1927 E VELVET Drive, Tempe, AZ 85284, Tempe, 85284 - 3 bed, 2 bath
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Tempe, AZ 85284
This Value-Add Residential Property is listed at $462,500, offering a stable entry into the desirable 85284 zip code relative to its $415,101 Fair Market Value. While maintaining a Fair Condition Rating, the home provides long-term security with a Brand-New AC (2025), New Electrical (2025), and a 2020 Roof. Located in the Kyrene School District near Corona Del Sol High and C I Waggoner School, the property features a Private Patio and rare community RV/Boat Parking. This is a strategic opportunity for Owner-Occupants or first-time buyers looking to modernize a mechanically sound asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1927 E VELVET Drive Subject | $462,500* List Price | 3 | 2 | 1,391 | $298 | - |
A 1919 E Velvet Drive Sold | $504,675 | 3 | 2 | 1,511 | $334 | 0.0 mi |
B 1824 E Secretariat Drive Sold | $472,500 | 3 | 2 | 1,391 | $340 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained with significant recent capital improvements, including a new roof (2020), water heater (2021), and brand-new AC and electrical systems (2025). However, the interior finishes, such as the Saltillo tile flooring and light fixtures, are dated and reflect the original 1985 construction. The listing description explicitly states the interior is ready for personal updates, which aligns with the 'fair' condition criteria of a home that is functional but shows signs of being outdated.
The property features significant recent capital improvements, including a new roof (2020), water heater (2021), and brand-new AC and electrical systems (2025), offering peace of mind and reducing immediate maintenance costs.
The Tempe Royal Palms community provides high-value perks including rare RV and boat parking, multiple swimming pools, and well-maintained parks and walking paths.
Situated in the desirable 85284 zip code with immediate access to the Loop 101, the home is perfectly positioned for easy commuting and proximity to premier shopping and dining.
The interior is noted as being ready for personal updates, indicating that buyers will likely need to budget for modernizing finishes, flooring, and cabinetry to maximize the home's potential.
The two-car garage is detached from the main living structure, which may be viewed as a convenience drawback compared to the attached garages typically preferred in this price point.
Welcome to a wonderful opportunity in a vibrant Tempe community. This home offers vaulted ceilings, a spacious primary suite with en-suite bath, dual sinks, and walk-in closet, plus a detached 2-car garage with added storage cabinets. While the interior is ready for your personal updates, the big-ticket items are already done: new roof (2020), new water heater (2021), and brand-new AC (2025), and electrical (2025). Enjoy a private backyard sitting area perfect for relaxing evenings. The community shines with RV/boat parking. Community area with a large pool and a shallow pool, walking paths, parks, and beautifully maintained common areas. Ideally located near Loop 101 with easy access to shopping and dining, this home offers lifestyle, location, and outstanding potential in one great home.
No exterior & parking available.
Grades PK-5 • 0.9 mi
Grades 6-8 • 0.9 mi
Grades 9-12 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 37% |
| Baths | 2.0 | 3.0 | 46% |
| Square foot | 1,391 | 2,387 | 8% |
| Lot Size | 4,744 | 9,087 | 11% |
| Price | $462.5K | $360.0K | 52% |
| Price per sq ft | $332 | $204 | 78% |
| Built year | 1985 | 1987 | 27% |
| HOA | $82 | $175 | 43% |
| Days on market | 42 | 2855 | 2% |
Mar 12, 2026
$462,500
Initial Listing