3118 S Colonial Street, Gilbert, AZ 85295, Gilbert, 85295 - 4 bed, 3 bath
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Gilbert, AZ 85295
This Spacious Modern Residence is a Strong Value Opportunity, listed at $769,900—positioned well below the $832,667 Fair Market Value by 7%. This valuation gap offers $62,767 in Instant Equity for buyers. Maintaining a Condition Rating of 3, the home features new wood laminate flooring, fresh paint, and a 3-car garage. The premium oversized lot provides rare privacy with no rear neighbors and unobstructed Arizona sunset views. Located near SanTan Village and Spectrum Elementary, this property balances lifestyle luxury with significant financial upside. It is ideal for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3118 S Colonial Street Subject | $769,900* List Price | 4 | 3 | 2,855 | $292 | - |
A 244 E JOSEPH Way Sold | $870,000 | 5 | 3 | 3,040 | $286 | 0.8 mi |
B 586 E Julian Drive Sold | $784,000 | 5 | 3 | 2,979 | $263 | 0.3 mi |
C 909 E BRIDGEPORT Parkway Sold | $867,000 | 4 | 3 | 3,275 | $265 | 0.5 mi |
D 331 E PHELPS Street Sold | $808,000 | 5 | 3 | 3,479 | $232 | 0.7 mi |
E 1039 E Clifton Avenue Sold | $850,000 | 4 | 3 | 2,859 | $297 | 0.9 mi |
F 1039 E CLIFTON Avenue Sold | $850,000 | 4 | 3 | 2,826 | $301 | 0.9 mi |
G 1250 E Canyon Creek Drive Active | $775,000 List Price | 4 | 3 | 3,022 | $256 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition and benefits from significant recent cosmetic updates, including new wood laminate flooring throughout the main areas, new tile in the bathrooms, and fresh interior paint. Built in 2004, the home is 20 years old, placing it at the threshold of the 'good' category. While the kitchen cabinetry and bathroom vanities appear original, they are well-maintained, and the kitchen has been updated with a modern mosaic tile backsplash and stainless steel appliances. The exterior and landscaping are in excellent shape, showing no signs of deferred maintenance.
The property is situated on an oversized lot with no neighbors directly behind, offering rare privacy and unobstructed views of the Arizona sunsets.
The home features significant recent improvements, including new wood laminate flooring, updated tile in wet areas, and fresh interior paint, providing a modern, move-in-ready feel.
The spacious 2,855 sqft layout includes a desirable split floor plan with 4 bedrooms plus a large den and a 3-car garage, perfectly balancing communal living and private retreats.
With a build date of 2004, original high-ticket items such as the HVAC units and roof may be approaching the end of their typical functional lifespan, potentially requiring future capital investment.
While the local schools are conveniently located, their current ratings (ranging from 6 to 7) may be a consideration for families specifically targeting the highest-ranked districts in Gilbert.
Beautifully maintained 4-bedroom + large den home with a 3-car garage and a desirable split floor plan designed for both comfort and privacy. The home features new wood laminate flooring throughout the main living areas, along with new tile in all bathroom floors and the laundry room. Fresh interior paint in the main living spaces creates a bright, updated feel the moment you walk in. Enjoy the peaceful backyard with no neighbors behind, offering stunning Arizona sunset views and added privacy. The backyard also features pavers for extended outdoor living, perfect for relaxing evenings or entertaining guests. Conveniently located near the freeway, shopping mall, restaurants and biking and walking paths near by for an active lifestyle.
No exterior & parking available.
Grades PK-6 • 0.7 mi
Grades 7-8 • 1.3 mi
Grades 8-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,855 | 2,136 | 75% |
| Lot Size | 10,937 | 7,500 | 83% |
| Price | $769.9K | $410.0K | 91% |
| Price per sq ft | $270 | $214 | 70% |
| Built year | 2004 | 2004 | 50% |
| HOA | $246 | $125 | 86% |
| Days on market | 40 | 2472 | 1% |
Mar 13, 2026
$769,900
Initial Listing