425 W RIO SALADO Parkway 112, Tempe, AZ 85281, Tempe, 85281 - 2 bed, 2 bath
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Tempe, AZ 85281
This Renovated Lakeside Condominium is listed at $514,900, reflecting a stable valuation for its premium location relative to the $473,096 Fair Market Value. Featuring a Condition Rating of 3, the home is entirely move-in ready with a modernized quartz kitchen, luxury vinyl plank flooring, and remodeled bathrooms. The unique 200-square-foot basement flex space and attached garage offer functional depth rarely seen in the subdivision. With stunning views of Tempe Town Lake and immediate proximity to ASU and Scales Technology Academy, this residence balances high-end finishes with a prime location. It is a perfect fit for Owner-Occupants or urban professionals.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 425 W RIO SALADO Parkway 112 Subject | $499,900* List Price | 2 | 2 | 904 | $510 | - |
A 435 W RIO SALADO Parkway 305 Active | $445,000 List Price | 2 | 2 | 1,082 | $411 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and features significant recent updates, including a modernized kitchen with quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. Although built in 2002, the interior has been extensively refreshed with updated bathrooms, paint, and fixtures, meeting the criteria for a well-maintained home with modern functional systems.
Ideally situated across from Tempe Town Lake and near ASU, this ground-floor unit offers stunning mountain and lake views from two private covered patios.
The property is move-in ready with modern updates including quartz countertops, luxury vinyl plank flooring, plantation shutters, and remodeled bathrooms.
Features a rare attached direct-entry garage and an additional 200-square-foot basement flex space that is not included in the official tax assessor square footage.
The assigned middle and high schools carry lower performance ratings (3/10), which may impact long-term resale value for family-oriented buyers.
At 904 square feet of official living area, the primary floor plan is relatively compact, which may be a drawback for buyers seeking more spacious interiors.
Move in ready home with prime location and views. Recent updated kitchen, baths, quartz counters, stainless steel appliances, luxury vinyl plank, plantation shutters, paint and fixtures. Functional 2 bed/2 full bath floor plan has highly sought after attached direct entry garage with extra width for storage. Garage enters directly into a versatile basement flex space with laundry. Basement not included in Tax Assessor square footage and adds approx. 200 square feet to total area. Prime ground floor location with 2 private covered patios that offer stunning views of Tempe Town Lake and mountains. Gated resort-style community has clubhouse, pool/spa, grills and fitness center. Located across street from Tempe Town Lake and Beach and near ASU, Mill Ave, golf, airport, light rail.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades 6-8 • 1.1 mi
Grades 9-12 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 904 | 1,493 | 33% |
| Lot Size | 818 | 1,208 | 40% |
| Price | $499.9K | $0 | 80% |
| Price per sq ft | $553 | $0 | 93% |
| Built year | 2002 | 2002 | 50% |
| HOA | $400 | $375 | 53% |
| Days on market | 56 | 2907 | 7% |
Apr 19, 2026
$499,900
$514,900
-3% Price Drop
Initial Listing
Feb 25, 2026
$514,900
Initial Listing