3941 S MILL Avenue, Tempe, AZ 85282, Tempe, 85282 - 4 bed, 3 bath
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Tempe, AZ 85282
This 4-bedroom townhome represents a High-Potential Investment Opportunity, listed at $340,000—positioned well below the $403,719 Fair Market Value by 15%. This valuation gap provides $63,719 in Instant Equity. With a Condition Rating of 3, the property features a newer roof, A/C, and water heater, alongside a modernized kitchen. Its proximity to ASU ensures strong rental demand, making this an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a move-in ready, low-maintenance asset in a prime location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3941 S MILL Avenue Subject | $340,000* List Price | 4 | 3 | 1,536 | $263 | - |
A 3411 S WILSON Street Sold | $425,000 | 3 | 2 | 1,501 | $283 | 0.5 mi |
B 14 E HERMOSA Drive Active | $343,750 List Price | 4 | 3 | 1,408 | $244 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1964, the property has undergone significant renovations within the 5-15 year range. The kitchen features updated shaker cabinetry and stainless appliances, and the home boasts a newer roof, HVAC system, and water heater. The interior is move-in ready with updated tile and vinyl flooring.
Securing a 4-bedroom property under $350,000 in a prime Tempe location near ASU is a rare opportunity, offering high rental demand and strong appreciation potential.
The property features a newer roof, A/C unit, and water heater, providing the buyer with significant peace of mind and reducing the risk of immediate capital expenditures.
With updated shaker-style cabinetry, stainless steel appliances, and a complete lack of carpet, the home offers a contemporary, low-maintenance aesthetic that is move-in ready.
Originally built in 1964, the structure may have aged infrastructure or utility systems common in older developments that could require ongoing monitoring or future repairs.
The $274 monthly association fee adds to the total carrying cost and subjects the owner to community regulations and potential future assessment increases.
Minutes from Arizona State University and the Mill Avenue district. Finding a 4-bedroom under $350K in TEMPE location is rare! This 2-story townhome offers 1,536 sq ft with 4 bedrooms and 2.5 bathrooms, NEWER ROOF, NEWER A/C, and NEW WATER HEATER. All the major components have been handled, that's real peace of mind from day one. Inside you will get a move-in ready feel with tile in the main living areas and vinyl flooring throughout the bedrooms--no carpet anywhere. Updated shaker-style white cabinetry, stainless steel appliances, and a modern backsplash give the kitchen a fresh, finished look. Ceiling fans in every room add comfort throughout. Whether you're buying to live in or invest, the flexibility is there. Currently tenant-occupied on a month-to-month lease, with tenants open to staying. If you've been waiting for the right Tempe opportunity at the right price--this is one you don't sit on.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 94% |
| Baths | 3.0 | 2.0 | 69% |
| Square foot | 1,536 | 1,513 | 63% |
| Lot Size | 1,685 | 2,522 | 25% |
| Price | $340.0K | $337.4K | 50% |
| Price per sq ft | $221 | $239 | 38% |
| Built year | 1964 | 1972 | 6% |
| HOA | $274 | $166 | 94% |
| Days on market | 39 | 2222 | 6% |
Apr 29, 2026
$340,000
Initial Listing