111 E BONITA Way, Tempe, AZ 85281, Tempe, 85281 - 4 bed, 2 bath
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Tempe, AZ 85281
This Updated ASU-Adjacent Residence is a Strategic Value Purchase listed at $725,000—positioned below the $734,282 Fair Market Value by 1%. This valuation provides $9,282 in Instant Equity. Boasting a Move-in Ready Condition Rating, the home features brand-new flooring and fresh paint on an expansive 0.26-acre lot with a detached garage. Located steps from Arizona State University and Broadmor Elementary, the property offers high rental demand and long-term stability. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-demand urban asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 111 E BONITA Way Subject | $700,000* List Price | 4 | 2 | 1,572 | $452 | - |
A 114 E 14TH Street Sold | $515,000 List Price | 4 | 2 | 1,471 | 0.4 mi | |
B 1426 S GRANDVIEW Drive Active | $849,677 List Price | 3 | 2 | 1,753 | $485 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1951, the home is move-in ready with recent cosmetic updates including brand-new flooring, fresh paint, and modern recessed lighting. The kitchen features updated countertops and painted cabinetry that appear functional and well-maintained, though the cabinet styles and window frames suggest the core renovation is likely within the 5-15 year range rather than a total modern gut-rehab.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11273, living area = 1572.
Situated just steps from Arizona State University, this property offers exceptional walkability to campus and local amenities, making it a high-demand location for students, faculty, and rental investors.
The rare 0.26-acre lot provides significant space for outdoor living, future home expansion, or the potential addition of an accessory dwelling unit (ADU) in a high-density urban area.
Originally built in 1951, the property may have aging core systems such as plumbing or electrical that could require maintenance despite the recent cosmetic updates.
While the elementary school is well-rated, the assigned high school has a lower rating (3/10), which may impact long-term resale value for families prioritizing public education.
Prime ASU Location! Walk to Campus from this Updated 4-Bed Gem. Location is everything! This beautifully updated 4-bedroom, 2-bathroom home is situated just steps from Arizona State University, offering unmatched walkability to campus, dining, and nightlife. Ideal for students, faculty, or investors seeking a high-demand rental near ASU. Step inside the 1,572 sq ft move-in ready interior featuring brand-new flooring and fresh paint throughout. The inviting layout is flooded with natural light. Outside, enjoy a rare, exceptionally large 0.26-acre lot providing endless possibilities for outdoor living or future expansion. The property also includes a highly desirable detached garage for secure parking or extra storage. Don't miss this turnkey home in Tempe.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 2.2 mi
Grades 9-12 • 0.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 57% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,572 | 1,550 | 57% |
| Lot Size | 11,273 | 6,765 | 91% |
| Price | $700.0K | $0 | 96% |
| Price per sq ft | $445 | $0 | 96% |
| Built year | 1951 | 1958 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 45 | 2174 | 4% |
May 10, 2026
$700,000
$725,000
-3% Price Drop
Initial Listing
Apr 22, 2026
$725,000
Initial Listing