2693 E OAKLEAF Drive, Tempe, AZ 85288, Tempe, 85288 - 2 bed, 1 bath
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Tempe, AZ 85288
This property presents a High-Potential Investment Opportunity with a List Price of $190,000—positioned well below the $199,309 Fair Market Value by 4%. This valuation gap offers $9,309 in Instant Equity for buyers. With a Condition Rating of 4, the home is move-in ready but offers significant upside through cosmetic flooring upgrades. Its proximity to Arizona State University ensures consistent rental demand, making this a stable asset for Buy-and-Hold Investors or first-time buyers seeking an affordable entry into the Tempe market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2693 E OAKLEAF Drive Subject | $190,000* List Price | 2 | 1 | 780 | $256 | - |
A 618 S ALLRED Drive Sold | $230,000 | 2 | 2 | 987 | $233 | 0.3 mi |
B 2662 E OAKLEAF Drive Active | $205,000 List Price | 2 | 1 | 951 | $216 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1973, this property is functional and move-in ready but significantly dated. The kitchen features older oak cabinetry and laminate countertops, and the bathroom fixtures are basic and aging. While the HVAC system is approximately 10 years old, the interior finishes likely exceed 20 years in age, and the listing itself suggests new flooring is needed to elevate the value.
Situated near Arizona State University and major commuter routes, this property offers high rental demand and a proven track record as a successful income-producing asset.
Priced competitively at $190,000, the home provides an immediate opportunity for equity growth through simple cosmetic upgrades like modern flooring.
The efficient floor plan maximizes the 780 square feet with no wasted space, complemented by the rare inclusion of a private storage unit and assigned covered parking.
The property relies on community laundry facilities located in the parking area, which may be a drawback for owner-occupants or tenants seeking maximum convenience.
Built in 1973 with an A/C unit approximately 10 years old, the property may require near-term capital expenditures for mechanical maintenance or system replacements.
Excellent opportunity for investors or owner-occupants! This move-in ready home has been a successful income-producing rental property for years. The efficient floor plan offers a spacious living area with no wasted space, and all basic kitchen appliances are included. Add new flooring to easily elevate the home's style and value with a more luxurious feel. The A/C is approximately 10 years old and was professionally serviced in June 2026. Community laundry is conveniently located in the parking area. The property includes one assigned covered parking space (#J3) with a private storage unit. Located in a quiet neighborhood close to shopping, dining, Arizona State University, and major commuter routes, this property offers convenience, comfort, and excellent investment potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 0.0 |
| Baths | 1.0 | 0.0 |
| Square foot | 780 | - |
| Lot Size | 96 | - |
| Price | $190.0K | $315.5K |
| Price per sq ft | $244 | $270 |
| Built year | 1973 | 0 |
| HOA | $242 | $0 |
| Days on market | 3 | 2203 |
Jul 19, 2026
$190,000
Initial Listing