423 S RACINE --, Mesa, AZ 85206, Mesa, 85206 - 2 bed, 2 bath
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Mesa, AZ 85206
This Move-In Ready 55+ Residence is listed at $367,500, positioned accurately at its $367,500 Fair Market Value. The property’s primary advantage is a rare 3.125% Assumable FHA Loan, offering significant interest savings over current market rates. Featuring a Condition Rating of 3, the interior includes a Granite Kitchen and a spacious den, while the exterior offers a Covered Patio with mature citrus. Situated near Top-Rated Schools including Franklin Elementary (9/10) and Franklin Junior High (10/10), this home provides financial stability and premium community amenities. It is ideal for Active Adult Homeowners or Value-Conscious Retirees.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 423 S RACINE -- Subject | $367,500* List Price | 2 | 2 | 1,770 | $208 | - |
A 4630 E Capri Avenue Sold | $406,500 | 2 | 2 | 1,760 | $231 | 0.4 mi |
B 719 S PENROSE Circle Sold | $287,000 | 2 | 2 | 1,920 | $149 | 0.7 mi |
C 4151 E CLOVIS Avenue Sold | $430,000 | 2 | 2 | 1,808 | $238 | 1.0 mi |
D 561 S PARKCREST -- Sold | $365,000 | 2 | 2 | 1,497 | $244 | 0.6 mi |
E 4530 E EMELITA Avenue Sold | $344,000 | 2 | 2 | 1,507 | $228 | 0.8 mi |
F 730 S PORTLAND -- Active Under Contract | $335,000 List Price | 2 | 3 | 1,630 | $206 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained. While originally built in 1977, it features several modern updates including granite countertops, a custom tile backsplash, and a stainless steel wall oven in the kitchen. The flooring in the living areas appears updated, and the exterior features low-maintenance artificial turf. Although some elements like the cabinetry, fluorescent lighting, and bathroom fixtures are dated, the overall condition shows minimal wear and tear and consistent upkeep.
Elementary School: Franklin Elementary School (9/10). Middle School: Franklin Junior High School (10/10).
The property features a rare 3.125% assumable FHA loan, offering buyers significant monthly savings and a major competitive advantage over current market interest rates.
Located in the highly sought-after Sunland Village 55+ community, residents have access to an extensive array of amenities including a golf course, fitness center, swimming pools, and pickleball courts.
As a 55+ community residence, the potential buyer pool is strictly limited by age, which may impact long-term resale flexibility compared to non-restricted neighborhoods.
Built in 1977, the property may require more frequent maintenance or updates to its original systems and structural components compared to newer constructions.
PRICE REDUCTION and exceptional opportunity to take advantage of a rare FHA loan assumption at an attractive 3.125% interest rate. This assumable loan offers significant potential savings compared to current market rates, making homeownership more affordable. Buyers must meet FHA qualification requirements and obtain lender approval for the assumption. This is a unique financing advantage that enhances the overall value and appeal of this home. This home is located in the highly sought-after 55+ comm. of Sunland Village! It is a 2-bedroom, 2-bath home plus den. The kitchen features granite countertops, custom tile backsplash, stainless steel wall oven, and ample cabinetry for all your storage needs. It is one of the larger homes in Sunland Village. The spacious primary suite is light and bright, complete with double sliding door closet spaces and walk-in shower. The guest bedroom provides direct access to the backyard, while the den is perfect for a home office, craft room, or flex space. Step outside to enjoy your covered patio, low-maintenance artificial turf, and mature citrus trees--ideal for relaxing or entertaining. Residents of Sunland Village enjoy access to a community clubhouse, golf course, fitness center, swimming pools, pickle-ball and tennis courts, and a variety of social clubs and activities.
No exterior & parking available.
Grades PK-6 • 0.8 mi
Grades PK-6 • 1.1 mi
Grades K-6 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 44% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,770 | 1,704 | 61% |
| Lot Size | 6,739 | 7,475 | 36% |
| Price | $367.5K | $277.0K | 65% |
| Price per sq ft | $208 | $149 | 55% |
| Built year | 1977 | 1985 | 5% |
| HOA | $682 | $290 | 97% |
| Days on market | 207 | 2306 | 4% |
Nov 20, 2025
$367,500
Initial Listing