618 S ALLRED Drive, Tempe, AZ 85288, Tempe, 85288 - 2 bed, 2 bath
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Tempe, AZ 85288
This University Shadows Townhouse represents a High-Potential Investment Opportunity with a List Price of $240,000—positioned well below the $445,805 Fair Market Value by 46%. This significant valuation gap provides $205,805 in Instant Equity for buyers ready to modernize the interior. While currently holding a Fair Condition Rating, the property features exposed beams, skylights, and a private patio near ASU. This high-demand asset is an exceptional acquisition for Fix-and-Flip Investors or Buy-and-Hold Investors seeking forced appreciation in a prime Tempe location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 618 S ALLRED Drive Subject | $240,000* List Price | 2 | 2 | 987 | $242 | - |
A 552 S ALLRED Drive Sold | $302,500 | 2 | 2 | 987 | $306 | 0.0 mi |
B 2612 E 10TH Street Sold | $215,000 | 3 | 2 | 1,130 | $190 | 0.4 mi |
C 651 S ALLRED Drive Pending | $310,000 List Price | 3 | 2 | 1,132 | $274 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1981, this property is well-maintained but shows clear signs of its age. While it features updated wood-look flooring and some modern elements like a slate-tiled shower, the kitchen and bathroom vanities appear to be original dark wood cabinetry. The presence of popcorn ceilings and older light fixtures further indicates that the home has not undergone a full recent renovation, placing it firmly in the 'fair' category as a functional but dated residence.
Situated in the sought-after University Shadows community, this property offers exceptional proximity to ASU, shopping, dining, and major freeway access, making it a high-demand area for both residents and investors.
The interior features unique design elements including exposed beams, skylights, and wood-look flooring, providing a modern and bright aesthetic that stands out from standard townhouse layouts.
Residents have access to a robust suite of amenities including a pool, spa, tennis courts, and a clubhouse, offering a resort-style lifestyle that adds significant value to the property.
The association fee of $375 per month is relatively high for a sub-1,000 square foot unit, which may impact the overall affordability and monthly budget for some buyers.
At 987 square feet, the living space is quite compact, which may be a drawback for those requiring more storage, a dedicated home office, or larger common areas.
Charming patio home in the sought-after University Shadows community in Tempe. This 2-bedroom, 2-bath residence offers comfortable single-level living with an inviting open layout and plenty of natural light throughout. The spacious living area features beautiful wood-look flooring and exposed beams. The kitchen is both stylish and functional, featuring skylights and ample storage, while the dining area provides the perfect spot for everyday meals or hosting friends. The primary suite offers a peaceful retreat with its own bathroom and direct access to the patio. Enjoy outdoor living on the private patio and take advantage of the fantastic community amenities including a pool, spa, tennis courts, and clubhouse. Ideally located near shopping, dining, freeway access, and all that Tempe has to offer, this home is perfect for a primary residence, seasonal retreat, or investment opportunity!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 987 | 1,215 | 17% |
| Lot Size | 104 | 1,506.5 | 33% |
| Price | $240.0K | $352.0K | 33% |
| Price per sq ft | $243 | $256 | 33% |
| Built year | 1981 | 1984 | 33% |
| HOA | $375 | $258 | 83% |
| Days on market | 99 | 477 | 17% |
Mar 6, 2026
$240,000
Initial Listing