban at South Mountain, a gated community offering easy access to ASU, Sky Harbor Airport, I-10, shopping, dining, and entertainment. The thoughtfully designed Alpharetta plan combines low-maintenance living with modern finishes and flexible spaces. The kitchen showcases Frost White cabinetry, marble-look quartz countertops, stainless-steel appliances including the refrigerator, and a generous island with designer pendant lighting. Upstairs, a versatile loft provides room for a home office, media lounge, or creative retreat. Two secondary bedrooms offer comfortable accommodations, while the private primary suite features dual vanities, a walk-in shower, and a spacious walk-in closet. Discover a home that blends convenience with comfort. ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long-term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. Ask for more information!

5832 S 35th Way, Phoenix

$230,000

3 Beds ⋅ 2 Baths ⋅ 7092530 MLS ⋅ ACTIVE Status ⋅ 0.16 Acres ⋅ 85040 Zip Code ⋅ 1,030 SqFt.

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 ⋅ 924 SqFt.

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

$379,900

3 Beds ⋅ 2 Baths ⋅ 7092096 MLS ⋅ ACTIVE Status ⋅ 0.13 Acres ⋅ 85040 Zip Code ⋅ 1,831 SqFt.

Space, comfort, and possibility in South Phoenix! This single story, 3 bedroom, 2 bath home features vaulted ceilings and an open living area that creates an inviting setting for everyday living and entertaining. The eat in kitchen offers space to gather. Enjoy a spacious backyard with room to make your outdoor vision a reality, plus the convenience of a two car garage. Make this Phoenix home your own! Conveniently located near South Mountain, Downtown Phoenix, Sky Harbor Airport, freeway access, shopping, dining and outdoor recreation. Come see how much usable space this South Phoenix home has to offer.

5306 S 15th Street, Phoenix

$429,900

3 Beds ⋅ 3 Baths ⋅ 7090085 MLS ⋅ ACTIVE Status ⋅ 0.09 Acres ⋅ 85040 Zip Code ⋅ 1,941 SqFt.

Charming and beautifully updated two story home in Copper Leaf, offering a warm and inviting atmosphere with thoughtful improvements throughout. Step inside to pristine tile flooring, abundant natural light, and a neutral palette that creates a fresh, modern feel. The kitchen is bright and welcoming, featuring crisp white cabinetry, tiled backsplash, granite countertops, stainless steel appliances, and a center island. A NEW A/C UNIT and solar panels were both installed in 2025, and the solar is fully paid off, offering the potential for energy savings without a solar loan. The primary bedroom features a full bathroom with dual sinks and a practical walk-in closet. The loft has been thoughtfully converted into a fourth bedroom for added convenience and features a spacious closet system. Outside, enjoy great curb appeal, manicured landscaping, a two-car garage, and a backyard designed for easy enjoyment with a covered patio, artificial grass, and a gazebo perfect for gatherings and entertaining. With its beautiful updates, comfortable layout, and valuable improvements already in place, this inviting home is ready to welcome its next owner. Assumable loan available to a qualified buyer, subjet to lender approval and terms. Listing agent is related to the seller. Ring camaras and other security camaras do not convey with the property.

2340 E Wayland Drive, Phoenix

$428,500

3 Beds ⋅ 3 Baths ⋅ 7089732 MLS ⋅ ACTIVE Status ⋅ 0.04 Acres ⋅ 85040 Zip Code ⋅ 1,582 SqFt.

Enjoy contemporary townhome living in the gated Urban at South Mountain community, ideally positioned near ASU, Sky Harbor Airport, shopping, dining, and major commuter routes. The Orinda plan creates a welcoming setting with a spacious great room and dramatic 15-foot slider that opens to the backyard, bringing in natural light and extending the living space outdoors. The designer kitchen showcases Stone Grey cabinetry, Arctic White quartz countertops, GE Profile stainless-steel appliances, and a generous island with pendant lighting. Upstairs, a versatile loft adds room for a home office or media lounge, while two secondary bedrooms provide flexibility. The private primary suite offers dual vanities, a walk-in shower, and spacious walk-in closet. ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long-term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. Ask for more information!

