3500 E PENEDES Drive, Gilbert, AZ 85298, Gilbert, 85298 - 4 bed, 5 bath
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Gilbert, AZ 85298
This Modern Luxury Turnkey Residence is a Prime Investment Opportunity listed at $824,900—positioned well below the $844,924 Fair Market Value by 2%. This valuation gap provides $20,024 in Instant Equity for the buyer. Boasting an Excellent Condition Rating, the 2016-built home features a premium outdoor oasis with a newly updated pool and a rare 5-bathroom layout. Located near top-rated Gilbert schools, this move-in-ready sanctuary is an elite acquisition for Growing Families or Owner-Occupants seeking a high-end lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3500 E PENEDES Drive Subject | $779,000* List Price | 4 | 5 | 2,921 | $284 | - |
A 5283 S JOSHUA TREE Lane Sold | $885,000 | 4 | 3 | 3,010 | $294 | 0.8 mi |
B 3929 E PEARTREE Lane Sold | $569,900 List Price | 4 | 3 | 2,626 | 1.0 mi | |
C 3728 E NARROWLEAF Drive Sold | $760,000 | 3 | 3 | 2,941 | $258 | 0.4 mi |
D 6219 S BANNING Street Sold | $675,000 | 5 | 3 | 2,446 | $276 | 0.9 mi |
E 5285 S LOBACK Lane Pending | $835,000 List Price | 4 | 3 | 2,912 | $287 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Built in 2016, this 10-year-old home meets the top-tier criteria with a modern open-concept layout, a high-end kitchen featuring granite and stainless steel, and a newly updated pool and backyard. The property is in mint, move-in-ready condition with no visible maintenance needs.
The property features a fully upgraded backyard with a newly updated pool and professional low-maintenance turf, offering a move-in-ready luxury space for Arizona outdoor living.
Built in 2016, the home boasts a contemporary floor plan with a large great room and seamless flow between the kitchen and dining areas, ideal for modern entertaining.
With 5 bathrooms serving 4 bedrooms, the home provides an exceptional level of privacy and convenience that is rare for properties under 3,000 square feet.
The $345 association fee adds a significant recurring monthly or quarterly cost, which may be a deterrent for budget-conscious buyers compared to nearby communities.
At a list price of $824,900 for 2,921 square feet, the property sits in a highly competitive price bracket where buyers often expect larger lot sizes or more square footage.
Welcome to 3500 E Penedes Drive, located in the highly desirable community of Marbella Vineyards in Gilbert. This beautifully maintained home offers a spacious and functional open-concept layout, perfect for modern living and effortless entertaining. The heart of the home features a large great room that flows seamlessly into the kitchen and dining areas, creating an inviting space for gathering with family and friends. The kitchen is designed with both style and functionality in mind, offering ample cabinetry, generous counter space, and a layout that keeps you connected to the main living areas. Step outside to your fully upgraded backyard oasis, where no detail has been overlooked. Enjoy a newly updated pool, expansive low-maintenance turf, and plenty of room for outdoor seating, and entertaining. This private outdoor space is ideal for Arizona living year-round. The home offers generously sized bedrooms, a well-designed floor plan, and an abundance of natural light throughout. Whether you're looking for space to grow, entertain, or simply relax, this home delivers. Located in Marbella Vineyards, residents enjoy tree-lined streets, parks, and a strong sense of community, all while being just minutes from top-rated schools, shopping, dining, and easy freeway access. This is a move-in-ready opportunity in one of Gilbert's most sought-after neighborhoods--don't miss it.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 5.0 | 3.0 | 93% |
| Square foot | 2,921 | 2,380 | 72% |
| Lot Size | 9,900 | 8,750 | 64% |
| Price | $779.0K | $507.5K | 79% |
| Price per sq ft | $267 | $252 | 55% |
| Built year | 2016 | 2007 | 83% |
| HOA | $345 | $215 | 63% |
| Days on market | 42 | 2607 | 1% |
May 31, 2026
$779,000
$799,000
-3% Price Drop
Initial Listing
May 10, 2026
$799,000
$824,900
-3% Price Drop
Initial Listing
Apr 27, 2026
$824,900
Initial Listing