One of the East Valley's only true lake communities — private boat docks, interconnected lakes, mature trees, and Gilbert's top-ranked schools. Ryan Moxley helps buyers and sellers navigate this rare and beloved neighborhood.
Ready to find your lake-front home in The Islands? Call Ryan at (480) 227-9143 — Top 1% Agent Nationally • ADRE SA643872000
In a metropolitan area defined by its desert geography, The Islands stands as a genuine anomaly — a neighborhood where you can kayak from your backyard, fish off your private dock, and watch the sun set over a calm lake each evening. This is the promise of The Islands in Gilbert, Arizona, and it is one the community has been delivering to residents for more than three decades.
Developed in phases between 1988 and 2002, The Islands was one of the most ambitious master-planned lake communities in the East Valley, designed from the ground up around a series of interconnected man-made lakes and canals that wind through the western Gilbert landscape near the Higley Road, Warner Road, and Ray Road corridors. The community sits squarely in ZIP code 85234, benefiting from one of the most central positions in the entire Phoenix metro — close enough to Chandler, Mesa, and Tempe employment hubs to be practical for professionals, yet far enough from urban density to feel genuinely serene.
What separates The Islands from virtually every other Gilbert neighborhood is not just the water — it is the maturity. When builders and developers pitch new communities in the Phoenix market, they invariably describe how the community "will feel" once the trees grow in and the landscaping matures. In The Islands, that time has already passed. The trees lining the streets are 20 to 35 years old. The palms tower. The oleanders and sissoos have grown into genuine shade canopies that transform summer afternoons in ways no young neighborhood can. This is a neighborhood that looks and feels established because it genuinely is.
The housing stock reflects that history. Homes in The Islands were built across roughly 15 years, so the architectural diversity is genuine rather than superficial. You will find ranch-style single-story homes from the late 1980s alongside more architecturally elaborate Southwestern and Mediterranean designs from the mid-1990s, and larger, more contemporary suburban designs from the late 1990s and early 2000s. Square footage runs from approximately 1,400 square feet at the low end to 4,500 square feet in the largest lake-front homes, with most of the community in the 1,800 to 3,000 square foot sweet spot.
Approximately 30 to 40 percent of The Islands homes have direct lake frontage, meaning the backyard opens to a lake or canal with a private dock. These lake-front lots are the most coveted addresses in the community and carry significant price premiums — typically $150,000 to $300,000 or more above comparable non-lake homes. The remaining homes are either lake-view lots (they face the water but do not have direct access) or interior lots that benefit from the community's brand, school district, and amenity access without the water premium. All residents, regardless of lot type, enjoy the community's walking and jogging paths that trace the shorelines of the lakes, the tennis courts, basketball courts, multiple parks, tot lots, and picnic areas maintained by the HOA.
The HOA for The Islands manages the lakes themselves — including water quality, lake maintenance, and the rules around watercraft and dock use. HOA fees range from approximately $250 to $450 per month depending on which sub-association a property belongs to and whether the home has a lake-front lot with a private dock. It is essential that buyers obtain the complete HOA governing documents, financial disclosures, and lake-use rules under Arizona Revised Statutes Section 33-1806 before making any purchase commitment. Ryan Moxley ensures every buyer client receives and reviews these documents as part of the due diligence process.
In the entire East Valley — which encompasses hundreds of square miles of master-planned development — you can count the communities with true lake-front homes and private boat docks on one hand. The Islands is among the most established and beloved of them, with 30+ years of proven desirability, community cohesion, and real estate performance.
The uniqueness of the lake lots creates a supply constraint that newer communities simply cannot replicate: once all the lake-front lots in The Islands are developed and owned, no new ones can ever be created. This structural scarcity is the foundation of the community's long-term investment thesis.
The community attracts a notably diverse set of buyers who are united by a shared appreciation for lifestyle. Move-up families upgrading from a starter home who want a "forever neighborhood" with great schools and genuine character. Lake lifestyle seekers who want to paddle out the back door on a Tuesday morning before work. Arizona transplants from waterfront markets in the Midwest and Southeast who want to replicate the lake lifestyle they grew up with, without the humid summers. And empty-nesters who have lived in the broader Gilbert area for years and specifically chose The Islands for their next chapter because the lake views and walkable community paths align perfectly with their stage of life.
The lakes and canals of The Islands are not decorative amenities — they are the defining feature of the community, shaping how residents live, relax, and connect with neighbors. Understanding the lake system is essential for any buyer considering a home in The Islands.
The Islands features multiple interconnected lakes and canal tributaries that wind through the community, providing both aesthetic beauty and recreational access for residents. The lakes were engineered as part of the original master plan and have been maintained by the HOA for more than three decades. Water quality is actively managed, and the lakes support healthy aquatic ecosystems that include sport fish populations.
The interconnected design means that lake-front homeowners with private docks can paddle or electric-motor through the canal system and access multiple bodies of water. This creates a sense of exploration and variety that a single isolated pond cannot provide. Depending on the specific home and lot, a lake-front resident might have views of a wide open lake or a quieter, more intimate canal setting — each has its own appeal, and the price difference between these settings can be meaningful.
