122 S HARDY Drive 40, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 2 bath
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Tempe, AZ 85281
This Updated Tempe Condominium represents a High-Potential Investment Opportunity, with a List Price of $319,000 positioned well below the $448,634 Fair Market Value by 28%. This significant valuation gap provides $129,634 in Instant Equity. Boasting a Condition Rating of 3, the home features a New A/C, Roof, and Flooring, ensuring a move-in-ready experience near ASU and Tempe Town Lake. While local schools like Scales Technology Academy offer accessible education, the primary draw is the high rental demand. This is an elite acquisition for Buy-and-Hold Investors or Owner-Occupants seeking rapid wealth accumulation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 122 S HARDY Drive 40 Subject | $309,000* List Price | 2 | 2 | 1,120 | $276 | - |
A 1077 W 1ST Street 205 Sold | $227,000 | 2 | 2 | 779 | $291 | 0.1 mi |
B 1077 W 1ST Street 205 Sold | $227,000 | 2 | 2 | 779 | $291 | 0.1 mi |
C 525 W LAKESIDE Drive 140 Sold | $319,900 List Price | 2 | 2 | 1,493 | 0.4 mi | |
D 122 S HARDY Drive 54 Pending | $299,900 List Price | 2 | 2 | 1,120 | $268 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant recent capital improvements including a new roof, A/C system, flooring, and fresh interior paint. While the 1983 construction is evident in the kitchen cabinet style and older coil-top range, the overall maintenance is excellent, and the major systems are within their functional lifespan, meeting the criteria for a well-maintained, updated home.
Situated minutes from ASU, Tempe Town Lake, and Tempe Marketplace, this property offers exceptional convenience and high demand for both residents and tenants.
With a new A/C, roof, flooring, and interior paint, the property minimizes immediate capital expenditures and provides a move-in-ready experience.
The 2-bedroom, 2-bathroom configuration in a high-demand rental market makes this an ideal asset for investors looking for consistent occupancy and low maintenance.
The assigned middle and high schools carry lower performance ratings, which may limit the property's appeal to families with school-aged children.
Built in 1983, the property may face long-term maintenance challenges associated with older construction and common area infrastructure despite recent interior updates.
HIGH-DEMAND TEMPE LOCATION WITH STRONG RENTAL APPEAL! Charming impeccably maintained 2 bed, 2 bath condo at the end of a desirable tree-lined street--just minutes from ASU, Tempe Town Lake, Tempe Marketplace and Freeway access. Major updates already done: NEW A/C, NEW roof, NEW flooring, NEW interior paint, and NEW refrigerator--reducing future expenses and increasing value. Ideal for owner-occupants or investors looking for a low-maintenance property in a prime location with consistent demand.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades 6-8 • 0.7 mi
Grades 9-12 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,120 | 1,500.5 | 40% |
| Lot Size | 528 | 1,282.5 | 30% |
| Price | $309.0K | $0 | 90% |
| Price per sq ft | $276 | $0 | 70% |
| Built year | 1983 | 2004 | 40% |
| HOA | $255 | $373 | 30% |
| Days on market | 78 | 2696 | 10% |
May 20, 2026
$309,000
$319,000
-3% Price Drop
Initial Listing
Mar 20, 2026
$319,000
Initial Listing