NOT LISTED FOR SALE

1421 S Rita Ln Tempe, AZ 85281

Downtown Tempe Neighborhood

Estimated Value: $464,998 - $740,000

2 Beds
-- Bath
1,092 Sq Ft
$551/Sq Ft Est. Value

Last Sold May 16, 2024

Last sale price $850,000 $778 Per Sq Ft

Est. 29% decrease in value since last sale

Current estimated payment $3,292/month

493 Days on Market

Highlights

  • Cooling Available
  • Vinyl Flooring
  • Heat Pump System
  • Ceiling Fan

About This Home

As of May 2024

This property is master lease for 3 years w/Tenant paying all expenses. Great value with an excellent location for this remodeled Tempe Duplex. Close proximity to ASU and university transportation. Property features two spacious 1 bedroom, 1 bathroom units, both with a one car carport and slab parking, large private block fenced backyards in a quiet low traffic neighborhood. New flooring, tile tub/ shower surrounds, new vanities and cabinets, quartz countertops, dual pane windows, fixtures, stainless steel appliances and NEW underground pipes. Ample storage throughout, extended length carport and low maintenance landscaping.. Buyer to verify all Facts and Figures. Drive by only as this is occupied.

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 12/21/2022

Last Buyer's Agent

Erik Kelly

eXp Realty License #SA538275000

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,198

Year Built

  • Built in 1959

Lot Details

  • 7,492

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • Ceiling Fan
  • Vinyl Flooring

Parking

  • 4 Parking Spaces
  • 2 Covered Spaces
  • Common or Shared Parking
  • Free Parking
  • Paved Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water, sewer, cable TV, landscaping
  • Tax Lot E
  • Assessor Parcel Number 133-09-019-E

Community Details

Overview

  • 2 Units
  • Building Dimensions are Irr
  • Halsingborg Subdivision

Building Details

  • Operating Expense $3,419
  • Gross Income $44,712
  • Net Operating Income $41,293

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,198

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Cross Street: Rural Rd and Spence RD
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1959
  • Tax Year: 2023
  • Directions: Turn East on Spence to Rita. Turn South on Rita Property is on the left
  • Road Surface Type: Asphalt
  • Subdivision Name: HALSINGBORG
  • Tax Parcel Letter: E
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Other (See Remarks), Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop
  • Construction Type: Painted, Stucco, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: Paved Parking, Free, >1 Space Per Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 4.0
  • General Property Description:Covered Parking Spcs: 2.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Heat Pump, Ceiling Fan(s)
  • Heating: Individual, Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Schools

  • Junior High Dist: Tempe Union High School District

Lot Info

  • Lot Size: Irr
  • Additional Parcels: No
  • Parcel #: 133-09-019-E

Multi Family

  • Owner Pays: See Remarks, None
  • Tenant Pays: See Remarks, Trash Collection, Electricity, Water, Sewer, Cable TV, Landscaping
  • Number Of Units Total: 2
  • Annual Gross Income: 44712.0
  • Insurance Expense: 2221.0
  • Property Net Operating Income: 41293.0
  • Annual Operating Expense: 3419.0

Tax Info

  • Tax Annual Amount: 1198.0
  • Tax Book Number: 133.00
  • Tax Lot: E

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 21, 2022
Closed on
May 16, 2024
Sold by
Good Properties Llc
Bought by
Allan-Ray Hayward Investors Llc
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Erik Kelly
eXp Realty
List Price
$875,000
Sold Price
$850,000
Premium/Discount to List
-$25,000
-2.86%
Views
335
Current Estimated Value
$601,750

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$248,250
Avg. Annual Appreciation
-22.14%

Purchase Details

Closed on
Oct 12, 2023
Sold by
Haraszko Joseph and Haraszko Angela
Bought by
Good Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$383,500
Interest Rate
7.18%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 10, 2022
Sold by
Hineman Phillip D
Bought by
Good Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
5.66%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 16, 2016
Sold by
Hineman Phillip D
Bought by
Hineman Phillip D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$696,000
Interest Rate
3.71%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 11, 2016
Sold by
Griffiths John Alan and Heywood Michelle
Bought by
Hineman Philip D and Hineman Linda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$696,000
Interest Rate
3.71%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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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
Allan-Ray Hayward Investors Llc $850,000 Wfg National Title Insurance C
Good Properties Llc -- --
Haraszko Joseph -- Wfg National Title Insurance C
Good Properties Llc $300,000 Empire Title Company Ltd
Hineman Phillip D -- Great Amer Title Agency Inc
Hineman Philip D $870,000 Great Amer Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Haraszko Joseph $383,500
Previous Owner Good Properties Llc $260,000
Previous Owner Hineman Philip D $696,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/16/2024 05/16/24 Sold $850,000 -1.7% $778 / Sq Ft
04/27/2024 04/27/24 Pending -- -- --
11/13/2023 11/13/23 Price Changed $865,000 -1.1% $792 / Sq Ft
10/18/2023 10/18/23 For Sale $875,000 +2.9% $801 / Sq Ft
10/05/2023 10/05/23 Off Market $850,000 -- --
08/25/2023 08/25/23 For Sale $875,000 +2.9% $801 / Sq Ft
07/14/2023 07/14/23 Off Market $850,000 -- --
06/29/2023 06/29/23 Price Changed $875,000 0.0% $801 / Sq Ft
06/29/2023 06/29/23 For Sale $875,000 +2.9% $801 / Sq Ft
05/06/2023 05/06/23 Off Market $850,000 -- --
12/21/2022 12/21/22 For Sale $950,000 -- $870 / 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 $1,212 $10,822 -- --
2024 $1,198 $10,307 -- --
2023 $1,198 $33,320 $6,660 $26,660
2022 $1,149 $25,350 $5,070 $20,280
2021 $1,157 $21,770 $4,350 $17,420
2020 $1,122 $19,460 $3,890 $15,570
2019 $1,100 $16,410 $3,280 $13,130
2018 $1,073 $13,600 $2,720 $10,880
2017 $1,041 $11,110 $2,220 $8,890
2016 $1,034 $9,850 $1,970 $7,880
2015 $993 $9,710 $1,940 $7,770
Source: Public Records

Agents Affiliated with this Home

  • Linda Gerchick

    Seller's Agent in 2024

    Linda Gerchick

    Gerchick Real Estate

    (602) 688-9279

    3 in this area

    119 Total Sales

    Linda Gerchick
    Section Image
  • Erik Kelly

    Buyer's Agent in 2024

    Erik Kelly

    eXp Realty

    (480) 229-6699

    1 in this area

    74 Total Sales

    Erik Kelly
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6500596

Arizona Regional Multiple Listing Service (ARMLS)

APN: 133-09-019E

Arizona Maricopa County Tempe 85281 Downtown Tempe

1421 S Rita Ln, Tempe, AZ

This home is located at 1421 S Rita Ln, Tempe, AZ 85281 since 21 December 2022 and is currently estimated at $601,750, approximately $551 per square foot. This property was built in 1959. 1421 S Rita Ln is a home located in Maricopa County with nearby schools including Curry Elementary School, Connolly Middle School, and McClintock High School.

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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