1500 W Rio Salado Street 135, Mesa, AZ 85201, Mesa, 85201 - 3 bed, 2 bath
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Mesa, AZ 85201
This Value-Add Townhouse represents a Strong Value Opportunity with a List Price of $249,900—positioned well below the $276,228 Fair Market Value by 9%. This valuation gap provides $26,328 in Instant Equity. While maintaining a Condition Rating of 4, the property offers significant upside through cosmetic modernization of its 1974 interior. Located minutes from ASU, Cubs Stadium, and major freeways, this home includes a private patio and is perfectly suited for Buy-and-Hold Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1500 W Rio Salado Street 135 Subject | $244,900* List Price | 3 | 2 | 1,166 | $240 | - |
A 525 N MAY Street 9 Sold | $230,100 | 3 | 2 | 936 | $246 | 0.8 mi |
B 510 N ALMA SCHOOL Road 141 Sold | $290,000 | 3 | 2 | 1,118 | $259 | 0.5 mi |
C 225 N STANDAGE -- 30 Sold | $242,760 List Price | 3 | 3 | 1,332 | 0.8 mi | |
D 510 N ALMA SCHOOL Road 257 Sold | $247,500 | 2 | 2 | 944 | $262 | 0.5 mi |
E 1455 N ALMA SCHOOL Road 29 Active | $250,000 List Price | 2 | 1 | 1,106 | $226 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974, the property is over 50 years old with a kitchen renovation that appears to be 20+ years old (oak cabinets, laminate countertops). While functional and move-in ready, the interior is dated with popcorn ceilings and older carpeting, indicating a need for cosmetic updates and modernization.
Strategically located near the Loop 101, US 60, and Loop 202, providing exceptional commuter access to Phoenix Sky Harbor Airport, ASU, and major employment hubs.
Residents are minutes away from premier shopping and leisure destinations, including Mesa Riverview, Tempe Marketplace, and the Cubs Spring Training Stadium.
Offered at $249,900, this 3-bedroom townhome represents a high-value opportunity for first-time buyers or investors seeking entry into the Mesa market.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =37766520, other record lot size in square feet = 867.
Built in 1974, the property may require modernization of its original systems and aesthetic finishes to meet contemporary buyer expectations.
Featuring only 1.5 bathrooms for a 3-bedroom layout, the configuration may be less convenient for larger households or multi-tenant living situations.
Great opportunity to own this 3-bedroom, 1.5-bath townhome in an unbeatable location. Conveniently situated just minutes from the Loop 101, US 60, and Loop 202, this home offers easy access to shopping, dining, entertainment, and commuting throughout the Valley. Enjoy being close to Cubs Stadium, Mesa Riverview, Tempe Marketplace, ASU, and only about 10 minutes from Phoenix Sky Harbor Airport.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 2.0 | 77% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,166 | 1,130 | 71% |
| Lot Size | 37,766,520 | 819 | 97% |
| Price | $244.9K | $221.0K | 55% |
| Price per sq ft | $210 | $221 | 42% |
| Built year | 1974 | 1985 | 19% |
| HOA | $195 | $189 | 58% |
| Days on market | 47 | 2664 | 3% |
May 11, 2026
$244,900
$249,900
-2% Price Drop
Initial Listing
Apr 20, 2026
$249,900
Initial Listing