7950 E Keats Ave #148 · Mesa, AZ 85209

$280,000

2 bd · 2.0 ba · 1,334 sqft · Condo public records · 20 Days on market

Built 1991 $303/mo HOA · 13% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.0/10.0
• DSCR +2.6/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful & Immaculate Updated Home in desirable adult 55+ Community of Sunland Village. This home Features 2 FULL bedrooms, 2 FULL baths, 1-Car attached garage, Separate Family Room AND a Separate Living Room. North/South Lot, Some updates include new paint, built-in stainless steel appliances & newer Refrigerator. Bathrooms have also been updated to include newer vanities. Owner's Suite w/walk-in closet. Shutters throughout. Enjoy your backyard w/ ultimate privacy with an enclosed patio, Wood look flooring throughout with no carpet . Home is EXTREMELY CLEAN. Located close to the freeway. Community features a pool, spa, clubhouse, tennis courts, pickleball, fitness center, walking paths & much more.

Key facts

• Wood flooring
• Oak cabinetry
• Plantation shutters

Tags

• SPLIT BEDROOM LAYOUT
• WOOD FLOORING
• PLANTATION SHUTTERS
• OAK CABINETRY
• STAINLESS STEEL APPLIANCES
• WALK IN CLOSET

Property features AI

Finance

• HOA & community: Homeowner association with monthly fee; Association fee $227 monthly; $917 annually; Association covers grounds maintenance; Community pool; Community spa (heated); Golf; Pickleball courts; Tennis courts; Fitness center; Community media room; Near bus stop

Exterior

• Parking: 1 covered parking space; 1 open parking space; Garage door opener with direct access; 1-car garage
• Utilities: City water; Public sewer
• Home design: Patio home; Attached property; Fee simple ownership
• Construction: Painted brick exterior; Composition roof
• Exterior features: Screened-in patio(s); Sprinklers in front; Desert front landscaping; Grass in back; Automatic front watering timer; Private maintained road

Interior

• Kitchen: Built-in microwave; Refrigerator; Dishwasher; Pantry; Laminate counters
• Bedrooms: 2 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: High speed internet; Double vanity; No interior steps; Pantry; Full bath in master bedroom; Laminate counters
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (19.8% below list).
• Recommended offer: $225k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.4% in Mesa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#6 in AZ, #2,034 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime D.
• Gilbert Unified District (4239) (suburban): math 49% / reading 52% proficiency, ranked #38 of 249 in AZ (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Neely Traditional Academy (math 83% / reading 81%, grade A+, #10 of 1,109 statewide, top 1%, 805 students, 17% FRL); Desert Ridge Jr. High (math 28% / reading 43%, grade F, #62 of 218 statewide, top 29%, 973 students, 26% FRL); Desert Ridge High (math 24% / reading 32%, grade F, #136 of 381 statewide, top 36%, 2,284 students, 23% FRL).
• Market conditions: Rents flat; 171 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 32% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.4% local appreciation)).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,582 (19.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.22%
• DSCR: 0.86
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.44% appreciation · 0.54% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.90×
• Total profit: $-7,454
• Equity at exit: $102,055

10-year hold

• IRR: 1.6%
• Equity multiple: 1.20×
• Total profit: $15,519
• Equity at exit: $140,773

Cash invested: $78,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85209

• Home prices YoY: 0.5%
• Rents YoY: 0.5%
• Active inventory: 171
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,246 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$117
• HOA: −$303
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-211

Break-even live

Break-even rent $2,512

Max offer price $242,810

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-131	+0% $-211	+5% $-290	+10% $-369
Rent	-10% $-388	-5% $-299	+0% $-211	+5% $-122	+10% $-33
Rate	-1.0pp $-70	-0.5pp $-139	base $-211	+0.5pp $-283	+1.0pp $-357

