4242 E Rainbow Dr
Gilbert, AZ 85297
Power Ranch- 3 Beds
- 3 Baths
- 2,900 sqft
3 Beds
3 Baths
2,900 sqft
Local Information
-- mins to
Home Highlights
Property Type
Single-Family Home
Year Built
2003
Living Area
2,900 sqft
Price/Sqft
$239
Parking
Garage
About this House
This single-family home is located at 4242 E Rainbow Dr, Gilbert, AZ. 4242 E Rainbow Dr is in the Power Ranch neighborhood in Gilbert, AZ and in ZIP code 85297. This property has 3 bedrooms, 3 bathrooms and approximately 2,900 sqft of floor space. This property has a lot size of 8709 sqft and was built in 2003.
4242 E Rainbow Dr, Gilbert, AZ 85297 is a 3 bedroom, 3 bathroom, 2,900 sqft single-family home in Power Ranch, built in 2003. It last sold for $600,000 on Sep 23, 2021. It is currently off market. The Trulia Estimate is $693,400, with a rent estimate of $3,226/month.
Home Details for 4242 E Rainbow Dr
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Heating & Cooling Heating: Other, GasAir ConditioningCooling System: CentralHeating Fuel: Other |
Levels, Entrance, & Accessibility Stories: 2 |
Interior Details Number of Rooms: 8 |
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Exterior Home Features Roof: TileExterior: StuccoPatio |
Pool Pool |
Parking & Garage GarageParking Spaces: 3Parking: Garage Attached |
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Year Built Year Built: 2003 |
Property Type / Style Property Type: Single Family Home |
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Units in Building: 1 |
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Lot Area: 8709 sqft |
Price History for 4242 E Rainbow Dr
| Date | Price | Event | Source |
|---|---|---|---|
| 09/23/2021 | $600,000 | Sold | ARMLS #6278543 |
| 09/09/2003 | $214,885 | Sold | N/A |
Market trends in Gilbert
Last updated June 2026
Avg. sale price
$569K
$3.33KMoM
Sale-to-List Price
98.9%
0.1%MoM
Price per sq ft
$279
$1MoM
Available listings
1121
48MoM
Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $2,398 |
| Assessment | $545,500 |
Home facts updated by county records
Comparable Sales for 4242 E Rainbow Dr
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.02 | Single-Family Home | $599,000 | 07/29/26 | 5 | 3 | 2,520 | |
0.18 | Single-Family Home | $615,000 | 11/24/25 | 4 | 2.5 | 2,640 | |
0.17 | Single-Family Home | $750,000 | 04/09/26 | 5 | 3 | 3,015 | |
0.18 | Single-Family Home | $611,000 | 08/29/25 | 4 | 2 | 2,379 | |
0.26 | Single-Family Home | $550,000 | 06/29/26 | 5 | 3 | 2,640 | |
0.23 | Single-Family Home | $535,000 | 02/26/26 | 4 | 3 | 1,765 | |
0.29 | Single-Family Home | $910,000 | 08/21/25 | 3 | 2.5 | 2,948 | |
0.22 | Single-Family Home | $670,000 | 10/23/25 | 5 | 3.5 | 3,115 | |
0.31 | Single-Family Home | $465,000 | 11/11/25 | 3 | 2.5 | 1,598 | |
0.35 | Single-Family Home | $457,500 | 06/24/26 | 4 | 2.5 | 2,120 |
Nearby homes
Get a sense of prices in the area by checking nearby homes.Assigned Schools
These are the assigned schools for 4242 E Rainbow Dr.
What Locals Say about Power Ranch
At least 107 Trulia users voted on each feature.
99 % Say there are sidewalks
93 % Say it's dog friendly
93 % Say car is needed
90 % Say kids play outside
90 % Say there's holiday spirit
86 % Say people would walk alone at night
85 % Say streets are well-lit
82 % Say parking is easy
79 % Say yards are well-kept
77 % Say it's quiet
68 % Say they plan to stay for at least 5 years
62 % Say neighbors are friendly
52 % Say there's wildlife
52 % Say there are community events
44 % Say it's walkable to grocery stores
35 % Say it's walkable to restaurants
Sourced by Trulia users. Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Apartments for Rent
Homes for sale near 4242 E Rainbow Dr
Off Market Homes Near 4242 E Rainbow Dr
Frequently asked questions about 4242 E Rainbow Dr
- What is 4242 E Rainbow Dr estimated to be worth?Trulia's estimated value for 4242 E Rainbow Dr in Gilbert, AZ is $693,400.
- What is the price history for 4242 E Rainbow Dr?4242 E Rainbow Dr in Gilbert, AZ last sold for $600,000 in September 2021.
- Is Gilbert a buyer's or seller's market?Gilbert is currently a balanced market, based on recent for-sale activity.
- What's the median sale price in Gilbert?The median sale price in Gilbert is $569K. That is down $3.33K from the prior month.
- Does 4242 E Rainbow Dr have air conditioning?Yes, 4242 E Rainbow Dr in Gilbert, AZ has air conditioning.
- Does 4242 E Rainbow Dr have a pool?Yes, 4242 E Rainbow Dr in Gilbert, AZ has a pool.

