409 E PEGASUS Drive, Tempe, AZ 85283, Tempe, 85283 - 4 bed, 2 bath
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Tempe, AZ 85283
This Updated Single-Family Residence represents a Strong Value Opportunity, listed at $499,000—positioned well below the $519,524 Fair Market Value by 3%. This valuation gap offers $20,524 in Instant Equity for incoming buyers. Maintaining a Condition Rating of 3, the property features high-value upgrades including owned Tesla solar panels, a private pool, and a new roof scheduled for 2026. Located in a prime Tempe hub near Trader Joe's, it perfectly balances financial upside with lifestyle utility. This is an ideal match for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 409 E PEGASUS Drive Subject | $494,000* List Price | 4 | 2 | 1,388 | $349 | - |
A 228 E Fordham Circle Sold | $440,000 List Price | 3 | 2 | 1,379 | 0.7 mi | |
B 6818 S TERRACE Road Sold | $500,000 List Price | 3 | 2 | 1,508 | 0.6 mi | |
C 5632 S JOLLY ROGER Road Sold | $515,000 | 2 | 2 | 1,294 | $398 | 0.9 mi |
D 227 E AUBURN Drive Active | $497,000 List Price | 4 | 2 | 1,519 | $327 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features several significant upgrades, including a new roof (pending March 2026), owned Tesla solar panels, and updated bathrooms with modern large-format tiling and granite countertops. While the home was built in 1973, the main living areas have been updated with durable tile flooring and neutral paint. The bedrooms show some minor wear on the carpets, but the overall condition of the major systems and interior finishes meets the criteria for a well-maintained, functional home that does not require immediate renovation.
The property features owned Tesla solar panels and a new roof scheduled for March 2026, offering significant long-term utility savings and reducing immediate maintenance concerns for the buyer.
The inclusion of a private swimming pool is a high-demand feature in the Arizona market, providing both lifestyle benefits and a competitive edge for future resale.
Situated in a highly convenient Tempe neighborhood, the home offers excellent proximity to major retail hubs like Trader Joe's and Chandler Mall, along with easy freeway access.
At 1,388 square feet for a four-bedroom configuration, the floor plan may feel cramped, with individual bedroom sizes likely being smaller than modern standards.
Built in 1973, the home may require additional updates to its original systems or interior finishes to meet the expectations of buyers looking for a fully modernized residence.
Virtually Staged. Beautiful 4-bedroom home in a prime Tempe location featuring OWNED Tesla Solar Panels, a PRIVATE POOL, and a new roof was installed on May 1st, 2026! Bright, open layout with a functional floor plan ideal for everyday living and entertaining. Enjoy indoor-outdoor living with a private backyard perfect for relaxing or hosting. Garage includes a Tesla/EV charging station for added convenience. Conveniently located near Trader Joe's, fitness centers, shopping, dining, and easy freeway access. Major upgrades already in progress--this home is a must-see.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,388 | 1,971 | 19% |
| Lot Size | 6,826 | 7,871 | 23% |
| Price | $494.0K | $360.0K | 62% |
| Price per sq ft | $356 | $247 | 85% |
| Built year | 1973 | 1978 | 34% |
| HOA | $0 | $0 | 50% |
| Days on market | 95 | 2341 | 2% |
May 3, 2026
$494,000
$499,000
-1% Price Drop
Initial Listing
Mar 3, 2026
$499,000
Initial Listing