703 E CARMEN Street, Tempe, AZ 85283, Tempe, 85283 - 3 bed, 2 bath
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703 E CARMEN Street
Tempe, AZ 85283
ACTIVE
CONDITION: GOOD
3Beds
2Baths
1,840Sq Ft
7,388Lot Size
Property Price
LIST PRICE$500,000
EST. MARKET VALUE
$510,932
SUMMARY
This Spacious Single Family Residence is a High-Potential Investment Opportunity, listed at $500,000—positioned well below the $510,933 Fair Market Value by 2%. This valuation gap offers $10,933 in Instant Equity for the buyer. Featuring a Condition Rating of 3, the home includes a Paid-off Solar System, a Deep Diving Pool, and a Backyard Workshop. Its central Tempe location near ASU and major freeways ensures strong demand. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking value.
Estimated Market Value
$510,932
Based on Realkey algorithm analyzing recent comparable sales in Tempe.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 703 E CARMEN Street Subject | $500,000* List Price | 3 | 2 | 1,840 | $278 | - |
A 1177 E REDFIELD Road Sold | $530,000 | 3 | 2 | 1,661 | $319 | 0.5 mi |
B 227 E AUBURN Drive Sold | $470,000 | 4 | 2 | 1,519 | $309 | 0.9 mi |
C 1139 E WATSON Drive Sold | $455,000 | 3 | 2 | 1,652 | $275 | 0.8 mi |
D 1509 E Bell De Mar Drive Sold | $455,000 | 4 | 2 | 1,940 | $235 | 0.9 mi |
E 6736 S STANLEY Place Sold | $460,000 | 3 | 2 | 1,396 | $330 | 0.5 mi |
F 1316 E WOODMAN Drive Sold | $540,000 | 4 | 2 | 2,056 | $263 | 0.7 mi |
G 5919 S JENTILLY Lane Sold | $565,000 | 4 | 2 | 1,968 | $287 | 0.6 mi |
H 1451 E CHILTON Drive Sold | $454,360 | 3 | 2 | 1,556 | $292 | 1.0 mi |
I 6603 S COLLEGE Avenue Active Under Contract | $545,000 List Price | 3 | 2 | 1,832 | $297 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1973, the property is 'semi-updated' with renovations likely performed within the last 5-15 years. The kitchen features stainless steel appliances and updated cabinetry, the bathroom has been modernized with granite countertops, and the main living areas feature contemporary epoxy flooring. The inclusion of a paid-off solar system and a well-maintained diving pool indicates a move-in ready home that has been cared for.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7388, living area = 1840.
- Prime Central Location
Situated in the heart of Tempe near ASU, Mill Avenue, and the US-60, offering unparalleled access to shopping, dining, and major employment hubs.
- Energy Efficiency
The property features fully paid-off solar panels, providing significant long-term savings on electricity costs in the desert climate.
CONSRISKS & DEFICIENCIES
- Dated Infrastructure
Built in 1973 and described as only 'semi-updated,' the home likely requires additional capital expenditure to modernize older systems and finishes.
- Market Positioning
A recent price reduction from $525,000 to $500,000 within the first 20 days suggests the property may have been initially overpriced relative to its current condition.
About 703 E CARMEN Street
Location Location Location!!!! Semi-udated 3 bedroom 2 bath in the heart of everything!!! Minutes from entertainment on Mill. shopping to the east and west and surrounded by excellent resturants. Deep sparkling diving pool. Paid off Solar. Close to ASU Near the 60 Freeway, not far from Sky Harbor Airport. This is a must see!!!! Plenty storage in the workshop ina nice secure backyard. Don't miss this one!!!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1973
- Lot Size
- 7,388 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,840 | 1,773.888 |
| Lot Size | 7,388 | 8,245.105 |
| Price | $500.0K | $529.7K |
| Price per sq ft | $272 | $314 |
| Built year | 1973 | 1972 |
| HOA | $0 | $292 |
| Days on market | 46 | 63 |
Pricing History
Listed for Sale
Aug 12, 2026
$500,000
$525,000
-5% Price Drop
Initial Listing
Price Change
Jul 25, 2026
$525,000
Initial Listing