3648 E CODY Avenue, Gilbert, AZ 85234, Gilbert, 85234 - 4 bed, 3 bath
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Gilbert, AZ 85234
This Updated Suburban Residence is a High-Potential Investment Opportunity with a List Price of $565,000—positioned well below the $692,138 Fair Market Value by 18%. This significant valuation gap secures $127,138 in Instant Equity for the incoming buyer. Maintaining a Condition Score of 3, the home features a Pebble Tech Pool, new HVAC units, and a remodeled primary suite. Located walking distance to the 8/10 rated Carol Rae Ranch Elementary, this property delivers lifestyle luxury with massive financial upside. It is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3648 E CODY Avenue Subject | $565,000* List Price | 4 | 3 | 2,301 | $301 | - |
A 3657 E SAN PEDRO Avenue Sold | $575,000 List Price | 4 | 2 | 1,884 | 0.1 mi | |
B 4131 E STANFORD Avenue Sold | $560,000 | 4 | 3 | 2,321 | $241 | 0.7 mi |
C 4131 E STANFORD Avenue Sold | $560,000 | 4 | 3 | 2,321 | $241 | 0.7 mi |
D 3535 E TERRACE Avenue Sold | $580,000 | 4 | 3 | 2,623 | $221 | 0.6 mi |
E 1150 N WADE Drive Active Under Contract | $719,000 List Price | 4 | 3 | 2,622 | $274 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained with several key updates that elevate it above the 'fair' category despite its 1998 build date. Notable improvements include a fully remodeled primary bathroom with modern subway tile and a new glass shower, updated kitchen appliances, and upgraded wood-look flooring throughout the main living areas. Additionally, major systems have been addressed with HVAC units less than six years old and a brand-new water heater, indicating minimal deferred maintenance.
The backyard features a pebble tech pool with a water feature, offering a premium space for outdoor entertainment and relaxation in the Arizona climate.
The property includes significant mechanical updates, including two HVAC units under six years old and a brand new water heater, providing peace of mind and reduced immediate maintenance costs.
Vaulted ceilings combined with upgraded flooring and a fully remodeled primary bathroom create a contemporary and spacious feel throughout the home.
Constructed in 1998, the home may still possess some original architectural elements or aging infrastructure typical of its era that could require future attention.
The requirement of a mandatory association fee adds to the monthly carrying costs, which may be a consideration for budget-conscious buyers.
Welcome to 3648 E Cody Ave. This updated 4-bedroom, 2.5-bath home offers 2,301 sq. ft. in Carole Rae Ranch! Vaulted ceilings and upgraded flooring create an open and comfortable main living space. The kitchen includes updated appliances and a functional layout for everyday use. The primary suite features a remodeled bathroom with a new shower and tub. Major updates include a brand new water heater and two HVAC units under six years old. The backyard offers a pebble tech pool with a water feature, perfect for enjoying Arizona outdoor living. Conveniently located near schools, shopping, and dining. Owner is a licensed real estate agent in Arizona.
No exterior & parking available.
Grades PK-6 • 0.2 mi
Grades 7-8 • 1.7 mi
Grades 8-12 • 0.9 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 | 2,301 | 2,074 | 66% |
| Lot Size | 7,022 | 6,939 | 53% |
| Price | $565.0K | $479.0K | 72% |
| Price per sq ft | $246 | $256 | 50% |
| Built year | 1998 | 1994 | 70% |
| HOA | $153 | $80 | 74% |
| Days on market | 33 | 2339 | 1% |
Mar 20, 2026
$565,000
Initial Listing