2401 E RIO SALADO Parkway 1152, Tempe, AZ 85288, Tempe, 85288 - 3 bed, 3 bath
Loading property details...
Tempe, AZ 85288
This 3-bedroom Townhouse represents a Prime Investment Opportunity, listed at $425,000—positioned well below the $437,400 Fair Market Value by 2%. This valuation gap provides $12,400 in Instant Equity. Featuring a Good Condition Rating, the home includes modern Granite Countertops and an optimized floorplan. Its strategic location near ASU and major freeways ensures high rental demand. This property is an ideal acquisition for Buy-and-Hold Investors seeking stable cash flow or Owner-Occupants prioritizing a move-in ready, low-maintenance lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2401 E RIO SALADO Parkway 1152 Subject | $425,000* List Price | 3 | 3 | 1,399 | $313 | - |
A 280 S EVERGREEN Road 1350 Active | $460,000 List Price | 3 | 3 | 1,380 | $333 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2007 (19 years old), this property falls within the 10-20 year range for 'Good' condition. The listing and images show a well-maintained, move-in ready home with functional upgrades including granite countertops, updated lighting, and upgraded flooring.
Situated in the heart of Tempe near ASU, Tempe Marketplace, and major freeways, this property offers exceptional convenience and high rental demand potential.
The unique layout opens directly into the living area rather than a staircase, creating a more welcoming and functional flow compared to standard units in the community.
Featuring granite countertops, upgraded flooring, and updated cabinetry, the home presents a contemporary aesthetic that reduces the need for immediate renovations.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =1380, other record lot size in square feet = 684. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1399, other record living area = 1100.
At 1,399 square feet for a three-bedroom home, the individual room sizes and living areas may feel somewhat constrained for larger households.
The prime location near the front gate and resort-style pool may result in increased foot traffic and noise levels during peak community hours.
Prime location within the community near the front gate and resort-style main pool. This highly desirable 3-bedroom floorplan welcomes you directly into the living room creating a more open and functional feel, unlike many layouts that open to the staircase. The home features upgraded flooring, granite countertops, updated lighting, cabinetry, and includes washer and dryer. The main level offers a convenient half bath for guests, while the second floor includes three bedrooms and two full bathrooms. Enjoy a private backyard and an attached two car garage. Ideally situated in the heart of Tempe with easy access to Loop 101 & 202, ASU, Tempe Marketplace, Mesa Riverview, Light Rail, and Sun Devil Stadium. Pet-friendly community.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 63% |
| Baths | 3.0 | 2.0 | 75% |
| Square foot | 1,399 | 1,215 | 75% |
| Lot Size | 1,380 | 1,336 | 50% |
| Price | $425.0K | $352.0K | 63% |
| Price per sq ft | $304 | $305 | 50% |
| Built year | 2007 | 1984 | 75% |
| HOA | $248 | $278 | 50% |
| Days on market | 30 | 470 | 13% |
May 7, 2026
$425,000
Initial Listing