Seller's Agent in 2020
Ryan Swan
HomeSmart
(602) 733-5455
1 in this area
39 Total Sales
1310 E Madison St Phoenix, AZ 85034
Garfield NeighborhoodEstimated Value: $816,149 - $941,000
8
Beds
--
Bath
1,242
Sq Ft
$700/Sq Ft
Est. Value
Highlights
- Cooling Available
- 4-minute walk to 12Th St/Jefferson
- Heat Pump System
- Phoenix Coding Academy Rated A
- Ceramic Tile Flooring
About This Home
As of August 2020This turn-key Fourplex is fully stabilized and generates over $47k in yearly gross revenue! High quality tenants have been placed by professional management and are all paying rent. It is located a couple blocks from Downtown Phoenix and only steps away from the Washington/Jefferson light rail stations. It was gutted and fully renovated in 2016 including new roof, four new full size A/Cs, new electric panel/wiring, new HW heaters, as well as all new windows, flooring, kitchens, baths, paint, trim, and much more. Each kitchen features full size stainless steel appliances incl. built in range, microwave, dishwasher, & disposal. Each unit also has built in washer/dryer combos. Tenants love the abundance of off street parking, along with dusk/dawn security lighting and full perimeter fencing. First time investors and out of state buyers would be the perfect fit for this stable Phoenix multifamily property. Two units are currently month-to-month, so it would also work well for an owner occupant using FHA or VA financing. A savvy owner may also convert one or more of the units to short term Airbnb rentals to capitalize on the proximity to downtown Phoenix and all it has to offer (Suns, Diamondbacks, light rail, museums, and the convention center).
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,075
Year Built
- Built in 1985
Lot Details
- 7,013
Home Design
- Wood Frame Construction
- Composition Roof
- Stucco
Flooring
- Carpet
- Ceramic Tile
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
Listing and Financial Details
- Tenant pays for electricity, cable TV
- The owner pays for trash collection, water, landscaping
- Legal Lot and Block 15 / 19
- Assessor Parcel Number 116-47-058
Community Details
Overview
- 2 Buildings
- 4 Units
- Building Dimensions are 7002
- Collins Addition Phoenix Blocks 23 26 17 & 27 Subdivision
Building Details
- Operating Expense $10,575
- Gross Income $44,900
- Net Operating Income $36,261
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Nov 22, 2020
Sold by
Rudd Jon and Rudd Linda
Bought by
Pilgrim Renaissance Development Llc
Current Estimated Value
Purchase Details
Listed on
Jun 1, 2020
Closed on
Aug 18, 2020
Sold by
East Madison Holdings Llc
Bought by
Rudd Jon and Rudd Linda
Seller's Agent
Ryan Swan
HomeSmart
Buyer's Agent
Chad Vice
HomeSmart
List Price
$575,000
Sold Price
$570,000
Premium/Discount to List
-$5,000
-0.87%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.13%
Original Mortgage
$342,000
Interest Rate
3%
Purchase Details
Closed on
Nov 21, 2016
Sold by
Goldman Casey
Bought by
East Madison Holdings Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$379,008
Interest Rate
3.75%
Mortgage Type
FHA
Purchase Details
Closed on
Nov 14, 2016
Sold by
E Investment Properties Inc
Bought by
Goldman Casey
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$379,008
Interest Rate
3.75%
Mortgage Type
FHA
Purchase Details
Listed on
Nov 24, 2015
Closed on
Dec 10, 2015
Sold by
Braden Charles and Mcsorley Kathy
Bought by
E Investment Properties Inc
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Renee Messali-Montgomery
eXp Realty
List Price
$140,000
Sold Price
$125,000
Premium/Discount to List
-$15,000
-10.71%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
21.24%
Original Mortgage
$125,000
Interest Rate
3.96%
Mortgage Type
Purchase Money Mortgage
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Pilgrim Renaissance Development Llc | $660,000 | Pioneer Title Agency Inc | |
| Rudd Jon | $570,000 | Valleywide Title Agency | |
| East Madison Holdings Llc | -- | None Available | |
| Goldman Casey | $386,000 | First Arizona Title Agency | |
| E Investment Properties Inc | $125,000 | First Arizona Title Agency |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Rudd Jon | $342,000 | |
| Previous Owner | Goldman Casey | $379,008 | |
| Previous Owner | E Investment Properties Inc | $125,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/24/2020 08/24/20 | Sold | $570,000 | -0.9% | $459 / Sq Ft | |
| 08/12/2020 08/12/20 | Price Changed | $575,000 | 0.0% | $463 / Sq Ft | |
| 07/10/2020 07/10/20 | Pending | -- | -- | -- | |
| 07/03/2020 07/03/20 | For Sale | $575,000 | 0.0% | $463 / Sq Ft | |
| 07/03/2020 07/03/20 | Price Changed | $575,000 | 0.0% | $463 / Sq Ft | |
| 06/01/2020 06/01/20 | For Sale | $575,000 | +360.0% | $463 / Sq Ft | |
| 12/23/2015 12/23/15 | Sold | $125,000 | -10.7% | $101 / Sq Ft | View Prior Sale |
| 12/12/2015 12/12/15 | Pending | -- | -- | -- | |
| 11/23/2015 11/23/15 | For Sale | $140,000 | -- | $113 / 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 | $968 | $16,209 | -- | -- |
| 2024 | $2,147 | $15,437 | -- | -- |
| 2023 | $2,147 | $45,300 | $9,060 | $36,240 |
| 2022 | $2,070 | $31,300 | $6,260 | $25,040 |
| 2021 | $2,055 | $26,550 | $5,310 | $21,240 |
| 2020 | $2,078 | $25,720 | $5,140 | $20,580 |
| 2019 | $2,075 | $19,170 | $3,830 | $15,340 |
| 2018 | $2,040 | $12,550 | $2,510 | $10,040 |
| 2017 | $1,263 | $11,630 | $2,320 | $9,310 |
| 2016 | $1,227 | $9,200 | $1,840 | $7,360 |
| 2015 | $1,135 | $8,860 | $1,770 | $7,090 |
Source: Public Records
Agents Affiliated with this Home
-
Ryan Swan
-
Chad Vice
Buyer's Agent in 2020
Chad Vice
HomeSmart
(480) 476-3388
30 Total Sales
-
Sophia Baron
Seller's Agent in 2015
Sophia Baron
Grace CRE
(480) 375-0227
76 Total Sales
-
Baylee Estrada
B
Seller Co-Listing Agent in 2015
Baylee Estrada
Keller Williams Arizona Realty
(480) 688-8444
-
R
Buyer's Agent in 2015
Renee Messali-Montgomery
eXp Realty
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6085057
APN: 116-47-058
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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