The surface area of the lake system creates a significant microclimate benefit. The water naturally moderates the temperature around the lake-front homes, and the evaporative effect keeps the immediate lakeside area measurably cooler during Phoenix summers than the interior of the community or surrounding neighborhoods. This is a genuine lifestyle benefit that lake-front residents frequently cite as one of the best aspects of their location.
The Islands lakes are designated for non-motorized and electric-powered watercraft only. No gasoline-powered motors of any kind are permitted. This rule is strictly enforced by the HOA and is, frankly, one of the features that makes living on the lake so pleasant. The absence of gas motors means the lakes are quiet, the water is clean, and the experience is serene rather than noisy.
Permitted watercraft include:
Buyers should request the specific HOA watercraft rules and any amendments during the due diligence period, as rules can evolve over time and some sub-associations within the broader Islands community may have additional restrictions or slightly different permitted craft lists. Ryan Moxley always ensures his lake-front buyers receive and review these documents before any earnest money becomes non-refundable.
Fishing is one of the most popular activities among residents of The Islands, and the lakes are stocked to support it. Bass and catfish are the most commonly caught species, with bass fishing from private docks being a near-daily activity for many residents during the cooler morning hours. Tilapia are abundant and considered a nuisance species in Arizona warm-water fisheries — they multiply prolifically and provide easy sport fishing for casual anglers and children. Residents often fish from their private docks, from the community's lakeside walking paths, or from small kayaks and paddleboards launched directly from their backyards.
Arizona Game and Fish Department regulations apply to fishing in community lakes — residents should ensure they have current AZ fishing licenses as required by AZGFD rules, even in private community lakes. Stocking programs may be coordinated between the HOA and AZGFD or private vendors; current residents recommend checking with the HOA for the most current stocking schedule and lake regulations.
Not all lake-front lots in The Islands have identical dock situations. Some homes were built with dock structures included in the original construction; others have docks added by subsequent owners; and some lake-front lots have never had a dock installed. Before purchasing any lake-front home, buyers should verify:
One of the most consistent things Ryan hears from clients who purchase lake-front homes in The Islands is that the sunsets exceeded their expectations. The Phoenix metro's legendary sky — enormous, vivid, and constantly changing — reflects off the lake surface and creates an experience that is genuinely difficult to convey in a listing description. If you are considering a lake-front home in The Islands, Ryan highly recommends scheduling a showing near dusk to experience this firsthand.
The Islands was built across approximately 15 years, from the late 1980s through the early 2000s, and that development timeline created genuine architectural diversity within the community. Unlike newer master-planned communities where every home reflects the same builder's current palette of floor plans and elevation packages, The Islands has a mix of styles, eras, and sizes that give it the feel of an organically developed neighborhood rather than a production build-out.
The earliest homes in The Islands reflect the design sensibilities of late 1980s Arizona construction. These tend to be single-story ranch layouts with low-pitched tile roofs, stucco exteriors, and floor plans that prioritized open back-of-house spaces for lake views and outdoor living. Interior layouts often feature formal living and dining rooms alongside a family kitchen-great-room combination, reflecting the transitional design era between formal and open-concept living. Homes from this era typically run 1,600 to 2,400 square feet and sit on lots that were sized generously for the era.
One critical inspection note for homes of this vintage: the original tile roof underlayment is at or past its design lifespan. Tile roofs on homes built in 1988 to 1992 will have 30+ year old felt paper beneath the tile. While the tile itself may look fine, the felt is the waterproofing layer, and aged felt can allow water intrusion during monsoon season. Budget for a full roof evaluation and potential re-felt job on any late-1980s purchase — a cost that can run $8,000 to $20,000 depending on home size but is far cheaper than water damage to the structure.
The mid-decade homes in The Islands are often the most architecturally interesting. This era saw the influence of Southwestern territorial design, Spanish Mission revival, and early Mediterranean styles on Arizona residential construction. Homes from this period frequently feature arched entryways, clay tile roofs with more complex profiles, troweled stucco with deeper reveals, and interior ceiling treatments including vaulted ceilings, coffered designs, and decorative niches that reflect the Southwestern aesthetic.
Floor plans from this era grew in sophistication, with true great rooms, islands in the kitchen, split primary bedroom layouts (placing the owner's suite on the opposite side of the home from secondary bedrooms), and increased emphasis on outdoor living with covered patios that interface directly with the lake. Many of the most sought-after lake-front homes in The Islands are from this era — large enough to accommodate families and modern living, architecturally distinctive, and on lots that were sized to maximize lake exposure.
The final phase of Islands development produced larger homes reflecting the pre-boom era's appetite for square footage. These homes tend to run 2,400 to 4,500 square feet, with two-story designs more common than in earlier phases. Floor plans prioritize open-concept living with great room, kitchen, and dining spaces that flow together, and the master suites in these homes are often substantial — large closets, spa bathrooms, and in lake-front examples, balconies or second-story terraces with elevated lake views that are genuinely spectacular.
From an inspection standpoint, homes from this era may have HVAC systems that are approaching or at end of life — a 20+ year old air conditioning system in Arizona should be evaluated carefully. Units manufactured before 2020 may use R-22 refrigerant, which was phased out in January 2020 and is no longer manufactured. A system using R-22 cannot be topped off with new refrigerant if it leaks — it must be replaced. Any home with pre-2020 HVAC should have this evaluated during inspection.
