346 E BROADWAY Lane, Tempe, AZ 85282, Tempe, 85282 - 3 bed, 2 bath
Loading property details...
Tempe, AZ 85282
This Turnkey Income Asset is listed at $635,000, positioned as a premium high-yield property near Arizona State University. While the list price exceeds the $545,529 Fair Market Value, the valuation is justified by a Condition Rating of 2 and an exceptional 8.25% cap rate. The home features a modernized kitchen, luxury vinyl plank flooring, and a rare 5-room configuration currently generating $4,750 monthly income. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a polished, high-demand residence in a prime Tempe location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 346 E BROADWAY Lane Subject | $625,000* List Price | 3 | 2 | 1,650 | $327 | - |
A 1102 E REDONDO Circle Sold | $495,000 | 3 | 2 | 1,521 | $325 | 0.6 mi |
B 2139 S LA ROSA Drive Sold | $478,000 | 3 | 2 | 1,563 | $306 | 0.3 mi |
C 720 E BROADWAY Lane Pending | $499,900 List Price | 3 | 2 | 1,596 | $313 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1959, the property has undergone an extensive renovation within the last 5 years. The interior features a modern kitchen with white shaker cabinets, stone countertops, and stainless steel appliances. The flooring has been updated with luxury vinyl plank and new carpeting, and the bathrooms, light fixtures, and windows have been modernized to current quality standards, leaving no deferred maintenance.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8494, living area = 1650.
Situated within walking distance of Arizona State University and near major freeways, this property is perfectly positioned for high rental demand and long-term appreciation.
The home features comprehensive renovations less than five years old, including updated flooring, kitchen, and bathrooms, minimizing immediate capital expenditure for a new owner.
Built in 1959, the property may have aging underlying systems such as plumbing or electrical that could require maintenance despite the recent cosmetic and interior updates.
The property is tenant-occupied until the end of July, which may be a deterrent for owner-occupants requiring immediate possession or those with specific move-in timelines.
Beautifully remodeled gem of a home with 3 bedrooms, 2 bathrooms, and 2 den/flex rooms! This home has been recently remodeled and updated to an incredible modern standard with everything from flooring to kitchen and baths being less than 5 years old! Being situated in such a prime location near major freeways, and within walking distance of ASU is a dream come true for students and rental investors alike. This home is occupied by wonderful tenants at $4475/m until the end of July 2027, so you are given a great option if you'd like to continue renting out this spectacular home as an income property at a cap rate over 8% for the next year as well or take over occupancy yourself right in time for the school year to begin! Either way, we know you'll love this gem of a home!
No exterior & parking available.
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 | 1,650 | 1,656 | 50% |
| Lot Size | 8,494 | 8,357 | 65% |
| Price | $625.0K | $185.8K | 88% |
| Price per sq ft | $379 | $112 | 94% |
| Built year | 1959 | 1970 | 10% |
| HOA | $0 | $0 | 50% |
| Days on market | 193 | 2446 | 2% |
May 27, 2026
$625,000
$635,000
-2% Price Drop
Initial Listing
Nov 26, 2025
$635,000
Initial Listing