
Tempe, AZ 85283
Analysis of 1124 E DRIFTWOOD Drive, Tempe, AZ 85283 is currently available with a list price of $759,999. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Tempe Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
The property is in move-in ready condition with significant recent capital improvements, including a 2023 Trane A/C unit, a 2025 water heater, and newer roofing. The kitchen and bathrooms have been updated with high-end appliances, travertine countertops, and modern walk-in shower tiling. While the original structure dates to 1972, the extensive maintenance history, paid-off solar panels, and updated interior finishes exceed the standards for a 'fair' rating, though the specific styling of the cabinetry and flooring prevents an 'excellent' classification.
This rare patio home sits directly at the water's edge with a private dock, offering immediate access for boating and fishing in one of Tempe's most unique private lake communities.
The property is exceptionally well-maintained with paid-off solar panels, a 2023 Trane A/C unit, a 2025 water heater, and windows/doors with lifetime warranties, significantly reducing future ownership costs.
Residents benefit from a robust community clubhouse featuring an Olympic-size heated pool, fitness center, and courts for tennis, pickleball, and basketball, fostering an active and social lifestyle.
Built in 1972, the home may present challenges inherent to older construction, such as dated plumbing or electrical configurations, despite the extensive surface and mechanical updates.
With a list price of nearly $760,000 for 1,565 square feet, the property represents a significant premium that may deter buyers looking for more interior living space at this price point.
EXPERIENCE LAKEFRONT LIVING at The Lakes in Tempe! Here's you chance to own one of the unique patio homes that sit at the water's edge of this private lake community. . Enjoy taking your boat, canoe or kayak out for a relaxing ride, or fishing around the lake right from your own dock. This unique single level home has an open floor plan, offering seamless transitions from one space to another. The living area has a cathedral ceiling with 3 half-moon shaped celestial windows, a gas fireplace and a large patio door that leads to the 24' x 30' lakeside tiled patio. The large open kitchen has travertine slabs countertops, tons of cabinets for storage & high end appliances. Opposite the dining area is the indoor/outdoor atrium which is also accessible from the 3rd bedroom. The primary bedroom faces the lake, giving you relaxing views of the water and direct access to the lakeside patio. The primary bathroom has a walk in shower, double vanities, walk in closet and plenty of room for a king size bed and more. The second & third bedrooms are at opposite end of the home and the second bathroom has a tub & shower combination. The lakeside patio's, one large upper & smaller lower patio, are great for entertaining. Enjoy barbecuing on upper patio equipped with a BBQ island, complete with a propane grill, propane burner, and refrigerator. Sit around the fire pit on the lower deck, where you can also try your luck fishing (catch & release only). It's a great place for relaxing with friends or watching the beautiful desert sunsets. The home has paid for solar panels, full house water softener, 2023 Trane 4 ton, 2 stage A/C unit (with a warranty), doors & windows (with lifetime warranty), Newer roofing, 2025 50-gal Bradford White gas water heater with recirculating pump (with warranty), RO for drinking water. All previous mentioned items have ongoing maintained contracts & have been serviced accordingly. Other updates that have been done to the home include bathrooms, kitchen and back patio's. The Lakes community features scenic walking and biking paths, lush greenbelts & private parks that are scattered throughout the community, as well as resort style amenities at the private community clubhouse, including a fitness center, Olympic size heated pool, jacuzzi, tennis, handball, pickleball courts, basketball courts, sand volleyball and children's playground. The community hosts a variety of social activities for all age groups, including the annual Christmas boat parade, Easter Egg hunt, Polar Plunge, and much more. Enjoy the perfect blend of tranquility and convenience, with top-rated schools, easy freeway access minutes from the property, while shopping, library, restaurant's, theatre, public golfing, Kiwanis Park are all within a mile of the home. These properties don't come on the market often. Bring your offers...Don't miss your chance to own a truly special property in one of Tempe's most desirable neighborhoods!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 1.2 mi
Grades 6-8 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 69% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,565 | 1,565 | 50% |
| Lot Size | 4,604 | 3,254 | 85% |
| Price | $760.0K | $223.5K | 92% |
| Price per sq ft | $486 | $226 | 92% |
| Built year | 1972 | 1986 | 8% |
| HOA | $386 | $199 | 85% |
| Days on market | 225 | 807 | 31% |
Sep 9, 2025
$759,999
Initial Listing