Many homes in The Islands built from the late 1980s through the early 2000s were constructed on post-tension concrete slab foundations. Post-tension slabs are reinforced with high-tension steel cables cast into the concrete under tension, and they perform well in Arizona's expansive soil conditions. However, they require an absolute critical rule: never cut or drill into a post-tension slab without first obtaining the original engineering drawings and having a structural engineer confirm the safe drilling locations.
Cutting a post-tension cable is catastrophic — the cable releases its tension instantly and can cause serious structural damage and potentially injure workers. This becomes relevant any time a homeowner or contractor wants to add a floor drain, cut a doorway through a slab wall, or perform any concrete work. Ryan Moxley advises every buyer of a potential post-tension slab home to confirm the slab type during inspection and to maintain a copy of any available engineering documents for the property.
Given the age range of the housing stock, many Islands homes have been updated at least once. The most common renovations buyers will encounter include:
When evaluating a renovated home in The Islands, Ryan Moxley always advises clients to look beyond the cosmetic updates and verify that the underlying systems — roof, HVAC, plumbing, electrical, pool equipment — have been maintained or updated to match the cosmetic improvements. A beautifully remodeled kitchen in a home with a 30-year-old roof and original HVAC represents a very different value proposition than a home where all systems have been refreshed.
Lot sizes in The Islands vary considerably based on location and era of development. Interior lots from the late 1980s phase typically run 6,500 to 9,000 square feet. Lake-front lots tend to be larger — often 9,000 to 14,000 square feet or more — because the original developers recognized that the outdoor living potential of a lake-front lot required more space to be realized. The larger lake-front lots accommodate pools, expanded patio areas, landscaping, dock access pathways, and still have room for meaningful lawn space, creating true resort-like backyard environments.
For non-lake-front homeowners in The Islands, the HOA-maintained lakeside walking paths and community parks provide a meaningful amenity substitute — you may not have a private dock, but you can walk to the lake in minutes and enjoy the same views and atmosphere that the lake-front owners wake up to every morning.
This table provides a reference framework for the range of property types available in The Islands. Prices, rents, and HOA fees reflect 2025–2026 market conditions. Arizona is a non-disclosure state — Ryan Moxley provides current MLS-verified data to all active buyer clients.
| Property Type | Size Range (sqft) | Price Range | HOA ($/mo) | Lake Frontage | Private Dock | Typical Rent ($/mo) | Price / sqft | Lot Size (sqft) | Pool Common? | Year Built Range | Ryan's Investment Rating |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Lake-Front SFR (Large) | 3,000–4,500 | $950K–$1.4M | $380–$450 | Yes — wide lake | Yes | $4,200–$5,500 | $280–$340 | 10,000–14,000 | Yes (most) | 1994–2002 | ★★★★★ 5/5 |
| Lake-Front SFR (Standard) | 1,800–3,000 | $680K–$950K | $320–$420 | Yes — canal or lake | Yes (most) | $3,200–$4,200 | $265–$340 | 8,000–12,000 | Many | 1988–2000 | ★★★★★ 5/5 |
| Lake-View SFR (No Direct Frontage) | 1,800–3,200 | $580K–$820K | $280–$360 | View only | No | $2,800–$3,800 | $230–$290 | 7,500–10,000 | Some | 1990–2002 | ★★★★☆ 4/5 |
| Interior SFR (No Water) | 1,400–3,000 | $480K–$720K | $250–$320 | No | No | $2,800–$3,400 | $210–$270 | 6,500–9,500 | Some | 1988–2002 | ★★★★☆ 4/5 |
| Patio Home / Cluster | 1,400–2,000 | $480K–$640K | $310–$400 | Some units | Rare | $2,600–$3,200 | $220–$280 | 4,500–7,000 | Community pool | 1990–1999 | ★★★☆☆ 3/5 |
| Corner Lot SFR | 1,800–3,200 | $520K–$780K | $250–$350 | Some | Some | $2,800–$3,600 | $215–$275 | 8,000–12,000 | Some | 1988–2002 | ★★★★☆ 4/5 |
*All figures are market estimates for 2025–2026. Arizona is a non-disclosure state; MLS access required for verified sold prices. Contact Ryan Moxley for current data.
Ask anyone who lives in The Islands about their daily life and they will likely start with the mornings. Sunrise over a calm lake, with the water reflecting the early Arizona sky, is genuinely one of the most peaceful experiences the Phoenix metro has to offer. Many residents begin their day with a cup of coffee on the back patio watching herons and egrets work the shoreline — wildlife sightings are common in an established lake community. Those with kayaks or paddleboards are often on the water before 7:00 AM, gliding through the canal system before the Arizona heat builds.
The community's walking and jogging paths along the lake shorelines are among the most popular in western Gilbert. Unlike the sidewalks and parks of inland communities, the Islands paths trace the water's edge, giving walkers and runners constantly changing water views and the cooler microclimate generated by the lake surface. Morning walk groups and evening strollers are a constant presence, and the paths create the kind of accidental neighborly interaction that builds genuine community over years and decades.
The Islands has developed a genuine community culture over its 30+ years of existence. Dock parties — gatherings on private docks that extend across the water with neighboring dock owners — are a summer tradition. Fishing tournaments are organized by residents. The community's parks and recreation areas host spontaneous pickup basketball and tennis games, and the HOA has historically organized seasonal community events that bring residents together around the lake common areas.
