1031 W 12TH Place, Tempe, AZ 85281, Tempe, 85281 - 4 bed, 2 bath
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Tempe, AZ 85281
This Turnkey Investment Asset is a Strong Value Opportunity, listed at $515,000—positioned well below the $515,175 Fair Market Value by 0.03%. Featuring a Condition Rating of 3, this fully furnished home offers immediate usability with modern updates like concrete flooring and a renovated kitchen. Its prime location near ASU and lack of HOA fees make it a high-demand rental. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a low-maintenance, income-producing residence in Tempe.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1031 W 12TH Place Subject | $515,000* List Price | 4 | 2 | 1,720 | $300 | - |
A 901 W 16TH Street Sold | $425,600 | 3 | 2 | 1,480 | $288 | 0.2 mi |
B 1245 W 11TH Street Sold | $480,000 | 4 | 2 | 1,503 | $319 | 0.3 mi |
C 538 W 16TH Street Sold | $500,000 | 3 | 2 | 1,612 | $310 | 0.4 mi |
D 1100 W 9TH Street Sold | $539,000 List Price | 3 | 2 | 1,588 | 0.4 mi | |
E 1812 S SHAFER Drive Sold | $456,000 | 3 | 2 | 1,274 | $358 | 0.5 mi |
F 504 W 17th Place Active | $459,000 List Price | 4 | 2 | 1,725 | $266 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although the structure dates to 1963, the property has undergone significant renovations likely within the last 5-15 years. The kitchen is modernized with white shaker cabinets, stone countertops, and stainless steel appliances. The interior features updated recessed lighting and low-maintenance concrete flooring, making it move-in ready and well-maintained for its age.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7549, living area = 1720.
Situated just one mile from Arizona State University and minutes from Downtown Tempe and Sky Harbor Airport, the property offers exceptional convenience for students, faculty, and commuters.
The home is sold fully furnished and move-in ready with a proven track record as both a vacation and long-term rental, providing immediate income-producing potential for investors.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1720, other record living area = 1618.
The assigned elementary, middle, and high schools all currently hold a rating of 3, which may be a deterrent for families prioritizing high-performing educational districts.
Built in 1963, the property may require more frequent maintenance or future updates to aging infrastructure and systems compared to newer builds in the area.
Opportunity meets convenience in this fully furnished 4 bedroom, 2 bath home just one mile from ASU. Whether you're looking for a primary residence, a home for your college student, or an income-producing investment, property offers immediate usability from day one. Previously successful as both a vacation rental & long-term rental, it's move-in ready with tasteful updates, low-maintenance concrete flooring & an open layout designed for comfortable everyday living & entertaining. Enjoy grassy front & back yards, a fenced backyard with room to gather & a prime location within walking distance of neighborhood schools and Mitchell Park with its dog park, playground, & fields. Minutes from Downtown Tempe, Sky Harbor Airport, dining, shopping & entertainment.
No exterior & parking available.
Grades PK-5 • 0.5 mi
Grades 6-8 • 0.2 mi
Grades 9-12 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,720 | - |
| Lot Size | 7,549 | - |
| Price | $515.0K | $562.2K |
| Price per sq ft | $299 | $326 |
| Built year | 1963 | 0 |
| HOA | $0 | $0 |
| Days on market | 21 | 2615 |
Jul 1, 2026
$515,000
Initial Listing