
Tempe, AZ 85281
This Versatile University-Adjacent Residence is a strategic asset listed at $600,000, representing a stable entry point at its $600,000 Fair Market Value. Boasting a Condition Rating of 4, the home features essential infrastructure upgrades including a brand-new AC unit and a 10,502-square-foot lot with high utilization potential. The 2,611-square-foot interior includes a private 4th bedroom with a mini-split and a spacious sunroom, perfectly positioned for the high rental demand near Arizona State University. This property is an ideal match for Buy-and-Hold Investors or Owner-Occupants looking for a value-add "house hack" in a prime Tempe location.
Property is moderate renovation needed.
Originally built in 1950, the property is functional and livable but shows significant signs of age. While it features essential modern upgrades like a brand-new AC unit and updated wood-look laminate flooring in the main living areas, other components remain dated. Visual inspection reveals worn carpeting in bedrooms, popcorn ceilings, older window units, and an exterior that requires minor maintenance and landscaping. The kitchen and bathrooms, while functional, reflect older styling rather than a comprehensive modern renovation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10502, living area = 2611.
Situated just minutes from Arizona State University, this property offers exceptional potential for student housing or high-yield rental income in a high-demand area.
The home features a brand-new main AC unit and a dedicated mini-split for the fourth bedroom, providing essential climate control efficiency for the Arizona desert.
Originally built in 1950, the property may require ongoing maintenance or updates to aging systems typical of homes from this era to meet modern standards.
The assigned public schools carry mid-range ratings (4-5), which may be a consideration for families prioritizing top-tier educational districts.
Seize an exceptional opportunity to own a versatile 4-bedroom, 2-bath home w/ brand new AC UNIT, in a highly desirable location just minutes from Arizona State University—making it ideal for owner-occupants, student housing, or long-term rental income. A charming curb appeal welcomes you with a 2-car garage, fenced front yard with natural grass, and a fragrant citrus tree that adds a touch of Mediterranean character. Step inside to a warm, inviting living space highlighted by wood-look flooring and a soothing, neutral palette that fits any style. The spacious great room is perfect for gathering, featuring a cozy fireplace ideal for relaxing evenings or hosting friends. The well-appointed kitchen offers ample wood cabinetry and built-in appliances, making meal prep effortless for busy lifestylesperfect for roommates or family living alike. A bright and airy sunroom extends the living space and is ideal for studying, entertaining, or simply enjoying Arizona's beautiful weather year-round. The primary suite provides a private retreat with an en-suite bath and dual sinks, while three additional bedrooms offer flexibility for tenants, guests, or a home office. 4th Bedroom/Office is located off of the patio and has it owns MINI-SPLIT AC. Outside, the large backyard presents endless potential with an open patio, storage shed, and plenty of room to create your own outdoor oasis. Located close to ASU, shopping, dining, and major freeways, this property checks all the boxes for investors seeking strong rental demand or buyers wanting a smart long-term investment. Whether you're looking for a primary residence, a student rental, or a high-yield investment, this home delivers exceptional value and opportunity. Don't miss it!
No exterior & parking available.
Grades K-5 • 0.9 mi
Grades 6-8 • 0.9 mi
Grades 9-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 63% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 2,611 | 1,552.5 | 97% |
| Lot Size | 10,502 | 7,355 | 87% |
| Price | $600.0K | $266.0K | 90% |
| Price per sq ft | $230 | $186 | 57% |
| Built year | 1950 | 1958 | 13% |
| HOA | $0 | $0 | 50% |
| Days on market | 97 | 2129 | 3% |
Jan 15, 2026
$600,000
Initial Listing