Updated 55+ Condo with Carport
For Sale
$200,000
131 N Higley Road #218, Mesa, AZ 85205
Updated 2 bed, 2 bath condo in a 55+ community with newer windows, sliding door, and a carport storage room.
Property Size900 SF
Price / SF$222.22
Days on Market38
Property Features for 131 N Higley Road #218
General Information
Standard status
Active
Size
900 SF
Property subtype
Apartment
Building Details
Building Size
900 SF
Year Built
1964
Listing Agency:
Stratton Vantage Property Management
(480) 440-6134
Listed By:
Mary C. Buchli · License #SA646127000
(480) 440-6134
Source:
Aznewhorizonrealty
Added: Jun 26
Changed: Jul 26
Last Checked: Aug 1 at 11:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stratton Vantage Property Management
Investment Insights
Based on property information with market context.
Updated lock-n-leave condo in the 55+ community of Casa De Paz, offered as a 2-bedroom, 2-bath residence. The interior features new flooring and baseboards, fresh interior paint, and updated kitchen and bath finishes, including quartz countertops, a matte white geometric backsplash, and new tiled shower and tub areas. The home is equipped with new stainless appliances, brushed nickel hardware, ceiling fans, and a sleek electric fireplace. Additional improvements include newly installed energy-efficient windows, a new sliding glass door, and newer air conditioning. Furnishings may be available on a separate bill of sale for a turnkey option. A carport includes a separate storage room.
The property is located at 131 N Higley Road #218 in Mesa, Arizona (Casa De Paz community).
Designed for comfortable, low-maintenance living, this condo combines updated finishes with practical interior upgrades such as the fireplace and recent HVAC and window improvements.
The property is located at 131 N Higley Road #218 in Mesa, Arizona (Casa De Paz community).
Designed for comfortable, low-maintenance living, this condo combines updated finishes with practical interior upgrades such as the fireplace and recent HVAC and window improvements.
Key Highlights
- Updated 2 bed, 2 bath condo in a 55+ community (Casa De Paz), built in 1964
- New energy‑efficient windows and a new sliding glass door for updated outdoor access/view
- Remodeled kitchen and baths with quartz countertops, stainless appliances, and updated brushed nickel fixtures
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.7k | $15.24 |
| − Vacancy | −$919 | −$1.02 |
| EGI | $12.8k | $14.22 |
| − OpEx | −$5.8k | −$6.40 |
| NOI | $7.0k | $7.82 |
900 SF · lease $15.24/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$100.5K
$88.0K – $117.3K
NOI $7,038 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.7K
$215.9K – $287.8K
NOI $17,269 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 85205, AZ
44,137
Population
23,473
Households
1.9
Avg Household Size
48
Median Age
30%
College-Educated
94%
High-School Grad
10.1 sq mi
ZIP Area
4,370
Density / Sq Mi
$71,294
Median Household Income
$46,378
Median Earnings
$1,363
Median Rent
$301,200
Median Home Value
Market
Properties on Market for Residential income properties in Mesa
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated 2 bed, 2 bath condo in a 55+ community with newer windows, sliding door, and a carport storage room.
Where is this residential income property located?
The property is located at 131 N Higley Road #218 Mesa, AZ.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Updated 2 bed, 2 bath condo in a 55+ community (Casa De Paz), built in 1964; New energy‑efficient windows and a new sliding glass door for updated outdoor access/view; Remodeled kitchen and baths with quartz countertops, stainless appliances, and updated brushed nickel fixtures
