921 W UNIVERSITY Drive 1232, Mesa, AZ 85201, Mesa, 85201 - 2 bed, 2 bath
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Mesa, AZ 85201
This Turnkey Income-Generating Asset is listed at $270,000, positioned as a stable acquisition at its $266,346 Fair Market Value. Currently producing $1,775 per month with a 6.5% Cap Rate, the property maintains a Condition Rating of 3 with modern stainless appliances and vaulted ceilings. The rare private backyard patio, community pool, and proximity to the 9/10 rated Franklin Elementary School provide significant lifestyle and rental appeal. This listing is perfectly suited for Buy-and-Hold Investors or Owner-Occupants seeking a move-in-ready, cash-flowing property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 921 W UNIVERSITY Drive 1232 Subject | $270,000* List Price | 2 | 2 | 956 | $279 | - |
A 921 W UNIVERSITY Drive 1218 Sold | $240,000 | 2 | 3 | 1,046 | $229 | 0.1 mi |
B 921 W UNIVERSITY Drive 1030 Active | $249,900 List Price | 2 | 3 | 1,046 | $239 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1990, the property is move-in ready and has undergone significant interior updates. The kitchen features modern stainless steel appliances and upgraded cabinetry, while the living areas include elegant tile flooring and neutral paint. The bathrooms and bedrooms appear well-maintained with no signs of deferred maintenance, fitting the criteria for a well-kept, updated home.
Elementary School: Franklin Elementary School (9/10).
The property is a turnkey investment currently generating $1,775 per month with an impressive 6.5% cap rate, offering immediate cash flow for investors.
The home features high-quality finishes including stainless steel appliances, upgraded cabinetry, elegant tile flooring, and vaulted ceilings that create a contemporary feel.
The immediate assigned public schools have relatively low ratings, which may be a concern for families and could impact future appreciation.
At 956 square feet, the living space is quite compact for a two-bedroom, two-bathroom layout, which may feel restrictive for some residents.
Investor Opportunity! Currently rented at $1775 per month, cap rate of 6.5%!! Discover effortless living in the Discovery at Continental Orchard! This charming 2-bedroom townhome is perfect for those seeking comfort and convenience. Step into a spacious great room with elegant tile floors, a cozy fireplace, and a soothing neutral palette. The modern kitchen features stainless steel appliances, stylish countertops, upgraded cabinetry, and a breakfast bar. Upstairs, both bedrooms offer plush carpeting and beautiful vaulted ceilings. Unwind in your private backyard with an open patio, ideal for BBQs and relaxation. Enjoy the community pool just steps away and the convenience of an assigned carport. Don't miss your chance to make this inviting home yours!
No exterior & parking available.
Grades K-6 • 0.1 mi
Grades K-6 • 1.4 mi
Grades K-6 • 3.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 956 | 978 | 50% |
| Lot Size | 50 | 910 | 10% |
| Price | $270.0K | $120.0K | 80% |
| Price per sq ft | $282 | $115 | 80% |
| Built year | 1990 | 1986 | 70% |
| HOA | $258 | $220 | 80% |
| Days on market | 195 | 1626 | 10% |
Oct 9, 2025
$270,000
Initial Listing