Long-term residents often cite the sense of community as one of the strongest retention factors. Families who moved in during the early 1990s have watched their children grow up together, and some of those children have returned as adults to purchase homes in the same neighborhood where they grew up. This multi-generational connection to a community is vanishingly rare in the Phoenix metro and adds to the identity and cohesion of The Islands as a neighborhood.
The Islands' location in western Gilbert places it approximately 10 minutes from one of the East Valley's most celebrated dining and entertainment destinations: the Gilbert Heritage District, known locally as "Downtown Gilbert." The Heritage District has evolved from a sleepy agricultural town center into a nationally recognized food and hospitality destination, with more than 50 restaurants, breweries, wine bars, and entertainment venues within walking distance of each other. The Yard — a container park entertainment complex — anchors one end of the district. Postino Wine Bar, Joe's Real BBQ, and Zinburger are neighborhood institutions.
For Islands residents, the Heritage District is the neighborhood's de facto living room for dining out — close enough for a casual weeknight dinner, distinctive enough to impress out-of-town guests, and continuously improving as new concepts continue to open. The proximity to the Heritage District is frequently cited by Islands buyers as a significant lifestyle factor that helps justify the community's price premium over more geographically isolated East Valley communities.
The Islands is ideally positioned for year-round outdoor enjoyment in Arizona's climate. October through April is simply spectacular — the months when all of Phoenix's outdoor recreation occurs and The Islands' combination of water, walking paths, parks, and mature shade trees comes into full expression. The community feels like a resort during these months, with the lakes busy with kayakers and paddleboarders, the paths full of walkers and joggers, and virtually every home's outdoor living space in daily use.
May and June are warm but manageable for early morning and evening outdoor activities. July through September, the peak of Arizona's summer, is when the lake-front premium truly becomes tangible. The evaporative cooling effect of the lake surface measurably reduces temperatures in the immediate lakeside zone, and the orientation of most lake-front homes with covered back patios facing north or east water views means that shaded outdoor lake watching remains possible even during the peak heat months. Many lake-front residents report spending weekend mornings on their back patios during summer with ceiling fans running — a comfort level simply not achievable in a home without the water's cooling effect.
Beyond the Heritage District, The Islands' central location provides excellent access to a range of retail and service options:
The Islands sits in one of the most strategically positioned locations in the East Valley — close to major employment centers, highways, and amenities, without sacrificing the neighborhood's serene residential feel.
Western Gilbert's location near the US-60 (Superstition Freeway) and the Loop 202 (Santan Freeway) gives Islands residents exceptional regional mobility. The Superstition Freeway runs east-west and connects directly to the I-10 and the 101 — meaning downtown Phoenix, the airport, Scottsdale, and the entire North Valley are all reachable within 30 to 45 minutes on normal traffic days. The Loop 202 provides a south-valley loop route that connects to Mesa, Tempe, Chandler, and ultimately the I-10 west toward Goodyear and Buckeye.
For daily commuters, these freeway connections translate to genuine flexibility: Intel's Chandler campus is approximately 20 minutes without traffic; the Arizona State University Tempe campus is 25 minutes; Phoenix Sky Harbor Airport is 30 to 35 minutes; and Scottsdale's primary employment and hotel corridors are 30 to 40 minutes. The location is not an easy walk to any single transit hub — The Islands is a car-dependent community like most suburban Phoenix neighborhoods — but the highway access makes the car dependency far less limiting than many areas farther east or southeast.
Within The Islands itself, walkability is genuinely excellent by Phoenix metro standards. The community's interconnected path system, lakes, parks, and neighborhood streets are designed for pedestrian enjoyment. Residents routinely walk and jog within the community daily. However, getting to stores, restaurants, or other destinations outside the community requires a vehicle — this is typical for all suburban Gilbert ZIP codes.
The closest walkable commercial area outside the community is a limited strip retail node approximately 0.5 miles from the community's edge. For true walkable dining and entertainment, the Heritage District is a 10-minute drive — not walkable for most residents, but close enough that it functions as a true neighborhood amenity rather than a regional destination.
Just 8 minutes from The Islands, the Riparian Preserve at Water Ranch is one of the East Valley's most remarkable natural amenities — a 110-acre wildlife preserve built around seven reclaimed water ponds that has become one of Arizona's top birding destinations. With over 300 bird species recorded and miles of walking paths, it is a regular destination for Islands residents who pair their lake-community lifestyle with nature exploration beyond the neighborhood. The juxtaposition of the community's man-made lakes with the Riparian Preserve's naturalistic ponds creates an unusually rich outdoor recreation environment for a suburban neighborhood.
The Islands is served by the Gilbert Unified School District (GUSD), consistently ranked as one of Arizona's highest-performing school districts and recognized nationally for academic achievement. For families with school-age children, GUSD is frequently the primary reason for choosing Gilbert ZIP 85234 over comparable communities in adjacent cities. The district operates with a commitment to rigorous academics, well-funded extracurricular programs, and competitive athletics — a combination that produces outcomes that college admissions data consistently validates.
Elementary students in The Islands most commonly attend Greenfield Elementary School or Highland Elementary School, both of which carry A-ratings from the Arizona Department of Education's school grading system. These schools consistently rank in the top tier of Maricopa County elementary schools on standardized assessment metrics. Class sizes tend to be manageable, teacher retention is above the state average, and parent involvement rates are high — the latter being a reflection of the community's engaged homeowner demographic.
