803 E Melody Drive, Gilbert, AZ 85234, Gilbert, 85234 - 8 bed, 4 bath
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Gilbert, AZ 85234
Analysis of 803 E Melody Drive, Gilbert, AZ 85234 is currently available with a list price of $1,694,999. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Gilbert Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is new construction or fully renovated.
Although originally built in 1977, the property has undergone an extensive top-to-bottom renovation within the last 5 years, meeting the criteria for 'excellent' condition. The interior features modern luxury vinyl plank flooring, a contemporary kitchen with high-end cabinetry and stone countertops, and fully updated bathrooms with designer tile work. All major visible components, including the roof, windows, and resort-style outdoor amenities, appear new or virtually new with no evidence of deferred maintenance.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 54973, living area = 2881.
The expansive 1.26-acre lot features a premier water park-style pool with a grotto, slide, and custom rock climbing wall, complemented by a full outdoor kitchen and pickleball-ready pad.
With 8 bedrooms, a private casita, and a rare fully finished basement, this property offers exceptional flexibility for multi-generational living or a high-capacity short-term rental investment.
Configuring 8 bedrooms within 2,881 square feet suggests that individual room sizes may be significantly smaller than average, potentially impacting the sense of interior spaciousness.
Despite the extensive cosmetic remodel, the 1977 original construction may still involve older underlying mechanical or structural components typical of a home of this age.
ONE OF A KIND BASEMENT HOME WITH ENDLESS OPPORTUNITIES! Fully remodeled top-to-bottom, this exceptional Gilbert property sits on 1.26 acres and features 8 bedrooms, 3.5 bathrooms, plus an office across the main home and private casita. A rare fully finished basement adds flexible living space. The resort-style backyard boasts a water park pool with slide, grotto, and a custom rock climbing wall with ropes and pulleys, plus an outdoor kitchen gazebo perfect for entertaining. Currently operating as a successful Airbnb, it's ideal for investors or large families. A concrete pad is ready for a pickleball court, with ample room to expand -- add a shop, garage, or more. Located minutes from Downtown Gilbert with easy access to U.S. Route 60 for quick trips to Phoenix and Scottsdale.
No exterior & parking available.
Grades PK-6 • 0.5 mi
Grades 7-8 • 5.2 mi
Grades 8-12 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 8.0 | 4.0 | 99% |
| Baths | 4.0 | 3.0 | 92% |
| Square foot | 2,881 | 2,075.5 | 86% |
| Lot Size | 54,973 | 6,839 | 95% |
| Price | $1.69M | $454.8K | 97% |
| Price per sq ft | $588 | $233 | 97% |
| Built year | 1977 | 1994 | 3% |
| HOA | $0 | $80 | 21% |
| Days on market | 71 | 2540 | 1% |
Mar 28, 2026
$1,694,999
Initial Listing