Tempe Homes under $500,000

Tempe Homes under $500,000

Welcome to Tempe, Arizona – a vibrant city that perfectly blends urban living with a rich tapestry of outdoor adventures and cultural experiences. Nestled in the heart of Maricopa County, Tempe is renowned for its picturesque lakes, lush parks, and a thriving arts scene. With Arizona State University at its core, the city pulses with youthful energy and innovation, making it an ideal locale for families, professionals, and students alike.

For those seeking affordable housing options, Tempe offers an impressive selection of homes under $500,000. This price range opens the door to a variety of charming properties, from cozy single-family homes to modern townhouses, ensuring that there’s a perfect fit for every lifestyle. Imagine sipping your morning coffee on a sun-drenched patio or hosting weekend barbecues in your spacious backyard – the possibilities are endless!

Living in Tempe means enjoying easy access to an array of amenities. Explore the bustling Mill Avenue District, where you’ll find trendy shops, delightful eateries, and vibrant nightlife. For nature enthusiasts, the nearby Tempe Town Lake and Papago Park provide endless opportunities for hiking, biking, and water sports. Plus, with excellent schools and convenient public transportation, you’ll find that Tempe is not just a place to live, but a community to thrive in.

Whether you’re a first-time homebuyer or looking to invest in a property, Tempe’s real estate market has something special waiting for you. Discover the charm and excitement of this dynamic city today!

Newest Tempe Homes under $500,000

60 E Calle De Arcos --, Tempe
$425,000
3 Beds ⋅ 2 Baths ⋅ 7104981 MLS ⋅ 1,794 SqFt.
A rare opportunity in desirable south Tempe's Warner Ranch. Walk to Postino, Ghost Ranch, and award-winning Kyrene and Tempe Union district schools. This original owner gem is ready for your new chapter and the cosmetic updates that suit you perfectly; a new roof and HVAC system are already done for you. Cross the street to the park and community pool. Enjoy a cozy evening with the wood-burning fireplace, work from home in the oversized den/office/bedroom with outdoor access, and retreat to a large primary bedroom with his and her closets. Mature trees and brick pavers in the backyard provide shade and ease of care. All front yards are maintained by the HOA for a beautiful community. This is your new home.

60 E Calle De Arcos --, Tempe
1055 W 5th Street Unit 19, Tempe
$275,000
2 Beds ⋅ 2 Baths ⋅ 7104385 MLS ⋅ 984 SqFt.
Welcome to this beautifully remodeled Tempe condo! This inviting 2-bedroom, 1.5-bathroom home features modern upgrades throughout, including new flooring, carpet, fresh paint, new blinds, updated electrical fixtures, water heater and a completely new kitchen with stainless steel appliances and elegant granite countertops with a breakfast bar. Enjoy a stylish, move-in-ready space in a prime location just minutes from ASU, popular restaurants, shopping, and entertainment. Don't miss this fantastic opportunity to own a beautifully updated condo in the heart of Tempe. Come see it today

1055 W 5th Street Unit 19, Tempe
6507 S Kenneth Place Unit C, Tempe
$259,900
2 Beds ⋅ 1 Baths ⋅ 7104291 MLS ⋅ 858 SqFt.
Beautifully renovated and move-in ready, this single-level Tempe townhome offers modern finishes, low-maintenance living, and exceptional value. Extensive updates include a new roof, A/C, dual-pane windows, cabinetry, quartz countertops, luxury vinyl plank flooring, appliances, and a beautifully remodeled bathroom. The spacious primary bedroom opens to a private patio, perfect for morning coffee or evening relaxation. Enjoy two covered parking spaces, private storage, a community pool, and expansive green space. Competitively low HOA fees cover water, sewer, trash, exterior maintenance, roof repair and replacement, and blanket insurance. Conveniently located near ASU, shopping, dining, major employers, and freeways.

