1905 E PEGASUS Drive, Tempe, AZ 85283, Tempe, 85283 - 4 bed, 2 bath
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Tempe, AZ 85283
This Turnkey Single Family Residence represents a Strong Value Opportunity, listed at $650,000—positioned well below the $684,502 Fair Market Value by 5%. This valuation gap provides $34,502 in Instant Equity. Featuring a recent comprehensive renovation and an Excellent Condition Rating, the home includes a modern kitchen, private pool, and dual RV access on a massive 14,275 sqft lot. With no HOA, this property is an ideal acquisition for Owner-Occupants seeking lifestyle flexibility or Buy-and-Hold Investors targeting high-demand Tempe.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1905 E PEGASUS Drive Subject | $650,000* List Price | 4 | 2 | 2,076 | $330 | - |
A 5807 S ALDER Drive Sold | $750,000 | 4 | 3 | 2,450 | $306 | 0.5 mi |
B 1893 E VAUGHN Street Sold | $680,000 List Price | 4 | 3 | 2,636 | 0.2 mi | |
C 1916 E MAGDALENA Drive Sold | $655,000 List Price | 4 | 2 | 2,070 | 0.4 mi | |
D 2016 E REDMON Drive Sold | $732,500 | 3 | 2 | 2,523 | $290 | 0.3 mi |
E 2015 E BENDIX Drive Sold | $650,000 | 3 | 2 | 2,086 | $312 | 0.5 mi |
F 1970 E DUKE Drive Sold | $740,000 | 3 | 2 | 2,419 | $306 | 0.9 mi |
G 1971 E PEGASUS Drive Active | $577,000 List Price | 4 | 2 | 1,953 | $295 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1973, the home has undergone a comprehensive recent renovation (likely <5 years) featuring a modern kitchen with white shaker cabinets and stainless steel appliances, updated bathrooms with contemporary subway tile and black fixtures, and new wood-look tile flooring throughout, making it move-in ready with no immediate maintenance needed.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 14275, living area = 2076.
Centrally located in Tempe with immediate access to US-60 and Loop 101, providing quick commutes to ASU, Sky Harbor Airport, and major employment hubs.
The oversized 14,275 sqft corner lot features both front and rear RV gates, a private pool, and a chicken coop, offering rare flexibility and outdoor utility for the area.
Built in 1973, the home may require significant capital investment for modernizing major systems or cosmetic finishes to meet current market standards.
The property's convenient proximity to major freeways and Sky Harbor Airport likely results in increased ambient traffic and aircraft noise.
Welcome to 1905 E Pegasus Drive, a beautifully maintained home on a premium corner lot in one of Tempe's most desirable neighborhoods. Enjoy quick access to the US-60 and Loop 101, just minutes from Arizona State University, Sky Harbor Airport, Scottsdale, Chandler, Downtown Phoenix, Trader Joe's, the Rio Salado Pathway, parks, shopping, and dining. A mature pine tree shades the front yard, while the backyard features a sparkling pool, rear RV gate, chicken coop, and space to entertain. An additional front RV gate offers added flexibility for parking and storage. Inside, bright living spaces and a rare walk-in secure storage room complete this exceptional home.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 2,076 | - |
| Lot Size | 14,275 | - |
| Price | $650.0K | $562.2K |
| Price per sq ft | $313 | $326 |
| Built year | 1973 | 0 |
| HOA | $0 | $0 |
| Days on market | 13 | 2615 |
Jul 9, 2026
$650,000
Initial Listing