800 W 12TH Street, Tempe, AZ 85281, Tempe, 85281 - 5 bed, 2 bath
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Tempe, AZ 85281
This property presents a High-Potential Investment Opportunity with a List Price of $549,000—positioned well above the $508,842 Fair Market Value by -7%. Featuring a 5-bedroom, 2-bath layout with central HVAC and mini-split units, this asset is optimized for high-demand student housing near ASU. With a Condition Rating of 5, the home requires modernization to maximize rental yields. This is a strategic acquisition for Buy-and-Hold Investors or Value-Add Developers targeting the Tempe rental market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 800 W 12TH Street Subject | $549,000* List Price | 5 | 2 | 2,080 | $245 | - |
A 1245 W 9th Street Sold | $480,000 | 3 | 2 | 1,501 | $320 | 0.6 mi |
B 1245 W 11TH Street Sold | $480,000 | 4 | 2 | 1,503 | $319 | 0.5 mi |
C 1621 S MARILYN ANN Drive Active | $569,900 List Price | 3 | 2 | 2,010 | $284 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1951 and marketed as an 'Investor Special,' this property is over 70 years old and requires significant rehabilitation to meet modern standards. While it features some cosmetic updates like fresh paint and laminate flooring, it retains dated elements such as popcorn ceilings and older carpets. The reliance on three additional mini-split units alongside the central HVAC suggests the primary system may be aged or insufficient for the 2,080 sqft layout.
Situated within walking distance to Arizona State University and Downtown Tempe, this property is perfectly positioned for high-demand student housing or short-term rental markets.
The 5-bedroom, 2,080-square-foot layout is ideal for a rent-by-the-room strategy, maximizing cash flow in a submarket with no HOA restrictions.
Equipped with both central HVAC and three additional mini-split units, the home offers superior cooling efficiency and individual room temperature control, which is a significant asset in the Arizona heat.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
Marketed as an 'Investor Special' and built in 1951, the property likely requires significant modernization or repairs to compete with newer or fully renovated rentals in the area.
The local elementary, middle, and high schools all carry a rating of 3, which may limit the property's appeal to long-term family residents and traditional owner-occupants.
Investor Special! 5 bedroom, 2 bath home in Tempe amazing Tempe location near ASU! 2080 square feet! Amazing investment opportunity for ASU student living rent by room or AirBNB! Interior laundry! Large covered patio! No HOA! Central HVAC plus 3 mini split units! Walk to ASU Campus or Downtown Tempe and enjoy shopping & dining!!
No exterior & parking available.
Grades PK-5 • 0.7 mi
Grades 6-8 • 0.3 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 87% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 2,080 | 1,550 | 87% |
| Lot Size | 8,128 | 6,765 | 74% |
| Price | $549.0K | $0 | 91% |
| Price per sq ft | $264 | $0 | 65% |
| Built year | 1951 | 1958 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 2174 | 4% |
May 15, 2026
$549,000
Initial Listing