tomo logo

$895,000

Beds
6
Baths
6.0
sq ft
2,462

1708 East Verde Lane, Phoenix, AZ 85016

1708 East Verde Lane

Phoenix, AZ 85016

  • 45 days on market
    • Price drop $2,000↓
For investors seeking an IMMEDIATE INCOME generation with no additional investment required! 2023 average occupancy rate 93%. Current Airbnb rating 4.85 out of 5. CAP RATE 9.64%!!! Possible to enter with 5% DOWN! Meticulously RENOVATED 5-UNIT Short-Term Rental in Central Phoenix! Comes with over $5,000 in Bookings. Nestled in one of Phoenix's most DESIRABLE LOCATIONS with immediate access to HWY-51, 2 min drive to Phoenix Children's Hospital, 8 min drive to Biltmore Fashion Park, top-rated dining, and vibrant nightlife. This rental is a top choice of traveling nurses! Each unit is designed to provide guests with comfort and style, ensuring HIGH OCCUPANCY RATES. Every unit features a modern Kitchen, Bath, and separate Private Access. A well-maintained shared outdoor space with seating, hammock, fire pit and BBQ facilities creates an inviting atmosphere for relaxation. Convenient laundry facility w/washer & dryer is available for guest use.

Details

Property type

Single Family Residence

Est. home value

$695,555

Lot size

8,215 sq ft

Price per sq ft

$364

Year built

1950

Annual property taxes

$3,364

Price History

09/13/2024
ArizonaRegional

ArizonaRegional #6746455

Price change
$895,000
-0.22%
08/22/2024
ArizonaRegional

ArizonaRegional #6746455

Listed
$897,000
+40.16%
05/01/2023
ArizonaRegional

ArizonaRegional #6506250

Sold
$640,000

Schools & Community

Neighborhood: 

Encanto

Elementary school: 

Larry C Kennedy School

Middle school: 

Larry C Kennedy School

High school: 

Camelback 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

$224,889
Asking price
$895,000
Closing costs (~8% of asking)
-$71,600
Est. remaining loan balance
-$598,511
Cash to seller
$224,889

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

Seller’s Loan History

Lender

Fairway Independent Mortgage Corp

Loan start date

April 2023

Original loan amount

$608,000

Est. remaining balance

$598,511

Interest rate

6.65%

Loan type

New Conventional, 30 year

Seller

Natalia Yalin and Melih Yalin

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: 10/05/2024 at 5:30 PM

Listing updated: 09/13/2024 at 1:49 PM

Listed by: Natalia Yalin, eXp Realty Phone #: (888) 897-7821

MLS: ArizonaRegional #6746455

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