2401 E RIO SALADO Parkway 1072, Tempe, AZ 85288, Tempe, 85288 - 2 bed, 3 bath
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Tempe, AZ 85288
This townhouse represents a Prime Investment Opportunity, listed at a List Price of $349,900—positioned well below the $358,087 Fair Market Value by 2%. This valuation gap offers $8,187 in Instant Equity. With a Good Condition Rating, the unit features a functional layout with Granite Kitchen countertops and a rare 3-bathroom configuration. Located in the heart of Tempe near ASU, this property is an ideal Asset for Buy-and-Hold Investors or first-time buyers seeking a high-demand, low-maintenance rental or residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2401 E RIO SALADO Parkway 1072 Subject | $349,900* List Price | 2 | 3 | 1,100 | $326 | - |
A 552 S ALLRED Drive Sold | $302,500 | 2 | 2 | 987 | $306 | 0.3 mi |
B 552 S ALLRED Drive Sold | $302,500 | 2 | 2 | 987 | $306 | 0.3 mi |
C 2401 E RIO SALADO Parkway 1197 Active | $375,000 List Price | 2 | 3 | 1,100 | $341 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2007 (19 years old), the property falls within the 10-20 year range for 'Good' condition. The kitchen and bathrooms appear well-maintained with original granite countertops and oak cabinetry. The unit is functional and move-in ready with no visible signs of deferred maintenance.
Situated in the heart of Tempe near ASU, Tempe Marketplace, and Sloan Park, this property offers exceptional convenience and high rental demand for investors.
The 2-bedroom, 3-bathroom configuration is a significant advantage, likely providing dual primary suites and a guest powder room, which is rare for this square footage.
At $248 per month, the association fee is relatively low for a gated Tempe community, enhancing the property's affordability and monthly cash flow potential.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =684, other record lot size in square feet = 1949.
With 1,100 square feet distributed over a townhouse layout, the living spaces may feel narrow or restrictive compared to single-level condos of similar size.
The Villagio development is known for its high density, which can result in limited guest parking and less privacy between neighboring units.
Tempe is waiting for you at this 2-bedroom townhome. Inside, guests find two master bedrooms and three bathrooms, perfect for a roommate or small family. This is a charming home close to Tempe Marketplace, Mesa Riverview, and ASU. Professional and soon-to-be professionals will love the atmosphere and the 2-car garage.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 75% |
| Square foot | 1,100 | 1,188 | 38% |
| Lot Size | 684 | 988 | 50% |
| Price | $349.9K | $327.4K | 50% |
| Price per sq ft | $318 | $306 | 63% |
| Built year | 2007 | 1984 | 75% |
| HOA | $248 | $278 | 50% |
| Days on market | 25 | 470 | 13% |
May 12, 2026
$349,900
Initial Listing