232 S HORNE --, Mesa, AZ 85204, Mesa, 85204 - 2 bed, 2 bath
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Mesa, AZ 85204
This property presents a High-Potential Investment Opportunity with a List Price of $379,000—positioned well above the $360,380 Fair Market Value by -5%. Featuring a 2020 renovation and RM4 Zoning, this Single Family Residence offers significant development upside on a large 9,116 sqft lot. While the interior footprint is compact, the Large Covered Patio and RV Gate maximize utility. Given the recent price reductions and market stagnation, this asset is best suited for Buy-and-Hold Investors or Developers seeking to leverage multi-unit zoning.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 232 S HORNE -- Subject | $379,000* List Price | 2 | 2 | 848 | $425 | - |
A 427 E CRESCENT Avenue Pending | $339,900 List Price | 3 | 2 | 900 | $378 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1933, the property was recently remodeled in 2020 (within the <5y renovation window). It features updated flooring, modern laundry appliances, and a newer mini-split HVAC system, meeting the criteria for mint condition with no immediate maintenance required.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 9116, living area = 848.
The property sits on a generous 9,116 sqft lot and is zoned RM4 for multi-unit use, offering significant upside for investors or developers looking to expand.
Extensively updated in 2020, the home features new flooring and modern finishes, providing a move-in-ready interior that minimizes immediate maintenance costs.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
With only 848 square feet of living area, the home's small footprint may be a constraint for buyers seeking more spacious interior accommodations.
The property has been on the market for 56 days and has undergone three price reductions, suggesting the initial pricing was not aligned with current buyer demand.
Recently Remodeled on a Large Lot. Zoned Multi Unit. new owner to verify. bedroom Two Bath . Updated in 2020. with new Flooring. Large indoor laundry and storage. Large covered Patio with RV gate and 22 Sheds. Eagle park right across the street. Zoned RM4
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 13% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 848 | 1,580.5 | 1% |
| Lot Size | 9,116 | 7,366.5 | 79% |
| Price | $379.0K | $279.1K | 60% |
| Price per sq ft | $447 | $208 | 99% |
| Built year | 1933 | 1980 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 67 | 2369 | 1% |
Jun 5, 2026
$379,000
$384,000
-1% Price Drop
Initial Listing
May 15, 2026
$384,000
$389,000
-1% Price Drop
Initial Listing
Apr 10, 2026
$389,000
Initial Listing