817 W ROMO JONES Street, Tempe, AZ 85281, Tempe, 85281 - 5 bed, 2 bath
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Tempe, AZ 85281
This property presents a Strong Value Opportunity with a List Price of $525,000—positioned well below the $568,281 Fair Market Value by 7%. This valuation gap offers $43,281 in Instant Equity. Featuring a Fair Condition Rating, the home requires modernization but offers significant upside due to its Prime ASU Proximity and Oversized Lot. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to capitalize on high rental demand near campus.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 817 W ROMO JONES Street Subject | $525,000* List Price | 5 | 2 | 1,989 | $286 | - |
A 1245 W 11TH Street Sold | $480,000 | 4 | 2 | 1,503 | $319 | 0.5 mi |
B 1245 W 9th Street Sold | $480,000 | 3 | 2 | 1,501 | $320 | 0.4 mi |
C 1621 S MARILYN ANN Drive Active | $550,900 List Price | 3 | 2 | 2,010 | $274 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1966, the property is over 50 years old and maintains a very dated interior. The kitchen features original-style wood cabinetry, laminate counters, and older appliances that exceed the 20-30 year threshold for modern standards. While the backyard has been updated with a putting green, the interior living spaces and systems likely require significant updates to move beyond 'dated' status.
The property is ideally located within walking distance of Arizona State University, shopping, and dining, making it a high-demand location for student rentals and car-free living.
The rare opportunity to acquire the neighboring property alongside this one allows for a 10-bedroom portfolio, offering significant scalability and rental income for investors.
Situated on a 7,349 sqft lot, the property features an entertainer's backyard and ample outdoor space, providing a versatile environment for relaxation and social gatherings.
The assigned elementary, middle, and high schools all carry a rating of 3, which may be a deterrent for families prioritizing high-performing school districts.
Built in 1966, the home may require significant capital expenditure for modernizing major systems or cosmetic updates to compete with newer residential options.
Rare opportunity to own 817 W Romo Jones, with neighboring 813 W Romo Jones also available for purchase creating a unique chance to acquire two side-by-side properties. Together, they offer a 10-bedroom portfolio with outstanding rental potential just minutes from ASU. Walk to class. Walk to Starbucks. Walk to shopping. No car needed! Situated on an oversized lot along a picturesque, street, this property also features an entertainer's backyard with room to relax, gather, and enjoy Arizona living. Surrounded by restaurants, entertainment, and everyday conveniences, this prime Tempe location offers exceptional versatility for homeowners and investors alike. Secure both and own a truly rare opportunity in one of Tempe's most desirable neighborhoods.
No exterior & parking available.
Grades PK-5 • 0.8 mi
Grades 6-8 • 0.3 mi
Grades 9-12 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 0.0 |
| Baths | 2.0 | 0.0 |
| Square foot | 1,989 | - |
| Lot Size | 7,349 | - |
| Price | $525.0K | $562.2K |
| Price per sq ft | $264 | $326 |
| Built year | 1966 | 0 |
| HOA | $0 | $0 |
| Days on market | 21 | 2615 |
Jul 1, 2026
$525,000
Initial Listing