242 N 87th Place, Mesa, AZ 85207, Mesa, 85207 - 3 bed, 2 bath
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Mesa, AZ 85207
This well-maintained single-family residence is a Strong Value Opportunity, listed at $419,000—positioned well below the $451,990 Fair Market Value by 7%. This valuation gap provides $32,990 in Instant Equity for the buyer. The property maintains a Fair Condition Rating and features an updated kitchen on an oversized 11,047 sqft lot with an RV gate and no HOA. Access to the 9/10 rated Franklin Elementary School adds significant long-term appeal. This is an ideal acquisition for Owner-Occupants seeking a value-add home or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 242 N 87th Place Subject | $419,000* List Price | 3 | 2 | 1,420 | $318 | - |
A 9266 E QUARTERLINE Road Sold | $390,000 | 3 | 2 | 1,395 | $280 | 0.8 mi |
B 9339 E CONTESSA Circle Sold | $440,000 | 3 | 2 | 1,344 | $327 | 0.8 mi |
C 8001 E COLBY Street Sold | $455,000 | 4 | 2 | 1,956 | $233 | 1.0 mi |
D 324 N 88TH Street Active | $485,000 List Price | 4 | 2 | 1,484 | $327 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1980, this property is well-maintained but shows clear signs of its age. While the listing mentions an updated kitchen, the visible interior features include popcorn ceilings, older ceiling fans, and dated light fixtures. The exterior shows some weathered trim and an aged metal shed. It meets the 'fair' criteria as a functional, aged home that has undergone partial updates but lacks the comprehensive renovation required for a 'good' or 'excellent' rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11047, living area = 1420.
Elementary School: Franklin Elementary School (9/10).
The property features a generous 11,047 sqft lot equipped with an RV gate and outdoor storage, providing ample space for recreational vehicles and backyard customization.
Built in 1980, the home may eventually require capital expenditures for aging infrastructure or major systems that have not been recently replaced.
While some nearby specialized schools rank highly, the immediate neighborhood elementary school has a lower rating, which may be a consideration for families.
Three-bedroom, two-bath home shows pride of ownership and has been very well maintained. The updated kitchen complements the comfortable living spaces, and the home sits on an oversized lot with an RV gate. Located just off the 202, it offers convenient access throughout the Valley. The property includes outdoor storage and ample space for all your toys, or you can transform the expansive yard into your own backyard paradise.
No exterior & parking available.
Grades PK-6 • 2.4 mi
Grades PK-6 • 5.1 mi
Grades K-6 • 8.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 3.0 | 49% |
| Square foot | 1,420 | 2,106 | 16% |
| Lot Size | 11,047 | 9,283 | 63% |
| Price | $419.0K | $375.0K | 54% |
| Price per sq ft | $295 | $246 | 71% |
| Built year | 1980 | 2000 | 11% |
| HOA | $0 | $120 | 31% |
| Days on market | 48 | 2430 | 1% |
Mar 5, 2026
$419,000
Initial Listing