Gilbert USD's elementary programs feature dedicated art, music, and physical education teachers at the elementary level — a staffing model that many Arizona districts have eliminated in budget cycles but that GUSD has maintained as a core commitment. STEM enrichment programming is available at the elementary level, and the district's gifted education program (GATE) provides accelerated curriculum pathways for qualifying students.
Most Islands students transition to Greenfield Junior High for grades 7 and 8. Greenfield Junior High is recognized for strong academic programs, competitive athletics, and a well-organized transition support system that prepares students for the rigors of Gilbert USD's high schools. The school's elective programming includes band, orchestra, choir, visual arts, drama, and technology courses — a breadth of options that reflects the district's commitment to whole-student development beyond core academics.
Junior high athletics at Greenfield include a full menu of competitive team sports, and the school's fine arts programs regularly produce students who advance to state-level competitions. Parental feedback on the junior high experience in GUSD is consistently among the most positive in the district — the transition from elementary to secondary school is managed thoughtfully and the school culture is notably positive.
Highland High School is one of Gilbert USD's flagship campuses and a consistent destination for The Islands students. Highland carries an A-rating from ADE and offers one of the most comprehensive AP (Advanced Placement) course catalogs in Maricopa County — with 30+ AP courses available, students can pursue college-level credit across virtually every academic discipline before graduating. The school's AP pass rates (scores of 3, 4, or 5 on the 1–5 scale) exceed state and national averages significantly.
Highland's athletics programs are competitive at the 6A (largest division) level across multiple sports. The performing arts programs — band, orchestra, choir, drama, and dance — are school-year anchors that produce multiple community performances and state competition participants annually. The school's Career and Technical Education (CTE) programs span business, healthcare, culinary arts, construction technology, and digital media — providing students with practical skills and industry certifications alongside their academic coursework.
For families relocating to the Phoenix metro who have high schoolers, Highland High School specifically has been cited as a key reason for choosing the Islands ZIP code over other Gilbert or Chandler addresses.
Beyond the Gilbert USD public schools, families in The Islands have access to a range of charter and private school alternatives within a 15-minute drive:
Under Arizona's open enrollment law (ARS Section 15-816), families have the right to apply for enrollment at any school within or outside their home district, space permitting. This gives Islands residents flexibility to pursue schools beyond their default attendance zone assignment. Open enrollment applications are typically accepted in the spring for the following academic year, and competition for seats at top-performing schools like Arizona College Prep can be significant.
For families with young children, the western Gilbert area around The Islands has a strong concentration of early childhood education options. Multiple Primrose Schools, Bright Horizons locations, and independent preschool programs operate within 5 to 10 minutes of the community. Gilbert USD also operates a Pre-K program at select elementary schools for qualifying students. The strong early childhood education infrastructure in the area is another factor in The Islands' appeal for young families who purchase with a long horizon in mind.
It is impossible to discuss The Islands' real estate market without acknowledging the critical role of Gilbert USD school ratings in sustaining demand. Research consistently shows that A-rated school attendance zones command a price premium over comparable homes in lower-rated zones — estimates range from 5% to 15% in various Phoenix metro studies. For Islands homeowners, this school premium acts as a permanent floor under their property values: as long as GUSD maintains its rating (which its track record strongly suggests it will), the school factor continues driving buyer demand and supporting prices even in softer market cycles.
How does The Islands stack up against other lake or water-feature communities in the Gilbert and East Valley market? This table provides an objective comparison framework.
| Community | City | Year Built | Lake Acres (approx) | Lake-Front Homes | Price Range | HOA ($/mo) | Non-Motor Boat | Fishing | School District | Commute to Intel/Chandler | To Downtown Gilbert | Total Homes (approx) | Mature Landscaping | Ryan's Rating |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| The Islands | Gilbert | 1988–2002 | 50+ | Yes (30–40%) | $480K–$1.4M | $250–$450 | Yes | Yes | Gilbert USD | ~20 min | ~10 min | ~800 | Yes — 20–35 yrs | ★★★★★ 5/5 |
| Val Vista Lakes | Gilbert | 1987–1998 | 70+ | Yes (25–35%) | $520K–$1.6M | $300–$500 | Yes | Yes | Gilbert USD / Mesa USD | ~18 min | ~12 min | ~900 | Yes — 25–35 yrs | ★★★★★ 5/5 |
| Dobson Ranch | Mesa | 1970–1985 | 45+ | Yes (limited) | $380K–$750K | $150–$280 | Yes | Yes | Mesa USD | ~20 min | ~15 min | ~4,500 | Yes — 35–50 yrs | ★★★★☆ 4/5 |
| Las Sendas | Mesa | 1995–2012 | Small ponds | Pond-view only | $550K–$1.3M | $200–$380 | No | Limited | Mesa USD | ~25 min | ~20 min | ~2,400 | Partial | ★★★★☆ 4/5 |
| Higley Heights | Gilbert | 2000–2010 | None | No | $420K–$700K | $80–$160 | No | No | Higley USD | ~22 min | ~14 min | ~600 | Partial | ★★★☆☆ 3/5 |
| Layton Lakes | Gilbert | 2004–2018 | 20+ | Yes (15–20%) | $480K–$850K | $160–$280 | Yes | Yes | Higley USD | ~22 min | ~8 min | ~700 | Partial | ★★★★☆ 4/5 |
| Waterston | Gilbert | 2015–present | 15+ | Yes (20–30%) | $650K–$1.2M | $220–$360 | Yes | Limited | Gilbert USD | ~18 min | ~8 min | ~400 | No — 5–10 yrs | ★★★★☆ 4/5 |
| Ocotillo | Chandler | 1990–2005 | 100+ | Yes (20–30%) | $520K–$1.5M | $200–$420 | Yes | Yes | Chandler USD | ~12 min | ~18 min | ~3,000 | Yes — 20–30 yrs | ★★★★★ 5/5 |
*Community data compiled from HOA disclosures, MLS records, and local market knowledge as of 2025–2026. Ryan Moxley can provide current comparison data for any community.
