1245 W 1ST Street 116, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 3 bath
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Tempe, AZ 85281
This High-Potential Investment Opportunity is listed at a List Price of $280,000, aligning closely with the $279,982 Fair Market Value. Featuring a Fair Condition Rating with updated flooring, this 2-bedroom townhome offers immediate rental appeal due to its proximity to Arizona State University. The property includes a private front patio and balcony, providing rare outdoor space in this high-demand corridor. With existing rental income in place, this asset is a stable choice for Buy-and-Hold Investors or first-time buyers seeking a turnkey, income-generating property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1245 W 1ST Street 116 Subject | $280,000* List Price | 2 | 3 | 1,072 | $261 | - |
A 1245 W 1ST Street 125 Active | $308,000 List Price | 2 | 2 | 984 | $313 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1985 (39 years old), the property falls into the 'Fair' category due to its age exceeding 20 years without a full-scale renovation. While the 'newer flooring' and clean interior provide a move-in ready feel, the kitchen and bathrooms appear to retain older layouts and finishes, and the primary systems are likely dated.
Located just minutes from Arizona State University, this property is situated in a high-demand corridor that ensures consistent rental appeal and strong long-term value retention.
The rare combination of both a private front patio and an upstairs balcony off the bedrooms provides significant outdoor space, a premium feature for a townhome of this size.
Currently tenant-occupied with rental income already in place and featuring updated flooring, this property offers a turn-key opportunity for investors seeking immediate cash flow.
Built in 1985, the property may require upcoming capital investments for major systems or exterior maintenance typical of a development approaching four decades of age.
With the local middle and high schools carrying lower ratings (3/10), the property may have limited appeal for families specifically prioritizing top-tier public education districts.
Just minutes from Arizona State University, this 2-story townhome condo offers the perfect combination of location and lifestyle. Newer flooring throughout gives the space a clean, updated feel, and the two-level layout provides great separation of space. Step outside to a private front patio or head upstairs to the private balcony off the bedrooms -- outdoor space that truly sets this unit apart. Currently tenant-occupied with rental income in place, this property works equally well as an investment, a first home, or a future owner-occupant opportunity. Strong demand in this corridor means it holds its value year after year.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.5 | 50% |
| Square foot | 1,072 | 1,151 | 50% |
| Lot Size | 54 | 1,373 | 13% |
| Price | $280.0K | $67.5K | 75% |
| Price per sq ft | $261 | $78 | 75% |
| Built year | 1985 | 1986 | 50% |
| HOA | $224 | $196 | 63% |
| Days on market | 11 | 2634 | 13% |
Jun 2, 2026
$280,000
Initial Listing