1655 E 1st Place, Mesa, AZ 85203, Mesa, 85203 - 5 bed, 3 bath
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Mesa, AZ 85203
This Income-Generating Residential Asset is listed at $435,000, offering a transparent entry point at its $435,000 Fair Market Value. The property boasts a high-capacity 5-bedroom, 3-bathroom layout on an expansive 12,930 sqft double lot, providing ample space for an ADU or guest house. While currently holding a Condition Rating of 4 due to its 1955 infrastructure, the home generates steady cash flow and features "solid bones" for future modernization. This versatile property is a strategic acquisition for Buy-and-Hold Investors or Multi-generational Buyers looking for a value-add opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1655 E 1st Place Subject | $435,000* List Price | 5 | 3 | 2,286 | $190 | - |
A 323 N HUNT Drive E Sold | $450,000 | 4 | 2 | 1,842 | $244 | 0.2 mi |
B 1738 E ENROSE Street Sold | $480,000 | 3 | 2 | 2,605 | $184 | 0.9 mi |
C 731 N ORACLE Street Sold | $410,000 | 4 | 2 | 2,220 | $185 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1955, this property is aged and shows signs of dated infrastructure. While the listing describes 'solid bones' and the home is currently functional enough to be rented, it has not undergone a recent comprehensive renovation. The exterior appears maintained, but the property analysis and description indicate a need for modernization of major systems and cosmetic updates to meet contemporary standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12930, living area = 2286.
The property is currently rented and generating steady cash flow, making it an attractive turnkey opportunity for investors seeking immediate returns.
The oversized 12,930 sqft lot includes an RV gate and ample space for a guest house or ADU, offering significant value-add and expansion potential.
Built in 1955, the property likely requires modernization of major systems and cosmetic updates to meet contemporary buyer expectations.
The emphasis on 'potential' and 'solid bones' suggests the home may need significant capital improvement to achieve its full market appreciation.
Don't miss this rare opportunity to own a property with massive potential on a double size lot, currently rented and generating income. This spacious home offers multiple living areas, a 2-car garage, and an RV gate with plenty of room for additional parking or even an ADU/guest house. The large backyard provides endless possibilities, ideal for expanding, entertaining, or creating your dream outdoor retreat. With solid bones and minimal maintenance needs, this property is a smart choice for investors looking for steady cash flow or long-term appreciation. Centrally located near shopping, freeways, and schools this is a prime Mesa location with room to grow.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 80% |
| Baths | 3.0 | 2.0 | 55% |
| Square foot | 2,286 | 2,283 | 51% |
| Lot Size | 12,930 | 10,866 | 64% |
| Price | $435.0K | $410.0K | 55% |
| Price per sq ft | $190 | $215 | 44% |
| Built year | 1955 | 1981 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 161 | 2132 | 4% |
Nov 12, 2025
$435,000
Initial Listing