704 S LEBANON Lane, Tempe, AZ 85288, Tempe, 85288 - 3 bed, 2 bath
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Tempe, AZ 85288
This Single-Level Townhome is a Strong Value Opportunity, listed at $280,000—positioned well below the $306,951 Fair Market Value by 8%. This valuation gap offers $26,951 in Instant Equity for the buyer. The property maintains a Condition Rating of 3, featuring a newer A/C and flooring, making it move-in ready with room for cosmetic updates. Its proximity to ASU and major employment hubs ensures high rental demand. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 704 S LEBANON Lane Subject | $280,000* List Price | 3 | 2 | 1,132 | $271 | - |
A 2612 E 10TH Street Sold | $215,000 | 3 | 2 | 1,130 | $190 | 0.4 mi |
B 552 S ALLRED Drive Sold | $302,500 | 2 | 2 | 987 | $306 | 0.2 mi |
C 552 S ALLRED Drive Sold | $302,500 | 2 | 2 | 987 | $306 | 0.2 mi |
D 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 move-in ready.
Built in 1979 but well-maintained and move-in ready. The property features a newer HVAC system and newer wood-look flooring throughout. While the kitchen and bathrooms are dated with laminate countertops and popcorn ceilings, the cabinets have been refreshed with paint and updated hardware, and the appliances are functional, fitting the 5-15 year renovation criteria.
Situated near ASU, Loop 101, and Tempe Marketplace, this property is perfectly positioned for high rental demand, student housing, or convenient urban living.
Priced significantly below market competitors for a quick sale, this townhome offers an immediate equity opportunity for investors or first-time homebuyers in a high-demand area.
The rare single-level corner unit features vaulted ceilings, newer flooring, and a newer A/C system, providing a modern feel and reduced immediate maintenance costs.
The $350 monthly HOA fee adds a significant recurring expense to the carrying costs, which may impact the overall affordability for budget-conscious buyers.
The property relies on assigned and guest parking rather than a private attached garage, which may be a drawback for residents seeking secure vehicle storage or additional workshop space.
Priced well below competing properties for a quick sale! Incredible opportunity to own a rare single-level corner townhome in one of Tempe's most convenient locations. Perfect for a second home, ASU housing, long-term rental, short-term rental, or investment property. This desirable 3-bed, 2-bath floorplan features vaulted ceilings, open-concept living and dining areas, and a bright kitchen with excellent natural light. Spacious primary suite includes a walk-in closet, private bath, and direct patio access. Two additional bedrooms provide flexibility for guests, office space, or roommates. Enjoy two private patios ideal for outdoor dining, pets, entertaining, or extra storage. Additional highlights include inside laundry, newer A/C, newer flooring, assigned parking, guest parking, and access to the community pool. Excellent access to Loop 101, ASU, Tempe Marketplace, Mesa Riverview, Sloan Park/Cubs Spring Training, shopping, dining, entertainment, and major employment centers. Opportunities at this price point in Tempe are becoming harder to find.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.5 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,132 | 1,215 | 17% |
| Lot Size | 120 | 1,506.5 | 33% |
| Price | $280.0K | $352.0K | 33% |
| Price per sq ft | $247 | $256 | 33% |
| Built year | 1979 | 1984 | 33% |
| HOA | $350 | $258 | 83% |
| Days on market | 27 | 479 | 17% |
May 19, 2026
$280,000
Initial Listing