1901 S Shannon Drive, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 3 bath
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Tempe, AZ 85281
This Dual-Residence Property is a Strong Value Opportunity, listed at $400,000—positioned slightly above the $396,381 Fair Market Value. While priced at market, the property offers a unique Income-Producing Asset with a detached casita and a main home featuring a Granite Kitchen and Vaulted Ceilings. With a Condition Rating of 3, the home is move-in ready. Located near Top-Rated Schools like Connolly Middle, this versatile layout is ideal for Buy-and-Hold Investors or Owner-Occupants seeking multi-generational living or rental income potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1901 S Shannon Drive Subject | $400,000* List Price | 3 | 3 | 1,655 | $240 | - |
A 1501 S RIVER Drive Sold | $295,857 | 3 | 3 | 1,627 | $182 | 0.2 mi |
B 1832 S RIVER Drive Active Under Contract | $405,000 List Price | 3 | 3 | 1,627 | $249 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the property was built in 1974, it has been well-maintained and features recent updates including a kitchen with granite countertops and stainless appliances, new flooring throughout, and fresh interior paint. The addition of a detached casita and new xeriscape landscaping makes it move-in ready and functional.
The inclusion of a fully equipped, detached casita with its own kitchen and laundry provides a rare opportunity for rental income, a guest suite, or multi-generational living.
The main residence features significant aesthetic and functional improvements, including an updated kitchen with granite countertops, stainless steel appliances, and new flooring throughout.
As a former model home situated on a larger lot directly adjacent to the community pool, this property offers superior positioning and convenience within the Torre Molinos subdivision.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1655, other record living area = 1199.
Originally constructed in 1974, the property may have aging infrastructure or systems that require more frequent maintenance compared to newer builds.
The $350 monthly association fee represents a significant recurring expense that may impact the overall affordability and debt-to-income ratio for some buyers.
Exceptional opportunity to own a generational homesite or an outstanding income producing property with 2 separate residences. The main home features 2 bedrooms and 1 3/4 bathrooms, an updated kitchen with granite countertops and stainless appliances, vaulted ceilings, spacious loft and new flooring throughout. A cozy fireplace adds warmth and charm to the living space. The detached casita offers a full kitchen, stacked washer & dryer, and new flooring. Ideal for guests, multigenerational living, or rental income potential. This was the former model home for this community. These homes sit on a larger lot, adjacent to 1 of 2 swimming pools for the community. New xeriscape landscaping. Come enjoy this rare find. Main house is 1,199 SF including loft. Casita is 456 SF. Total SF is 1,655.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades 6-8 • 0.4 mi
Grades 9-12 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.5 | 50% |
| Baths | 3.0 | 2.5 | 50% |
| Square foot | 1,655 | 1,272 | 75% |
| Lot Size | 4,165 | 1,965 | 88% |
| Price | $400.0K | $67.5K | 88% |
| Price per sq ft | $242 | $78 | 75% |
| Built year | 1974 | 1986 | 25% |
| HOA | $350 | $196 | 88% |
| Days on market | 14 | 2626 | 13% |
May 23, 2026
$400,000
Initial Listing