515 E VISTA DEL CERRO Drive, Tempe, AZ 85281, Tempe, 85281 - 4 bed, 3 bath
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Tempe, AZ 85281
This Single Family Residence is a High-Potential Investment Opportunity, listed at $699,000—positioned well above the $531,545 Fair Market Value by -31%. While the list price exceeds current market estimates, the property features a Condition Rating of 3, boasting a Modernized Granite Kitchen and significant capital improvements like a newer roof and HVAC. Its prime location near ASU and major freeways provides strong rental demand. This property is best suited for Buy-and-Hold Investors or Owner-Occupants prioritizing a move-in ready home in a central Tempe neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 515 E VISTA DEL CERRO Drive Subject | $699,000* List Price | 4 | 3 | 1,600 | $332 | - |
A 518 W 19TH Street Active | $575,000 List Price | 4 | 3 | 1,764 | $326 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1957, the property has undergone a significant renovation featuring a modern kitchen with granite countertops and white cabinetry, consistent tile flooring, and updated lighting. The listing confirms newer critical systems including the roof, HVAC, and water heater, making it move-in ready and well-maintained.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7101, living area = 1600.
Situated in a highly desirable Tempe neighborhood, this property offers exceptional proximity to Arizona State University, major freeways, and diverse dining options, making it ideal for both homeowners and rental investors.
The home features a newer roof, HVAC system, and water heater, providing peace of mind and reducing immediate maintenance costs for the buyer in this 1957-built residence.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1600, other record living area = 1338. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Built in 1957, the property may have inherent limitations typical of its age, such as smaller secondary bedrooms or older plumbing and electrical systems not fully addressed by cosmetic updates.
The assigned high school carries a lower rating (3/10), which may be a concern for families prioritizing top-tier public education and could impact long-term resale value to that specific demographic.
Welcome to this stunning single-story home w/ a fantastic location close to schools, shopping, freeways, and dining! Inside, you'll find sizable living spaces ready to bring you joy, w/ tile flooring, contemporary lighting, and a soothing palette that creates a warm ambiance throughout, making every space perfect for entertaining and relaxation. The kitchen displays crisp white cabinetry, tile backsplash, granite counters, and built-in appliances for a seamless cooking experience. Get a good night's sleep in the main retreat, offering a private bathroom for added comfort. The backyard hosts an extended covered patio where you can unwind after a long day, and plenty of seating space with pavers. Newer roof, HVAC, water heater +more. What are you waiting for? Come see before it's too late!
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades 6-8 • 1.7 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 57% |
| Baths | 3.0 | 2.0 | 87% |
| Square foot | 1,600 | 1,550 | 61% |
| Lot Size | 7,101 | 6,765 | 57% |
| Price | $699.0K | $0 | 96% |
| Price per sq ft | $437 | $0 | 96% |
| Built year | 1957 | 1958 | 48% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 2174 | 4% |
May 23, 2026
$699,000
Initial Listing