NOT LISTED FOR SALE

1318 E Peoria Ave Phoenix, AZ 85020

North Mountain Village Neighborhood

Estimated Value: $404,417 - $505,000

-- Bed
-- Bath
2,040 Sq Ft
$226/Sq Ft Est. Value

Last Sold August 30, 2019

Last sale price $280,001 $137 Per Sq Ft

Est. 67% increase in value since last sale

Current estimated payment $2,512/month

22 Days on Market

About This Home

As of August 2019

Great Opportunity for a rookie or seasoned investor to purchase a well maintained block constructed duplex in up and coming Sunnyslope area. These 3 bedroom 1 bath units have been updated and maintained well by the current owner. 1 Tenant is on month to month at $900 and would like to sign long tern. The other unit is $975 and the lease runs through February. Difficult to find 3 bedroom units so they always lease quick. A/C units have both been replaced, 1 approx 5 years ago and the other about 1 year ago. Sewer line has also been replaced . Interiors have been updated as well. Great turn key investment.

Last Agent to Sell the Property

Michal Castle

Real Broker License #BR114969000 Listed on: 07/18/2019

Real Broker

Co-Listed By

Michal Castle

Real Broker License #SA105294000

Last Buyer's Agent

Kimberly Caruso

West USA Realty License #SA651009000

West USA Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $744

Year Built

  • Built in 1963

Lot Details

  • 6,186

Home Design

  • Foam Roof
  • Block Exterior

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Schools

  • Larkspur Elementary School
  • Shea Middle School
  • Shadow Mountain High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for water
  • Tax Lot 478
  • Assessor Parcel Number 159-23-179

Community Details

Overview

  • 2 Units
  • Building Dimensions are IRR
  • Palo Verde Hills Subdivision

Building Details

  • Operating Expense $3,572
  • Gross Income $21,375
  • Net Operating Income $18,547

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$744

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Cross Street: Peoria & Cave Creek
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 1
  • Year Built: 1963
  • Tax Year: 2018
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: myhg02
  • Co List Office Phone: 480-685-2760
  • Subdivision Name: PALO VERDE HILLS
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: See Remarks, Foam
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: APS
  • Cooling: Heat Pump
  • Heating: Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 2228.0

Schools

  • Elementary School: Larkspur Elementary School
  • High School: Shadow Mountain High School
  • Middle Or Junior School: Shea Middle School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 159-23-179

Multi Family

  • Owner Pays: Water
  • Tenant Pays: Cable TV
  • Number Of Units Total: 2
  • Annual Gross Income: 21375.0
  • Insurance Expense: 600.0
  • Property Net Operating Income: 18547.0
  • Annual Operating Expense: 3572.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 744.0
  • Tax Book Number: 159.00
  • Tax Lot: 478

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 18, 2019
Closed on
Aug 22, 2019
Sold by
Palmenberg Family Limited Partnership
Bought by
Cannon Elaine Marie and Cannon Robert R
Seller's Agent
Michal Castle
Real Broker
Buyer's Agent
Kimberly Caruso
West USA Realty
List Price
$269,990
Sold Price
$280,001
Premium/Discount to List
$10,011
3.71%
Current Estimated Value
$467,339

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$187,338
Avg. Annual Appreciation
8.18%
Original Mortgage
$210,000
Interest Rate
3.8%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 10, 2013
Closed on
Sep 14, 2013
Sold by
Schulle Bryan M
Bought by
Palmenberg Family Limited Partnership
Seller's Agent
Kathleen Bates
Visionary Properties
Buyer's Agent
James MacDonald
Heli Properties
List Price
$139,900
Sold Price
$128,500
Premium/Discount to List
-$11,400
-8.15%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.99%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Cannon Elaine Marie $280,001 Old Republic Title Agency
Palmenberg Family Limited Partnership $128,500 First Arizona Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Cannon Elaine Marie $210,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/30/2019 08/30/19 Sold $280,001 +3.7% $137 / Sq Ft
08/09/2019 08/09/19 Pending -- -- --
07/18/2019 07/18/19 For Sale $269,990 +110.1% $132 / Sq Ft
09/20/2013 09/20/13 Sold $128,500 -8.1% $63 / Sq Ft View Prior Sale
09/02/2013 09/02/13 Pending -- -- --
08/09/2013 08/09/13 For Sale $139,900 -- $69 / 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 $837 $8,188 -- --
2024 $798 $7,798 -- --
2023 $798 $30,850 $6,170 $24,680
2022 $790 $23,510 $4,700 $18,810
2021 $792 $19,520 $3,900 $15,620
2020 $768 $17,500 $3,500 $14,000
2019 $769 $14,660 $2,930 $11,730
2018 $744 $12,460 $2,490 $9,970
2017 $713 $9,800 $1,960 $7,840
2016 $701 $8,930 $1,780 $7,150
2015 $649 $7,550 $1,510 $6,040
Source: Public Records

Agents Affiliated with this Home

  • Michal Castle

    Seller's Agent in 2019

    Michal Castle

    Real Broker

    (602) 717-3811

    5 in this area

    274 Total Sales

    Michal Castle
    Section Image
  • Kimberly Caruso

    Buyer's Agent in 2019

    Kimberly Caruso

    West USA Realty

    (623) 703-9744

    1 in this area

    60 Total Sales

    Kimberly Caruso
    Section Image
  • Kathleen Bates

    Seller's Agent in 2013

    Kathleen Bates

    Visionary Properties

    (602) 620-2837

    25 Total Sales

    Kathleen Bates
    Section Image

  • J

    Buyer's Agent in 2013

    James MacDonald

    Heli Properties

    (602) 750-8099

    James MacDonald
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5953851

Arizona Regional Multiple Listing Service (ARMLS)

APN: 159-23-179

Arizona Maricopa County Phoenix 85020 North Mountain Village

1318 E Peoria Ave, 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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