4418 S RITA Lane, Tempe, AZ 85282, Tempe, 85282 - 5 bed, 2 bath
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Tempe, AZ 85282
This 5-bedroom Single Family Residence represents a High-Potential Investment Opportunity, listed at $615,000—positioned well below the $621,467 Fair Market Value by 1%. This valuation gap offers $6,467 in Instant Equity. With a Condition Rating of 3, the property features modern wood-look tile and a private pool on a large corner lot. Its proximity to ASU and flexible layout make it a prime asset for Buy-and-Hold Investors or Owner-Occupants seeking a high-demand rental location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4418 S RITA Lane Subject | $615,000* List Price | 5 | 2 | 2,324 | $267 | - |
A 3626 S NEWBERRY Road Sold | $449,750 List Price | 4 | 3 | 2,150 | 0.3 mi | |
B 506 E ELLIS Drive Sold | $675,000 | 4 | 2 | 2,274 | $297 | 0.6 mi |
C 429 E GREENWAY Drive Sold | $689,000 List Price | 6 | 2 | 2,790 | 0.6 mi | |
D 1237 E La Jolla Drive Sold | $505,000 List Price | 3 | 2 | 1,912 | 0.3 mi | |
E 4526 S Terrace Road Sold | $525,000 | 4 | 2 | 1,732 | $303 | 0.1 mi |
F 501 E HERMOSA Drive Sold | $539,000 List Price | 3 | 2 | 1,642 | 0.6 mi | |
G 3527 S OAK Street Pending | $525,000 List Price | 3 | 2 | 2,172 | $242 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1971, the property has undergone significant renovations likely within the 5-15 year range. Key updates include modern wood-look tile flooring, upgraded kitchen counters, and a fully remodeled bathroom with contemporary tile work and stone vanities. The home is well-maintained and move-in ready, though some dated elements like popcorn ceilings and older closet doors persist.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10916, living area = 2324.
With 5 bedrooms and proximity to ASU, this property is perfectly positioned for student housing or 'Padsplit' strategies, offering versatile short and long-term rental income options.
The expansive 10,916 sqft corner lot features a private pool, covered patio, and mature shade trees, providing a highly desirable outdoor living space for the Arizona climate.
The 5-bedroom layout is serviced by only 2 bathrooms, which may create logistical challenges for large families or high-occupancy rental scenarios.
Built in 1971, the property may require ongoing maintenance or updates to major systems like plumbing and electrical to meet modern efficiency and safety standards.
Tempe charm meets investor gold! This 5-bed, 2-bath corner-lot home with a POOL is perfect for families or a high-yield rental (ASU/PadSplit potential). Features a 21' cement pad for boat/RV parking, tile flooring, breakfast bar kitchen, and a large laundry room. Relax in the backyard oasis with a pebble-tech pool (remodeled 2021) and mature shade trees. Massive capital updates provide peace of mind: a complete electrical rewire + panel (2024), water heater (2026), roof (2020), dual-pane windows, LeafFilter gutters, and dual HVACs meticulously serviced by George Brazil. Plus, the washer, dryer, and fridge are included! Amazing location near top schools, dining, and ASU. Move-in or cash-flow ready!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 2,324 | - |
| Lot Size | 10,916 | - |
| Price | $615.0K | $562.2K |
| Price per sq ft | $265 | $326 |
| Built year | 1971 | 0 |
| HOA | $0 | $0 |
| Days on market | 34 | 2615 |
Jun 18, 2026
$615,000
Initial Listing