2520 E WINCHESTER Drive, Gilbert, AZ 85297, Gilbert, 85297 - 5 bed, 5 bath
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Gilbert, AZ 85297
This Custom Acreage Estate is a High-Potential Investment Opportunity, listed at $1,595,000—positioned well below the $1,811,371 Fair Market Value by 11%. This valuation gap offers $216,371 in Instant Equity for buyers. Maintaining a Good Condition Rating, the 5,000-square-foot home features a custom kitchen, basement theater, and a resort-style backyard with a pool, spa, and mountain views. Set on a one-acre lot with horse privileges, it balances luxury with utility. This is an ideal opportunity for Owner-Occupants or Luxury Lifestyle Buyers seeking land and value.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2520 E WINCHESTER Drive Subject | $1,495,000* List Price | 5 | 5 | 5,081 | $344 | - |
A 4509 S BANNING Drive Sold | $1,940,000 | 5 | 5 | 5,283 | $367 | 0.7 mi |
B 4509 S BANNING Drive Sold | $1,940,000 | 5 | 5 | 5,283 | $367 | 0.7 mi |
C 4675 S BANNING Drive Sold | $1,349,900 | 4 | 5 | 3,602 | $375 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1996, this custom estate is well-maintained and move-in ready. The property features a custom kitchen with high-end finishes and thoughtfully upgraded bathrooms that elevate it above the 'fair' category. The exterior and resort-style backyard, including the pool, outdoor kitchen, and pavers, show minimal wear and tear. While the architectural style reflects its 1990s origin, the extensive upgrades and high-quality materials used throughout the 5,000-square-foot living space meet the criteria for a 'good' condition rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 43560, living area = 5081.
The property sits on a rare full-acre lot in Gilbert with horse privileges and flood irrigation, offering exceptional space and flexibility for equestrian use or outdoor expansion.
Spanning over 5,000 square feet, the home includes a full basement with a dedicated theater room, providing ample space for multi-generational living or high-end entertainment.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =43560, other record lot size in square feet = 47175.
Built in 1996, the property may require upcoming capital expenditures for major systems like the roof or HVAC units if they have not been recently replaced.
The expansive one-acre lot and flood irrigation system demand significant ongoing upkeep and management compared to smaller, low-maintenance residential properties.
HUGE PRICE IMPROVEMENT!!! This custom estate sits on a full acre with horse privileges and flood irrigation, offering rare space, flexibility, and long-term value. Spanning approximately 5,000 square feet, the home features a full basement, including a dedicated theater room--perfect for entertainment or multi-generational living. Inside, vaulted tongue-and-groove ceilings create warmth and architectural character. The custom kitchen is designed for both function and style, with high-end finishes, ample cabinetry, and generous prep space. Bathrooms are thoughtfully upgraded with quality materials and craftsmanship. Outdoors, the expansive lot provides room for equestrian use, RV parking, additional structures, or a private resort-style backyard. With irrigation rights, maintaining lush landscaping or a personal orchard is both practical and cost-effective. This property combines luxury, land, and lifestyle--ideal for buyers seeking a custom home, horse property, acreage, and basement living in Gilbert, Arizona.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 78% |
| Baths | 5.0 | 3.0 | 93% |
| Square foot | 5,081 | 2,360 | 96% |
| Lot Size | 43,560 | 7,635.5 | 96% |
| Price | $1.50M | $0 | 96% |
| Price per sq ft | $294 | $0 | 86% |
| Built year | 1996 | 2004 | 4% |
| HOA | $0 | $180 | 4% |
| Days on market | 66 | 2613 | 1% |
May 17, 2026
$1,495,000
$1,595,000
-6% Price Drop
Initial Listing
Apr 3, 2026
$1,595,000
Initial Listing