1901 S Shannon Drive, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 3 bath
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Tempe, AZ 85281
This Multigenerational Townhouse represents a Strong Value Opportunity, listed at $389,900—positioned well below the $350,473 Fair Market Value by -11%. Featuring a Condition Rating of 3, the property includes a detached 456SF casita, a granite kitchen, and a private patio. Located near top-rated schools like Connolly Middle, this home offers a unique layout for flexible living. It is an ideal acquisition for Owner-Occupants seeking a house-hack or Buy-and-Hold Investors looking for a versatile, income-generating asset in a prime Tempe location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1901 S Shannon Drive Subject | $389,900* List Price | 3 | 3 | 1,655 | $205 | - |
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.
Originally built in 1974, the property has undergone significant recent renovations including an updated kitchen with granite countertops and stainless steel appliances, fresh flooring throughout, and a fully functional detached casita. The interior finishes like the barn doors and updated bathroom fixtures indicate it is well-maintained and move-in ready, fitting the 5-15 year renovation profile.
The property features a rare detached 456SF casita with a full kitchen and laundry, providing an ideal setup for multigenerational living, a private guest retreat, or potential rental income.
Priced below a recent appraisal and following a recent price reduction, this home offers a strong value proposition and immediate equity for the incoming buyer.
Situated on one of the community's larger lots and located directly adjacent to the pool, the property occupies a prime position 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 built in 1974, the home may require more frequent maintenance or future updates to aging infrastructure compared to newer constructions.
The $350 monthly association fee adds a significant fixed cost to the monthly budget, which may impact the overall affordability for some purchasers.
Priced below recent appraisal. Former Torre Molinos model home offers two completely separate residences, making it an exceptional choice for multigenerational living. The main home features 2 bedrooms, 1¾ baths, and 1,199SF of thoughtfully designed living space with soaring vaulted ceilings, a spacious loft, and a cozy wood-burning fireplace that adds warmth and character. The updated kitchen shines with granite countertops and stainless steel appliances, and fresh new flooring flows throughout. The detached 456SF casita provides a full kitchen, stacked washer/dryer, and new flooring - a completely private retreat ideal for parents, adult children, or guests who want independence without distance. This home is situated on one of the community's larger lots, directly adjacent to the pool. Some photos have been digitally altered.
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 |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 1,655 | - |
| Lot Size | 4,165 | - |
| Price | $389.9K | $315.5K |
| Price per sq ft | $236 | $270 |
| Built year | 1974 | 0 |
| HOA | $350 | $0 |
| Days on market | 60 | 2203 |
Jun 17, 2026
$389,900
$400,000
-3% Price Drop
Initial Listing
May 23, 2026
$400,000
Initial Listing