1027 W GRAND CAYMEN Drive, Gilbert, AZ 85233, Gilbert, 85233 - 4 bed, 3 bath
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Gilbert, AZ 85233
This Spacious Waterfront Home represents a High-Potential Investment Opportunity, listed at $900,000—positioned well above the $794,105 Fair Market Value by 13%. While the property requires a premium, its location in the sought-after The Islands community and the inclusion of a Private Pool provide significant lifestyle value. With a Fair Condition Rating and original 1993 finishes, the home offers a clear path for cosmetic modernization to drive future appreciation. This is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking a customizable lakeside residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1027 W GRAND CAYMEN Drive Subject | $900,000* List Price | 4 | 3 | 2,757 | $288 | - |
A 920 W GRAND CAYMEN Drive Sold | $716,500 | 5 | 3 | 2,597 | $276 | 0.1 mi |
B 1224 W SHERRI Drive Sold | $760,000 List Price | 4 | 3 | 2,856 | 0.4 mi | |
C 510 S LAGOON Drive Active | $975,000 List Price | 4 | 3 | 2,493 | $391 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1993, the property is 31 years old, placing it in the 'Fair' category based on age. While the home appears well-maintained and move-in ready with some updates like granite bathroom countertops, the overall aesthetic—including the oak cabinetry, architectural columns, and tile flooring—is dated and reflects the original construction era.
Situated in the highly sought-after 'The Islands' neighborhood, this property offers a unique lakeside lifestyle with close proximity to Downtown Gilbert's vibrant dining and shopping scene.
The home features a private swimming pool and a low-maintenance backyard, providing an ideal space for relaxation and entertainment in the Arizona climate.
With 2,757 square feet of living space, including a large kitchen with an island and a generous primary suite, the layout is well-designed for both daily comfort and hosting guests.
Despite being near several schools, the current GreatSchools ratings (ranging from 4 to 6) may be a concern for families prioritizing top-tier academic performance.
Built in 1993, the property may require cosmetic updates or modern upgrades to align with contemporary luxury standards expected at the $900,000 price point.
Welcome to 1027 W Grand Caymen Dr, tucked inside Gilbert's sought-after waterfront community, The Islands. This 4 bed, 2.5-bath home offers 2,757 sqft of bright, functional living space designed for everyday comfort and easy entertaining. Ample kitchen size with Island. Spacious primary suite. Low-maintenance backyard with Private pool. Minutes from Downtown Gilbert's dining and shops, top-rated schools, and quick freeway access. A rare chance to own in one of the East Valley's most unique lakeside neighborhoods.
No exterior & parking available.
Grades PK-6 • 0.5 mi
Grades PK-6 • 1.0 mi
Grades 6-8 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,757 | - |
| Lot Size | 8,472 | - |
| Price | $900.0K | $554.5K |
| Price per sq ft | $326 | $287 |
| Built year | 1993 | 0 |
| HOA | $401 | $0 |
| Days on market | 20 | 2717 |
Jul 2, 2026
$900,000
Initial Listing