
Tempe, AZ 85281
This property presents a High-Potential Investment Opportunity with a List Price of $400,000—positioned well above the $319,922 Fair Market Value by -25%. While currently priced as a premium, the home’s Fair Condition Rating and history as a successful Airbnb highlight its utility as a rental asset. Featuring a 3-bedroom layout and community pool/spa access, it offers significant flexibility for short-term income near ASU. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a strategic location with high rental demand.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1608 S TORRE MOLINOS Circle Subject | $400,000* List Price | 3 | 2 | 1,560 | $205 | - |
A 1501 S RIVER Drive Sold | $295,857 | 3 | 3 | 1,627 | $182 | 0.1 mi |
B 2151 E SANOS Drive Active Under Contract | $400,000 List Price | 3 | 2 | 1,560 | $256 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974 with interior renovations (oak cabinetry, tile countertops, and ceramic flooring) that appear to be 20+ years old. While the home is functional and was previously used as an Airbnb, the kitchen and bathrooms are dated by modern standards. The HVAC system is not new, and the property requires cosmetic updates and minor repairs to move out of the 'dated' category.
Situated in the heart of Tempe near ASU, Tempe Marketplace, and major freeways, this property offers unparalleled access to employment, education, and entertainment hubs.
With a history as a successful Airbnb and a functional 3-bedroom layout, this home is perfectly positioned for short-term rental income or student housing.
The beautifully maintained community provides a low-maintenance lifestyle with premium features including a pool, spa, tennis courts, and mature landscaping.
Built in 1974, the property may require updates to major systems or cosmetic modernizations to compete with newer residential developments in the area.
The assigned public schools carry average ratings (4-5/10), which may be a drawback for families prioritizing top-tier educational performance.
Your new 3-bedroom, 2-bathroom Tempe home offers the perfect combination of location, lifestyle, convenience, and flexibility in one of the most desirable areas of the Valley. The close proximity to Arizona State University makes this property ideal for students. The location is also great for professionals, winter visitors, or anyone who wants to enjoy everything Tempe has to offer while still having easy access to the rest of the Phoenix metro area. Your new home is situated in a beautifully maintained community featuring a sparkling community pool, spa, tennis courts, walking paths, mature landscaping, and inviting common areas that create a true Arizona resort-style atmosphere. Whether you are looking for a low-maintenance primary residence, seasonal lock-and-leave home, or investment property, this community offers the lifestyle many buyers are searching for. Inside, your new home features a functional floor plan with spacious living areas, natural light, comfortable bedrooms, and flexible living space perfect for roommates, guests, a home office, or college living. The layout provides both privacy and functionality, making it a great fit for a variety of living situations. Previously operated as a successful Airbnb, this property also presents an outstanding opportunity for buyers looking for income potential or a flexible investment property in a high-demand location near ASU and some of the Valley's most popular destinations. Living here places you close to Arizona State University, Tempe Marketplace, Mill Avenue, Old Town Scottsdale, Sloan Park, Cubs Spring Training, Sky Harbor International Airport, Mesa Riverview, and countless shopping, dining, entertainment, hiking, golf, and recreation opportunities. Major freeway access including the Loop 101, Loop 202, US-60, and I-10 makes getting around the Valley simple and convenient.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 6-8 • 0.4 mi
Grades 9-12 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.5 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,560 | 1,272 | 63% |
| Lot Size | 3,868 | 1,965 | 75% |
| Price | $400.0K | $67.5K | 88% |
| Price per sq ft | $256 | $78 | 75% |
| Built year | 1974 | 1986 | 25% |
| HOA | $350 | $196 | 88% |
| Days on market | 18 | 2636 | 13% |
May 28, 2026
$400,000
Initial Listing