2799 E Terrace Avenue, Gilbert, AZ 85234, Gilbert, 85234 - 3 bed, 2 bath
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Gilbert, AZ 85234
This Spacious Traditional Home is a High-Potential Investment Opportunity, listed at $440,000—positioned well below the $452,227 Fair Market Value by 2%. This valuation gap offers $12,227 in Instant Equity for the buyer. Featuring a Condition Rating of 4, the home includes a newer roof and appliances, while the vaulted ceilings and private patio enhance its appeal. Located near Pioneer Elementary, this property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a stable, well-located asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2799 E Terrace Avenue Subject | $429,000* List Price | 3 | 2 | 1,204 | $372 | - |
A 3126 E DESERT Lane Pending | $440,000 List Price | 3 | 2 | 1,358 | $324 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1998 (28 years old), the property exceeds the 20-year threshold for 'Good' condition. While it features a newer roof and appliances, the overall age and likely original 1990s finishes in the kitchen and bathrooms suggest the home is dated and requires minor updates to meet modern standards.
The property features a newer roof and updated appliances, offering significant value and reducing the immediate need for major maintenance expenditures for the new owner.
Vaulted ceilings and large neutral tile throughout the main living areas create an open, airy atmosphere that makes the 1,204 square foot layout feel more expansive.
Located in the desirable Tone Estates of Gilbert, the home is within walking distance to Pioneer Elementary and benefits from proximity to highly-rated junior high and high schools.
At 1,204 square feet, the home is relatively compact for a three-bedroom residence, which may be a constraint for growing families or those requiring large common areas.
While the roof and appliances are newer, the 1998 construction suggests that original systems like the HVAC or windows may be nearing the end of their typical functional lifespan.
Welcome to this lovely 3 bedroom 2 bathroom home. The vaulted ceilings, large neutral tile through main living area and eat in kitchen make this the perfect layout for entertaining and comfortable living. This home has newer appliances and roof.
No exterior & parking available.
Grades PK-8 • 0.4 mi
Grades 7-8 • 2.9 mi
Grades 8-12 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,204 | - |
| Lot Size | 5,506 | - |
| Price | $429.0K | $554.5K |
| Price per sq ft | $356 | $287 |
| Built year | 1998 | 0 |
| HOA | $195 | $0 |
| Days on market | 35 | 2717 |
Jul 10, 2026
$429,000
$440,000
-2% Price Drop
Initial Listing
Jun 18, 2026
$440,000
Initial Listing