1204 E STEAMBOAT BEND Drive, Tempe, AZ 85283, Tempe, 85283 - 5 bed, 2 bath
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Tempe, AZ 85283
This Spacious Single-Family Residence in the premier The Lakes community represents a High-Potential Investment Opportunity with a List Price of $689,000—positioned well below the $710,088 Fair Market Value by 2%. This valuation gap offers $21,088 in Instant Equity for the incoming buyer. Featuring a Condition Rating of 3, the home boasts a renovated kitchen, wood-look flooring, and a private backyard patio. Located near top-rated schools like Fuller Elementary, this move-in-ready asset is ideal for Growing Families or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1204 E STEAMBOAT BEND Drive Subject | $689,000* List Price | 5 | 2 | 2,429 | $292 | - |
A 5802 S STANLEY Place Sold | $732,000 | 5 | 2 | 2,558 | $286 | 0.3 mi |
B 1916 E MAGDALENA Drive Sold | $655,000 List Price | 4 | 2 | 2,070 | 0.9 mi | |
C 1023 E Watson Dr Drive Sold | $575,000 | 4 | 2 | 2,134 | $269 | 0.5 mi |
D 1849 E WATSON Drive Sold | $540,000 | 4 | 2 | 1,971 | $274 | 0.7 mi |
E 5426 S LIGHTHOUSE Lane Pending | $697,500 List Price | 3 | 4 | 2,485 | $281 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and has been well-maintained with several visible updates. Although built in 1974, the interior features modern wood-look flooring, updated recessed lighting, and neutral paint throughout. The kitchen has been renovated with stainless steel appliances, a mosaic tile backsplash, and solid surface countertops. While some elements like the cabinetry and countertop color palette reflect older trends, the overall condition shows minimal wear and tear and no immediate need for major renovation.
Situated in the desirable 'The Lakes' subdivision, the property offers access to premium amenities including lakeside walking paths, tennis courts, and a fitness center, providing a high-end lifestyle experience.
With 5 bedrooms and over 2,400 square feet of living area, this residence provides a rare and versatile floor plan that accommodates large families or diverse home-office needs.
The home is ideally located within walking distance of several highly-rated schools, including Rover Elementary and Fees College Preparatory Middle School, adding significant value for families.
Built in 1974, the property may require updates to major mechanical systems or cosmetic renovations to meet the expectations of buyers seeking modern energy efficiency and contemporary finishes.
The $405 association fee represents a significant recurring carrying cost that buyers must factor into their monthly debt-to-income considerations compared to non-HOA properties.
This spacious residence offers a functional open layout with generous living areas, natural light, and plenty of room for both relaxing and entertaining. The home features well sized bedrooms, a versatile floor plan, and a private backyard perfect for enjoying Arizona living. Residents of The Lakes enjoy resort style amenities, including lakeside walking paths, tennis courts, a fitness center, and a vibrant community atmosphere. Conveniently located near shopping, dining, parks, and freeway access, this home offers the perfect combination of comfort, space, and lifestyle.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 1.1 mi
Grades 6-8 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 94% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 2,429 | 2,052 | 82% |
| Lot Size | 8,433 | 8,032 | 54% |
| Price | $689.0K | $360.0K | 88% |
| Price per sq ft | $284 | $254 | 61% |
| Built year | 1974 | 1978 | 39% |
| HOA | $405 | $0 | 99% |
| Days on market | 48 | 2104 | 1% |
Mar 5, 2026
$689,000
Initial Listing