1081 W 1ST Street 10, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 3 bath
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Tempe, AZ 85281
This three-story townhouse represents a High-Potential Investment Opportunity, listed at a List Price of $449,890—positioned well below the $464,936 Fair Market Value by 3%. This valuation gap provides $15,046 in Instant Equity. Featuring a rare 3.5-car garage and a private master balcony, the property maintains a Fair Condition Rating with room for cosmetic modernization. While the HOA fees are notable, the prime location near ASU drives strong rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking urban convenience.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1081 W 1ST Street 10 Subject | $449,890* List Price | 3 | 3 | 1,647 | $282 | - |
A 510 W University Drive 208 Active | $329,900 List Price | 3 | 2 | 1,081 | $305 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 2002, the property is approximately 24 years old. While the description mentions updates, the kitchen retains dated tile countertops and older black appliances (excluding the fridge). The overall aesthetic is functional and move-in ready, but the age of the systems and the dated finishes in the kitchen and bathrooms align with the 'Fair' criteria for properties over 20 years old needing modernization.
Situated within walking distance to Arizona State University and popular Tempe entertainment districts, offering high appeal for students, faculty, and urban professionals.
The property features a rare 3.5-car garage, providing extraordinary storage and parking space that is highly uncommon for high-density townhouse developments.
This three-story residence boasts updated contemporary finishes and a functional floor plan, including a private master suite balcony and the security of a gated community.
The monthly HOA fee of $524 is significant for this price point, which increases the total cost of ownership and may impact buyer affordability.
The assigned middle and high schools carry low performance ratings (3/10), which may deter families prioritizing public education quality.
Wow! GORGEOUS 3-bed, 2.5-bath 3.5-car garage, 3 Story Townhouse Tempe AZ! Luxury and Location! Walking Distance to All the Tempe Hot Spots and the University. One Bedroom Master Suite with Private Balcony. 2 Bedrooms Jack&Jill Pass through Bathroom. Gorgeous Updated Black Tan and White interior shades. Stackable Interior Laundry. Gated Grounds.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.5 | 50% |
| Baths | 3.0 | 2.5 | 50% |
| Square foot | 1,647 | 1,272 | 75% |
| Lot Size | 2,672 | 1,965 | 63% |
| Price | $449.9K | $67.5K | 88% |
| Price per sq ft | $273 | $78 | 75% |
| Built year | 2002 | 1993 | 63% |
| HOA | $524 | $196 | 88% |
| Days on market | 20 | 2627 | 13% |
May 17, 2026
$449,890
Initial Listing