2528 E Malibu Drive, Tempe, AZ 85282, Tempe, 85282 - 3 bed, 2 bath
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Tempe, AZ 85282
This Updated Move-In Ready Residence is a Strong Value Opportunity, listed at $475,000—positioned well below the $500,168 Fair Market Value by 5%. This valuation gap provides $25,168 in Instant Equity. Boasting an Excellent Condition Rating following extensive 2026 renovations, the home features a modernized quartz kitchen, updated bathrooms, and fresh paint. With no HOA restrictions and access to the top-rated Franklin Elementary School, it balances lifestyle convenience with financial upside. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors seeking a turnkey Tempe asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2528 E Malibu Drive Subject | $475,000* List Price | 3 | 2 | 1,512 | $331 | - |
A 2313 E EL PARQUE Drive Sold | $540,000 | 3 | 2 | 1,493 | $362 | 1.0 mi |
B 2327 E PEBBLE BEACH Drive Sold | $520,000 | 4 | 2 | 1,669 | $312 | 0.3 mi |
C 2236 S EVERGREEN Road Sold | $541,000 | 3 | 2 | 1,450 | $373 | 0.9 mi |
D 2912 S Price Road Sold | $371,600 | 3 | 2 | 1,476 | $252 | 0.6 mi |
E 3233 S Lebanon Lane Sold | $559,950 List Price | 3 | 2 | 1,626 | 0.2 mi | |
F 4038 S BIRCHETT Drive Active | $539,179 List Price | 3 | 2 | 1,538 | $351 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property is in excellent condition following extensive renovations completed in 2026. Key upgrades include a modernized kitchen with new quartz countertops and stainless steel appliances, fully updated bathrooms with new tile work and vanities, fresh interior and exterior paint, new flooring throughout, and updated recessed lighting and ceiling fans. The home is move-in ready with no deferred maintenance visible.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8407, living area = 1512.
Elementary School: Franklin Elementary School (9/10).
The home features significant 2026 renovations, including fresh interior and exterior paint, updated bathrooms with new tiling, and a modernized kitchen with quartz countertops, ensuring a move-in-ready experience for the buyer.
Despite the high-quality cosmetic updates, the 1981 construction year suggests that major systems like plumbing or electrical may be older and could require maintenance compared to newer builds.
While some nearby elementary schools are highly rated, the immediate assigned middle and high schools have lower ratings, which may be a concern for families prioritizing local public education.
Welcome to this beautifully updated 3-bedroom, 2-bath home in the heart of Tempe with no HOA! This move-in ready property showcases thoughtful upgrades throughout, including an updated primary & guest bath with a newly tiled shower, new vanity sinks, faucet, mirror & flooring**The kitchen has been refreshed with new quartz countertop, painted cabinets, updated hardware, sink & faucet, creating a clean and modern space perfect for cooking and entertaining**You'll also appreciate new recessed lighting in the kitchen and both baths adding a bright and inviting touch**Additional recent improvements include interior & exterior paint (2026) new baseboards (2026) new ceiling fans (2026) & new updated backyard gate**The functional floor plan provides comfortable living spaces filled with natural light--ideal for both relaxing and hosting. Located in desirable Tempe, close to shopping, dining, and convenient freeway access--all without the restrictions of an HOA. A fantastic opportunity to own an updated home in a prime location--don't miss it!
No exterior & parking available.
Grades PK-6 • 0.6 mi
Grades K-6 • 3.4 mi
Grades K-6 • 5.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,512 | 1,737 | 22% |
| Lot Size | 8,407 | 8,357 | 56% |
| Price | $475.0K | $404.5K | 59% |
| Price per sq ft | $314 | $251 | 80% |
| Built year | 1981 | 1969 | 95% |
| HOA | $0 | $0 | 50% |
| Days on market | 19 | 2155 | 1% |
Apr 3, 2026
$475,000
Initial Listing