408 N FALCON Court, Gilbert, AZ 85234, Gilbert, 85234 - 4 bed, 2 bath
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Gilbert, AZ 85234
This Spacious Value-Add Residence is a High-Potential Investment Opportunity, with a List Price of $550,000—positioned well below the $742,193 Fair Market Value by 25%. This significant valuation gap provides $192,193 in Instant Equity. While maintaining a Fair Condition Rating with original 1997 finishes, the home features a private pool, newer roof, and updated windows. Located in a quiet cul-de-sac near Highland High School, it offers immense upside through cosmetic modernization. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking rapid wealth accumulation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 408 N FALCON Court Subject | $550,000* List Price | 4 | 2 | 2,939 | $253 | - |
A 4166 E PAGE Avenue Sold | $580,000 | 4 | 3 | 2,829 | $205 | 0.3 mi |
B 4151 E CAMPBELL Avenue Sold | $685,000 | 5 | 3 | 3,700 | $185 | 0.3 mi |
C 4045 E LAUREL Avenue Sold | $600,000 | 5 | 3 | 3,705 | $162 | 0.3 mi |
D 4219 E SAN REMO Avenue Sold | $605,000 | 5 | 3 | 2,521 | $240 | 0.8 mi |
E 4131 E STANFORD Avenue Sold | $560,000 | 4 | 3 | 2,321 | $241 | 0.7 mi |
F 4131 E STANFORD Avenue Sold | $560,000 | 4 | 3 | 2,321 | $241 | 0.7 mi |
G 721 N PHEASANT Drive Pending | $705,000 List Price | 5 | 3 | 3,115 | $226 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is well-maintained and move-in ready, but the interior finishes are largely original to its 1997 construction. While major systems like the roof, windows, and pool have been updated, the kitchen and bathrooms feature dated cabinetry, older black appliances, and basic tile/carpet flooring. It fits the 'fair' criteria as a 27-year-old home that is functional but requires cosmetic modernization to meet current aesthetic standards.
The property features significant high-ticket updates including a newer roof, updated windows, and a recently resurfaced pool interior, offering immediate value and peace of mind.
At nearly 3,000 square feet, the home offers a desirable split floor plan and a large bonus room that provides flexibility for a home office, gym, or media center.
Tucked away in a quiet cul-de-sac within the sought-after Highland Ranch community, the home benefits from reduced traffic and a more private, family-friendly setting.
With a 1997 build date and carpet in the living areas, the home likely requires cosmetic modernization of flooring and fixtures to meet current luxury standards.
The combination of a private pool and a $185 association fee increases the recurring monthly maintenance and utility expenses for the homeowner.
Desirable Highland Ranch community, tucked away in a quiet cul-de-sac! Step inside to discover bright, airy living spaces featuring vaulted ceilings, abundant natural light, and a neutral color palette. The home combines comfort and practicality with soft carpet in living areas and durable tile in high-traffic zones. The thoughtfully designed split floor plan provides added privacy, a charming bay window, ample closet space, and an ensuite bathroom complete with dual sinks, a separate shower, and a soaking tub. A versatile bonus room offers endless possibilities, perfect for a game room, home office, gym, or creative space to suit your needs. Major updates include a newer roof, replaced pool interior, and updated windows, giving you peace of mind and added value.
No exterior & parking available.
Grades PK-6 • 1.0 mi
Grades PK-6 • 1.1 mi
Grades 7-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 49% |
| Square foot | 2,939 | 2,039 | 84% |
| Lot Size | 7,619 | 6,913 | 63% |
| Price | $550.0K | $479.0K | 67% |
| Price per sq ft | $187 | $256 | 36% |
| Built year | 1997 | 1994 | 66% |
| HOA | $185 | $75 | 87% |
| Days on market | 52 | 2339 | 1% |
Mar 1, 2026
$550,000
Initial Listing