
Tempe, AZ 85283
This Custom Waterfront Home is a Strong Value Opportunity, listed at $1,275,000—positioned above the $1,199,007 Fair Market Value. While priced slightly above market, the property features a Condition Rating of 3, showcasing a comprehensive redesign with a Gourmet Kitchen and Private Boat Dock. The home offers a premium lakeside lifestyle on The Island, complemented by proximity to local schools like Rover Elementary. This turnkey residence is an ideal acquisition for Luxury Homebuyers or Owner-Occupants seeking a move-in ready retreat with panoramic water views.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1053 E SANDPIPER Drive Subject 4 bd · 5 ba · 2,817 sqft · $360 | $1,249,000* List Price | 4 | 5 | 2,817 | $360 | - |
A 5419 S Compass Road Active 4 bd · 3 ba · 2,382 sqft · $420 · 0.1 mi | $1,000,000 List Price | 4 | 3 | 2,382 | $420 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Originally built in 1978, this home has been completely reimagined and expanded. The high-end gourmet kitchen featuring Sub-Zero appliances, granite countertops, and custom cabinetry, along with the updated primary suite and solid wood flooring, indicates a comprehensive renovation. While the aesthetic style suggests the renovation occurred within the 5-15 year range rather than the last 5 years, the property is exceptionally well-maintained and move-in ready.
Situated on 'The Island,' this custom home features a private boat dock and panoramic lake views, offering a rare and tranquil lakeside living experience in Tempe.
The kitchen is a chef's dream, equipped with premium Sub-Zero appliances, custom cabinetry, granite countertops, and a unique copper-top breakfast bar.
The primary retreat offers a spa-like experience with a custom steam shower, jacuzzi tub, and a private walk-out balcony overlooking the water.
Originally built in 1978, the home may have underlying older infrastructure or systems despite the extensive aesthetic and functional redesign.
The assigned middle and high schools carry average ratings (4 and 5 respectively), which may be a consideration for families prioritizing top-tier educational districts.
Custom Waterfront Home on The Island was completely reimagined, redesigned, and expanded to take full advantage of the panoramic views and AZ sunsets. This Peaceful, Lakeside Retreat has 4 bedrooms, 4.5 bathrooms, Gourmet Kitchen with custom cabinets and pull-outs, gas cooktop, wall oven, warming drawer, Sub-Zero refrigerator/freezer, granite counters and a copper top breakfast bar! Water-View Primary Suite features a jacuzzi tub, custom steam shower system and walk-out balcony. Other Special Features include a walk-out lower-level guest suite/office, bedroom #2 is a mini suite with all-in-one wet bathroom, bedroom #3 has rolling bookcase closet doors, custom windows and doors, solid wood floors, extensive interior, and exterior lighting, Private Boat Dock and So Much More! Check out all The Lakes amenities at the clubhouse. You'll Love Living at The Lakes!
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 1.4 mi
Grades 6-8 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.3 |
| Baths | 5.0 | 2.0 |
| Square foot | 2,817 | 1,805.798 |
| Lot Size | 9,757 | 8,241.322 |
| Price | $1.25M | $528.2K |
| Price per sq ft | $443 | $306 |
| Built year | 1978 | 1973 |
| HOA | $405 | $297 |
| Days on market | 58 | 66 |
Oct 17, 2026
$1,249,000
$1,275,000
-2% Price Drop
Initial Listing
Aug 27, 2026
$1,275,000
Initial Listing