Updated Residential Income
New
For Sale
$329,900
1941 S PIERPONT Drive 1044, Mesa, AZ 85206
Three-bedroom condo with upgraded finishes, private outdoor space, and access to community recreation amenities.
Property Size1,212 SF
Days on Market5
Property Features for 1941 S PIERPONT Drive 1044
General Information
Standard status
Active
Size
1,212 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,406
Amenities
pool
parks
playgrounds
covered patio
Building Details
Building Size
1,212 SF
Year Built
2004
Listing Agency:
Realty ONE Group
(480) 313-6181
Listed By:
Jonas Funston · License #SA563488000
(480) 313-6181
Source:
Gillettegroupaz
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 4 at 5:55AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This three-bedroom condominium, built in 2004, has been recently upgraded with new interior finishes and a practical combination of open living and private retreat spaces. The great room includes high ceilings, wood-look flooring, large windows, and a dining area with bay windows. The galley kitchen features shaker cabinetry, granite countertops, stainless steel appliances, and recessed lighting. Two bedrooms offer walk-in closets and private bathrooms, while a covered back patio provides additional outdoor space.
Residents have access to a community swimming pool, parks, and playgrounds. The property is in Mesa near hospitals, restaurants, shopping, and access to main roads.
Residents have access to a community swimming pool, parks, and playgrounds. The property is in Mesa near hospitals, restaurants, shopping, and access to main roads.
Key Highlights
- Three‑bedroom condominium built in 2004
- Recently upgraded interior finishes
- Great room with high ceilings, large windows, and bay‑window dining area
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 | $18.5k | $15.24 |
| − Vacancy | −$1.2k | −$1.02 |
| EGI | $17.2k | $14.22 |
| − OpEx | −$7.8k | −$6.40 |
| NOI | $9.5k | $7.82 |
1,212 SF · lease $15.24/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$135.4K
$118.5K – $158.0K
NOI $9,478 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$332.2K
$290.7K – $387.6K
NOI $23,255 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 85206, AZ
36,713
Population
19,078
Households
1.9
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
9.4 sq mi
ZIP Area
3,906
Density / Sq Mi
$69,986
Median Household Income
$45,422
Median Earnings
$1,717
Median Rent
$322,600
Median Home Value
Market
Properties on Market for Residential income properties in Mesa
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condo with upgraded finishes, private outdoor space, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 1941 S PIERPONT Drive 1044 Mesa, AZ.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Three‑bedroom condominium built in 2004; Recently upgraded interior finishes; Great room with high ceilings, large windows, and bay‑window dining area
