421 S TERRY Lane, Tempe, AZ 85281
Property image
Property image
FOR SALE

$749,999

Original price: $769,999
  • 4 Beds
  • 4 Baths
  • 3,504 sqft

421 S TERRY Lane, Tempe, AZ 85281

Sunset
Est. Mortgage $4,339/mo*
Get Pre-Qualified

Home Highlights

Multi-Family
Built in 1985
$214/sqft
8 Open Spaces

Local Information

  • Map ViewExplore the area around 421 S TERRY Lane.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

Attention aspiring SHORT TERM RENTAL owners!! This is an amazing opportunity to turn a profit and own an investment property. Numbers for only ONE side of the duplex provide a $39K revenue. To help ease the new owners worries there are new roofs on both sides, new AC unit on one side, new water heater on one side, both units come with W/D, refrigerators and blinds. This Is a prime Tempe investment opportunity! This beautifully updated duplex is located in one of the Valley's strongest rental markets, just minutes from Arizona State University, Sky Harbor International Airport, Downtown Tempe, Tempe Town Lake, and major employment hubs. With easy access to Loop 202, SR-143, and I-10, this is an ideal location for attracting long and short-term tenants. Each unit offers a modern, open-concept layout with designer finishes, granite countertops, stainless steel appliances, wood-look tile flooring, spacious bedrooms, private patios, and low-maintenance outdoor space. All features that help attract and retain quality tenants. The property has demonstrated strong rental demand and offers an excellent opportunity for investors seeking immediate income with long-term appreciation potential.
Whether you're looking to expand your portfolio, complete a 1031 exchange, or live in one unit while generating rental income from the other, this property checks all the boxes. Opportunities to own a well-maintained duplex in this highly sought-after Tempe location are few and far between.
Don't miss your chance to own an income-producing asset in one of Arizona's most consistently desirable rental markets.
Last check for updates: about 2 hours ago
Listing courtesy of Nicole John, (928) 322-1997
Realty ONE Group
Mark Newman, (480) 993-8653
Realty ONE Group
Source: ARMLS, MLS#7057410
Also Listed on ARMLS.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

Home Details for 421 S TERRY Lane

Interior Features

Beds & Baths
Number of Bedrooms: 4Number of Bathrooms: 4
Dimensions and Layout
Living Area: 3504 Square Feet
Appliances & Utilities
Appliances: Disposal, Refrigerator, Free-Standing Electric Oven, Microwave, Washer/DryerDisposalMicrowaveRefrigerator
Heating & Cooling
Heating: ElectricHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Electric
Gas & Electric
Electric: APSHas Electric on Property
Windows, Doors, Floors & Walls
Flooring: Carpet, Ceramic Tile
Levels, Entrance, & Accessibility
Floors: Carpet, Ceramic Tile

Exterior Features

Exterior Home Features
Roof: Tile Built Up
Parking & Garage
Open Parking Spaces: 8No CarportNo GarageHas Open ParkingParking Spaces: 8Parking: Paved,Assigned,>1 Space Per Unit
Frontage
Road Surface Type: AsphaltNot on Waterfront
Water & Sewer
Sewer: Public Sewer

Days on Market

Cumulative Days on Market: 42Days on Market: 57

Property Information

Year Built
Year Built: 1985
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family
Building
Construction Materials: Wood Frame, Painted, Stucco
Property Information
Parcel Number: 12429001K

Price & Status

Price
List Price: $749,999Price Per Sqft: $214

Active Status

MLS Status: Active

Location

Direction & Address
City: TempeCommunity: MERCADO HOMES
School Information
Elementary School: Scales Technology AcademyElementary School District: Tempe School DistrictJr High / Middle School: Geneva Epps Mosley Middle SchoolHigh School: Tempe High SchoolHigh School District: Tempe Union High School District

Agent Information

Listing Agent
Listing ID: 7057410

Building

Building Area
Building Area: 3504 Square Feet

Community

Community Features: No Pool

Lot Information

Lot Area: 7008 sqft

Offer

Listing Terms: Conventional, 1031 Exchange, FHA, VA Loan

Business

Business Information
Ownership: Fee Simple

Rental Terms, Policies & Fees

Owner Pays: Other

Miscellaneous

Mls Number: 7057410

Additional Information

No Pool

Around this home

Neighborhood Overview

Sunset
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Sunset

  • Cainiac
    "Tempe is a very large area. Even a zip code like 85281 can vary. I live in the ASU area near 1st and University. Walkable to Whole-foods and many restaurants. Tempe Beach is like an oasis. "
    0
    Flag
  • Trulia User
    "There are homeless people in the area, but the neighborhood generally feels safe and clean when I go for runs."
    0
    Flag
  • Sydney B.
    "lots of students and some sketchy characters, but good for public transit and there are a lot of good jobs/companies in the area. Very close to everything you need (downtown Tempe, ASU, the highway, etc)."
    3
    Flag
  • Heather B.
    "There is a recenter around the corner, plus a dog part, an elementary school and kids playing. Also, a colorful, building wall, mural that seems to be the hotspot in photography/photoshoot location."
    2
    Flag
  • Heather B.
    "Living next to Tempe town lake, there is a wide selection of events that brings many faces you otherwise wouldn’t have ever met."
    0
    Flag
  • Samuelrstuart
    "Up and coming neighborhood...Very quiet, very close to mill, very close to highway. Really greet place to live"
    4
    Flag
  • bg33martinka
    "I use to live here!!! Everything is close by such as Mill ave, 5 min bike ride to ASU and parks/recreational near by."
    8
    Flag

