1527 S RIVER Drive, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 2 bath
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Tempe, AZ 85281
This Tempe Townhouse is a strategic residential asset listed at $402,000, positioned near its Fair Market Value of $376,411. The property holds a Condition Rating of 4, featuring a brand-new roof and dated interior finishes that present a clear value-add opportunity. Key highlights include a spacious backyard, private patio, and a versatile garage space. Located near ASU and schools like McClintock High, Connolly Middle, and Curry Elementary, the home offers strong lifestyle appeal and high rental demand. This is a premier choice for Buy-and-Hold Investors or Owner-Occupants looking to modernize a well-located asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1527 S RIVER Drive Subject | $402,000* List Price | 2 | 2 | 1,080 | $349 | - |
A 2127 E 10TH Street 4 Active | $310,000 List Price | 3 | 2 | 1,036 | $299 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained but reflects its 1979 construction with largely dated interior features. The kitchen and bathrooms contain older oak-style cabinetry, laminate countertops, and vintage tile flooring. Notably, the bathroom vanity area features carpet, which is an outdated standard. While the roof was recently replaced, the interior requires cosmetic updates and modernization to meet current market expectations.
Situated in the heart of Tempe near ASU, shopping, and dining, this property offers exceptional appeal for both owner-occupants and investors seeking a high-demand rental market.
The roof was replaced this year, providing significant immediate value and peace of mind by eliminating a major upcoming maintenance expense for the buyer.
Unlike many townhomes, this property features a spacious backyard and a garage with the potential to be converted into a home gym or hobby space, offering rare flexibility.
Built in 1979, the property may require interior cosmetic updates or modernization of original systems to meet the expectations of contemporary buyers.
The $310 monthly association fee is a recurring cost that buyers must factor into their debt-to-income ratio, which may impact overall affordability.
Welcome to 1527 S River Dr. in the heart of Tempe. The property features a spacious backyard with plenty of room to entertain, relax or personalize to your liking. The roof was redone this year, providing added value and peace of mind. The garage offers great potential and is perfect for a man cave, hobby space or home gym. Conveniently located near shopping, dining and ASU, this home presents an excellent opportunity for homeowners or investors looking to be close to it all.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 6-8 • 0.5 mi
Grades 9-12 • 1.0 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 | 1,080 | 1,230 | 38% |
| Lot Size | 3,171 | 1,879 | 85% |
| Price | $402.0K | $243.0K | 92% |
| Price per sq ft | $372 | $225 | 92% |
| Built year | 1979 | 1985 | 31% |
| HOA | $310 | $189 | 92% |
| Days on market | 117 | 2730 | 8% |
Dec 26, 2025
$402,000
Initial Listing