1816 E Morgan Drive, Gilbert, AZ 85295, Gilbert, 85295 - 3 bed, 2 bath
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Gilbert, AZ 85295
This High-Potential Investment Opportunity is a 3-bedroom, 2-bath single-family residence listed at $499,000—positioned well below the $514,763 Fair Market Value by 3%. This valuation gap offers $15,763 in Instant Equity. Featuring a Condition Rating of 2 with recent modern renovations, the home includes wood-tile flooring and a covered back patio. Located in the Gilbert Ranch community near top-rated schools like Ashland Elementary, this property is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1816 E Morgan Drive Subject | $499,000* List Price | 3 | 2 | 1,655 | $311 | - |
A 2509 E ERIE Court Sold | $599,000 List Price | 3 | 2 | 1,892 | 0.9 mi | |
B 1741 E CARLA VISTA Drive Sold | $490,000 | 3 | 3 | 1,617 | $303 | 0.3 mi |
C 1742 E PONY Lane Active | $510,000 List Price | 3 | 2 | 1,513 | $337 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1998, the property has undergone a comprehensive recent remodel (likely <5 years) featuring modern wood-tile flooring, updated white cabinetry, stainless steel appliances, and fully renovated bathrooms with contemporary stone countertops and fixtures.
Situated in the desirable Gilbert Ranch community, the home faces a green common area and is surrounded by single-level residences, offering enhanced privacy and optimal North/South exposure.
The interior features extensive remodeling, including wood-tile flooring throughout, vaulted ceilings, and a primary suite with a custom tile walk-in shower and dual vanities.
Ideally located near SanTan Village for premier shopping and dining, the property also offers quick freeway access and community features like walking paths and playgrounds.
The property is currently occupied by a tenant, which may limit immediate possession for owner-occupants and complicate scheduling for property tours.
Listing photos were taken prior to the current tenant's occupancy, meaning the current condition may differ from the provided visual representations.
Great investor opportunity with tenant in place! Remodeled 3-bedroom, 2-bath home is located in the desirable Gilbert Ranch community and is surrounded by single-level homes, offering added privacy with nice green common area in front with North/south exposure. The spacious floor plan features formal living and dining areas along with a generously sized family room. Vaulted ceilings enhance the open feel, while the neutral interior showcases wood-tile flooring throughout, along with blinds and ceiling fans for added comfort. The home offers 3 nicely sized bedrooms, each with ample closet space. The primary suite includes a full bath with a tile surround walk-in shower, dual sink vanity, spacious walk-in closet, and private access to the backyard. Mature front and backyard landscape with pavers and covered back patio, perfect for relaxing or entertaining. Gilbert Ranch offers walking paths, playgrounds, and nearby public transportation. Ideally located near SanTan Village with excellent shopping and dining options, plus convenient freeway access for an easy commute. Photos are prior to tenant occupancy.
No exterior & parking available.
Grades PK-6 • 0.9 mi
Grades 7-8 • 1.4 mi
Grades 8-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 37% |
| Square foot | 1,655 | 2,069.5 | 24% |
| Lot Size | 6,188 | 7,700 | 36% |
| Price | $499.0K | $0 | 71% |
| Price per sq ft | $302 | $0 | 84% |
| Built year | 1998 | 2003 | 9% |
| HOA | $88 | $122 | 36% |
| Days on market | 19 | 2804 | 1% |
May 18, 2026
$499,000
Initial Listing