0.27 miRenovated
MLS Sold$1.56M
$319/sf
8660 Magnolia St, Phoenix AZ
- 11 bd · 4 ba
- 4,880 sqft · built 1950
- Sold 82d ago · 159d on market
Subject is 808 sqft larger
Selected because all three are renovated, match the multi-family layout (2-unit profile), and lack distinguishing premium features (no pool, no garage upgrades), keeping them tight to the subject. All three closed within the last 4 months and within 0.27mi of the subject.
Max allowable offer
$628,400
65% of ARV − repairs − fee
Open negotiation around $590,700
After repair value
$1,796,000
Est. repairs
$529,000
Sale to buyer
$638,400
Leod suggests 65% MAO for this submarket
Based on submarket trends — recent sub-MAO buyer activity and a stable for-sale regime in this ZIP support a 65% rule.
Inputs
Max allowable offer (% of ARV)
The 3 strongest comps Leod selected to value this property.
$1.56M
$319/sf
8660 Magnolia St, Phoenix AZ
Subject is 808 sqft larger
$1.93M
$418/sf
8746 Ocean Ave, Phoenix AZ
Subject is 1,068 sqft larger
$1.61M
$346/sf
6077 Maple Ave, Phoenix AZ
Subject is 1,038 sqft larger
Standard adjustments applied for differences between each comp and the subject.
ARV rolled up from the 3 selected comparables, with adjustments applied.
Estimated ARV range
$1,641,000 – $2,043,000
Avg square feet
4,717 sqft
Subject 5,688 sqft
Price per sqft
$381/sf
Weighted across comps
Avg bedrooms
11.7
Subject 13
Avg bathrooms
4
Subject 5
Avg lot size
0.19 ac
Subject 0.30 ac
Avg year built
1962
Subject 1968
Avg distance
0.2 mi
From subject
Avg months sold
3 mo
Recency-weighted
Notes