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2064 S Farnsworth Dr #25 Mesa, AZ	2.0	2.0	1011	$1,595	$1.58	23d	1	0.19mi
7950 E Keats Ave Mesa, AZ	2.0	2.0	1228	$1,995	$1.62	25d	1	0.19mi
8020 E Keats Ave #299 Mesa, AZ	2.0	2.0	1679	$2,600	$1.55	45d	1	0.33mi
2311 S Farnsworth Dr #85 Mesa, AZ	2.0	2.0	1332	$3,300	$2.48	5d	1	0.38mi
7521 E Laguna Azul Ave Mesa, AZ	3.0	2.5	1544	$2,315	$1.50	45d	1	0.57mi
7253 E Kiva Ave Mesa, AZ	3.0	2.0	1521	$2,100	$1.38	3d	1	0.66mi
8438 E Keats Ave Mesa, AZ	3.0	2.0	1363	$2,300	$1.69	26d	1	0.73mi
8528 E Desert Ln Mesa, AZ	3.0	2.0	1665	$2,280	$1.37	7d	1	0.88mi
7052 E Keats Ave Mesa, AZ	3.0	2.0	1533	$2,195	$1.43	45d	1	0.96mi
2047 S Jefferson Mesa, AZ	3.0	2.0	1353	$2,375	$1.76	0d	1	0.99mi
2047 S Jefferson Mesa, AZ	3.0	2.0	1353	$2,495	$1.84	45d	1	0.99mi
7014 E Kiva Ave Mesa, AZ	3.0	2.0	1533	$2,185	$1.43	45d	1	1.03mi
8106 E Osage Ave Mesa, AZ	3.0	2.0	1544	$1,550	$1.00	0d	1	1.03mi
7007 E Keats Ave Mesa, AZ	3.0	2.0	1533	$4,000	$2.61	26d	1	1.04mi
7121 E Milagro Ave Mesa, AZ	3.0	2.0	1842	$2,399	$1.30	0d	1	1.05mi
2058 S Longwood Mesa, AZ	2.0	2.0	1408	$1,750	$1.24	45d	1	1.06mi
6959 E Kessler Ave Mesa, AZ	3.0	2.0	1533	$2,150	$1.40	26d	1	1.07mi
8720 E Knowles Ave Mesa, AZ	3.0	2.0	1692	$1,995	$1.18	4d	1	1.08mi
8720 E Knowles Ave Mesa, AZ	3.0	2.0	1692	$1,995	$1.18	0d	1	1.08mi
7246 E Naranja Ave Mesa, AZ	3.0	2.0	1710	$2,495	$1.46	4d	1	1.14mi
2223 S Gordon Mesa, AZ	3.0	2.0	1278	$2,250	$1.76	26d	1	1.18mi
7414 E Onza Ave Mesa, AZ	3.0	2.0	1637	$2,630	$1.61	3d	1	1.18mi
8865 E Baseline Rd #1028 Mesa, AZ	2.0	1.0	1028	$1,500	$1.46	45d	1	1.19mi
8433 E Guadalupe Rd Mesa, AZ	1.0–3.0	1.0–2.0	936	$2,526	$2.70	0d	1	1.19mi
8240 E Obispo Ave Mesa, AZ	3.0	2.0	1655	$2,200	$1.33	20d	1	1.21mi
3922 E Lobo Ave Mesa, AZ	3.0	2.0	1691	$2,200	$1.30	23d	1	1.24mi
6910 E Madero Ave Mesa, AZ	3.0	2.0	1608	$2,050	$1.27	14d	1	1.24mi
8527 E Osage Ave Mesa, AZ	3.0	2.5	1871	$2,200	$1.18	45d	1	1.34mi
8865 E Baseline Rd #555 Mesa, AZ	3.0	2.0	1387	$3,900	$2.81	26d	1	1.39mi
8865 E Baseline Rd #555 Mesa, AZ	3.0	2.0	1387	$3,900	$2.81	21d	1	1.39mi
8462 E Pampa Ave Mesa, AZ	3.0	2.5	1473	$1,995	$1.35	45d	1	1.46mi

HOA detail condo

• Monthly dues: $303 · $3,636/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-05-13
   status Pending 1623-char remark
2. 2026-04-23
   listed $280,000 Active 1623-char remark
3. 2026-04-16
   historical
4. 2026-03-24
   price $289,000
5. 2026-01-31
   price $294,500
6. 2025-11-01
   listed $299,500 Active
7. 2023-03-21
   soldstatus $263,000 Closed

   Show marketing remark (726 chars)

   Beautiful & Immaculate Updated Home in desirable adult 55+ Community of Sunland Village. This home Features 2 FULL bedrooms, 2 FULL baths, 1-Car attached garage, Separate Family Room AND a Separate Living Room. North/South Lot, Some updates include new paint, built-in stainless steel appliances & newer Refrigerator. Bathrooms have also been updated to include newer vanities. Owner's Suite w/walk-in closet. Shutters throughout. Enjoy your backyard w/ ultimate privacy with an enclosed patio, Wood look flooring throughout with no carpet . Home is EXTREMELY CLEAN. Located close to the freeway. Community features a pool, spa, clubhouse, tennis courts, pickleball, fitness center, walking paths & much more.

