147 E PALO BLANCO Way, Gilbert, AZ 85296, Gilbert, 85296 - 3 bed, 2 bath
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147 E PALO BLANCO Way
Gilbert, AZ 85296
ACTIVE
CONDITION: FAIR
3Beds
2Baths
1,620Sq Ft
7,013Lot Size
Property Price
LIST PRICE$560,000
EST. MARKET VALUE
$526,981
6% AboveMARKET VALUE
SUMMARY
This Spacious Single Family Residence represents a High-Potential Investment Opportunity, listed at $560,000—positioned above the $526,982 Fair Market Value. While the price reflects a premium, the property features a Fair Condition Rating with a private pool and a large 7,013 sqft lot overlooking a scenic common area. Located within walking distance of Gilbert Elementary and Mesquite Jr High, this home offers significant long-term stability. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add project in a prime Gilbert location.
Estimated Market Value
$526,981
Based on Realkey algorithm analyzing recent comparable sales in Gilbert.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 147 E PALO BLANCO Way Subject | $560,000* List Price | 3 | 2 | 1,620 | $325 | - |
A 311 E LAREDO Avenue Sold | $455,000 | 3 | 2 | 1,576 | $289 | 0.2 mi |
B 260 S YALE Court Sold | $520,000 | 3 | 2 | 1,820 | $286 | 0.3 mi |
C 407 E CENTURY Avenue Sold | $499,900 | 3 | 2 | 1,760 | $284 | 0.5 mi |
D 744 E APPALOOSA Road Sold | $429,000 | 3 | 2 | 1,288 | $333 | 0.9 mi |
E 340 E RAWHIDE Avenue Active | $510,000 List Price | 4 | 2 | 1,868 | $273 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1998 (28 years old), the property falls into the 'Fair' category due to its age and dated aesthetic. While the home appears well-maintained with upgraded stone-look tile flooring and a functional pool, the interior fixtures and overall style suggest a renovation age of 15+ years. Major systems like the tile roof and HVAC are likely approaching the end of their typical 30-year lifespan.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7013, living area = 1620.
- Prime Family Location
The property is exceptionally well-located for families, situated within walking distance (under 0.6 miles) of both Gilbert Elementary and Mesquite Junior High School.
- Generous Lot Size
At over 7,000 square feet, the lot provides a spacious outdoor area that is significantly larger than many contemporary builds in the Gilbert area, offering room for a pool or custom landscaping.
CONSRISKS & DEFICIENCIES
- Moderate School Ratings
While the schools are conveniently close, the current ratings for the assigned elementary and middle schools are average (4/10), which may impact appeal for education-centric buyers.
- Potential for Capital Improvements
Built in 1998, the property is approaching a 30-year milestone where major systems like the roof, HVAC, or original interior finishes may require updates to meet modern buyer expectations.
About 147 E PALO BLANCO Way
Exceptional opportunity in Gilbert. This spacious residence offers a versatile layout ideal for modern living. Situated on a quiet street in a highly desirable area.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1998
- Lot Size
- 7,013 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $700 / Month
Neighborhood Insights
Gilbert Unified Schools
Gilbert Elementary School
Grades PK-6 • 0.5 mi
4/10
Mesquite Jr High School
Grades 6-8 • 0.5 mi
4/10
Gilbert High School
Grades 8-12 • 1.1 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 3.0 |
| Square foot | 1,620 | 2,210.986 |
| Lot Size | 7,013 | 7,346.256 |
| Price | $560.0K | $598.8K |
| Price per sq ft | $346 | $280 |
| Built year | 1998 | 2003 |
| HOA | $700 | $224 |
| Days on market | 7 | 71 |
Pricing History
Listed for Sale
Sep 2, 2026
$560,000
Initial Listing
Sold
Aug 10, 1998
$132,571
Public Record