by Lee Lin

See Home Value
$599,000
● House - Off Market

4238 E RAINBOW Drive

Gilbert, AZ 85297
bedrooms
5 Beds
bathrooms
3 Baths
square feet
2,520 Ft²
$3,514
Est. Monthly
$402
HOA / Fees

About This Property

This stunning 5-bedroom, 3-bathroom corner lot home is nestled in the highly sought-after Power Ranch community in Gilbert! Thoughtfully designed and move-in ready, this home offers the perfect blend of comfort, style, and resort-style living.

The exterior was painted in 2023, adding to the home's beautiful curb appeal from the moment you arrive. Step inside and you'll immediately feel the space and warmth this home has to offer, with a functional layout ideal for everyday living and entertaining. A full bedroom and bathroom on the main level provides flexibility for guests, a home office, or a private space for extended family.

The real showstopper is the backyard. Designed for those who love to entertain and unwind, this resort-style outdoor oasis features a sparkling Pebble-Tec pool with a heater, brand-new turf, an extended covered patio perfect for outdoor dining, a built-in BBQ, and mature citrus trees that add beauty and charm year-round. The desirable north/south exposure helps keep the outdoor space comfortable and enjoyable.

The home also comes with a transferable home warranty good through May 2027, which includes pool and HVAC maintenance for added peace of mind.

As a Power Ranch resident, you'll enjoy access to two resort-style pools, two clubhouses, over 26 miles of scenic trails, catch-and-release fishing lakes, 25 pocket parks, basketball, volleyball, soccer and baseball fields, plus a packed community events calendar featuring farmers markets, movie nights, food truck events, and holiday celebrations. Top-rated Higley Unified School District schools are located right within the community, with easy access to SanTan Village, Loop 202, and Gilbert Gateway Towne Center.

This one truly has it all!
Unit Size
2,520 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$238
Property Type
House
Property Taxes
$170
HOA Dues
$402
Year Built
2003

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Last updated: 4 months ago (ARMLS #7046893)

Price History

Date / Event Date Event Price
Jul 29, 2026 Sold
Sold
Jul 7, 2026 In contract -
In contract
Jul 2, 2026 Price Decreased $599,000
↓ $11K (1.8%)
Price Decreased
Jun 26, 2026 Listed by Real Broker $610,000
Listed by Real Broker
Jun 14, 2016 Sold
Sold
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Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2003
  • Effective Year Built: 2003
  • Building Count: 1
  • Total Rooms: 9
  • Bedroom Count: 0
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Bathroom Plumbing Fixtures: 11
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 4
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 3
  • Patio Type: 38
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 7,769
  • Total Building Area: 2,520
  • Gross Building Area: 2,520
  • Building Area: 2,520
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 10
  • Heating: 24
  • Heated Square Feet: 2,520
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: POWER RANCH NEIGHBORHOOD 4
  • Land Acres: 0000000178
  • Standard Land Use Code: 1001
  • County Land Use Code: 0131
  • State Land Use Code: 0131
  • Legal Description 1: POWER RANCH NEIGHBORHOOD 4 MCR 513-17

Neighborhood

  • School District Name: Higley Unified District
  • Census Tract: 816200

Zoning

  • Zoning: R-6

Geography

  • Assessors Map Reference: 51317
  • Parcel: 313-01-865
  • Lot: 302
  • Meridian: SEC 12 TWN 2S RNG 6E
  • Municipality: GILBERT
  • Latitude: 33.2751
  • Longitude: -111.698

    Address

  • Full Address: 4238 E Rainbow Dr
  • Address - House Number: 4238
  • Street Direction: E
  • Address - Street Name: Rainbow
  • Address - Suffix Type: Dr
  • State: AZ
  • City Name: Gilbert
  • Carrier Code: R047
  • 4-Digit Zip Code: 9694
  • Zip Code: 85297

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $218,958
  • Tax Rate Code Area: 600602

    Appraisal Valuation

  • Standard Deviation: 0.1466
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 82
  • Final Value: 637,970
  • High Value: 731,502
  • Low Value: 544,439

    Market Valuation

  • Market Total Value: $463,300
  • Market Land Value: $92,600
  • Market Improvement Value: $370,700

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $46,330
  • Assessed Land Value: $9,260
  • Assessed Improvements Value: $37,070

    Sales

  • Current Sale Contract Date: Jun 03, 2016
  • Current Sale Recording Date: Jun 14, 2016
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2016-0412262
  • Previous Sale Recording Date: Nov 04, 2014
  • Previous Sale Contract Date: Nov 03, 2014
  • Previous Sale Amount: $255,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Power Ranch


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Frequently Asked Questions

When was property at 4238 East Rainbow Drive built and last sold?
The property at 4238 East Rainbow Drive was built in 2003 and last sold on Jun 3, 2016 for $335,000.
How much is this home worth?
The estimated value of the home located at 4238 East Rainbow Drive is $589,592.
What are some comparable homes to 4238 East Rainbow Drive?
There are currently no comparable homes to 4238 East Rainbow Drive.