8. 2023-03-20
   soldstatus $263,000
9. 2023-02-26
   status Pending

   Show marketing remark (726 chars)

   Beautiful & Immaculate Updated Home in desirable adult 55+ Community of Sunland Village. This home Features 2 FULL bedrooms, 2 FULL baths, 1-Car attached garage, Separate Family Room AND a Separate Living Room. North/South Lot, Some updates include new paint, built-in stainless steel appliances & newer Refrigerator. Bathrooms have also been updated to include newer vanities. Owner's Suite w/walk-in closet. Shutters throughout. Enjoy your backyard w/ ultimate privacy with an enclosed patio, Wood look flooring throughout with no carpet . Home is EXTREMELY CLEAN. Located close to the freeway. Community features a pool, spa, clubhouse, tennis courts, pickleball, fitness center, walking paths & much more.

10. 2023-02-22
    listed $259,900 Active

    Show marketing remark (726 chars)

    Beautiful & Immaculate Updated Home in desirable adult 55+ Community of Sunland Village. This home Features 2 FULL bedrooms, 2 FULL baths, 1-Car attached garage, Separate Family Room AND a Separate Living Room. North/South Lot, Some updates include new paint, built-in stainless steel appliances & newer Refrigerator. Bathrooms have also been updated to include newer vanities. Owner's Suite w/walk-in closet. Shutters throughout. Enjoy your backyard w/ ultimate privacy with an enclosed patio, Wood look flooring throughout with no carpet . Home is EXTREMELY CLEAN. Located close to the freeway. Community features a pool, spa, clubhouse, tennis courts, pickleball, fitness center, walking paths & much more.

11. 2020-07-15
    soldstatus $220,000
12. 2009-07-21
    soldstatus $119,800
13. 2009-07-21
    soldstatus $119,800
14. 2009-06-21
    historical
15. 2009-03-02
    listed $129,000
16. 1992-02-13
    soldstatus $70,916
17. 1991-10-01
    soldstatus $70,916

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $1,160 · $97/mo
• Projected year-2 tax: $1,848 · $154/mo
• Expected delta: +$688/yr (+$57/mo · 59.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,950
• − Mortgage interest: −$15,684
• − Property taxes: −$1,160
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,156
• − Management: −$2,156
• − HOA: −$3,636
• − Depreciation: −$8,145
• Taxable loss: −$7,388
• Est. tax savings @ 24.0%: +$1,773
• After-tax cash flow: $-753/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Gilbert Unified District (4239)
• NCES district ID: 0403400
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $74,715
• Composite: 45.55/100
• National rank: #2600
• State rank: #38 of 249 in AZ

Livability — Mesa

• Score: 79/100
• State rank: #6
• US rank: #2034

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime D Employment B- Housing A+ Health & safety C- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mesa, AZ
• County: Maricopa County · 4,537,380 people
• City population: 555,266
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 43,150
• Household income: $84,432
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 972.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 4% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 9% Tagalog/Filipino 1% Chinese 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.44%
• Current HPI: 277.6198
• Rent YoY: ▲ 0.54%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+280.7% since first listed

18 events — show timeline

• 2026-05-29 Sold (MLS) $270,000 ARMLS
• 2026-05-13 Pending — ARMLS
• 2026-04-23 Listed $280,000 ARMLS
• 2026-04-16 Listing Removed — ARMLS
• 2026-03-24 Price Changed $289,000 ARMLS
• 2026-01-31 Price Changed $294,500 ARMLS
• 2025-11-01 Listed $299,500 ARMLS
• 2023-03-21 Sold (MLS) $263,000 ARMLS
• 2023-03-20 Sold (Public Records) $263,000 Public Records
• 2023-02-26 Pending — ARMLS
• 2023-02-22 Listed $259,900 ARMLS
• 2020-07-15 Sold (Public Records) $220,000 Public Records
• 2009-07-21 Sold (Public Records) $119,800 Public Records
• 2009-07-21 Sold (MLS) $119,800 ARMLS
• 2009-06-21 Listing Removed — ARMLS
• 2009-03-02 Listed $129,000 ARMLS
• 1992-02-13 Sold (Public Records) $70,916 Public Records
• 1991-10-01 Sold (Public Records) $70,916 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,160 · +4.0% YoY. Source: county tax records.