NOT LISTED FOR SALE

1031 S Farmer Ave Tempe, AZ 85281

Maple Ash Neighborhood

Estimated Value: $459,000 - $524,000

Studio
-- Bath
1,440 Sq Ft
$349/Sq Ft Est. Value

Sale Details

Date Sold: December 30, 2021

Last sale price $500,000 $347 Per Sq Ft

Current estimated payment $2,930 / mo

777 Days on Market

About This Home

As of December 2021

Prime Tempe location! Investment opportunity. Duplex featuring 1 bedroom, one bath units. **DRIVE BY ONLY** **DO NOT DISTURB TENANTS** **VIEWING ONLY AFTER ACCEPTED CONTRACT**

Last Agent to Sell the Property

Mike Mendoza

Keller Williams Realty Sonoran Living License #SA022151000 Listed on: 10/04/2019

Keller Williams Realty Sonoran Living

Last Buyer's Agent

Riley Behrens

Keller Williams Realty Sonoran Living License #SA695642000

Keller Williams Realty Sonoran Living

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,380

Year Built

  • Built in 1957

Lot Details

  • Dirt Road

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 2 Open Parking Spaces
  • 2 Parking Spaces
  • Parking Available

Schools

  • Holdeman Elementary School
  • Geneva Epps Mosley Middle School
  • Tempe High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Legal Lot and Block 8 / 3
  • Assessor Parcel Number 124-70-003

Community Details

Overview

  • 2 Units
  • Building Dimensions are 7,125 SQ FT (PER COUNTY ASSESSOR)
  • Farmers Blks 4 5 & Pt 3, Lots 6 9 Subdivision

Building Details

  • Operating Expense $1,380

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,380

Year Built

Built in 1957

Lot Details

0 Sq Ft Lot

Listing Details

  • Cross Street: MILL AVE & UNIVERSITY
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1957
  • Tax Year: 2019
  • Road Surface Type: Dirt, Gravel
  • Subdivision Name: FARMERS BLKS 4-5 & PT 3, LOTS 6-9
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances: Other

Exterior Features

  • Disclosures: None
  • Construction Type: Block, Painted
  • Roof: Composition

Garage/Parking

  • Parking Features: 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 2.0

Utilities

  • Electric: SRP
  • Cooling: Other, See Remarks
  • Heating: Other, See Remarks
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Individual Meter

Condo/Co-op/Association

  • Community Features: No Pool

Schools

  • Elementary School: Holdeman Elementary School
  • High School: Tempe High School
  • Junior High Dist: Tempe Union High School District
  • Middle Or Junior School: Geneva Epps Mosley Middle School

Lot Info

  • Lot Size: 7,125 SQ FT (PER COUNTY ASSESSOR)
  • Additional Parcels: No
  • Parcel #: 124-70-003

Multi Family

  • Owner Pays: Other, See Remarks
  • Tenant Pays: See Remarks
  • Number Of Units Total: 2
  • Annual Operating Expense: 1380.0

Tax Info

  • Tax Annual Amount: 1380.0
  • Tax Block: 3
  • Tax Book Number: 124.0
  • Tax Lot: 8

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 4, 2019
Closed on
Dec 20, 2021
Sold by
Wright Timothy R and Wright Timothy Ray
Bought by
Farmer Avenue Properties Llc
Seller's Agent
Mike Mendoza
Keller Williams Realty Sonoran Living
Buyer's Agent
Riley Behrens
Keller Williams Realty Sonoran Living
List Price
$349,900
Sold Price
$500,000
Premium/Discount to List
$150,100
42.9%
Current Estimated Value
$502,071

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,071
Avg. Annual Appreciation
0.10%
Original Mortgage
$375,000
Outstanding Balance
$353,658
Interest Rate
5.25%
Mortgage Type
New Conventional
Estimated Equity
$148,413

Purchase Details

Closed on
Nov 20, 1997
Sold by
Sombrio George A and Heileman James D
Bought by
Wright Timothy R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$54,000
Interest Rate
7.55%
Mortgage Type
New Conventional
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Farmer Avenue Properties Llc $500,000 Empire West Title Agency Llc
Wright Timothy R $72,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Farmer Avenue Properties Llc $375,000
Previous Owner Wright Timothy R $54,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/30/2021 12/30/21 Sold $500,000 0.0% $347 / Sq Ft
11/19/2021 11/19/21 Pending -- -- --
11/19/2021 11/19/21 Price Changed $500,000 +3.1% $347 / Sq Ft
06/11/2021 06/11/21 Price Changed $485,000 +2.1% $337 / Sq Ft
04/01/2021 04/01/21 Price Changed $475,000 +5.6% $330 / Sq Ft
02/01/2021 02/01/21 Price Changed $449,900 +12.5% $312 / Sq Ft
10/27/2020 10/27/20 Price Changed $399,900 +9.6% $278 / Sq Ft
12/03/2019 12/03/19 Price Changed $365,000 +4.3% $253 / Sq Ft
10/04/2019 10/04/19 For Sale $349,900 -- $243 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

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 $2,714 $13,576 -- --
2024 $1,502 $12,929 -- --
2023 $1,502 $42,260 $8,450 $33,810
2022 $1,441 $33,630 $6,720 $26,910
2021 $1,451 $29,270 $5,850 $23,420
2020 $1,407 $25,930 $5,180 $20,750
2019 $1,380 $21,050 $4,210 $16,840
2018 $1,346 $15,830 $3,160 $12,670
2017 $1,306 $14,580 $2,910 $11,670
2016 $1,297 $13,360 $2,670 $10,690
2015 $1,246 $13,080 $2,610 $10,470
Source: Public Records

Agents Affiliated with this Home

  • Mike Mendoza

    Seller's Agent in 2021

    Mike Mendoza

    Keller Williams Realty Sonoran Living

    (602) 430-3917

    3 in this area

    175 Total Sales

    Mike Mendoza
    Section Image
  • Riley Behrens

    Buyer's Agent in 2021

    Riley Behrens

    Keller Williams Realty Sonoran Living

    (480) 227-6078

    2 in this area

    9 Total Sales

    Riley Behrens
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5987853

Arizona Regional Multiple Listing Service (ARMLS)

APN: 124-70-003

Arizona Maricopa County Tempe 85281 Maple Ash

1031 S Farmer Ave, Tempe, AZ

Not Listed for Sale

MultiFamily

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.

Arizona Regional Multiple Listing Service (ARMLS) 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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