422 W HORSESHOE Avenue, Gilbert, AZ 85233, Gilbert, 85233 - 3 bed, 2 bath
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Gilbert, AZ 85233
This Charming Single-Family Residence is a High-Potential Investment Opportunity, listed at $499,900—positioned well above the $434,377 Fair Market Value by -15%. While priced at a premium, the property offers a Good Condition Rating and unique utility through its Detached Casita and No HOA status. Located minutes from Downtown Gilbert, the home features a Spacious Covered Patio and an Oversized Two-Car Garage. This property is an ideal acquisition for Buy-and-Hold Investors seeking rental flexibility or Owner-Occupants prioritizing a vibrant, walkable lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 422 W HORSESHOE Avenue Subject | $499,900* List Price | 3 | 2 | 1,230 | $353 | - |
A 568 W RAWHIDE Avenue Sold | $554,900 List Price | 3 | 2 | 1,616 | 0.3 mi | |
B 501 W SERENO Drive Sold | $469,000 | 3 | 2 | 1,424 | $329 | 0.5 mi |
C 113 W CULLUMBER Avenue Sold | $414,200 | 3 | 2 | 1,251 | $331 | 0.6 mi |
D 501 W SERENO Drive Sold | $469,000 | 3 | 2 | 1,424 | $329 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1976, the property is well-maintained and move-in ready with significant updates. The listing and images confirm updated bathrooms with modern touches, stainless steel appliances, recessed lighting, and updated flooring, fitting the 5-15 year renovation profile for a 'Good' rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7196, living area = 1230.
Situated just minutes from Downtown Gilbert, the property offers exceptional access to popular dining, entertainment, and nightlife in a highly sought-after, vibrant neighborhood.
The inclusion of a detached casita provides rare flexibility for a home office, guest suite, or creative studio, significantly increasing the property's overall utility and appeal.
With only 1,230 square feet of living space in the main home, the interior may feel compact for larger families or those accustomed to more expansive modern floor plans.
The assigned elementary, middle, and high schools all carry a rating of 4, which may be a drawback for education-focused buyers looking for top-tier school districts.
Tucked away in one of the most desirable areas near Downtown Gilbert, this charming and eclectic property is truly unlike anything else on the market. Full of personality, warmth, and character, this beautifully maintained home offers 3 bedrooms, 2 updated bathrooms, plus a detached casita that provides endless flexibility for guests, a home office, workout space, or creative studio. From the moment you arrive, you can feel the unique charm and inviting atmosphere that makes this property so special. Inside, you will find tasteful updates blended perfectly with the home's original character. The updated bathrooms feature modern touches while still keeping the cozy and welcoming feel of the home. Every room offers its own charm with stylish details, warm finishes, and comfortable living spaces throughout. Natural light pours into the home creating a bright and inviting environment that feels both relaxing and functional. The outdoor space is equally impressive and designed for both entertaining and everyday enjoyment. The colorful and very private backyard feels like your own hidden retreat with mature landscaping, vibrant touches throughout, and a spacious covered patio perfect for relaxing mornings, outdoor dining, or hosting family and friends. The oversized patio provides plenty of shade and usable outdoor living space year-round. One of the rarest features for a home in the Downtown Gilbert area is the attached two-car garage, offering valuable parking and storage space that is hard to come by in this location. The property also includes an RV gate for additional flexibility along with the added bonus of no HOA, giving homeowners more freedom and convenience. Located just minutes from all the restaurants, coffee shops, nightlife, and entertainment that Downtown Gilbert is known for, this home offers the perfect combination of charm, location, privacy, and functionality. Whether you are looking for a primary residence full of character, a multi-functional property with extra space, or simply a rare opportunity close to Downtown Gilbert, this home is truly one of a kind.
No exterior & parking available.
Grades PK-6 • 0.4 mi
Grades 6-8 • 0.3 mi
Grades 8-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 44% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,230 | 1,922.5 | 2% |
| Lot Size | 7,196 | 7,258.5 | 49% |
| Price | $499.9K | $0 | 61% |
| Price per sq ft | $406 | $0 | 98% |
| Built year | 1976 | 1994 | 2% |
| HOA | $0 | $98 | 7% |
| Days on market | 24 | 2509 | 1% |
May 21, 2026
$499,900
Initial Listing