6507 S Kenneth Place Unit C, Tempe
2401 W Southern Avenue Unit 136, Tempe
$39,900
1 Beds ⋅ 1 Baths ⋅ 7104098 MLS ⋅ 700 SqFt.
Turn-key ALL ELECTRIC 1-bedroom,1-bathroom ground-set 2008 Cavco,premium corner lot with highly desirable north-south exposure.Extended porch featuring durable composite decking and heavy-duty security doors.Inside,expansive, open-concept living room that flows seamlessly from the kitchen, creating an inviting space filled with natural light.Energy-efficient dual-pane windows throughout, offering excellent insulation,indoor stackable washer and dryer provides ultimate space-saving convenience.The layout offers a dual-entry bathroom accessible from both the bedroom and the main hallway with higher dual-sink vanities & modern walk-in shower.Exterior highlights include freshly painted T1-11 siding,durable comp shingle roof,newer AC 2024.Lot rent $1080.00 mo.Rentals OK.Guests pkg steps away. The Meadows is a 55+ retirement gated mobile home community with a plethora of organized activities, nice billiard facilities, spacious clubhouse, scenic picnic area, and a whirlpool-spa-hot tub. Pickleball courts(in process)Shuffleboard,swimming pool also offer you opportunities to get out socialize with your neighbors. Just mins away from shopping, dining and Sky Harbor Airport.

2401 W Southern Avenue Unit 136, Tempe
1905 E University Drive Unit 251, Tempe
$275,000
2 Beds ⋅ 2 Baths ⋅ 7103924 MLS ⋅ 1,140 SqFt.
Prime Tempe location meets effortless living in this bright second-floor end unit with vaulted ceilings and complete privacy overhead. Inside, discover a crisp, modern aesthetic featuring fresh designer paint, newly installed durable plank flooring and dedicated in-unit laundry. The open kitchen showcases sleek granite counters and stainless appliances, flowing directly into an airy great room and out to an oversized private balcony. The layout offers an en-suite primary bath with dual sinks and a smart split-room guest bath. Positioned just 1.25 miles from ASU, you are minutes away from Mill Avenue, Tempe Marketplace, Sky Harbor Airport, and freeway access. Relax by either of the two sparkling community pools, with rare on-site RV/boat storage available. A premier turnkey opportunity!

1905 E University Drive Unit 251, Tempe
425 W Rio Salado Parkway Unit 101, Tempe
$479,900
2 Beds ⋅ 2 Baths ⋅ 7103851 MLS ⋅ 1,048 SqFt.
Welcome to Tempe--where lifestyle meets location.This LAKEFRONT condo serves up an open, airy layout with tall ceilings, clean tile flooring, crown molding, and a vibe that's equal parts chill and functional.The kitchen keeps it sleek with granite counters and backsplash, matching appliances, and plenty of cabinet space. The primary suite features a spacious ensuite with dual vanities and walk-in closet. Private balcony has premium views of Tempe Town Lake and the surrounding mountains--morning coffee and sunset drinks just hit different here.The gated community includes pool, spa, and fitness center. Let's talk location: walk to Mill Ave, Tempe Town Lake, and ASU, with with restaurants, nightlife, trails, and entertainment around the corner. Prime investor opportunity close to ASU!

425 W Rio Salado Parkway Unit 101, Tempe
5616 S Roosevelt Street, Tempe
$350,000
3 Beds ⋅ 2 Baths ⋅ 7103770 MLS ⋅ 1,426 SqFt.
Great Townhome in an Amazing Tempe Location!! Minutes from the 60 Fwy, between the 10 and the 101. Kiwanis Park, Ken McDonald Golf Course and South Mountain Park nearby! 3 Bedrooms and 2 full baths with private back yard. Beautiful Community pool right outside your front door! Brand new roof, new windows and A/C only 4 years old. Skylights are in process of being replaced. Whole interior just painted. Separate RV Parking Available. LOW HOA DUES!! Move In Ready!

