1613 S FARMER Avenue, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 1 bath
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Tempe, AZ 85281
This property presents a High-Potential Investment Opportunity with a List Price of $420,000—positioned well above the $326,197 Fair Market Value by -28%. Featuring a Condition Rating of 5, the 1954 structure requires a comprehensive renovation to modernize its dated systems and layout. The expansive lot and prime location near ASU offer significant upside for value-add strategies, including potential expansion. This asset is best suited for Fix-and-Flip Investors or first-time buyers capable of executing a full-scale project to capture long-term equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1613 S FARMER Avenue Subject | $420,000* List Price | 3 | 1 | 1,148 | $284 | - |
A 1245 W 11TH Street Sold | $480,000 | 4 | 2 | 1,503 | $319 | 0.9 mi |
B 705 W 11th Street Pending | $325,000 List Price | 3 | 2 | 1,008 | $322 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1954 (70 years old) with no evidence of major renovations. The listing explicitly describes the home as an 'investor opportunity' and a 'project,' indicating it needs a full rehab. Interior images show dated carpet, original built-ins, and 1950s-era finishes, suggesting systems and surfaces are well beyond their functional life.
Situated in a highly desirable Tempe pocket minutes from Arizona State University and Tempe Town Lake, this property offers exceptional proximity to major employment hubs and entertainment.
The combination of a massive backyard with no rear neighbors and the absence of an HOA provides significant freedom for expansion, ADU construction, or custom outdoor renovations.
Located in the 85281 zip code, the property is perfectly positioned to capture the consistent student and professional rental market, ensuring strong long-term investment viability.
The 3-bedroom layout is serviced by only a single bathroom, which is a significant drawback for modern families and may require a costly addition to maximize resale value.
Marketed as an investor project, the 1954 structure likely requires substantial capital expenditure for modernization and system updates to meet current market standards.
Located in a highly desirable area of Tempe just minutes from Arizona State University and Tempe Town Lake, this 3 bedroom, 1 bath home is a fantastic investor opportunity with tons of potential. The home features a spacious great room perfect for gathering and relaxing, along with an eat-in kitchen complete with a gas stove and space for everyday dining. Step outside to a massive backyard with no homes behind you, offering extra privacy and endless possibilities for outdoor living, expansion, or entertaining. With no HOA, you have the freedom to make this property your own. Conveniently located near shopping, restaurants, parks, entertainment, major freeways, and all the excitement Tempe is known for, this property is ideal for investors, first-time buyers looking for a project, or anyone or anyone searching for a home in a prime location with strong future potential.
No exterior & parking available.
Grades PK-5 • 0.9 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 0.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 14% |
| Square foot | 1,148 | 1,535 | 18% |
| Lot Size | 6,504 | 6,651.5 | 45% |
| Price | $420.0K | $0 | 64% |
| Price per sq ft | $366 | $0 | 95% |
| Built year | 1954 | 1958 | 32% |
| HOA | $0 | $0 | 50% |
| Days on market | 31 | 2197 | 5% |
May 13, 2026
$420,000
Initial Listing