495 W FABENS Lane, Gilbert, AZ 85233, Gilbert, 85233 - 4 bed, 2 bath
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Gilbert, AZ 85233
This Spacious Single-Level Residence is a Strong Value Opportunity, listed at $490,000—positioned well below the $529,504 Fair Market Value by 7%. This valuation gap provides $39,504 in Instant Equity. Maintaining a Condition Rating of 4, the home features a newer AC, fresh interior paint, and a private covered patio. Located minutes from vibrant downtown Gilbert and near Mesquite Jr High, it balances immediate move-in comfort with appreciation potential via cosmetic updates. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 495 W FABENS Lane Subject | $490,000* List Price | 4 | 2 | 2,056 | $258 | - |
A 568 S GOLDEN KEY Street Sold | $480,000 List Price | 4 | 3 | 2,018 | 0.8 mi | |
B 638 W Sierra Madre Avenue Sold | $540,000 | 3 | 2 | 2,058 | $262 | 0.3 mi |
C 201 W SMOKE TREE Road Sold | $430,000 | 4 | 2 | 2,014 | $214 | 0.7 mi |
D 590 S NEELY Street Sold | $539,000 | 4 | 2 | 2,123 | $254 | 0.8 mi |
E 928 W JUNIPER Avenue Sold | $443,000 | 4 | 2 | 2,214 | $200 | 0.8 mi |
F 604 W ORCHARD Way Sold | $485,000 | 4 | 2 | 1,717 | $282 | 0.2 mi |
G 851 W PALO VERDE Street Active | $544,500 List Price | 4 | 2 | 1,908 | $285 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1999, the property is well-maintained and move-in ready with recent cosmetic touches like fresh interior paint and new carpeting. However, the kitchen and bathrooms remain largely original with dated oak cabinetry, older white appliances, and 12x12 ceramic tile, fitting the criteria for a 25-year-old home that has not undergone major structural or stylistic renovations.
Situated just minutes from vibrant downtown Gilbert, the property offers exceptional access to high-end dining, nightlife, and local entertainment hubs.
The inclusion of a newer AC unit and fresh interior paint provides significant value and peace of mind regarding immediate maintenance costs in the Arizona climate.
The spacious 2,056 sqft floor plan features a desirable open kitchen with an island and a large primary suite, perfect for comfortable modern living.
The interior finishes are largely original to its 1999 build, requiring a renovation budget for kitchen and bathroom upgrades to reach peak market value.
The fourth bedroom lacks a closet and currently functions as a den, which may impact its utility for some buyers and its classification in appraisal valuations.
Single-level showstopper with fresh interior paint and serious ''you belong here'' vibes. Four bedrooms (one playing double agent as a den) if it had a closet, two baths, and a great room with gas fireplace perfect for ''just one more episode'' nights. Open kitchen with island and breakfast bar is move-in ready but clearly auditioning for your HGTV upgrades. Huge primary suite with walk-in closet, newer AC, and a backyard with grass, citrus trees, and covered patio ideal for grilling and string lights. The best part? You're just minutes from vibrant downtown Gilbert--restaurants, coffee, nightlife, and weekend fun are basically your new neighbors.
No exterior & parking available.
Grades PK-6 • 1.3 mi
Grades 6-8 • 0.6 mi
Grades 8-12 • 1.6 mi
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 | 2,056 | 1,963 | 57% |
| Lot Size | 6,719 | 7,141.5 | 44% |
| Price | $490.0K | $446.0K | 59% |
| Price per sq ft | $238 | $233 | 51% |
| Built year | 1999 | 1994 | 90% |
| HOA | $330 | $102 | 92% |
| Days on market | 34 | 2273 | 1% |
Mar 19, 2026
$490,000
Initial Listing