Real Estate Investing in Mesa, Arizona (85204)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85204 (Mesa, AZ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Mesa, AZ (85204)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 85204 Mesa
Not every below-median market is a bargain. Mesa's 85204 ZIP reflects signals that favor experienced operators who can absorb the risk $393K pricing implies.
In practical terms, the numbers look inviting — $393K purchase price, 0.0% nominal cap — the work to hit that pro forma in 85204 is substantial and deserves full respect.
Nearby ZIPs in Mesa have seen price recovery that 85204 has not matched. Maricopa County data supports the view that the spread is structural rather than temporary.
Resident income in 85204 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 85204 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Mesa:
Property Strategy for 85204
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $320,006 | $1,700 | 3.8% | +7.5% | $160,003 |
| 3BR | $390,410 | $2,270 | 4.2% | +7.2% | $130,137 |
| 4BR | $437,966 | $2,510 | 4.1% | +7.0% | $109,491 |
| 5BR | $558,708 | — | — | +7.0% | $111,742 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 85204 Compare?
| Metric | 85204 | Mesa | Phoenix-Mesa-Chandler, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $392,622 | $441,915 | N/A | $419,643 |
| 5-Year CAGR | 2.7% | 2.6% | N/A | 6.5% |
| Avg Rent | $1,414 | $1,726 | N/A | - |
| Cap Rate | 2.8% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 85204 (Mesa, AZ). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 85204 (Mesa, AZ)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Maricopa County
Manage rentals here? List your business →Active Renter Property Management offers rental property management services in Phoenix, Arizona, including a 6-month tenant guarantee. summary from their website
Arête Realty and Property Management, LLC offers property management services and real estate expertise in Glendale, Avondale, Chandler, Mesa, Gilbert, Sun City, Paradise Valley, Scottsdale, and Peori summary from their website
Arizona Community Management Services offers a comprehensive suite of services for Association leaders, including board training, financial management, and covenants enforcement, with decades of exper summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $392,622 |
| Monthly Rent | $1,414 |
| Price-to-Rent | 23.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | -0.1% ▼ |
| 3-Year CAGR | +0.4% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | -11.8% ▼ |
| 3-Year CAGR | -4.0% ▼ |
| 5-Year CAGR | -1.2% ▼ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 85204
Population: 65,018
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 85204
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,463 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong are rents in Mesa, AZ?
Rent in Mesa, AZ is around $1,414/mo. The resulting rent-to-value relationship with $393K pricing is reasonable for most investor models.
What is the average home sale price in Mesa, AZ?
Mesa, AZ home values average about $393K. That price point suits investors targeting rentals with $1,414/mo in monthly income.
How strong is Mesa, AZ for real estate investors?
Our data puts Mesa, AZ at 3.0/5 for investability. Home prices of $393K and rents around $1,414/mo create a solid backdrop for investor activity.
Do rentals sit vacant long in Mesa, AZ?
Mesa, AZ vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What real estate strategy is ideal for Mesa, AZ?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Mesa, AZ. The numbers - $393K homes against $1,414/mo rents - support that play.
You know 85204 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 85204 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 85204 ranks in Phoenix-Mesa-Chandler, AZ
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 85204 (Mesa)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 85204 (Mesa, AZ).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.