421 S TERRY Lane, Tempe, AZ, 85281
About This Home
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.
Getting Around
Very Walkable
Good Transit
Biker's ParadiseSchools
Construction
Condition
- Year built: 1985
Materials
- Roof: Tile,Built-Up
- Construction materials: Wood Frame,Painted,Stucco
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Disposal,Refrigerator,Free-Standing Electric Oven,Microwave,Washer/Dryer
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 4
Features
- Flooring: Carpet,Ceramic Tile
Heating & Cooling
- Heating features: Electric
- Cooling features: Central Air
Interior Area
- Total structure area: 3,504
- Total interior livable area: 3,504 sqft
Property
Details
- Parcel number: 12429001K
- Zoning: R-3
Lot
- Lot size: 7,008 sqft
- Lot size dimensions: 64' x 109.50'
Parking
- Total spaces: 8
- Parking features: Paved,Assigned,>1 Space Per Unit
- Has uncovered spaces: Yes
- Uncovered spaces: 8
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Inland Flooding
- Hail
How This Home’s Risks Compare
FEMA Declared Disasters in Maricopa County and Arizona
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,893 | $46,716 |
| Home Insurance | $221 | $2,652 |
| Property Taxes | $282 | $3,384 |
| Electricity | $371 | $4,452 |
| Total | $4,767 | $57,204 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-23 | Listed for sale | $769,999 |
| 2024-09-13 | Listing removed | $1,995 |
| 2024-08-14 | Price change | $1,995 |
| 2024-07-30 | Price change | $2,095 |
| 2024-07-10 | Listed for rent | $2,195 |
| 2023-07-18 | Listing removed | -- |
| 2023-07-08 | Listed for rent | $2,095 |
| 2022-07-21 | Listing removed | -- |
| 2022-07-02 | Listed for rent | $2,000 |
| 2022-05-26 | Sold | $715,000 |
| 2022-05-04 | Pending sale | $660,000 |
| 2022-04-29 | Listed for sale | $660,000 |
| 2022-02-08 | Sold | $385,000 |
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