3847 S MILL Avenue, Tempe, AZ 85282, Tempe, 85282 - 2 bed, 2 bath
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Tempe, AZ 85282
This Turnkey Townhouse represents a High-Potential Investment Opportunity, listed at $299,999—positioned slightly above the $290,087 Fair Market Value. Despite the premium, the property offers a Mint Condition Rating with a complete modern remodel, including new LVP flooring and contemporary finishes. With no rental restrictions and explicit Airbnb/VRBO approval, this asset is optimized for high-yield short-term rental strategies near Arizona State University. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a low-maintenance, move-in ready lifestyle in a high-demand Tempe location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3847 S MILL Avenue Subject | $299,995* List Price | 2 | 2 | 1,119 | $263 | - |
A 3815 S MILL Avenue Pending | $365,000 List Price | 4 | 3 | 1,536 | $238 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property has undergone a complete modern remodel as evidenced by the new LVP flooring, recessed lighting, updated black hardware/doors, and contemporary bathroom vanities. Although built in 1964, the interior finishes and fixtures appear to be within the <5-year renovation window, meeting the criteria for mint condition and move-in readiness.
Ideally situated minutes from Arizona State University and Sky Harbor Airport, offering high demand for students, professionals, and travelers.
With no rental restrictions and explicit Airbnb/VRBO approval, this property offers exceptional flexibility for high-yield short-term or long-term rental strategies.
The unit has been completely remodeled, providing a modern aesthetic and immediate move-in readiness that eliminates the need for post-purchase renovation capital.
Originally built in 1964, the property may have underlying structural or utility components that are dated despite the modern cosmetic interior updates.
The $329 monthly association fee represents a significant fixed expense that impacts monthly affordability and net cash flow for investors.
Completely remodeled 2-bedroom, 2-bath townhome in the heart of Tempe offering the perfect blend of style, convenience, and investment potential! And brand new A/C Unit! Ideally located just minutes from Arizona State University, Phoenix Sky Harbor International Airport, and all the dining, shopping, entertainment, and nightlife that make Tempe one of the Valley's most desirable locations. Enjoy low-maintenance living with a private outdoor patio featuring a spacious storage shed, plus two assigned covered parking spaces. Community amenities are just steps away, while major freeways provide easy access throughout the Valley. With no rental restrictions and Airbnb/VRBO approval, this property is an incredible opportunity for investors, short-term rental owners, students, professionals, or anyone seeking a lock-an-leave lifestyle. Whether you're looking for an investment or your next home sweet home, this Tempe gem checks every box!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 25% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,119 | 1,204 | 17% |
| Lot Size | 130 | 2,065 | 33% |
| Price | $300.0K | $325.0K | 42% |
| Price per sq ft | $268 | $235 | 58% |
| Built year | 1964 | 1974 | 8% |
| HOA | $329 | $180 | 92% |
| Days on market | 26 | 2661 | 8% |
Jun 7, 2026
$299,995
$299,999
+0% Price Increase
Initial Listing
May 18, 2026
$299,999
Initial Listing