Purchasing a home in The Islands requires a more thorough and nuanced due diligence process than buying in a newer master-planned community. The combination of older construction, lake-front infrastructure, complex HOA structures, and the significant premium commanded by lake lots means that mistakes in the buying process can be very expensive. Ryan Moxley has guided numerous clients through The Islands purchase process and has developed a systematic approach to protecting buyers from the most common pitfalls.
The Islands is governed by multiple HOA layers — a master HOA covering the community as a whole and sub-associations governing specific neighborhoods, phases, or property clusters within The Islands. Before making any offer, Ryan Moxley recommends having a clear picture of:
Under Arizona law (ARS §33-1806), sellers of HOA-governed properties must provide buyers with the CC&Rs, bylaws, rules and regulations, financial statements, and a disclosure of any pending litigation within 10 days of contract execution. Buyers have the right to cancel the contract within 5 days of receiving these documents if anything is unacceptable — Ryan Moxley ensures every buyer understands and protects this right.
Standard home inspections apply, but Ryan Moxley recommends additional focus areas for Islands homes based on their age and characteristics:
Arizona's real estate contract uses the Buyer's Inspection Notice and Seller's Response (BINSR) form, which formalizes the inspection negotiation process. After the inspection period (typically 10 days), the buyer submits a BINSR listing all items they want addressed — through repair, credit, or price reduction — and the seller has 5 days to respond. Understanding BINSR strategy is critical in The Islands, where inspection items can range from cosmetic to structural and where the lake-front premium means buyers have less leverage than in lower-priced markets.
Ryan Moxley's approach to BINSR negotiations in The Islands is strategic: prioritize safety items (electrical, structural, pool barriers) and major cost items (roof, HVAC) over cosmetic requests, and present repair requests with contractor estimates rather than vague demands. Sellers who have priced lake-front homes at the top of the market are more likely to offer credits than to make repairs — Ryan helps clients evaluate whether the offered credit adequately addresses the actual repair costs.
When evaluating a lake-front home in The Islands, the central analytical challenge is determining whether the asking premium over comparable non-lake homes is justified. This requires understanding several variables:
The Islands homes are well within the 2026 conforming loan limit of $806,500 for Maricopa County on many transactions, making conventional Fannie/Freddie financing readily available. Larger lake-front homes above $806,500 will require jumbo financing, which typically requires larger down payments (typically 20–25%) and more rigorous income documentation but is widely available through portfolio lenders active in the Phoenix metro.
Arizona's 2026 conforming limit of $806,500 covers a significant portion of The Islands inventory — most interior and lake-view homes, and many standard lake-front homes — making the community accessible to a broader range of conventional financing. HOA dues are factored into debt-to-income ratios by lenders, so the $250–$450/month HOA fees at The Islands will affect qualifying amounts and should be factored into budget planning early in the pre-approval process.
For investors considering The Islands as a rental property, DSCR (Debt Service Coverage Ratio) loans are an attractive option. DSCR loans qualify based on the rental income the property generates rather than the borrower's personal income — a significant advantage for investors who have complex tax returns or multiple investment properties. DSCR lenders typically require 20–25% down, and the loan programs are particularly well-suited to The Islands lake-front homes where $3,200–$5,500/month rental rates can support strong debt service coverage ratios.
Lake-front homes in The Islands rarely sit on the market for extended periods when priced correctly — the supply of available lake-front lots is structurally limited, and buyer demand from the lifestyle and school-driven segments is persistent. This means buyers need to be prepared to move decisively when the right home appears.
However, not all lake-front listings in The Islands are equivalently priced. Some sellers price optimistically based on peak-market comparable sales that may not reflect current conditions. Ryan Moxley's market knowledge allows clients to identify when a lake-front listing is accurately priced at market versus when there is negotiation room. Interior and lake-view lots tend to have somewhat more pricing flexibility, particularly if the home needs cosmetic or system updates that the seller has not addressed.
The Islands has demonstrated exceptional real estate investment performance over multiple market cycles, driven by three structural advantages that newer communities cannot replicate: scarcity of lake-front lots, Gilbert USD school access, and the maturity premium that established communities command over new construction.
From 2019 through 2023, waterfront homes in The Islands appreciated 45% or more, driven by the confluence of pandemic-era demand for lifestyle-forward properties, limited inventory of lake-front lots, and the surge of relocating buyers who discovered the Phoenix metro during the remote work era. Buyers who purchased Islands lake-front homes in 2018 or 2019 and held through 2022 realized equity gains that, in percentage terms, rivaled any asset class over that period.
