506 E KERRY Lane, Phoenix, AZ 85024, Phoenix, 85024 - 3 bed, 3 bath
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506 E KERRY Lane
Phoenix, AZ 85024
ACTIVE
CONDITION: GOOD
3Beds
3Baths
1,781Sq Ft
4,031Lot Size
Property Price
LIST PRICE$469,000
EST. MARKET VALUE
$469,000
SUMMARY
This North Phoenix pool home is a Prime Investment Opportunity, listed at $473,000—positioned well below the $598,840 Fair Market Value by 21%. This significant valuation gap offers $125,840 in Instant Equity. Featuring a Condition Rating of 3, the residence is move-in ready with a new AC (2022), updated kitchen, and a private pool and spa. While local elementary school ratings are low, the property’s mechanical upgrades and substantial equity provide a strong financial hedge. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Estimated Market Value
$469,000
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 |
|---|---|---|---|---|---|---|
★ 506 E KERRY Lane Subject | $469,000* List Price | 3 | 3 | 1,781 | $263 | - |
A 412 E UTOPIA Road Sold | $495,000 | 3 | 3 | 1,746 | $284 | 0.2 mi |
B 413 E KRISTAL Way Sold | $435,000 | 3 | 3 | 1,656 | $263 | 0.1 mi |
C 20220 N 9th Street N Sold | $465,000 | 4 | 2 | 1,810 | $257 | 0.7 mi |
D 510 E WESCOTT Drive Active | $439,900 List Price | 3 | 3 | 1,644 | $268 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
The property is move-in ready and well-maintained. It features a stylishly updated kitchen with stainless steel appliances and stone accents, along with a significant mechanical upgrade in the new AC unit installed in 2022. While the 1985 construction is evident in some architectural details and popcorn ceilings, the overall condition of the flooring, primary suite, and private pool area indicates consistent upkeep and partial modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Private Pool & Spa
The property features a private backyard oasis with a sparkling pool and spa, a highly desirable amenity for the Phoenix climate and outdoor entertaining.
- Recent HVAC Upgrade
A new air conditioning system was installed in 2022, offering significant value and peace of mind regarding energy efficiency and cooling reliability.
- Modern Interior Features
The home offers an appealing open floor plan with soaring ceilings, stainless steel appliances, and a primary suite that includes a dedicated sitting area.
CONSRISKS & DEFICIENCIES
- Underperforming School District
The assigned elementary school has a low rating of 2/10, which may impact long-term resale value and appeal to families with young children.
- Limited Lot Size
With a lot size of approximately 4,031 square feet, the outdoor space is relatively compact, leaving little room for additional landscaping or play areas beyond the pool.
About 506 E KERRY Lane
NEWLY REMODELED KITCHEN WITH STAINLESS STEEL APPLIANCES! 2022 AC system and VERY LOW HOA! Beautiful North Phoenix pool home in highly sought-after Merit Estates featuring 3 bedrooms, 2.5 baths, soaring ceilings, and a bright, open floor plan. The stunning remodeled kitchen offers modern finishes, stone accents, a breakfast bar, and stainless steel appliances. Spacious living and dining areas include a cozy fireplace and tile in all the right places. Upstairs, the primary suite features dual sinks, a walk-in closet, and a separate sitting or dressing area. Enjoy a private backyard with a sparkling pool and spa and easy-care landscaping--perfect for relaxing or entertaining.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1985
- Lot Size
- 4,031 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $46 / Month
Neighborhood Insights
Phoenix Unified Schools
Eagle Ridge Elementary School
Grades K-6 • 0.9 mi
2/10
Mountain Trail Middle School
Grades 7-8 • 3.0 mi
6/10
North Canyon High School
Grades 9-12 • 1.4 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,781 | 1,820.548 |
| Lot Size | 4,031 | 7,305.343 |
| Price | $469.0K | $470.3K |
| Price per sq ft | $263 | $279 |
| Built year | 1985 | 1986 |
| HOA | $46 | $186 |
| Days on market | 161 | 67 |
Pricing History
Listed for Sale
May 13, 2026
$469,000
$473,000
-1% Price Drop
Initial Listing
Price Change
Apr 1, 2026
$473,000
Initial Listing