577 W MAGDALENA Drive, Tempe, AZ 85283, Tempe, 85283 - 3 bed, 2 bath
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Tempe, AZ 85283
This Single-Family Residence is a Prime Investment Opportunity with a List Price of $379,900—positioned well below the $390,406 Fair Market Value by 2%. This valuation gap offers $10,506 in Instant Equity. While the property has a Condition Rating of 4, its large 8,695 sqft lot, Arizona room, and No HOA status provide significant value-add potential. Located near Wood Elementary and Marcos De Niza High School, this home balances lifestyle with financial upside. It is perfectly suited for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 577 W MAGDALENA Drive Subject | $379,900* List Price | 3 | 2 | 1,238 | $315 | - |
A 834 W JULIE Drive Sold | $430,000 | 3 | 2 | 1,416 | $304 | 0.2 mi |
B 834 W JULIE Drive Sold | $430,000 | 3 | 2 | 1,416 | $304 | 0.2 mi |
C 228 E Fordham Circle Sold | $440,000 List Price | 3 | 2 | 1,379 | 0.9 mi | |
D 31 W DUKE Drive Sold | $425,000 List Price | 3 | 2 | 1,644 | 0.7 mi | |
E 1118 W TULANE Drive Active | $415,900 List Price | 3 | 2 | 1,125 | $370 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980, this property is in functional and livable condition but is significantly outdated. The interior features popcorn ceilings, older light fixtures, and a 1980s-style brick fireplace. While the flooring has been updated to tile in some areas and the home appears well-maintained, the kitchen and bathrooms lack modern renovations. The listing's mention of 'tons of potential' and the overall aesthetic indicate that while major systems appear operational, the home requires cosmetic updates and modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8695, living area = 1238.
The absence of a Homeowners Association offers residents greater freedom with their property and eliminates monthly dues, significantly increasing long-term affordability.
Ideally situated in Tempe with immediate access to major freeways, shopping centers, and schools, including Wood Elementary which is less than a quarter-mile away.
Built in 1980 and marketed as having 'tons of potential,' the home likely requires significant cosmetic or structural updates to meet contemporary buyer expectations.
With only 1,238 square feet for a three-bedroom layout, the interior living spaces and bedrooms may feel constrained compared to modern residential standards.
3 bedroom, 2 bathroom Tempe home with tons of potential! Nice open floorplan, fireplace, Arizona room, and a large back yard. Conveniently located to freeways, shopping, and schools. NO HOA!
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades 6-8 • 2.0 mi
Grades 9-12 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,238 | 2,044 | 10% |
| Lot Size | 8,695 | 8,032 | 63% |
| Price | $379.9K | $360.0K | 51% |
| Price per sq ft | $307 | $254 | 80% |
| Built year | 1980 | 1978 | 59% |
| HOA | $0 | $0 | 50% |
| Days on market | 61 | 2104 | 1% |
Feb 20, 2026
$379,900
Initial Listing