Versatile Payson Property with Studio with potential to be used many ways, NO HOA & .27 Acre Lot. Rare opportunity to own a flexible property featuring a 2 bedroom, 1 bath main home (1,080 sq ft) plus a 400 sq ft studio space currently setup for extra living, has a full bath and kitchen area -- possible rental income, home office, or small business use. Main home was updated in the 80's. The main residence offers comfortable living space with room for a dedicated office or bonus area, making it ideal for remote work or hobby space. The detached studio provides excellent privacy and income potential with its own kitchen and full bathroom, offering a buyer options. Situated on a .27 acre, 100% flat and usable lot, this property features a large fenced yard, abundant parking, and low-maintenance zero-scaped landscaping that is beautifully manicured and easy to care for. Located with convenient access to parks, grocery stores, restaurants, and local amenities, this property combines flexibility, functionality, and investment potential -- all with NO HOA restrictions.
Closed
Zestimate®
$348,000
518 N Colcord Rd, Payson, AZ 85541
3beds
1,480sqft
Single Family Residence
Built in 1970
0.27 Acres Lot
$348,000 Zestimate®
$235/sqft
$2,165 Estimated rent
Home value
$348,000
$331,000 - $365,000
$2,165/mo
Zestimate® history
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$1,990/mo
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List your homeWhat's special
Zillow last checked: 7 hours ago
Listing updated: April 08, 2026 at 11:39am
Listed by:
Don 'Junior' Queen 928-592-3771,
Real Broker
Source: CAAR,MLS#: 93450
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Electric, Propane
Cooling
- Evaporative Cooling, Ceiling Fan(s)
Appliances
- Included: Dryer, Washer
- Laundry: Other, Laundry Room
Features
- Breakfast Bar, Master Main Floor
- Flooring: Carpet, Wood, Linoleum
- Windows: Double Pane Windows
- Has basement: No
- Has fireplace: Yes
- Fireplace features: Living Room, Gas, Wood Burning Stove
Interior area
- Total structure area: 1,480
- Total interior livable area: 1,480 sqft
Property
Parking
- Total spaces: 1
- Parking features: Carport, No Garage, RV Gated
- Carport spaces: 1
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered, Patio
- Fencing: Chain Link
Lot
- Size: 0.27 Acres
- Dimensions: 70 x 55.44 x 70 x 55.44
- Features: Landscaped
Details
- Additional structures: Workshop, Guest House
- Parcel number: 30264139
- Zoning: RES
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Two Story,Cottage
- Property subtype: Single Family Residence
Materials
- Wood Frame, Wood Siding
- Roof: Asphalt,Metal
Condition
- Year built: 1970
Utilities & green energy
- Water: In Payson City Limits
Community & neighborhood
Security
- Security features: Smoke Detector(s)
Location
- Region: Payson
- Subdivision: Payson North U1
HOA & financial
HOA
- Association name: None
Other
Other facts
- Listing terms: Cash,Conventional,FHA,VA Loan
- Road surface type: Asphalt
Price history
| Date | Event | Price |
|---|---|---|
| 4/8/2026 | Sold | $348,000$235/sqft |
Source:  CAAR #93450 Report a problem | ||
| 3/3/2026 | Pending sale | $348,000$235/sqft |
Source: CAAR #93450 Report a problem | ||
| 2/27/2026 | Price change | $348,000-3%$235/sqft |
Source: CAAR #93450 Report a problem | ||
| 2/18/2026 | Listed for sale | $358,900+372.2%$243/sqft |
Source: CAAR #93450 Report a problem | ||
| 10/30/2000 | Sold | $76,000-38.7%$51/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,389 +3.6% | $21,932 +2.6% |
| 2024 | $1,341 +3.4% | $21,373 |
| 2023 | $1,296 +6.3% | -- |
Find assessor info on the county website
Neighborhood: 85541
Nearby schools
GreatSchools rating
- NAPayson Elementary SchoolGrades: K-2Distance: 1.1 mi
- 5/10Rim Country Middle SchoolGrades: 6-8Distance: 0.8 mi
- 4/10Payson High SchoolGrades: 9-12Distance: 0.8 mi
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- Arizona
- Gila County
- Payson
- 85541
- 518 N Colcord Rd