
Mesa, AZ 85201
This Remodeled Mesa Residence is a High-Potential Investment Opportunity listed at $494,900, reflecting its extensive permitted upgrades and Good Condition Rating. While the $438,817 Fair Market Value represents the current finished living area, the property offers significant upside through a massive 13,634 sqft lot and a separate unfinished basement structure ideal for a rental suite. Located near ASU’s Creative Campus and the 9/10 rated Franklin Elementary School, this home balances immediate turnkey comfort with long-term ROI. It is a strategic acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1134 W 2ND Street Subject | $494,900* List Price | 3 | 2 | 1,736 | $253 | - |
A 1561 W 5TH Street Sold | $450,000 | 3 | 2 | 1,415 | $318 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in move-in-ready condition following extensive permitted renovations. The interior features modern wood-look flooring, updated grey-tone paint, and contemporary light fixtures. The kitchen and bathrooms have been upgraded with granite countertops and newer cabinetry, specifically noted in the primary suite's dual-sink vanity. While the original structure dates to 1950, the quality of the updates and the functional, well-maintained state of the living areas meet the criteria for a 'Good' rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13634, living area = 1736.
Elementary School: Franklin Elementary School (9/10).
The property includes a separate, unfinished basement structure with a private entrance, offering a rare opportunity to create a rental suite, studio, or guest house to maximize ROI.
The separate basement structure is currently unfinished, requiring additional capital investment and permitting to transform it into a functional living or working space.
The property is zoned for local public schools with lower performance ratings, which may impact its appeal to families specifically seeking top-tier educational districts.
FURNITURE INCLUDED! This rare Mesa property offers move-in-ready comfort with built-in value-add potential. The fully fenced lot includes a separate, unfinished basement structure with private backyard entrance--ideal for a rental suite, studio, theater, or workshop. Inside, a dedicated office can easily convert to a third bedroom with minimal updates. No HOA, strong rental demand, & proximity to ASU's Mesa Creative Campus and Downtown Mesa make this a unique opportunity for expansion, income, or creativity. The main home has been tastefully remodeled with permitted upgrades, offering peace of mind and a modern aesthetic. Features include wood-look flooring throughout, granite countertops, built-in appliances, a spacious eat-in kitchen, and an updated primary suite with dual sinks. A large laundry room, carport, RV gate, gated driveway, and mature landscaping add function and curb appeal. The backyard offers a covered patio and room to grow. Just minutes from light rail, schools, parks, shopping, and major freeways, this property blends flexibility, location, and long-term potential in one smart package. Act now before it is too LATE!
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades K-6 • 1.6 mi
Grades K-6 • 3.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,736 | 1,586 | 67% |
| Lot Size | 13,634 | 8,054 | 90% |
| Price | $494.9K | $240.0K | 90% |
| Price per sq ft | $285 | $191 | 78% |
| Built year | 1950 | 1963 | 22% |
| HOA | $0 | $0 | 50% |
| Days on market | 326 | 2324 | 24% |
May 31, 2025
$494,900
Initial Listing