818 E Drake Drive, Tempe, AZ 85283, Tempe, 85283 - 3 bed, 2 bath
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818 E Drake Drive
Tempe, AZ 85283
ACTIVE
CONDITION: GOOD
3Beds
2Baths
1,896Sq Ft
8,398Lot Size
Property Price
LIST PRICE$550,000
EST. MARKET VALUE
$559,900
SUMMARY
This Spacious Single-Family Residence is a Strong Value Opportunity, listed at $550,000—positioned well below the $559,900 Fair Market Value by 1.77%. This valuation gap offers $9,900 in Instant Equity. The property maintains a Good Condition Rating, featuring a new 2024 roof, a 2025 HVAC system, and Granite Kitchen Counters. With no HOA, a fenced pool, and dual RV gates, it offers rare flexibility. This is an ideal acquisition for Owner-Occupants or first-time buyers seeking a move-in ready home.
Estimated Market Value
$559,900
Based on Realkey algorithm analyzing recent comparable sales in Tempe.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 818 E Drake Drive Subject 3 bd · 2 ba · 1,896 sqft · $295 | $550,000* List Price | 3 | 2 | 1,896 | $295 | - |
A 6801 S PALM Drive Sold 3 bd · 2 ba · 1,872 sqft · $256 · 0.2 mi | $480,000 | 3 | 2 | 1,872 | $256 | 0.2 mi |
B 213 E MCNAIR Drive Sold 4 bd · 2 ba · 1,947 sqft · $244 · 0.5 mi | $475,000 | 4 | 2 | 1,947 | $244 | 0.5 mi |
C 5919 S JENTILLY Lane Sold 4 bd · 2 ba · 1,968 sqft · $287 · 0.9 mi | $565,000 | 4 | 2 | 1,968 | $287 | 0.9 mi |
D 1316 E WOODMAN Drive Sold 4 bd · 2 ba · 2,056 sqft · $263 · 0.8 mi | $540,000 | 4 | 2 | 2,056 | $263 | 0.8 mi |
E 1411 E DAVA Drive Sold 3 bd · 3 ba · 1,878 sqft · $343 · 0.7 mi | $645,000 | 3 | 3 | 1,878 | $343 | 0.7 mi |
F 721 E BRENTRUP Drive Sold 3 bd · 2 ba · 1,431 sqft · $291 · 0.4 mi | $415,800 | 3 | 2 | 1,431 | $291 | 0.4 mi |
G 6736 S STANLEY Place Sold 3 bd · 2 ba · 1,396 sqft · $330 · 0.6 mi | $460,000 | 3 | 2 | 1,396 | $330 | 0.6 mi |
H 6713 S PALM Drive Active 3 bd · 2 ba · 1,832 sqft · $281 · 0.3 mi | $515,000 List Price | 3 | 2 | 1,832 | $281 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
While the home was built in 1977 and features dated kitchen cabinetry, it is exceptionally well-maintained and move-in ready. It features critical high-value updates including a new roof (2024), a new 5-ton HVAC system (2025), and granite countertops. The interior shows well with clean tile flooring and modern fixtures, placing it firmly in the 'Good' category despite its chronological age.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8398, living area = 1896.
- Major System Upgrades
The property features a brand-new roof (2024) and a powerful 5-ton heat pump (2025), providing significant value and reducing immediate maintenance concerns for the buyer.
- No HOA & RV Accessibility
The absence of an HOA combined with two large RV gates and concrete pads offers rare flexibility for storing recreational vehicles, trailers, and equipment without restrictive oversight.
CONSRISKS & DEFICIENCIES
- Property Age
Built in 1977, the home may require further cosmetic updates or infrastructure modernization to meet the aesthetic expectations of contemporary buyers.
- Market Competition
With 28 days on the market at a $550,000 price point, the property faces stiff competition from newer or more extensively renovated homes in the immediate area.
About 818 E Drake Drive
NO HOA! Great Tempe location next to Ken McDonald Golf Course. Convenient access to freeways, shopping, services and recreation. This 3-bed, 2-bath home is well maintained and features a fenced pool for cool summer fun. This split floor plan is open with a large master bedroom with walk-in closet. There is plenty of storage in the kitchen and granite counters. Huge laundry room with access to attic storage that is insulated and air conditioned to protect all your treasures. New and powerful, 5-ton heat pump (2025) and the new roof (2024). Two huge RV gates with concrete pads for an RV, adult and kid toys, trailers, storage, tools, or equipment. Easy access to the Western Canal for walking or biking.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1977
- Lot Size
- 8,398 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.3 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,896 | 1,805.798 |
| Lot Size | 8,398 | 8,241.322 |
| Price | $550.0K | $528.2K |
| Price per sq ft | $290 | $306 |
| Built year | 1977 | 1973 |
| HOA | $0 | $297 |
| Days on market | 31 | 66 |
Pricing History
Listed for Sale
Sep 23, 2026
$550,000
Initial Listing