2302 E Yale Street, Phoenix, AZ 85006

$425,000

Property Type: Multiple Dwellings Status: UCB (Under Contract-Backups)

Current Price: $425,000 List Date: 1/21/2026 Last Modified: 5/20/2026

Overview

Description

A property that offers more than just a place to live, it creates tremendous opportunity from the start. Set in a highly accessible central Phoenix location, this home features multiple living spaces designed for flexibility and long-term value. The main residence offers 3 bedrooms, 2 bathrooms and ~1,360 sq ft, plus a separate studio around 320 sq ft. An attached casita in the backyard features 1 bed/1 bath with ~ 600 sq ft. Estimated rents are $2,200 per month for the main house, $1,000 for the casita, and $700 for the studio, producing a strong nearly 1% rent to price ratio. Main house is currently leased through August 2026, studio and casita are currently vacant. Great location minutes from Phoenix Children's Hospital, downtown Phoenix, Sky Harbor Airport, and freeway access.

Listing Details MLS# 6962050

Location, Tax & Legal

House Number: 2302
Compass: E
Street Name: Yale
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 1535
Country: US
County Code: Maricopa
Subdivision: Greenfield Gardens Blocks 1 thru 5
Assessor Number: 117-08-131
Tax Year: 2025
Assessor's Map #: 8
Legal Description (Abbrev): GREENFIELD GARDENS
Assessor's Parcel #: 131
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 111601
Taxes: 2029
Legal: Greenfield Gardens
Marketing Name: Greenfield Gardens

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 7,410
Year Built: 1941
Total # of Units: 3
# of Buildings: 2
Zoning: R1-6
Flood Zone: No
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: William T Machan Elementary School
Jr. High School: William T Machan Elementary School
High School: Camelback High School
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: 24th St and Thomas
Directions: From 24th St turn west on Yale St to the property.

Legal Info

Township: 2N
Range: 3E
Section: 34
Lot Number: 22

Income Expenses

Gross Annual Sch Inc: 3900
Net Operating Income: 3705

More Information

Showing Notification Methods

Showing Service: Aligned Showings

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 700
Avg SqFt: 320
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1000
Avg SqFt: 600
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 2200
Avg SqFt: 1360
# Baths: 2

Project Type

Other (See Remarks): Yes

Other Type

House + Rental Units: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Stucco: Yes

Roofing

Composition: Yes

Floors

Tile: Yes

Sale Includes

Other (See Remarks): Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2029
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 3705

Pmt & Rate Info

Cap Rate: 0.87
Equity: 425000
Down Payment %: 20
Monthly Payments: 2500
Total Owed: 0

Lockbox Type

Supra: Yes

Community Features

See Remarks: Yes

Heating

Natural Gas: Yes
Window/Wall Unit(s): Yes

Cooling

Central Air: Yes
Window/Wall Unit: Yes

Tenant Pays

Cable TV: Yes

Appliances Included

Dishwasher: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Concrete: Yes

Source of Fincl Data

Owner: Yes

Road Responsibility

City Maintained Road: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
On Street: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes

New Financing

Cash: Yes
VA: Yes
Conventional: Yes
FHA: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

2 Bedroom Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Other (See Remarks) Other Type: House + Rental Units Construction: Block; Wood Frame Const - Finish: Stucco Roofing: Composition Floors: Tile Sale Includes: Other (See Remarks) Community Features: See Remarks Appliances Included: Built-In Range; Refrigerator; Dishwasher; Washer/Dryer Heating: Natural Gas; Window/Wall Unit(s) Cooling: Window/Wall Unit; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport; On Street Road Surface Type: Concrete Road Responsibility: City Maintained Road Owner Pays: Water; Electric; Gas; Trash Collection Tenant Pays: Cable TV Source of Fincl Data: Owner Lockbox Type: Supra Existing 1st Loan: Treat as Free&Clear New Financing: Cash; VA; FHA; Conventional; 1031 Exchange Environmental: None

Listing Office: Keller Williams Arizona Realty

Last Updated: May - 20 - 2026