
Gilbert, AZ 85295
This High-Potential Investment Opportunity is a Single Family Residence listed at $399,000—positioned well below the $411,744 Fair Market Value by 3%. This valuation gap offers $12,744 in Instant Equity. Featuring a Condition Rating of 3, the home includes a new 2025 AC unit and a Granite Kitchen. Located near Top-Rated Schools like Spectrum Elementary, this turnkey asset provides immediate cash flow. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a stable Gilbert location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1680 E ELGIN Street Subject | $399,000* List Price | 3 | 3 | 1,684 | $245 | - |
A 1672 E ELGIN Street Sold | $415,000 | 3 | 3 | 1,564 | $265 | 0.0 mi |
B 2637 S SOUTHWIND Drive Sold | $425,000 | 3 | 2 | 1,576 | $270 | 0.7 mi |
C 3104 S LOIS Lane Sold | $499,000 | 4 | 3 | 2,194 | $227 | 0.9 mi |
D 2879 S KEY BISCAYNE Drive Pending | $418,000 List Price | 3 | 3 | 1,849 | $226 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2007 (19 years old), the home is well-maintained and functional. The kitchen features granite counters and staggered cabinetry original to the build, while the HVAC system is excellent following a full replacement in 2025.
The installation of a new AC unit in January 2025 provides significant value and peace of mind, reducing immediate capital expenditure risks in the Arizona climate.
Situated in the highly desirable Spectrum at Val Vista, the property is steps from the community pool and offers excellent proximity to San Tan Village and the Loop 202.
The property features a modern open-concept layout with granite countertops and a reliable tenant already in place, offering immediate cash flow for investors.
The small 2,960 sqft lot and paved backyard offer minimal privacy and restricted space for gardening or outdoor activities compared to other single-family residences.
Current tenant occupancy may complicate scheduling for showings and create potential timing hurdles for owner-occupant buyers wanting immediate possession.
Welcome to this well-maintained 3-bedroom, 2.5-bath home in the highly desirable Spectrum at Val Vista community in Gilbert, AZ 85295. This 1,684 sq ft, two-story Richmond American home offers an open-concept layout ideal for comfortable living or strong rental appeal. Enjoy a bright living area that flows into the kitchen featuring granite counters, staggered cabinetry, an island/breakfast bar, pantry, and modern appliances. The main level includes a convenient powder room, while upstairs you'll find three generously sized bedrooms, including a primary suite with dual sinks, separate garden tub and shower, and a walk-in closet, plus an upstairs laundry. Home is currently occupied by tenants but they are open to negotiating an early termination of lease. New AC unit added in January 2025. Additional highlights include a 2-car garage, low-maintenance paved backyard patio perfect for easy upkeep, dual-pane windows, central air with ceiling fans, and tile/carpet flooring in all the right places. The community pool is just steps from your door, with additional amenities like playgrounds, tennis courts, and walking/biking paths. Prime East Valley location with quick access to the Loop 202 freeway, San Tan Village shopping/dining/entertainment, top-rated Gilbert Unified schools, and everything Gilbert has to offer. Turnkey investment opportunity -- a reliable tenant is already in place, providing immediate cash flow with no vacancy or turnover hassle. Perfect for investors seeking a solid rental in a strong Gilbert market. Don't miss this ready-to-go asset in one of the East Valley's most convenient neighborhoods!
No exterior & parking available.
Grades PK-6 • 0.4 mi
Grades 7-8 • 1.5 mi
Grades 8-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 1,684 | 2,210.986 |
| Lot Size | 2,960 | 7,346.256 |
| Price | $399.0K | $598.8K |
| Price per sq ft | $237 | $280 |
| Built year | 2007 | 2003 |
| HOA | $498 | $224 |
| Days on market | 22 | 71 |
Aug 18, 2026
$399,000
Initial Listing