1246 E MILLETT Avenue, Mesa, AZ 85204, Mesa, 85204 - 3 bed, 3 bath
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Mesa, AZ 85204
This Turnkey Rental Asset represents a Strong Value Opportunity with a List Price of $360,000—positioned well below the $389,216 Fair Market Value by 7%. This valuation gap provides $29,216 in Instant Equity for an incoming owner. Currently maintaining a Functional Condition Rating, the property offers immediate cash flow with a reliable tenant secured through November 2026. Key highlights include a rare 3-bathroom configuration, a versatile office/den, and premium outdoor amenities like an RV gate and stone fireplace. This is a low-friction acquisition perfectly suited for Buy-and-Hold Investors or Passive Portfolio Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1246 E MILLETT Avenue Subject | $360,000* List Price | 3 | 3 | 1,290 | $302 | - |
A 1926 E DELTA Avenue Sold | $425,000 | 3 | 2 | 1,404 | $303 | 0.8 mi |
B 1340 E CRESCENT Avenue Sold | $274,100 | 5 | 2 | 1,378 | $199 | 0.6 mi |
C 618 E 10TH Drive Sold | $390,000 | 4 | 2 | 1,444 | $270 | 0.8 mi |
D 1346 E ELTON Avenue Pending | $299,999 List Price | 3 | 2 | 1,311 | $229 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1969, this property is in functional condition but shows significant signs of age. The interior features dated elements such as popcorn ceilings, older cabinetry, and laminate countertops in the bathrooms. While the tile flooring is a practical update and the home is well-maintained enough to be tenant-occupied, the kitchen and bathrooms lack modern upgrades and the overall aesthetic reflects a home that has not undergone a major renovation in over 20 years.
With a reliable tenant in place until November 2026, this property offers immediate and guaranteed rental income, making it a highly attractive option for passive investors.
The spacious backyard is exceptionally well-equipped with a large covered patio, an RV gate, and an extended paver patio featuring a stone fireplace, perfect for Arizona entertaining.
The home features a rare three-bathroom configuration for its size and includes a flexible office/den space attached to a bedroom, providing significant functional utility.
The long-term lease agreement through late 2026 prevents immediate possession, effectively excluding traditional owner-occupant buyers from the current market.
Built in 1969, the residence may require more frequent maintenance or future capital expenditures for aging infrastructure compared to newer construction in the area.
Investment Opportunity!! Tenant in place until November 2026. This property features a N/S exposure, well maintained interior features tons of natural lighting, easy tile flooring, 3 beds and 3 baths. Just off the living room is the eat-in kitchen complete with essential appliances, ample cabinets/counter space, plus easy access to the laundry room and backyard. The main bedroom has its own bath for added comfort. Check out the other bedroom that comes with an attached room perfect for an office/den. It also has access to the back. Head out back and discover a spacious backyard, mature trees, a large covered patio, convenient storage, RV gate, and an extended paver patio featuring a stone fireplace.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 82% |
| Square foot | 1,290 | 1,601 | 22% |
| Lot Size | 6,247 | 7,282 | 18% |
| Price | $360.0K | $364.0K | 50% |
| Price per sq ft | $279 | $218 | 68% |
| Built year | 1969 | 1980 | 19% |
| HOA | $0 | $0 | 50% |
| Days on market | 58 | 2246 | 1% |
Feb 23, 2026
$360,000
Initial Listing