1221 E STEAMBOAT BEND Drive, Tempe, AZ 85283, Tempe, 85283 - 4 bed, 3 bath
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Tempe, AZ 85283
This Single Family Residence is a High-Potential Investment Opportunity, listed at $749,900—positioned well above the $656,964 Fair Market Value by 14%. While priced above market, the property features a Good Condition Rating with a 2026 guest bath remodel, custom cabinetry, and granite countertops. Residents enjoy access to the Lakes Beach & Tennis Club amenities. Given the premium location in The Lakes of Tempe, this home is an ideal acquisition for Owner-Occupants seeking a lifestyle-focused community or Buy-and-Hold Investors targeting long-term appreciation in a premier lake community.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1221 E STEAMBOAT BEND Drive Subject | $749,900* List Price | 4 | 3 | 2,052 | $319 | - |
A 1823 E CORNELL Drive Sold | $724,999 | 4 | 2 | 2,360 | $307 | 0.5 mi |
B 1849 E WATSON Drive Sold | $540,000 | 4 | 2 | 1,971 | $274 | 0.6 mi |
C 1916 E MAGDALENA Drive Sold | $655,000 List Price | 4 | 2 | 2,070 | 0.8 mi | |
D 5802 S STANLEY Place Sold | $732,000 | 5 | 2 | 2,558 | $286 | 0.3 mi |
E 1532 E WESTWIND Way Sold | $570,000 | 3 | 2 | 1,612 | $354 | 0.3 mi |
F 1532 E WESTWIND Way Sold | $570,000 | 3 | 2 | 1,612 | $354 | 0.3 mi |
G 1003 E WATSON Drive Pending | $689,000 List Price | 4 | 2 | 2,134 | $323 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the structure dates to 1975, the home is well-maintained and move-in ready. It features a 2026 remodeled guest bath, updated secondary bathrooms, and a kitchen with custom cabinetry and granite countertops. The interior finishes and systems appear to be within the 5-15 year renovation window, qualifying it for a Good rating.
Situated in the highly sought-after Lakes of Tempe, the property offers walking distance access to the Beach & Tennis Club, featuring a heated lap pool, fitness center, and courts for tennis, pickleball, and racquetball.
The home boasts unique soaring tongue-and-groove vaulted wood ceilings and significant recent improvements, including a 2026 guest bath remodel and an updated kitchen with custom cabinetry and granite countertops.
The layout includes two bedrooms with private en-suite bathrooms, providing rare flexibility and privacy for multi-generational living or hosting guests.
Built in 1975, the residence may require ongoing maintenance or future capital expenditures for aging infrastructure and systems not covered by recent cosmetic updates.
While conveniently located near several schools, the assigned middle and high schools carry modest ratings (4 and 5 respectively), which may impact appeal for education-focused families.
Gorgeous custom home in The Coves at The Lakes of Tempe! This 4-bedroom, 3-bath residence features soaring tongue-and-groove vaulted wood ceilings, abundant natural light & cozy fireplace. Updated kitchen offers custom cabinetry, granite countertops, and views of the lush backyard. Recent improvements include a newly remodeled guest bath (2026) & updated secondary bathrooms. Two bedrooms feature private en-suite baths, providing flexibility for family and guests. Enjoy mature citrus trees, a covered patio, and cooling natural grass in the beautifully landscaped backyard. Walk to the Lakes Beach & Tennis Club w/heated lap pool, spa, tennis, pickleball & racquetball courts, fitness center, game rooms, and private shaded playground. Exceptional living in Tempe's premier lake community!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 1.0 mi
Grades 6-8 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,052 | - |
| Lot Size | 8,102 | - |
| Price | $749.9K | $562.2K |
| Price per sq ft | $365 | $326 |
| Built year | 1975 | 0 |
| HOA | $405 | $0 |
| Days on market | 48 | 2615 |
Jun 4, 2026
$749,900
Initial Listing