1049 W VAUGHN Avenue, Gilbert, AZ 85233, Gilbert, 85233 - 3 bed, 2 bath
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Gilbert, AZ 85233
This Income-Generating Residential Asset is a High-Potential Investment Opportunity, listed at $524,900—positioned well below the $615,483 Fair Market Value by 14%. This valuation gap provides $90,583 in Instant Equity. Currently tenant-occupied until late 2026 at $2,299/month, the property offers immediate cash flow in a prime location near Downtown Gilbert. Featuring a Condition Rating of 4 with a versatile 3-bedroom plus den layout and a covered patio, it balances stability with long-term appreciation. This is an optimal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking a turnkey, low-vacancy addition.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1049 W VAUGHN Avenue Subject | $524,900* List Price | 3 | 2 | 1,868 | $329 | - |
A 638 W Sierra Madre Avenue Sold | $540,000 | 3 | 2 | 2,058 | $262 | 0.6 mi |
B 568 W RAWHIDE Avenue Sold | $554,900 List Price | 3 | 2 | 1,616 | 0.9 mi | |
C 1042 W BRUCE Avenue Sold | $669,990 | 4 | 3 | 2,118 | $316 | 0.2 mi |
D 702 W SCOTT Avenue Sold | $533,000 | 3 | 2 | 1,899 | $281 | 0.9 mi |
E 1391 W WINDHAVEN Avenue Sold | $640,000 | 3 | 2 | 2,004 | $319 | 0.5 mi |
F 1021 W HEARNE Way Pending | $525,000 List Price | 3 | 2 | 1,620 | $324 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained and move-in ready, but its 1998 construction and largely original features like oak cabinetry and tile place it in the fair category. While it has some updates such as flooring and a kitchen backsplash, it lacks the extensive recent renovation required for a higher score.
Situated near downtown Gilbert, the property offers excellent proximity to popular restaurants and shopping, ensuring long-term desirability and value retention.
The home features a split floor plan with three bedrooms plus a dedicated den/office, providing a functional layout that appeals to modern families and remote workers.
With a tenant already in place until late 2026, this property offers immediate, guaranteed rental income of $2,299 per month for the incoming investor.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
The 'Investors Only' requirement and long-term lease until 12/31/2026 exclude traditional owner-occupant buyers, significantly limiting the potential pool of purchasers.
The rental rate is locked in through 2026, which may prevent the owner from adjusting to market increases or achieving higher yields in a rising rental market.
INVESTORS ONLY - TENANT OCCUPIED UNTIL 12/31/2026 AT $2299/MO. LOCATION LOCATION LOCATION!! Close to downtown Gilbert restaurants and shopping. Split floor plan. 3-bedrooms PLUS a den/office. Upgraded flooring. Spacious great room and kitchen with upgraded tiled backsplash and tons of cabinet and counter space. Large master bedroom offers a master bath with separate tub/shower, double sinks and walk-in closet. The backyard offers a covered patio and mature shade trees.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 45% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,868 | 1,942 | 47% |
| Lot Size | 7,031 | 7,139 | 50% |
| Price | $524.9K | $443.0K | 64% |
| Price per sq ft | $281 | $230 | 72% |
| Built year | 1998 | 1994 | 86% |
| HOA | $268 | $102 | 87% |
| Days on market | 30 | 2291 | 1% |
Mar 23, 2026
$524,900
Initial Listing