1831 W 3RD Place, Mesa, AZ 85201, Mesa, 85201 - 4 bed, 3 bath
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Mesa, AZ 85201
This property presents a Strong Value Opportunity with a List Price of $399,000—positioned well below the $424,244 Fair Market Value by 5%. This valuation gap offers $25,244 in Instant Equity. Featuring a Fair Condition Rating, the home includes a mother-in-law suite and pebble tec pool, providing significant rental income potential. While the interior requires renovation, the strategic location near major employment hubs makes this an ideal acquisition for Buy-and-Hold Investors or Contractors seeking a high-utility asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1831 W 3RD Place Subject | $399,000* List Price | 4 | 3 | 1,392 | $305 | - |
A 1561 W 5TH Street Sold | $450,000 | 3 | 2 | 1,415 | $318 | 0.4 mi |
B 2125 W 2ND Street Pending | $320,000 List Price | 4 | 2 | 1,442 | $222 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1960 and marketed as an 'Investor Special,' the home requires significant rehab. While it features a newer roof and granite counters, the interior shows major issues including mismatched flooring and a bathroom with missing shower tiles and exposed walls, indicating safety and moisture concerns.
Elementary School: Franklin at Brimhall Elementary School (9/10).
The property includes a dedicated mother-in-law suite with a separate entrance, kitchenette, and independent mini-split HVAC, making it an ideal setup for rental income or multi-generational living.
The backyard is highly functional and attractive, featuring a crystal blue pebble tec pool, a covered AZ room-style patio, and an RV gate, which are significant value-adds for the Mesa market.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1392, other record living area = 1092. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
With 4 bedrooms and 3 bathrooms squeezed into just 1,392 square feet, the individual room sizes and common living areas are likely to feel significantly undersized and congested.
The property is zoned for schools with low performance ratings, such as Webster Elementary (2/10) and Westwood High (3/10), which may deter families and impact long-term appreciation.
Investor Special! 4 bedroom, 3 bathroom Mesa home with a large yard and refreshing pebble tec pool! Main home 3 bedrooms and 2 bathrooms. Additionally a mother-in-law suite contains 1 bedroom, 1 bathroom & kitchenette with separate entrance & mini split HVAC! Granite countertops and tile backsplash in the kitchen! Stainless steel appliances including fridge! Tile flooring throughout! Bathrooms have tile surrounds in the showers! Spacious backyard features an AZ room style covered patio, RV gate, block wall and crystal blue pebble tec pool! Newer roof! Aluminum siding! Highly desirable Evans Park neighborhood located near Riverview, Tempe Marketplace, Cubs Stadium and more!
No exterior & parking available.
Grades PK-6 • 0.1 mi
Grades K-6 • 2.5 mi
Grades K-6 • 4.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 1,392 | - |
| Lot Size | 6,604 | - |
| Price | $399.0K | $476.2K |
| Price per sq ft | $287 | $271 |
| Built year | 1960 | 0 |
| HOA | $0 | $0 |
| Days on market | 7 | 2611 |
Jul 15, 2026
$399,000
Initial Listing