1365 W 12TH Place, Tempe, AZ 85281, Tempe, 85281 - 5 bed, 4 bath
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Tempe, AZ 85281
This custom Mortensen home represents a Strong Value Opportunity, listed at $795,000—positioned well above the $749,909 Fair Market Value by -6%. Featuring a Condition Rating of 4, the property offers a solid foundation with 2x6 framing and dual Trane AC systems, though it requires cosmetic updates to modernize the 1990s-era finishes. Its rare basement and no HOA status provide significant flexibility. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-quality build in a prime Tempe location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1365 W 12TH Place Subject | $795,000* List Price | 5 | 4 | 3,105 | $242 | - |
A 410 W PARKWAY Boulevard Active | $635,000 List Price | 4 | 3 | 2,451 | $259 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1998 (26 years old), the property is well-maintained but features original finishes. The kitchen and laundry rooms are dated with 1990s-era oak cabinetry, white appliances, and laminate countertops. While systems like the dual Trane HVAC and tile roof are high quality, the interior requires cosmetic updates to meet modern standards.
This custom Mortensen home features high-end construction including 2x6 framing, sound batt insulation, and dual Trane AC systems, ensuring exceptional energy efficiency and durability.
Ideally situated near ASU, Mill Avenue, and Sky Harbor Airport, the property offers unparalleled access to major employment hubs, dining, and entertainment.
The functional basement layout provides significant additional living space and natural cooling, while the lack of an HOA offers homeowners greater freedom and lower monthly carrying costs.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3105, other record living area = 2647.
The assigned elementary, middle, and high schools all carry a rating of 3, which may be a deterrent for families prioritizing high-ranking public education.
With a large 3,105 sq ft footprint, RV gate, and storage shed on a 7,527 sq ft lot, the remaining private outdoor yard space is relatively limited for a home of this size.
Custom-built Mortensen basement home in the heart of Tempe featuring 5 bedrooms, a great room, 3.5 baths, and 3,100 sq ft of living space. THE LOWEST PRICED 3,000+ SQFT HOME IN ALL OF TEMPE! Built with quality 2x6 framing, dual-pane windows, sound batt insulation, and 9-ft ceilings for comfort and quiet living. Open island kitchen flows into spacious living areas, perfect for entertaining. Features include dual Trane AC systems, concrete tile roof, oversized garage with workbench and utility sink, RV gate, extended driveway parking, water softener, and a newer Tuff Shed for extra storage. Conveniently located near ASU, Mill Ave, Tempe Town Lake, Sky Harbor Airport, and major freeways. No HOA!
No exterior & parking available.
Grades PK-5 • 0.4 mi
Grades 6-8 • 0.3 mi
Grades 9-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 87% |
| Baths | 4.0 | 2.0 | 96% |
| Square foot | 3,105 | 1,550 | 96% |
| Lot Size | 7,527 | 6,765 | 57% |
| Price | $795.0K | $0 | 96% |
| Price per sq ft | $256 | $0 | 65% |
| Built year | 1998 | 1959 | 87% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 2174 | 4% |
May 21, 2026
$795,000
Initial Listing