5616 S Roosevelt Street, Tempe
2106 S Pine Street, Tempe
$399,000
3 Beds ⋅ 2 Baths ⋅ 7103509 MLS ⋅ 1,052 SqFt.
Beautifully updated and full of character, this 3-bedroom, 2-bathroom Tempe townhome offers a thoughtfully designed living space with NO HOA! Centrally located near ASU, Mill Avenue, Tempe Marketplace, and the PHX light rail, this home also offers convenient freeway access. Step inside to a bright and inviting interior filled with natural light. Wood-look plank tile flooring, neutral finishes, and an open-concept layout to create a welcoming space. The kitchen features stainless steel appliances, white cabinetry, quartz countertops, and a spacious breakfast bar, while a striking natural wood accent wall adds warmth and character. Recent updates include new interior doors, 5-inch baseboards, and fresh interior paint in 2025. The full A/C system was installed in 2020, and a new roof is scheduled for installation in November 2026. Custom sliding barn doors with frosted glass panels add architectural character and versatility to the living space. Both beautifully updated bathrooms offer floor to ceiling tile in the showers, sliding glass shower doors, with quartz countertops. The primary bedroom offers direct patio access, creating an inviting connection to the outdoors. With extensive updates and all appliances included, this home offers a turnkey, move-in-ready opportunity with little left to do but settle in. The property also benefits from being in a convenient Tempe location with easy access to Sloan Park (home of Chicago Cubs spring training), Arizona Mills Mall, Meyer Park and endless shopping, dining, and nightlife options. Come see the thoughtful updates and inviting spaces that make this home stand out amongst the rest!

2106 S Pine Street, Tempe
3220 S El Camino Drive, Tempe
$350,000
2 Beds ⋅ 2 Baths ⋅ 7103301 MLS ⋅ 1,431 SqFt.
Welcome to this beautifully updated Townhome in Villa Patrician. Featuring 2 large bedrooms and bathrooms, all new windows, HVAC unit, paint and beautiful bamboo flooring. The kitchen cabinets are also new, plus a stainless kitchen appliance package and granite counters. WOW! Great room with fireplace, and all new lighting plus new ceiling fans. The bonus family room has a new wet bar for entertaining. New french doors lead to a tiled back patio with new gate to walking paths and pool area. The popcorn ceiling was also removed. The Roof was recently replaced with warranty. Community has a fenced dog run area, and sidewalks throughout the neighborhood make it great for walks. Located off College Ave with a direct route to ASU and downtown Tempe. Longtime owners have taken pride in this home

3220 S El Camino Drive, Tempe
1011 W Malibu Drive, Tempe
$315,000
2 Beds ⋅ 2 Baths ⋅ 7102990 MLS ⋅ 884 SqFt.
Curt townhouse in the heart of Tempe! Home is a 2 bed, 2 bath, 884 sq. ft. with a community pool! Home is located by all shopping and freeways.

1011 W Malibu Drive, Tempe
616 S Hardy Drive Unit 116, Tempe
$275,000
2 Beds ⋅ 2 Baths ⋅ 7102920 MLS ⋅ 779 SqFt.
Remodeled Tempe condo near ASU and downtown Tempe, priced to move. This 2 bed, 2 bath condo in the 85281 is just under 1,000 sq ft, and it was redesigned to feel open, bright and airy. High-end finishes, a modern remodel, and a spot right on the complex greenbelt. The washer, dryer and refrigerator are included, so you can skip the appliance shopping. The location is the real hook. Mill Avenue, Tempe Town Lake, the light rail and a ton of restaurants are close by, and Jaycee Park is within walking distance. There's also a community pool, easy freeway access, and Sky Harbor is about 10 minutes away. Close to ASU and all new fixyres and appliances, it's a great option for an investor or anyone who wants to live near campus and downtown Tempe.

616 S Hardy Drive Unit 116, Tempe
1626 E Logan Drive, Tempe
$349,999
4 Beds ⋅ 3 Baths ⋅ 7102792 MLS ⋅ 1,704 SqFt.
This charming 1,704 sqft, two-story condo offers four bedrooms, 2.5 baths, a large living area, and a flexible floor plan. The home features newer windows, central air conditioning, a new programmable thermostat, and ceiling fans in all bedrooms and the living room. The bathrooms partially updated. The refrigerator, washer and dryer, dishwasher, garbage disposal, and AC unit are all less than three years old. Additional features include a large pantry, good closet space, a private back patio, exterior storage, and two covered carport spaces. The location near Baseline Road and McClintock Drive offers exceptional everyday convenience. Arizona State University is approximately five miles away. Short-term rentals allowed, offering flexibility for owner-occupants or investors.

1626 E Logan Drive, Tempe
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