7880 S MICHELE Lane, Tempe, AZ 85284, Tempe, 85284 - 5 bed, 4 bath
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Tempe, AZ 85284
This Rare Basement Estate is a High-Potential Investment Opportunity, listed at $998,900—positioned well below the $1,313,315 Fair Market Value by 23%. This significant valuation gap provides $314,415 in Instant Equity. Boasting a Good Condition Rating, the home features a Gourmet Granite Kitchen, Plantation Shutters, and a Luxury Travertine Patio with a built-in BBQ. Located in the gated Alisanos community near C I Waggoner School, it offers a rare full basement for versatile living. This is an exceptional find for Owner-Occupants seeking upscale living or Buy-and-Hold Investors looking for a high-equity asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7880 S MICHELE Lane Subject | $998,900* List Price | 5 | 4 | 3,674 | $357 | - |
A 8015 S Michele Lane Sold | $775,000 | 4 | 4 | 3,438 | $225 | 0.2 mi |
B 7686 S Myrtle Avenue Sold | $950,000 List Price | 4 | 3 | 2,987 | 0.4 mi | |
C 640 E VINEDO Lane Sold | $1,199,000 | 4 | 3 | 3,754 | $319 | 0.7 mi |
D 437 W VERDE Lane Sold | $900,000 | 5 | 4 | 3,213 | $280 | 0.2 mi |
E 790 E SUNBURST Lane Sold | $955,000 | 3 | 4 | 2,942 | $325 | 0.7 mi |
F 8096 S STEPHANIE Lane Sold | $736,800 | 4 | 3 | 2,628 | $280 | 0.3 mi |
G 758 E SUNBURST Lane Active | $1,095,000 List Price | 5 | 4 | 3,316 | $330 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in ready condition and has been exceptionally well-maintained since its construction in 2000. The gourmet kitchen features high-end stainless steel appliances, granite countertops, and rich maple cabinetry that, while reflecting a slightly older style, remain in excellent functional condition. The bathrooms are updated with granite vanities and custom tile work. High-quality features such as plantation shutters, neutral tile flooring, and a professionally landscaped backyard with a travertine patio and built-in BBQ further justify a 'good' rating, as the home requires no immediate renovations.
This property features a highly sought-after full basement, a rare find in the Tempe market that provides significant additional square footage for a media room, home office, or guest quarters.
The backyard is professionally designed for Arizona entertaining, boasting an extended travertine patio, a built-in BBQ kitchen island with bar seating, and a custom gas fire pit.
Located in the exclusive Alisanos gated community, the home offers enhanced security and privacy, complemented by high-end interior finishes like plantation shutters and a gourmet granite kitchen.
While the elementary school is well-rated, the assigned middle and high schools have lower ratings (3 and 5 respectively), which may be a concern for families prioritizing top-tier education metrics.
Built in 2000, certain features such as the maple cabinetry and specific tile choices may feel dated to modern luxury buyers looking for contemporary or transitional design trends.
Luxury living awaits in this rare basement home located in the gated Alisanos community in Tempe. This beautifully maintained 5 bedroom, 3.5 bathroom estate with a three car garage offers a highly sought after full basement and an open design filled with natural light. Inside you will find gleaming tile floors and elegant plantation shutters on every window that add charm and style throughout the home. The main living space features a custom built in entertainment wall that creates the perfect place to relax or gather with family and friends. The gourmet kitchen is designed for both everyday living and entertaining with rich maple cabinetry, expansive granite countertops, a large center island, and high end wall oven. Enjoy quiet mornings in the cozy breakfast nook or host special dinners in the formal dining room. The massive basement adds incredible living space and includes a custom shelving and one guest bedroom an office space or additional bedroom, making it ideal for entertaining, movie nights, or hosting visitors. Upstairs the spacious primary suite feels like a private retreat with a spa style bathroom featuring a deep soaking tub, custom tiled walk in shower, dual vanities, and a large walk in closet. The beauty of the home continues outdoors where the backyard is designed for true Arizona living. Gather with friends and family on the extended travertine patio with a built in BBQ kitchen island and bar seating, then relax by the warm glow of the gas fire pit in the evening. Lush mature landscaping and a manicured turf area provide plenty of space to play, entertain, and enjoy the outdoors with low maintenance. This rare basement estate offers comfort, space, and upscale living in one of Tempe's most desirable gated communities.
No exterior & parking available.
Grades PK-5 • 1.2 mi
Grades 6-8 • 1.2 mi
Grades 9-12 • 3.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 81% |
| Baths | 4.0 | 3.0 | 84% |
| Square foot | 3,674 | 2,396.5 | 89% |
| Lot Size | 9,840 | 9,132.5 | 56% |
| Price | $998.9K | $405.0K | 86% |
| Price per sq ft | $272 | $212 | 58% |
| Built year | 2000 | 1988 | 92% |
| HOA | $598 | $200 | 84% |
| Days on market | 37 | 2802 | 2% |
Mar 16, 2026
$998,900
Initial Listing