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$440,000

Beds
3
Baths
2.0
sq ft
1,221

1506 East Monroe Street, Phoenix, AZ 85034

1506 East Monroe Street

Phoenix, AZ 85034

  • 9 days on market
    • Open house Nov 09
Nestled in the heart of downtown Phoenix, this updated 3-bedroom, 2-bathroom home offers a blend of charm and opportunity. With sought-after R-5 zoning, the property is primed for multi-family development, making it an ideal investment or house hacking opportunity—live in one part while renting out the rest to offset your mortgage. Recent updates include wide plank flooring, kitchen and bathroom remodels, and a roof refresh in 2020 and 2024. Large windows fill the home with natural light. The spacious backyard features a 10x10 concrete pad and endless possibilities for your vision. Close to top dining spots and entertainment venues, this home is move-in ready or ready for your next development project. Don't miss out on this fantastic opportunity in a rapidly growing area!

Details

Property type

Single Family Residence

Est. home value

$341,085

Lot size

6,750 sq ft

Price per sq ft

$361

Year built

1941

Annual property taxes

$2,082

Price History

10/30/2024
ArizonaRegional

ArizonaRegional #6777514

Listed
$440,000
+141.1%
09/17/2020
ArizonaRegional

ArizonaRegional #6112831

Sold
$182,500

Schools & Community

Neighborhood: 

Central City

Elementary school: 

ASU Preparatory Academy - Polytechnic Elementary

Middle school: 

ASU Preparatory Academy - Phoenix Middle School

High school: 

ASU Preparatory Academy - Phoenix High School

High school district: 

Phoenix Union High School District

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$119,461
Asking price
$440,000
Closing costs (~8% of asking)
-$35,200
Est. remaining loan balance
-$285,339
Cash to seller
$119,461

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Movement Mortgage

Loan start date

May 2021

Original loan amount

$307,500

Est. remaining balance

$285,339

Interest rate

3.17%

Loan type

New Conventional, 30 year

Seller

Scott Carpenter

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/08/2024 at 11:50 AM

Listing updated: 11/07/2024 at 3:30 PM

Listed by: Preston Dean Richardson, Realty ONE Group Mountain Desert Phone #: (928) 862-4035

MLS: ArizonaRegional #6777514

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