The post-2023 normalization has brought The Islands market into a more balanced state, which represents an attractive entry opportunity relative to the peak. Lake-front homes that traded at compressed cap rates during the frenzy of 2021–2022 are now more rationally priced relative to rental income, and buyers can again conduct disciplined underwriting without the compressed-inventory dynamics of the peak market.
Looking forward, the structural appreciation case for The Islands lake-front lots remains compelling: the number of lake-front lots is fixed and permanent, the Gilbert USD school premium shows no signs of declining, and the Phoenix metro's continued population and job growth continues to generate buyer demand. No new lake-front lots will ever be created in The Islands — this is the foundational investment thesis.
The Islands commands some of the strongest per-square-foot rental rates in the Gilbert submarket, driven by the lake-front lifestyle premium and the school district access. Current market data for 2025–2026:
The tenant demographic in The Islands is predominantly professional families — dual-income households with children in GUSD schools who are renting while saving for a purchase or recently relocated. This demographic produces excellent tenants: financially stable, long-term lease signers who treat the property well because they are using it as a true family home. Vacancy rates in The Islands for well-maintained, accurately-priced rentals have historically been very low — often under 2% on an annual basis.
Because Arizona is a non-disclosure state and sale prices are not public record, rental comps can be established through property management company data, MLS rental listings history, and direct market surveys. DSCR lenders operating in Arizona are familiar with this dynamic and work with qualified appraisers and property managers to establish rental income documentation. Ryan Moxley can connect investor clients with DSCR lenders who have specific experience in the Gilbert lake community market and who understand how to value and underwrite lake-front properties.
A typical DSCR underwriting scenario for a lake-front Islands home might look like: purchase price $850,000, 25% down ($212,500), loan amount $637,500 at 7.5% (current market rates for DSCR), monthly P&I approximately $4,460, rental income $4,500/month, DSCR ratio 1.009 — right at the minimum threshold most DSCR lenders require. At $4,800/month rental income, the DSCR improves to 1.076 — firmly qualifying territory. These numbers illustrate why professional advice on both the purchase price and realistic rental income documentation is critical for investor purchases in this community.
For investors who already own investment property elsewhere and are looking to exchange into a higher-quality asset, The Islands lake-front homes are an excellent 1031 exchange target. The 45-day identification period and 180-day close deadline under IRC §1031 create time pressure, but The Islands market typically has enough inventory to identify suitable replacement properties. Ryan Moxley works regularly with 1031 exchange investors and coordinates closely with qualified intermediaries (QIs) to ensure the exchange timeline is met.
Arizona's STR preemption law (ARS §9-500.39) prevents cities and towns from outright banning short-term rentals, but HOA CC&Rs can and often do restrict STRs within private communities. Before pursuing an Airbnb or VRBO strategy in The Islands, buyers must carefully review the HOA governing documents — specifically the CC&Rs — for any STR restrictions. Some Islands sub-associations do restrict short-term rentals, which would make a vacation rental strategy non-viable regardless of state law. Ryan Moxley reviews these provisions for every investor client before any offer is submitted.
The Islands is best understood as a long-term hold asset rather than a quick flip target. The transaction costs of buying and selling (agent commissions, title, transfer costs, staging, repairs for sale) are high relative to the short-term appreciation potential in a normalized market. But for investors with a 5–10+ year horizon, the combination of rental income, structural appreciation of lake-front lots, and the continued desirability of the GUSD school zone creates a compelling compound return profile.
Comparing The Islands to broad Phoenix metro market indices, established lake communities have historically outperformed the broader metro on appreciation in strong markets while showing more resilience in downturns — the lifestyle premium and school access create a floor of demand that prevents the deep corrections that more generic suburban communities can experience when market conditions deteriorate.
The Islands is one of Gilbert Arizona's most distinctive master-planned communities, built between 1988 and 2002 around a series of interconnected man-made lakes and canals in the western Gilbert ZIP 85234 area near Higley Road, Warner Road, and Ray Road. What sets The Islands apart in the Phoenix metro is the genuine waterfront lifestyle it delivers in an otherwise landlocked desert environment. Roughly 30 to 40 percent of the community's single-family homes have direct lake frontage complete with private boat docks — a feature so rare in the East Valley that it draws buyers specifically from waterfront markets in the Midwest, Southeast, and Pacific Northwest who want to replicate that lifestyle in Arizona.
Beyond the water, The Islands offers something equally rare for a Phoenix-area neighborhood: maturity. The trees, shrubs, and landscaping are 20 to 35 years old, giving streets genuine shade and an established, village-like character that no new-construction community can replicate. Add Gilbert's nationally recognized school district, a central location within 20 to 30 minutes of major employment corridors, and a proven 30-year record of holding value through multiple market cycles, and The Islands stands as one of the East Valley's most compelling neighborhoods for buyers seeking both lifestyle and long-term real estate performance. The community's HOA manages the lakes, common areas, and amenities including tennis courts, basketball courts, lakeside walking paths, parks, and tot lots — creating a resort-like environment that residents enjoy every day, not just on weekends.
