NOT LISTED FOR SALE

1316 W North Ln Phoenix, AZ 85021

North Mountain Village Neighborhood

Estimated Value: $267,000 - $465,000

-- Bed
3 Baths
672 Sq Ft
$554/Sq Ft Est. Value

Last Sold January 26, 2016

Last sale price $106,000 $158 Per Sq Ft

Est. 256% increase in value since last sale

Current estimated payment $2,050/month

69 Days on Market

Highlights

  • Wood Flooring
  • Evaporated cooling system
  • Heating Available
  • Sunnyslope High School Rated A

About This Home

As of January 2016

Income property opportunity. 3-Plex consisting 2 buildings, 1 with a 2 bedroom 1 bath apartment and another with 2 @ 2 bedroom 1 bath apartments. Lots of potential for the handyman type of buyer. Parking area with approx. 5 parking spaces. Each apartment is 672 square feet (approx.). Rents in the area range from $475-$550 for these types of units. This is a Fannie Mae Home Path property.

Last Agent to Sell the Property

Jerry A. Humphrey

Weichert, Realtors - Courtney Valleywide License #BR007018000 Listed on: 10/30/2015

Weichert, Realtors - Courtney Valleywide

Last Buyer's Agent

Rod Mohan

LPT Realty, LLC License #BR546279000

LPT Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $651

Year Built

  • Built in 1986

Lot Details

  • 7,362

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Block Exterior
  • Siding

Flooring

  • Wood
  • Carpet
  • Concrete
  • Ceramic Tile
  • Vinyl

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Free Parking
  • Paved Parking
  • Assigned Parking

Schools

  • Mountain View Elementary School
  • Royal Palm Middle School
  • Sunnyslope High School

Utilities

  • Evaporated cooling system
  • Heating Available
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 21
  • Assessor Parcel Number 158-27-040

Community Details

Overview

  • 2 Buildings
  • 3 Units
  • Building Dimensions are 7371
  • Romine Estates Lot 1 22 Subdivision

Building Details

  • Operating Expense $9,902
  • Gross Income $17,199
  • Net Operating Income $8,952

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$651

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Cross Street: Peoria & 19th Ave
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1986
  • Tax Year: 2015
  • Road Surface Type: Asphalt
  • Professional Management Expense: 1701.0
  • Subdivision Name: ROMINE ESTATES LOT 1-22
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl, Wood, Concrete
  • Appliances: None
  • Appliances Included:None38: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Siding, Painted, Block, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, Free, Assigned, <1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 5.0
  • Total Parking Spaces: 5.0
  • General Property Description:Uncvrd Parking Spcs: 5.0
  • General Property Description:Total Parking Spcs: 5.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Assigned: Yes
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Electric, Evaporative Cooling
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 600.0
  • Annual Water Sewer Expense: 2850.0

Schools

  • Elementary School: Mountain View Elementary School
  • High School: Sunnyslope High School
  • Junior High Dist: Glendale Union High School District
  • Middle Or Junior School: Royal Palm Middle School

Lot Info

  • Lot Size: 7371
  • Additional Parcels: No
  • Parcel #: 158-27-040

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity
  • Number Of Units Total: 3
  • Annual Gross Income: 17199.0
  • Insurance Expense: 1000.0
  • Maintenance Expense: 600.0
  • Property Net Operating Income: 8952.0
  • Annual Operating Expense: 9902.0
  • Vacancy Allowance Rate: 0.09

Tax Info

  • Tax Annual Amount: 651.0
  • Tax Book Number: 158.00
  • Tax Lot: 21

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 28, 2016
Sold by
Aguayo Ruben and Aguayo Naby
Bought by
Aguayo Ruben and Aguayo Naby
Current Estimated Value
$377,547

Purchase Details

Listed on
Oct 30, 2015
Closed on
Jan 20, 2016
Sold by
Fannie Mae
Bought by
Aguayo Ruben and Aguayo Naby
Seller's Agent
Jerry A. Humphrey
Weichert, Realtors - Courtney Valleywide
Buyer's Agent
Rod Mohan
LPT Realty, LLC
List Price
$125,900
Sold Price
$106,000
Premium/Discount to List
-$19,900
-15.81%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.56%

Purchase Details

Closed on
Oct 7, 2015
Sold by
Mahan Elvis J and Green Tree Servicing Llc
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Mar 2, 1995
Sold by
Moore John P and Moore Judith
Bought by
Mahan Elvis J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$61,750
Interest Rate
8.86%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
Aguayo Ruben -- None Available
Aguayo Ruben $106,000 Old Republic Title Agency
Federal National Mortgage Association $112,391 None Available
Mahan Elvis J $65,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mahan Elvis J $61,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/26/2016 01/26/16 Sold $106,000 -15.8% $158 / Sq Ft
01/07/2016 01/07/16 Pending -- -- --
10/30/2015 10/30/15 For Sale $125,900 -- $187 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

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 $834 $6,559 -- --
2024 $788 $6,247 -- --
2023 $788 $32,120 $6,420 $25,700
2022 $762 $22,830 $4,560 $18,270
2021 $772 $19,380 $3,870 $15,510
2020 $752 $17,500 $3,500 $14,000
2019 $739 $14,310 $2,860 $11,450
2018 $720 $10,730 $2,140 $8,590
2017 $716 $10,330 $2,060 $8,270
2016 $703 $9,720 $1,940 $7,780
2015 $651 $8,000 $1,600 $6,400
Source: Public Records

Agents Affiliated with this Home

  • Jerry A. Humphrey

    Seller's Agent in 2016

    Jerry A. Humphrey

    Weichert, Realtors - Courtney Valleywide

    (480) 688-3888

    30 Total Sales

    Jerry A. Humphrey
    Section Image
  • Rod Mohan

    Buyer's Agent in 2016

    Rod Mohan

    LPT Realty, LLC

    (480) 398-6872

    1 in this area

    46 Total Sales

    Rod Mohan
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5357038

Arizona Regional Multiple Listing Service (ARMLS)

APN: 158-27-040

Arizona Maricopa County Phoenix 85021 North Mountain Village

1316 W North Ln, Phoenix, 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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