
Tempe, AZ 85283
This Rare Waterfront Renovation Project is listed at $1,095,000, positioned above the $960,682 Fair Market Value due to its premium "Top of the Island" lot. Holding a Condition Rating of 4, the home requires modernization but offers significant upside through its Private Boat Dock and Panoramic Waterfront Views. With 3,621 sqft of potential and access to The Lakes Clubhouse amenities near Fuller Elementary and Marcos De Niza High, the property is a high-value asset. It is ideal for Luxury Renovators or Visionary Homeowners.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1017 E SANDPIPER Drive Subject | $1,095,000* List Price | 4 | 3 | 3,621 | $265 | - |
A 5445 S LIGHTHOUSE Lane Active | $1,050,000 List Price | 3 | 4 | 3,176 | $331 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1973, the property is well-maintained but significantly outdated. The kitchen features older oak-style cabinetry and white appliances, though it has been partially updated with granite countertops. The interior includes dated built-ins, older light fixtures, and 1970s slump block architecture. While livable and clean, the listing description explicitly states it is ready for 'fresh ideas,' confirming it requires modernization to meet current market standards.
Situated on a premium north-facing lot at the 'Top of The Island,' this property features a private boat dock and expansive water views, offering a rare lifestyle opportunity within The Lakes community.
With over 3,500 square feet of living space, this slump block home includes a rare walk-out basement and a massive covered deck, providing ample room for multi-generational living and indoor-outdoor entertaining.
Residents enjoy access to The Lakes Clubhouse, which features a heated Olympic-sized pool, spa, tennis and pickleball courts, and a fitness center, significantly enhancing the property's recreational value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3621, other record living area = 3485.
Built in 1973, the home is marketed as needing 'fresh ideas and a personal touch,' suggesting that substantial capital investment is required to modernize the interior and systems.
In addition to the million-dollar-plus price point, the property carries a $405 monthly association fee, which may impact the overall budget for buyers also facing extensive remodeling costs.
Custom Home on a Prime WATERFRONT lot at the Top of The Island in The Lakes is ready for your fresh, new ideas and personal touch. This solid, slump block constructed, two level home with a walk-out basement and Private Boat Dock features 4 bedrooms, 3 bathrooms, approximately 3,500sqft of livable space plus a huge covered deck, with Beautiful Views, that spans the length of the kitchen and family room for extended living. Enhancing the home's exterior, the basement garage maximizes the livable square footage and views of the north-facing lot while keeping your cars cool in the summer heat. The main level of this home includes a large living room and dining room with fireplace, kitchen and dining area, family room, primary suite, guest bedroom and bathroom and laundry. The lower level includes two bedrooms, one full bathroom, and much more room to entertain! Be sure to check out all of the amenities offered at The Lakes Clubhouse which include a heated junior olympic lap pool, heated spa, tennis/pickleball courts, cardio and fitness rooms and much more! You'll Love Living in The Lakes.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 1.4 mi
Grades 6-8 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 2.0 | 82% |
| Square foot | 3,621 | 2,052 | 96% |
| Lot Size | 11,304 | 8,032 | 86% |
| Price | $1.09M | $360.0K | 95% |
| Price per sq ft | $302 | $254 | 73% |
| Built year | 1973 | 1978 | 29% |
| HOA | $405 | $0 | 99% |
| Days on market | 21 | 2104 | 1% |
Apr 1, 2026
$1,095,000
Initial Listing