Lake-front homes in The Islands Gilbert typically range from approximately $700,000 on the lower end for smaller homes on narrower canal lots, up to $1.4 million or more for larger homes with wide lake exposures, private boat docks, extended patios, updated finishes, and backyard pools. The lake-front premium over comparable non-water lots in the same community runs $150,000 to $300,000 or more depending on the quality of the lot — how wide the water view is, whether the home sits on the main lake or a tributary canal, and whether an existing dock structure is in place and in good condition.
Interior homes in The Islands (those without water frontage) typically range from $480,000 to $720,000 depending on square footage, condition, and renovation status. Lake-view homes — those that face the water but lack direct water access — fall in between at roughly $580,000 to $820,000. The community's overall median, blending all lot types, hovers in the $625,000 to $750,000 range. Keep in mind that Arizona is a non-disclosure state, meaning sale prices are not public record, so the most accurate current pricing requires MLS access — which Ryan Moxley provides to all clients exploring The Islands. For buyers who have dreamed of owning a lakefront home but assumed it was out of reach in the Phoenix market, The Islands often surprises with its relative value compared to true waterfront markets in coastal states.
The Islands lakes are designed for non-motorized and electric-powered watercraft only — no gasoline-powered motors of any kind are permitted on the community lakes or canals. This is strictly enforced by the HOA and is one of the features that makes living on the lake so pleasant. Without gas motors, the lakes are quiet, the water stays clean and clear, and the experience is genuinely serene. Residents commonly use kayaks and sea kayaks (single and tandem), stand-up paddleboards (SUPs), canoes, pedal boats, small electric trolling motor boats within HOA-specified wattage limits, inflatable rafts and floating platforms, and any human-powered paddlecraft.
The lakes are also stocked for fishing, with bass, catfish, and tilapia regularly caught by residents fishing from their private docks, from the HOA-maintained lakeside walking paths, or from kayaks and paddleboards launched from their backyards. Arizona Game and Fish Department regulations apply to fishing, including license requirements. Before purchasing any lake-front home in The Islands, buyers should request the complete HOA watercraft rules, dock permit documentation, and any sub-association amendments during the due diligence period. Ryan Moxley ensures every lake-front buyer receives and reviews these documents before any earnest money becomes non-refundable, as required by Arizona's HOA disclosure law (ARS §33-1806).
The Islands is served by the Gilbert Unified School District (GUSD), consistently ranked as one of Arizona's top school districts and recognized nationally for academic achievement and student outcomes. Elementary students in most of The Islands attend Greenfield Elementary School or Highland Elementary School, both A-rated by the Arizona Department of Education. Middle school students typically feed to Greenfield Junior High, and high school students attend Highland High School — one of Gilbert USD's flagship campuses with 30+ AP courses, competitive athletics at the 6A level, strong performing arts programs, and CTE (Career and Technical Education) pathways in business, healthcare, culinary arts, and digital media.
Highland High School specifically is a major draw for families relocating to the Phoenix metro who have high school-age children — its college placement outcomes, AP participation rates, and breadth of extracurricular options compare favorably with highly rated suburban high schools nationally. Beyond the public system, Islands residents have charter and private school options within a 15-minute drive including Arizona College Prep, Valley Christian Schools, Gilbert Classical Academy, Basis Chandler, and Xavier College Preparatory. Arizona's open enrollment law (ARS §15-816) also gives families the right to apply for enrollment at any public school, space permitting, adding flexibility beyond the default attendance zone. The GUSD school rating is consistently cited by Islands homeowners as one of the top three reasons they chose this community and one of the top reasons they stay.
The Islands consistently outperforms newer Gilbert communities on several key investment metrics, particularly for lake-front lots. From 2019 through 2023, waterfront homes in The Islands appreciated 45% or more, driven by the combination of genuinely limited supply — you cannot create new lake-front lots in an established community — and surging demand from remote workers and relocating buyers who discovered the Phoenix metro's waterfront lifestyle options. The scarcity factor is the single most important investment driver: there are a finite number of lake-front lots in The Islands, and that number will never increase. By contrast, newer Gilbert communities like Layton Lakes or Waterston are still adding lots and homes, which introduces new supply competition that can limit appreciation velocity.
On the rental side, The Islands commands $2,800 to $5,500 per month depending on size and lake frontage, with Gilbert USD schools creating a deep pool of long-term family tenants who renew leases year after year. Interior lots in The Islands also benefit from the community's brand premium and school access, typically appreciating in line with or slightly above the broader Gilbert market. The main investment nuance is that older homes in The Islands require more maintenance capital — roof underlayment, HVAC systems, plumbing, and electrical all have longer service histories and require budget discipline. Buyers who properly underwrite the deferred maintenance position of an Islands home and price their offer accordingly typically find excellent risk-adjusted returns over a 5–10 year hold period. Ryan Moxley helps investor clients build accurate total cost of ownership models before any purchase commitment.
Ryan Moxley specializes in the East Valley's premier neighborhoods, including The Islands and other Gilbert lake communities. With deep knowledge of the Islands' lake-front market, HOA structure, inspection priorities, and investment dynamics, Ryan helps buyers identify the right home and negotiate the best possible terms — and helps sellers position their lake-front properties to command top dollar.
Whether you're buying your first lake-front home or selling an established Islands property, Ryan Moxley is ready to help. Reach out today for a private conversation.
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