1536 E EDGEWATER Drive, Tempe, AZ 85283, Tempe, 85283 - 3 bed, 2 bath
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Tempe, AZ 85283
This property presents a High-Potential Investment Opportunity with a List Price of $645,000—positioned well above the $620,000 Fair Market Value by -4%. While currently priced above market, the home’s Condition Rating of 4 and 2,311 sqft floor plan offer significant value-add potential through modernization. Featuring a private pool, putting green, and access to The Lakes community amenities, this asset is a prime candidate for renovation. It is an ideal acquisition for Fix-and-Flip Investors or Owner-Occupants seeking to build equity in a sought-after Tempe neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1536 E EDGEWATER Drive Subject | $625,000* List Price | 3 | 2 | 2,311 | $242 | - |
A 1602 E WEATHERVANE Lane Sold | $442,700 | 4 | 3 | 2,316 | $191 | 0.1 mi |
B 5624 S CROWS NEST Road Sold | $570,000 | 4 | 2 | 2,310 | $247 | 0.3 mi |
C 1608 E WEATHERVANE Lane Active | $674,000 List Price | 4 | 2 | 2,311 | $292 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1978 with partial renovations (travertine-style tile and granite countertops) that appear to be 15-25 years old. The kitchen features dated cabinetry and older black appliances, while the bathrooms show aging oak vanities and gold-trimmed fixtures. The listing description explicitly identifies the property as an 'opportunity for updates,' indicating it is functional but requires modernization.
Situated in the highly desirable 'The Lakes' community, the property offers access to an exceptional lifestyle including a clubhouse, fitness center, tennis and pickleball courts, and scenic lake recreation.
The backyard is fully equipped for Arizona living with a private pool, a putting green, and a large covered patio, providing significant value for outdoor entertaining.
With over 2,300 square feet and a functional floor plan, this home serves as an ideal canvas for a renovation project, allowing buyers to build equity through modern updates in a sought-after neighborhood.
The property is marketed as an opportunity for customization and updates, indicating that the 1978 interior likely requires a substantial capital investment to meet modern aesthetic and functional standards.
The assigned middle and high schools have average ratings (4 and 5 respectively), which may be a drawback for families specifically seeking top-tier educational performance.
Location, Location, Location. This one has it! Opportunity awaits in the highly desirable community in The Lakes Tempe. This home offers a spacious floor plan and endless potential to make it your own. It features 3 bedrooms, 2 bathrooms, functional floor plan, large covered patio with plenty of space for outdoor entertaining, a private pool, putting green, and an excellent location within the community, and offers an excellent opportunity for updates and customization. Residents of The Lakes enjoy outstanding amenities, including a community clubhouse, fitness center, tennis courts, pickleball courts and scenic lakes and recreational areas. Whether you're looking for a primary residence, investment property, or a home to renovate to your taste, this property offers exceptional Location, Location, Location. This one has it! Opportunity awaits in the highly desirable community in The Lakes Tempe. This home offers a spacious floor plan and endless potential to make it your own. It features 3 bedrooms, 2 bathrooms, functional floor plan, large covered patio with plenty of space for outdoor entertaining, a private pool, putting green, and an excellent location within the community, and offers an excellent opportunity for updates and customization. Residents of The Lakes enjoy outstanding amenities, including a community clubhouse, fitness center, tennis courts, pickleball courts and scenic lakes and recreational areas. Whether you're looking for a primary residence, investment property, or a home to renovate to your taste, this property offers exceptional value and potential in one of Tempe's most sought-after neighborhoods.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
Grades 6-8 • 0.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 2,311 | - |
| Lot Size | 6,303 | - |
| Price | $625.0K | $562.2K |
| Price per sq ft | $270 | $326 |
| Built year | 1978 | 0 |
| HOA | $405 | $0 |
| Days on market | 33 | 2615 |
Jul 3, 2026
$625,000
$645,000
-3% Price Drop
Initial Listing
Jun 20, 2026
$645,000
Initial Listing