2141 E Melrose Street, Gilbert, AZ 85297, Gilbert, 85297 - 5 bed, 3 bath
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Gilbert, AZ 85297
This Strong Value Opportunity is listed at $1,550,000, positioned slightly above the $1,512,485 Fair Market Value. Featuring a Good Condition Rating, this rare 1-acre irrigated property includes a 2,639 sq ft main home and a 900 sq ft detached apartment, offering exceptional versatility for multi-generational living. With recent major system upgrades including a new roof, HVAC, and Anderson windows, the property provides long-term mechanical reliability. Located near top-rated schools like Quartz Hill Elementary, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking space and privacy.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2141 E Melrose Street Subject | $1,550,000* List Price | 5 | 3 | 4,264 | $355 | - |
A 2218 E MAPLEWOOD Street Sold | $1,299,900 List Price | 4 | 5 | 3,465 | 0.2 mi | |
B 2520 E WINCHESTER Drive Active | $1,495,000 List Price | 5 | 5 | 5,081 | $294 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While the home was built in 2000 (24 years old) and retains dated oak cabinetry in the kitchen, it is rated 'Good' due to extensive recent maintenance and major system upgrades. The property features a brand-new roof, new HVAC systems for all structures, new Anderson windows, and a new hybrid water heater. With fresh interior/exterior paint and new carpeting, the home is in functional, move-in ready condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 47219, living area = 4264.
The property features a fully equipped 900 sq ft detached apartment with two bedrooms, a kitchen, and laundry, offering exceptional versatility for multi-generational living or guest accommodations.
Significant recent investments include a new roof, new HVAC systems for all structures, Anderson windows, and a hybrid water heater, providing the buyer with long-term mechanical reliability.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4264, other record living area = 2639.
The combination of a large irrigated lot, multiple detached structures, and extensive square footage necessitates higher-than-average ongoing maintenance and utility costs.
With a list price of $1.55M for a year-2000 build, the property may face stiff competition from newer luxury developments that offer more modern architectural styles and open-concept floor plans.
Rare 1-acre irrigated property located on a private street, ideally situated near the LDS Temple, shopping, schools, and freeway access. The main home features an open family room and kitchen, formal dining area, 5 bedrooms, 3 bathrooms, laundry room, large pantry, and spacious primary suite with generous closet and bathroom. Recent updates include new interior and exterior paint, new carpet, shutters in the family room, dining room, front bedroom, and garage, along with new blinds in additional bedrooms. Kitchen improvements include newer appliances, microwave, and garbage disposal. Major system upgrades include all new Anderson windows, a new hybrid water heater, H2O Concepts water filtration system (serving house and apartment), and new roof and air conditioning systems for the home, apartment, and garage. Outdoor living is highlighted by a large covered patio (35' x 22'), automatic sprinkler system, and 16-foot RV gate providing access to the spacious backyard. The oversized garage (29' x 25') offers 725 sq ft with 10 ft ceilings, epoxy flooring, insulated walls/ceiling/door, windows with shutters, and dedicated heating and cooling. Multiple access points provide convenient entry to both the home and kitchen. The detached apartment (30' x 30') offers approximately 900 sq ft with 2 bedrooms, large living room, kitchen with updated appliances, laundry room, walk-in shower bath, and insulated attic storage. Covered patio and parking complete the space. Total structure includes approximately 2,639 sq ft main home, 725 sq ft garage, and 900 sq ft apartment (approx. 4,264 sq ft combined improvements).
No exterior & parking available.
Grades K-6 • 1.0 mi
Grades 7-8 • 2.8 mi
Grades 8-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 79% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 4,264 | 2,315 | 96% |
| Lot Size | 47,219 | 7,449 | 99% |
| Price | $1.55M | $0 | 96% |
| Price per sq ft | $364 | $0 | 94% |
| Built year | 2000 | 2004 | 13% |
| HOA | $0 | $155 | 4% |
| Days on market | 13 | 2701 | 1% |
Jun 1, 2026
$1,550,000
Initial Listing