501 W HONONEGH Drive 4, Phoenix, AZ 85027, Phoenix, 85027 - 2 bed, 2 bath
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501 W HONONEGH Drive 4
Phoenix, AZ 85027
ACTIVE
CONDITION: POOR
2Beds
2Baths
994Sq Ft
1,161Lot Size
Property Price
LIST PRICE$229,900
EST. MARKET VALUE
$212,200
8% AboveMARKET VALUE
SUMMARY
This property presents a Strong Value Opportunity with a List Price of $229,900—positioned above the $212,201 Fair Market Value by 8%. While the price reflects a premium, the HOA-covered exterior maintenance and mountain views provide significant long-term stability. With a Condition Rating of 5, the home requires interior modernization, offering a clear path for forced appreciation. This asset is ideal for Buy-and-Hold Investors seeking a low-maintenance rental or first-time buyers looking to build equity through sweat equity.
Estimated Market Value
$212,200
Based on Realkey algorithm analyzing recent comparable sales in Phoenix.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 501 W HONONEGH Drive 4 Subject | $229,900* List Price | 2 | 2 | 994 | $213 | - |
A 316 W HONONEGH Drive 6 Sold | $205,000 | 2 | 2 | 863 | $238 | 0.1 mi |
B 426 W PONTIAC Drive 6 Sold | $239,900 List Price | 2 | 2 | 863 | 0.1 mi | |
C 20420 N 6TH Drive 1 Pending | $225,000 List Price | 2 | 2 | 1,074 | $209 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1984 (>30 years old) with no evidence of recent renovations. The interior features original, dated finishes, and the 'Do Not Flush' sign on the toilet indicates a functional plumbing defect. The listing description confirms it needs updating and rehab to be move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Value
Priced competitively as an 'absolute bargain,' this property offers a high-value entry point for buyers or investors looking for a functional 2-bedroom townhouse in the Phoenix market.
- Low-Maintenance Living
The HOA fee covers 'studs out' maintenance, including the roof, exterior paint, and landscaping, providing peace of mind and predictable monthly costs for the owner.
- Optimal Exposure & Views
The home features a desirable North/South exposure for better energy efficiency and offers scenic mountain views, significantly enhancing the property's aesthetic appeal.
CONSRISKS & DEFICIENCIES
- Cosmetic Updates Required
The property is noted to need interior updating to modernize the space, which will require additional post-purchase time and financial investment from the buyer.
- Average School Ratings
The assigned elementary and middle schools carry lower performance ratings (3/10), which may be a deterrent for families prioritizing top-tier educational districts.
About 501 W HONONEGH Drive 4
Absolute bargain, unbelievable price for your buyer who wants a great deal on the nicest house in town. North/South Exposure on this single level 2 bedroom 2 bathroom townhouse. Nice open floor-plan with eat-in kitchen, breakfast bar, fireplace and private patio. 2 community pools with easy access to loop 101 shopping and entertainment. Solid bones just needs some updating to make it a home. HOA covers everything ''studs out'' including roof, exterior landscaping, paint and common areas
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1984
- Lot Size
- 1,161 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $175 / Month
Neighborhood Insights
Phoenix Unified Schools
Esperanza Elementary School
Grades K-5 • 14.5 mi
3/10
Deer Valley Middle School
Grades 7-8 • 2.3 mi
3/10
Barry Goldwater High School
Grades 9-12 • 2.2 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 994 | 1,225 |
| Lot Size | 1,161 | 1,319 |
| Price | $229.9K | $347.3K |
| Price per sq ft | $231 | $251 |
| Built year | 1984 | 1985 |
| HOA | $175 | $288 |
| Days on market | 14 | 824 |
Pricing History
Listed for Sale
Aug 3, 2026
$229,900
Initial Listing
Sold
Aug 23, 1991
$35,075
Public Record