517 S ROCK HARBOR Drive, Gilbert, AZ 85233, Gilbert, 85233 - 5 bed, 3 bath
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Gilbert, AZ 85233
This Turnkey Single-Family Residence is a Prime Investment Opportunity, listed at $849,000—positioned well below the $869,875 Fair Market Value by 2%. This valuation gap offers $20,875 in Instant Equity. Featuring an Excellent Condition Rating following a 2026 renovation, the home includes a private casita, custom kitchen, and a backyard pool. Located in the Islands community, it offers a premium lifestyle for Buy-and-Hold Investors or Owner-Occupants seeking a modern, move-in ready property with multi-generational living potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 517 S ROCK HARBOR Drive Subject | $849,000* List Price | 5 | 3 | 2,857 | $304 | - |
A 1031 S CAPISTRANO Drive Sold | $680,000 | 4 | 3 | 2,507 | $271 | 0.7 mi |
B 1012 W CALYPSO Court Sold | $925,000 List Price | 4 | 4 | 3,911 | 0.3 mi | |
C 920 W GRAND CAYMEN Drive Sold | $716,500 | 5 | 3 | 2,597 | $276 | 0.6 mi |
D 1224 W SHERRI Drive Sold | $760,000 List Price | 4 | 3 | 2,856 | 0.8 mi | |
E 1517 W REDONDO Drive Sold | $633,000 | 3 | 2 | 1,998 | $317 | 0.6 mi |
F 437 S PORT Drive Sold | $735,000 | 4 | 2 | 2,414 | $304 | 0.4 mi |
G 1157 W MESQUITE Street Sold | $647,000 | 3 | 2 | 2,198 | $294 | 0.3 mi |
H 1449 W BOA VISTA Drive Pending | $749,000 List Price | 5 | 3 | 2,878 | $260 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent a comprehensive renovation in 2026, including a new roof, custom modern kitchen and bathrooms, new flooring, and updated fixtures. Despite the 1994 build date, the recent high-end updates and mint condition place it in the excellent category.
The property features a rare attached casita with a private entrance and kitchenette, offering exceptional versatility for guests, extended family, or a home office.
Extensively renovated in 2026, the home boasts a new roof, custom kitchen and bathrooms, and updated fixtures throughout, providing a turn-key experience for the buyer.
Located in the prestigious Islands community of Gilbert, the home offers a premium lifestyle with access to waterways and a private backyard pool perfect for entertaining.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2857, other record living area = 2713. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
The assigned public schools for this location have moderate ratings ranging from 4 to 6, which may be a drawback for families prioritizing top-tier educational districts.
The $401 association fee adds a notable recurring expense to the property's carrying costs compared to other residential areas in Gilbert.
Gorgeous home in prime location in Gilbert. Nestled in the Islands community surrounded by waterways and palms. 5bedroom 3bath house with one of the rooms being an attached casita w/ small kitchen area and separate private exit. Upgrades throughout. Custom bathrooms and kitchen. New appliances & fixtures, new flooring, fresh paint, new countertops and cabinets, etc. New roof as of 2026. Great backyard for entertaining or leisure with pool and patio. Close to shopping, entertainment, schools, etc. Don't miss it!
No exterior & parking available.
Grades PK-6 • 0.5 mi
Grades PK-6 • 1.0 mi
Grades 6-8 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,857 | - |
| Lot Size | 9,161 | - |
| Price | $849.0K | $554.5K |
| Price per sq ft | $297 | $287 |
| Built year | 1994 | 0 |
| HOA | $401 | $0 |
| Days on market | 19 | 2717 |
Jul 3, 2026
$849,000
Initial Listing