1805 E RANDALL Drive, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 2 bath
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Tempe, AZ 85281
This property presents a High-Potential Investment Opportunity with a List Price of $399,000—positioned well below the $413,452 Fair Market Value by 3%. This valuation gap offers $14,452 in Instant Equity. Featuring a Condition Rating of 5, the home requires a full rehab, but the rear building conversion potential and proximity to ASU drive significant rental demand. This is a value-add asset ideal for Buy-and-Hold Investors or Fix-and-Flip Investors targeting the student housing market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1805 E RANDALL Drive Subject | $399,000* List Price | 3 | 2 | 1,334 | $304 | - |
A 2136 E LEMON Street Active | $449,000 List Price | 3 | 2 | 1,339 | $335 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1956 and marketed as an 'Investor Special,' this property requires a full rehab. The kitchen features original-style cabinetry and a vintage pink wall oven, indicating it is well over 30 years old without significant renovation. While the electrical panel has been upgraded, the worn carpeting, dated bathrooms, and overall interior condition necessitate a major overhaul rather than minor repairs.
Situated in the heart of Tempe and extremely close to the ASU campus, this property offers exceptional rental potential and high demand for student-oriented living.
The property includes a rear storage building that can be converted into two additional bedrooms, providing a clear path to increase the home's capacity and rental yield.
The home features a desirable North/South exposure for better energy efficiency, along with a large RV gate and alley access for added convenience and storage.
As a 1956 build marketed as an 'Investor Special,' the property likely requires significant capital expenditure for renovations and modernization.
The local elementary school carries a low rating of 3/10, which may deter traditional family buyers and limit the property's appeal to a narrower demographic.
Investor Special! 1,634sf total under roof including rear building! 3 bedroom, 2 bathroom home with 1 car carport! Easily convert rear storage building into 2 additional bedrooms! Laminate wood flooring in several bedrooms! Oversized interior laundry room! Backyard features extended covered patio and large storage shed! Upgraded electrical panel! Alley access with large RV gate! North/south exposure! Great potential for ASU Student living - located extremely close to the ASU Campus!! Randall Terrace neighborhood in the heart of ASU/Tempe!!
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades 6-8 • 1.1 mi
Grades 9-12 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,334 | - |
| Lot Size | 6,033 | - |
| Price | $399.0K | $562.2K |
| Price per sq ft | $299 | $326 |
| Built year | 1956 | 0 |
| HOA | $0 | $0 |
| Days on market | 34 | 2615 |
Jun 18, 2026
$399,000
Initial Listing