2929 W New River Road, New River, AZ 85087, New River, 85087 - 3 bed, 3 bath
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New River, AZ 85087
This Versatile Residential Property is a High-Potential Investment Opportunity, listed at $820,000—positioned above the $744,942 Fair Market Value. While priced at a premium, the property features a fully equipped detached workshop and a spacious 1-acre lot with unobstructed mountain views. With a Fair Condition Rating, the home offers significant utility for hobbyists or those seeking multigenerational living through its flexible floor plan. This unique asset is best suited for Hobbyist Homeowners or Owner-Occupants who value functional workspace and privacy over immediate equity gains.
Property is moderate renovation needed.
Built in 2003, the property is approximately 21-23 years old, placing it in the 'Fair' category. While the home is described as well-maintained and appears move-in ready, the interior finishes—specifically the bathroom cabinetry and lighting—are original and dated. At this age, major systems like HVAC and the roof are likely nearing the end of their typical functional lifespan and may require updates soon.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 45738, living area = 2416.
The property features a fully equipped, climate-controlled detached workshop with its own bathroom and included tools, offering significant value for hobbyists or potential conversion into a guest suite.
With a secondary en-suite bedroom and a separate-entry flex room, the interior layout is perfectly designed for guests, a home office, or multigenerational living arrangements.
The specialized nature of the workshop and included tools may appeal to a specific buyer segment, potentially narrowing the pool of interested parties who value these specific additions.
The list price of $820,000 reflects the value of the unique outbuildings and equipment, which may be challenging to justify for buyers not specifically seeking a turnkey workshop setup.
Calling all woodworkers, makers, and hobby enthusiasts -- this is the setup you've been waiting for! This well-maintained 3 bedroom, 3 bathroom home includes a fully equipped detached workshop with its own bathroom, and AC. Best of all, the tools are included, making this a turnkey opportunity for your next project. The versatile workshop also offers potential to be converted into a guest house, or mother-in-law suite. Inside the home, you'll find a dedicated office space, a separate-entry flex room, and a secondary en-suite bedroom ideal for guests or multigenerational living. Step outside to the back patio and enjoy the beautiful mountain views -- the perfect place to relax and unwind. This unique property offers flexibility, functionality, and endless possibilities. Welcome Home!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 47% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,416 | 2,505.5 | 45% |
| Lot Size | 45,738 | 17,248 | 72% |
| Price | $810.0K | $580.0K | 86% |
| Price per sq ft | $335 | $242 | 80% |
| Built year | 2003 | 2007 | 24% |
| HOA | $0 | $52 | 48% |
| Days on market | 25 | 635 | 1% |
Jun 5, 2026
$810,000
$820,000
-1% Price Drop
Initial Listing
May 20, 2026
$820,000
Initial Listing
Aug 25, 2000
$35,000
Public Record