1559 W Mercer Ln Phoenix, AZ 85029
North Mountain Village Neighborhood
--
Bed
--
Bath
3,227
Sq Ft
4,312
Sq Ft Lot
Highlights
- Heated Community Pool
- Ceramic Tile Flooring
- Ceiling Fan
- Sunnyslope High School Rated A
- Central Heating and Cooling System
About This Home
As of September 2023ATTENTION BUYERS - Have you considered the investment strategy of an FHA purchase of a multi-unit building?
ATTENTION INVESTORS - Ask us how to save hundreds on your monthly payment, seller is willing to participate in rate buydown and increase your ROI.
This Fourplex has been very well maintained and has undergone many recent updates. All units are very spacious 2 bedrooms, 2 full bathrooms with a fireplace in all four! Both downstairs units have their own backyard & upstairs units have vaulted ceilings and private balconies!
All appliances are landlord owned and convey with the property. The roof was replaced last year and the exterior was just painted last month. See documents tab for list of updated appliances and HVAC systems/components.
100% occupancy in this building with room to increase rates at renewal time. One unit is expiring in October which makes it ideal for a buyer needing to occupy or the next unit to see an increase in rent.
Last Agent to Sell the Property
Evolution Real Estate, LLC Brokerage Email: lindsay@evolutionaz.net License #BR579474000 Listed on: 07/12/2022
Last Buyer's Agent
Non-MLS Agent
Non-MLS Office
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,711
Year Built
- Built in 1984
Home Design
- Wood Frame Construction
- Tile Roof
- Foam Roof
- Stucco
Interior Spaces
- Ceiling Fan
Flooring
- Carpet
- Ceramic Tile
Parking
- 8 Parking Spaces
- Carport
- Free Parking
- Paved Parking
Schools
- Shaw Butte Elementary School
- Mountain Sky Middle School
- Greenway High School
Utilities
- Central Heating and Cooling System
- Master Water Meter
Listing and Financial Details
- The owner pays for trash collection, water, sewer
- Tax Lot 17
- Assessor Parcel Number 159-14-083
Community Details
Overview
- 4 Units
- Building Dimensions are 68' x 63'
- Muy Felices Casas Lt 1 20 Tr A G Subdivision
Recreation
- Heated Community Pool
Building Details
- Operating Expense $12,059
- Gross Income $55,200
- Net Operating Income $37,336
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 18, 2023
Closed on
Sep 28, 2023
Sold by
Novus Holdings Lllp
Bought by
Phoenix Capital Investments Llc
Seller's Agent
Bea Lyman
Keller Williams Integrity First
Buyer's Agent
David Arustamian
Russ Lyon Sotheby's International Realty
List Price
$690,000
Sold Price
$550,000
Premium/Discount to List
-$140,000
-20.29%
Views
9
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$105,667
Avg. Annual Appreciation
10.11%
Purchase Details
Listed on
Jul 12, 2022
Closed on
Dec 6, 2022
Sold by
Kimble Timothy J and Kimble Shauna K
Bought by
Novus Holdings Lllp
Seller's Agent
Lindsay Baker
Evolution Real Estate, LLC
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$699,950
Sold Price
$660,000
Premium/Discount to List
-$39,950
-5.71%
Views
9
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-20.16%
Original Mortgage
$430,000
Interest Rate
6.95%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 22, 2010
Sold by
Kimble Christina
Bought by
Kimble Donald W
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$97,500
Interest Rate
5.02%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 18, 2010
Sold by
Kimble Donald W and Kimble Timothy
Bought by
Kimble Timothy J and Kimble Shauna K
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$97,500
Interest Rate
5.02%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 21, 2009
Sold by
Kimble Christina M
Bought by
Kimble Donald W
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,500
Interest Rate
4.88%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jul 10, 2007
Sold by
Hibbert Chris and Stucke Janet
Bought by
Zaisan Llc
Purchase Details
Closed on
May 25, 2005
Sold by
Hibbert Christopher T
Bought by