Market trends in Tempe

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$461K
$1.5KMoM
Sale-to-List Price
98.3%
Price per sq ft
$289
$0MoM
Available listings
593
22MoM

Home Value

Trulia Estimate
$715K
Since last month
Decreased$37K (-4.9%)
Since last year
Increased$138K (+23.9%)
Since last sale
Decreased$400 (-0.1%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +176% in the last 10 years
MonthEstimated value
2026
September 2026$715K
August 2026$732K
July 2026$752K
June 2026$589K
May 2026$590K
April 2026$603K
March 2026$603K
February 2026$608K
January 2026$599K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
105 S HARDY Drive, Tempe, AZ
0.28
Multi-Family Home
$675,000
03/23/26
4
4
1,928
1301 W 3RD Street, Tempe, AZ
0.21
Multi-Family Home
$800,000
09/30/25
6
2
2,800
1321 W 5th Street, Tempe, AZ
0.27
Multi-Family Home
$827,000
09/19/25
8
4
2,800
1558 W 5TH Street, Tempe, AZ
0.54
Multi-Family Home
$915,000
11/21/25
6
6
3,602
425 - 427 W 5TH Street W, Tempe, AZ
0.58
Multi-Family Home
$1,300,000
08/12/26
3
3
4,400
538 W 13TH Street #A, Tempe, AZ
0.89
Multi-Family Home
$650,000
02/23/26
5
3
2,106
1519 W 7TH Place, Tempe, AZ
0.52
Multi-Family Home
$610,000
10/08/25
7
3
2,633
508 S FARMER Avenue, Tempe, AZ
0.64
Multi-Family Home
$1,400,000
05/28/26
8
1
4,400
1513 W 7TH Place, Tempe, AZ
0.50
Multi-Family Home
$570,000
10/21/25
6
1
2,409
1218 S FARMER Avenue, Tempe, AZ
0.98
Multi-Family Home
$1,610,000
07/03/26
7
8
6,250

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
331 S Beck Avenue, Tempe, AZ 85281
0.05
$345,200
3
2
1,053
Off Market
430 S ROBERT Road, Tempe, AZ 85281
0.03
$369,000
3
1
1,076
Recently Sold
410 S ROBERT Road, Tempe, AZ 85281
0.04
$374,400
3
1
912
Off Market
318 S TERRY Circle, Tempe, AZ 85281
0.07
$399,999
3
1
912
Recently Sold
1064 W 5TH Street, Tempe, AZ 85281
0.06
$375,000
3
1
912
For Sale
330 S BECK Avenue #222, Tempe, AZ 85281
0.10
$250,000
2
2
824
For Sale
415 S ROBERT Road S, Tempe, AZ 85281
0.05
$689,900
5
3
2,530
For Sale
415 S ROBERT Road #21, Tempe, AZ 85281
0.06
-
-
-
-
Off Market
315 S BECK Avenue, Tempe, AZ 85281
0.09
$495,000
4
2
1,200
For Sale
401 S ROBERT Road, Tempe, AZ 85281
0.07
$470,500
5
2
1,524
Off Market
1213 W 5TH Street, Tempe, AZ 85281
0.13
$516,700
4
2
1,382
Off Market

Price and Tax history

DateEventPrice
Sep 2, 2026
Source: ARMLS #7057410
PriceChange
$749,999
Price decreased by 3%
Jul 23, 2026
Source: ARMLS #7057410
Listed For Sale
$769,999
Sep 13, 2024
Source: Zillow Rentals
ListingRemoved
$1,995
Aug 14, 2024
Source: Zillow Rentals
PriceChange
$1,995
Price decreased by 5%
Jul 30, 2024
Source: Zillow Rentals
PriceChange
$2,095
Price decreased by 5%

LGBTQ Local Legal Protections

Nicole John, Realty ONE Group
Agent Phone: (928) 322-1997

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Frequently asked questions about 421 S TERRY Lane

  • What is the estimated monthly payment for 421 S TERRY Lane?
    Based on a $749,999 list price with 20% down at today's rates, the estimated monthly payment for 421 S TERRY Lane in Tempe, AZ is approximately $4,428 (about $4,097 principal & interest, $256 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • How does the list price for 421 S TERRY Lane compare to homes in Tempe?
    421 S TERRY Lane in Tempe, AZ is listed at $749,999, about 63% above the $461K median sale price in Tempe.
  • What are the closest schools to 421 S TERRY Lane?
    The closest schools to 421 S TERRY Lane in Tempe, AZ are Geneva Epps Mosley Middle School (rated 2/10), Scales Technology Academy (Pre-K/Elementary, rated 4/10), Tempe High School (rated 5/10).
  • What is 421 S TERRY Lane estimated to be worth?
    Trulia's estimated value for 421 S TERRY Lane in Tempe, AZ is $714,600.
  • Does 421 S TERRY Lane have air conditioning?
    Yes, 421 S TERRY Lane in Tempe, AZ has air conditioning.
  • Does 421 S TERRY Lane have laundry facilities?
    Yes, 421 S TERRY Lane in Tempe, AZ has laundry facilities.
421 S TERRY Lane, Tempe, AZ 85281 is a 4 bedroom, 4 bathroom, 3,504 sqft multi-family built in 1985. 421 S TERRY Lane is located in Sunset, Tempe. This property is currently available for sale and was listed by ARMLS on Jul 23, 2026. The MLS # for this home is MLS# 7057410.