856 S Colonial Drive, Gilbert, AZ 85296, Gilbert, 85296 - 3 bed, 3 bath
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Gilbert, AZ 85296
This Turnkey Single Family Residence is a Strong Value Opportunity, listed at $429,900—positioned well below the $437,795 Fair Market Value by 1.8%. This valuation gap offers $7,895 in Instant Equity for the buyer. With an Excellent Condition Rating, the home features a Granite Kitchen, new turf, and updated systems. Located in the Neely Commons community near Top-Rated Schools like Mesquite Elementary, this property is an ideal fit for first-time buyers or owner-occupants seeking a move-in-ready lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 856 S Colonial Drive Subject | $429,900* List Price | 3 | 3 | 1,632 | $268 | - |
A 961 E REDONDO Drive Sold | $390,000 | 3 | 3 | 1,632 | $239 | 0.1 mi |
B 1247 S Boulder Street D Sold | $445,000 | 3 | 3 | 1,661 | $268 | 0.9 mi |
C 1580 E SHERRI Drive E Pending | $404,900 List Price | 3 | 3 | 1,514 | $267 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 2003, the property qualifies as Excellent due to extensive renovations within the last 5 years. Key updates include new granite countertops, updated bathrooms, fresh interior paint, and new carpet/tile. Crucially, major systems are nearly new, featuring a 4-year-old Trane HVAC and a 1-year-old water heater, ensuring no immediate maintenance is required.
The home features fresh interior paint, new carpet, wood-look tile flooring, and granite countertops, providing a contemporary, move-in-ready aesthetic for new owners.
A high-quality Trane A/C system installed just four years ago and a one-year-old water heater offer significant peace of mind and reduced immediate maintenance costs.
Located in the desirable Neely Commons community, the property is served by highly-rated schools, including Mesquite Elementary and South Valley Jr. High, both with a rating of 7.
The 3,000-square-foot lot is relatively compact for a single-family residence, which may be a drawback for buyers seeking extensive outdoor space or larger private yards.
The $230 association fee adds a consistent monthly carrying cost that may impact the overall affordability and debt-to-income ratio for budget-conscious buyers.
Beautifully updated 3-bedroom, 2.5 bath home located in the highly desirable Neely Commons community. Fresh interior paint and new carpet create a bright, move-in-ready feel, while stylish wood-look tile flooring offers both durability and modern appeal. The kitchen features new granite countertops, and the bathrooms have been thoughtfully updated with clean, contemporary finishes. Major systems provide peace of mind, including a water heater replaced last year and a quality Trane A/C system installed just four years ago. Enjoy a private, low-maintenance backyard with newly installed turf--ideal for relaxing or entertaining year-round. Situated in the sought-after Neely Commons neighborhood, known for its welcoming atmosphere and convenient access to shopping, dining, and major commute
No exterior & parking available.
Grades PK-6 • 0.6 mi
Grades 7-8 • 1.5 mi
Grades 8-12 • 3.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,632 | 2,089 | 21% |
| Lot Size | 3,000 | 6,891 | 7% |
| Price | $429.9K | $390.0K | 55% |
| Price per sq ft | $263 | $202 | 68% |
| Built year | 2003 | 2000 | 64% |
| HOA | $230 | $139 | 67% |
| Days on market | 39 | 3072 | 1% |
Apr 30, 2026
$429,900
Initial Listing