5836 S 35th Way, Phoenix

$455,090

3 Beds ⋅ 3 Baths ⋅ 7089726 MLS ⋅ ACTIVE Status ⋅ 0.04 Acres ⋅ 85040 Zip Code ⋅ 1,713 SqFt.

Discover effortless urban living in the gated Urban at South Mountain community with the stylish Alpharetta plan. Designed for low-maintenance living, this home offers a convenient location near ASU, Sky Harbor Airport, I-10, shopping, dining, and entertainment. The inviting kitchen pairs Stone Grey cabinetry with Arctic White quartz countertops, stainless-steel appliances including the refrigerator, and a spacious island illuminated by designer pendant lighting. Upstairs, a versatile loft creates the perfect spot for a home office, media space, or creative studio. Two secondary bedrooms complement a private primary suite featuring dual vanities, a walk-in shower, and generous walk-in closet. Modern finishes and smartly designed spaces make everyday living feel easy and refined. ^^Up to 6% of Base Price can be applied towards closing cost and/or short-long-term interest rate buydowns when choosing our preferred Lender. Additional eligibility and limited time restrictions apply. Ask for more information!

5840 S 35th Way, Phoenix

$329,900

3 Beds ⋅ 2 Baths ⋅ 7089354 MLS ⋅ ACTIVE Status ⋅ 0.15 Acres ⋅ 85040 Zip Code ⋅ 1,128 SqFt.

Tenant-occupied investment opportunity near Tempe with an existing lease through 6/30/2027. Single-level home with an open great-room layout, wood-look flooring throughout much of the interior, white shaker-style kitchen cabinetry and decorative tile backsplash. Spacious private backyard offers grass, low-maintenance landscaping and a pergola-covered patio. A 2-car covered carport provides off-street parking. No HOA and easy access to I-10, Sky Harbor, ASU, Arizona Mills and Tempe Diablo Stadium. Skip the initial vacancy and tenant-placement process. Ideal for a buy-and-hold investor seeking rental income from day one and future flexibility at lease expiration.

4708 E La Salle Street, Phoenix

$199,000

3 Beds ⋅ 1 Baths ⋅ 7089018 MLS ⋅ ACTIVE Status ⋅ 0.02 Acres ⋅ 85040 Zip Code ⋅ 1,008 SqFt.

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

$450,000

3 Beds ⋅ 3 Baths ⋅ 7088935 MLS ⋅ ACTIVE Status ⋅ 0.08 Acres ⋅ 85040 Zip Code ⋅ 1,881 SqFt.

Light, Bright and Open with Vaulted Ceilings & Lots of Windows. Open, Eat-in, Island Kitchen with Breakfast Bar, Stainless Steel Appliances, Large Pantry & Refrigerator Included. Separate Living Room and Family Room with Decorative Shelving and Niches & Formal Dining Room. Huge Master with Double Door Entry, Bay Window & His & Hers Closets. Loft Area is a Perfect Den, Office or Upstairs Living Area. Newer Paint Throughout and 18 Inch Tile in the Downstairs All in Neutral Colors. Block Privacy Fence, Outdoor Patio and Very Low Maintenance Landscape. Two Car Garage, Upstairs Laundry, Gated Community in a Convenient Area! Low HOA Fee.

4106 E Chambers Street, Phoenix

Start Your Search

Copyright 2026 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

Information Is Believed To Be Accurate But Not Guaranteed. Some or all listings may or may not be listed by the office/agent presenting these featured properties. Copyright 2026 MTRMLS, Inc. RealTracs Solutions.

85040 Homes under $500,000

Newest 85040 Homes under $500,000

How much is your home worth?

How much is your home worth?