Hibbert Christopher T and Stucke Janet A
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 23, 2005
Sold by
Hernandez Antonio and Hernandez Sandra B
Bought by
Hibbert Christopher T
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Mar 26, 2003
Sold by
Clearwater Jeffrey and Clearwater Gerry
Bought by
Hernandez Antonio and Hernandez Sandra B
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$184,500
Interest Rate
5.78%
Mortgage Type
New Conventional
Purchase Details
Closed on
Feb 17, 1999
Sold by
Norlien Kenneth H and Norlien Rosa I
Bought by
Clearwater Jeffrey and Clearwater Gerry
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$122,400
Interest Rate
6.73%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 27, 1995
Sold by
Skene Alan B and Rufli Ursula Skene
Bought by
Norlien Kenneth H and Norlien Rosa I
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$74,200
Interest Rate
7.36%
Mortgage Type
New Conventional
Similar Homes in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $550,000 | Title Alliance | |
| Warranty Deed | $660,000 | Greystone Title | |
| Interfamily Deed Transfer | -- | Equity Title Agency Inc | |
| Interfamily Deed Transfer | -- | Equity Title Agency Inc | |
| Interfamily Deed Transfer | -- | Equity Title Agency Inc | |
| Warranty Deed | $93,500 | Equity Title Agency Inc | |
| Quit Claim Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | Tsa Title Agency | |
| Warranty Deed | $325,000 | Tsa Title Agency | |
| Warranty Deed | $205,000 | Capital Title Agency Inc | |
| Warranty Deed | $153,000 | Security Title Agency | |
| Warranty Deed | $106,000 | Fidelity Title |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $430,000 | New Conventional | |
| Previous Owner | $475,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $97,500 | New Conventional | |
| Previous Owner | $93,500 | Purchase Money Mortgage | |
| Previous Owner | $260,000 | Purchase Money Mortgage | |
| Previous Owner | $184,500 | New Conventional | |
| Previous Owner | $122,400 | New Conventional | |
| Previous Owner | $74,200 | New Conventional | |
| Closed | $32,500 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/28/2023 09/28/23 | Sold | $550,000 | -20.3% | $170 / Sq Ft |
| 09/28/2023 09/28/23 | Price Changed | $690,000 | 0.0% | $214 / Sq Ft |
| 09/20/2023 09/20/23 | Pending | -- | -- | -- |
| 09/19/2023 09/19/23 | For Sale | $690,000 | +4.5% | $214 / Sq Ft |
| 12/06/2022 12/06/22 | Sold | $660,000 | 0.0% | $205 / Sq Ft |
| 11/03/2022 11/03/22 | Pending | -- | -- | -- |
| 08/28/2022 08/28/22 | Off Market | $660,000 | -- | -- |
| 07/12/2022 07/12/22 | For Sale | $699,950 | -- | $217 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,779 | $14,542 | -- | -- |
| 2024 | $1,746 | $13,850 | -- | -- |
| 2023 | $1,746 | $47,250 | $9,450 | $37,800 |
| 2022 | $1,689 | $30,150 | $6,030 | $24,120 |
| 2021 | $1,711 | $24,850 | $4,970 | $19,880 |
| 2020 | $1,668 | $22,210 | $4,440 | $17,770 |
| 2019 | $1,638 | $18,400 | $3,680 | $14,720 |
| 2018 | $1,595 | $15,620 | $3,120 | $12,500 |
| 2017 | $1,587 | $15,330 | $3,060 | $12,270 |
| 2016 | $1,558 | $14,150 | $2,830 | $11,320 |
| 2015 | $1,443 | $14,070 | $2,810 | $11,260 |
Source: Public Records
Agents Affiliated with this Home
-
Bea Lyman
Seller's Agent in 2023
Bea Lyman
Keller Williams Integrity First
(480) 309-3975
1 in this area
56 Total Sales
-
Melody Bramer
Seller Co-Listing Agent in 2023
Melody Bramer
Keller Williams Integrity First
(602) 290-3643
1 in this area
20 Total Sales
-
David Arustamian
Buyer's Agent in 2023
David Arustamian
Russ Lyon Sotheby's International Realty
(480) 331-0707
2 in this area
436 Total Sales
-
Lindsay Baker
Seller's Agent in 2022
Lindsay Baker
Evolution Real Estate, LLC
(480) 227-7945
1 in this area
26 Total Sales
-
N
Buyer's Agent in 2022
Non-MLS Agent
Non-MLS Office
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6432898
APN: 159-14-083
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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