Skip main navigation
For sale
    • Price cut: $5.1K (6/10)
    $249,900

    200 E SOUTHERN Avenue #224, Tempe, AZ 85282

    2beds
    941sqft
    : 
    $2,001/mo
    Get pre-qualified
    Condominium
    Built in 1986
    -- sqft lot
    $247,000 Zestimate®
    $266/sqft
    $445/mo HOA

    What's special

    Split floorplanPrivate shaded balconyInside laundry
    Investor opportunity in the heart of Tempe! Tenant-occupied 2 bed / 2 bath condo providing immediate rental income with optimized mid-term rental upside potential. This unit features a highly desirable split floorplan, inside laundry, a private shaded balcony, and spacious living areas. Unbeatable location just 2.5 miles from ASU, shopping, dining, major valley employers, and immediate freeway access. An attractive option for buy-and-hold investors, 1031 Exchange buyers, and portfolio growth. Active HOA community repair projects offer a built-in equity cushion and long-term value enhancement. Dues cover exterior maintenance, roofing, blanket insurance, water, sewer, trash, and access to 2 heated pools and hot tubs. Buyer to independently verify all property rules. Highest & Best Use Strategy: While currently stabilized as a long-term rental, this asset is primed for an optimized roadmap to transition into a premium 30-to-90+ day Mid-Term Rental (MTR) to capitalize on high-yielding traveling medical, corporate, and transitional academic stays. Financing & Cash Advantage: Due to ongoing community asset stabilization and repair cycles, this property is currently non-warrantable and requires an all-cash close. Cash investors can capitalize on this status to bypass financed retail competition. Turnkey Rental Infrastructure: Property is situated in an always-in-demand rental hub with local property management infrastructure available for seamless out-of-state portfolio integration. Pro Forma Availability: Data-backed pro forma models outlining both the stabilized long-term rental math and optimized mid-term rental metrics are available upon request.
    85 days
    |
    403
    |
    13
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Liza Rhima 480-788-4016,

    Delex Realty

    Source: ARMLS,MLS#: 7009928MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 2
      • Full bathrooms: 2
      Heating
      • Electric
      Cooling
      • Central Air
      Appliances
      • Included: Dryer, Washer, Refrigerator, Built-in Microwave, Dishwasher, Disposal, Electric Range
      • Laundry: Inside
      Features
      • Granite Counters, No Interior Steps, Vaulted Ceiling(s), Full Bth Master Bdrm
      • Flooring: Carpet, Tile
      • Has basement: No
      • Number of fireplaces: 1
      • Fireplace features: Living Room
      • Common walls with other units/homes: Two Common Walls,Neighbor Below,End Unit
      Interior area
      • Total structure area: 941
      • Total interior livable area: 941 sqft
      Video & virtual tour

      Property

      Parking
      • Total spaces: 1
      • Parking features: Detached Carport, Assigned
      • Carport spaces: 1
      Features
      • Stories: 2
      • Exterior features: Balcony, Storage
      • Has spa: Yes
      • Spa features: Heated
      • Fencing: Wood
      • Has view: Yes
      • View description: City
      Lot
      • Size: 1,202 Square Feet
      • Features: Borders Common Area, North/South Exposure, Grass Front, Grass Back
      Details
      • Parcel number: 13346233

      Construction

      Type & style
      • Home type: Condo
      • Property subtype: Condominium
      • Attached to another structure: Yes
      Materials
      • Brick Veneer, Wood Siding, Wood Frame, Painted
      • Roof: Tile
      Condition
      • Year built: 1986

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: City Water

      Community & HOA

      Community
      • Features: Pool, Community Spa, Near Bus Stop, Community Laundry
      • Subdivision: Chesapeake Condominium
      HOA
      • Has HOA: Yes
      • Services included: Roof Repair, Insurance, Sewer, Maintenance Grounds, Street Maint, Trash, Water, Roof Replacement, Maintenance Exterior
      • HOA fee: $445 monthly
      • HOA name: Chesapeake Owners
      Location
      • Region: Tempe

      Financial & listing details

      • Price per square foot: $266/sqft
      • Tax assessed value: $224,500
      • Annual tax amount: $1,195
      • Date on market: 5/4/2026
      • Cumulative days on market: 83 days
      • Listing terms: Cash,1031 Exchange
      • Ownership: Condominium
      • Road surface type: Paved

        Estimated market value

        $247,000

        $235,000 - $259,000

        $1,670/mo

        Price history

        DateEventPrice
        6/10/2026Price change$249,900-2%$266/sqft
        Source: ARMLS #7009928 Report a problem
        5/4/2026Listed for sale$255,000+96.2%$271/sqft
        Source: ARMLS #7009928 Report a problem
        4/12/2016Listing removed$995+17.1%$1/sqft
        Source: Assistant B Report a problem
        12/18/2013Sold$130,000+31.3%$138/sqft
        Source: ARMLS #5002101 Report a problem
        9/21/2012Listing removed$850$1/sqft
        Source: Rentbits Report a problem
        8/17/2012Listed for rent$850-5%$1/sqft
        Source: Rentbits Report a problem
        3/2/2011Listing removed$895$1/sqft
        Source: HouseHitz, Inc. Report a problem
        2/25/2011Price change$895-5.8%$1/sqft
        Source: HouseHitz, Inc. Report a problem
        2/13/2011Price change$950-4.9%$1/sqft
        Source: HouseHitz, Inc. Report a problem
        1/27/2011Listed for rent$999$1/sqft
        Source: HouseHitz, Inc. Report a problem
        11/17/2010Sold$99,000$105/sqft
        Source: ARMLS #4367139 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$1,190 +7%$22,450 +4.2%
        2024$1,112 +1.2%$21,550 +138.3%
        2023$1,099 +3.8%$9,044 -43.7%
        2022$1,059 +2.4%$16,070 +11.4%
        2021$1,033 +1.9%$14,430 +18.5%
        2020$1,014 +2.5%$12,180 +8.5%
        2019$989 $11,230 +10.3%
        2018$989 +3.1%$10,180 +10.5%
        2017$959 +4.8%$9,210 +9.9%
        2016$915 +3.4%$8,380 +12.3%
        2015$885 $7,460 +28%
        2014-- $5,830 +6%
        2013-- $5,500 -6%
        2012-- $5,850 -47.5%
        2011-- $11,150 -1.8%
        2010-- $11,350 -20.1%
        2009-- $14,200 +13.6%
        2008-- $12,500
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
        Get pre-qualified

        Climate risks

        Neighborhood: 85282

        Getting around

        78 / 100
        Very Walkable
        47 / 100
        Some Transit
        83 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Broadmor Elementary School
        • Middle: Connolly Middle School
        • High: Tempe High School
        • District: Tempe School District

        Source: ARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

        A local agent can set up tours, give advice and negotiate with sellers.

        Browse local experts

        Similar homes

              Nearby cities

              Nearby neighborhoods

              Nearby zip codes

              Other Tempe Topics

                Search
                Updates
                Favorites
                Plan
                Inbox