510 W University Drive 208, Tempe, AZ 85281, Tempe, 85281 - 3 bed, 2 bath
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Tempe, AZ 85281
This townhouse presents a High-Potential Investment Opportunity with a List Price of $329,900—positioned above the $314,628 Fair Market Value by 4%. While the property requires a strategic approach due to its Fair Condition Rating and compact 1,081 sqft footprint, its prime location near ASU and Mill Avenue ensures consistent rental demand. Recent capital improvements, including a new water heater and fresh paint, provide a functional baseline. This asset is best suited for Buy-and-Hold Investors or first-time buyers seeking an entry-level property in a high-traffic university district.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 510 W University Drive 208 Subject | $329,900* List Price | 3 | 2 | 1,081 | $291 | - |
A 1111 W UNIVERSITY Drive 1016 Active | $349,000 List Price | 1 | 2 | 1,137 | $307 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 2003 (23 years old), the property falls into the 'Fair' category as it exceeds the 20-year mark without a full renovation. While it features recent maintenance like fresh paint, a new water heater, and partial new flooring, the kitchen and bathrooms remain dated with original cabinetry and finishes from the time of construction.
Situated within walking distance to ASU and Mill Avenue, this property offers exceptional access to dining, shopping, and campus life, making it highly attractive for students and investors.
The unit features fresh interior paint, a brand-new water heater, and partial new flooring, providing a move-in-ready experience and reducing immediate maintenance costs.
Residents benefit from a community pool and a unique second-floor floor plan that includes a private balcony, enhancing the overall lifestyle value of the townhouse.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1081, other record living area = 864.
The assigned middle and high schools have lower performance ratings (3/10), which may be a significant drawback for families with school-aged children.
With three bedrooms squeezed into 1,081 square feet, the living spaces and bedrooms may feel undersized for buyers seeking more spacious accommodations.
Beautiful 3 bedroom 2 full bath townhouse in Tempe close to ASU! Freshly painted, new water heater, partial new flooring. Community Pool, Raised panel cabinets and a breakfast bar. Walk to Resturants ,close to shopping shops on Mill Ave. This is one of a kind floor plan on the 2nd floor with balcony.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades 6-8 • 0.7 mi
Grades 9-12 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.5 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,081 | 1,155.5 | 50% |
| Lot Size | 94 | 1,373 | 13% |
| Price | $329.9K | $67.5K | 88% |
| Price per sq ft | $305 | $78 | 88% |
| Built year | 2003 | 1993 | 63% |
| HOA | $223 | $196 | 63% |
| Days on market | 22 | 2627 | 13% |
May 15, 2026
$329,900
Initial Listing