5445 S LIGHTHOUSE Lane, Tempe, AZ 85283, Tempe, 85283 - 3 bed, 4 bath
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Tempe, AZ 85283
This Rare Waterfront Estate on "The Island" is listed at $1,050,000, representing a unique acquisition in a submarket where sales occur once a decade. The property features Expansive Lake Views and a Waterfront Lot, though it currently holds a Condition Rating of 4 due to its original 1974 finishes. While the price sits above the $938,807 Fair Market Value, the extreme scarcity and access to The Lakes Clubhouse amenities justify the premium. Near Fuller Elementary, this is an ideal project for Luxury Renovators or Visionary Homeowners.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5445 S LIGHTHOUSE Lane Subject | $989,000* List Price | 3 | 4 | 3,176 | $276 | - |
A 5802 S STANLEY Place Sold | $732,000 | 5 | 2 | 2,558 | $286 | 0.3 mi |
B 1017 E SANDPIPER Drive Pending | $1,095,000 List Price | 4 | 3 | 3,621 | $302 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974, the property is well-maintained but largely outdated. The kitchen features older cabinetry and fluorescent light boxes, while the bathrooms show some mid-life updates like glass block showers and newer vanities. The home is functional but requires significant cosmetic modernization to meet current luxury standards.
Situated on 'The Island,' this property offers a highly exclusive waterfront position where sales are extremely rare, with only three homes on this street sold in over two decades.
The home features expansive, elevated water views from nearly every room and includes a full-length covered balcony, maximizing the premium lakeside living experience.
Residents benefit from extensive clubhouse facilities, including a heated junior Olympic pool, fitness centers, and tennis and pickleball courts, fostering a resort-style lifestyle.
Built in 1974 and marketed with 'endless possibilities,' the home likely requires significant cosmetic or structural updates to align with modern luxury standards and maximize its investment value.
The layout places all bedrooms on the lower level while the main living areas are upstairs, which may be a drawback for buyers seeking single-level living or traditional accessibility.
Waterfront home on The Island - A Rare Opportunity (only 3 waterfront homes on Lighthouse Lane have sold in the last 20+ years). Expansive Lake Views from almost every room in this 3 Bed + den/3.5 Bath house with endless possibilities for a homeowner or investor - check out the comps! The main level features an elevated view of the lake and a full length covered balcony, a large living room with vaulted ceilings, kitchen, breakfast room, den and an oversized 3-car garage with plenty of storage and room for a workshop. Downstairs features all three bedroom suites, creating a private sleeping quarters floor separate from the main living areas! Be sure to check out all the amenities offered at the clubhouse which include a heated junior olympic pool, cardio/fitness rooms, tennis and pickleball courts, and much more! You'll Love Living in The Lakes!
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 1.2 mi
Grades 6-8 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 4.0 | 0.0 |
| Square foot | 3,176 | - |
| Lot Size | 10,764 | - |
| Price | $989.0K | $562.2K |
| Price per sq ft | $311 | $326 |
| Built year | 1974 | 0 |
| HOA | $405 | $0 |
| Days on market | 125 | 2615 |
Jun 20, 2026
$989,000
$999,000
-1% Price Drop
Initial Listing
Apr 26, 2026
$999,000
$1,050,000
-5% Price Drop
Initial Listing
Mar 19, 2026
$1,050,000
Initial Listing