NOT LISTED FOR SALE

1509 E Cinnabar Ave Phoenix, AZ 85020

North Central Neighborhood

Estimated Value: $451,000 - $572,000

Studio
-- Bath
1,976 Sq Ft
$253/Sq Ft Est. Value

Last Sold March 28, 2017

Last sale price $200,000 $101 Per Sq Ft

Est. 149% increase in value since last sale

Current estimated payment $2,702/month

9 Days on Market

Highlights

  • Cooling Available
  • Ceiling Fan
  • Heat Pump System
  • Sunnyslope High School Rated A
  • Carpet
  • 5-minute walk to Sunnyslope Rock Garden

About This Home

As of March 2017

Step right into this income generating duplex. Tenants currently on month-to-month leases at market rates. Two bed / two bath units with covered patios. Each unit has a private block-fenced backyard. Plenty of parking at each unit with one-car carport and extra slab. Water heater in each unit replaced in 2014, HVAC's replaced in 2015(unit A) and 2008 (unit B). Low maintenance desert landscaping front and back, ceiling fans throughout, Fresh exterior paint. Low tenant turnover, and ample applicants from neighboring properties. All appliances convey.

Last Agent to Sell the Property

John Shurr

West USA Realty License #SA108698000 Listed on: 02/16/2017

West USA Realty

Last Buyer's Agent

Naleka Pegueros

eXp Realty License #BR664435000

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $940

Year Built

  • Built in 1976

Lot Details

  • 6,795

Home Design

  • Composition Roof
  • Block Exterior

Interior Spaces

  • Ceiling Fan

Flooring

  • Carpet
  • Vinyl

Parking

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

Schools

  • Sunridge Elementary School
  • Royal Palm Middle School
  • Sunnyslope High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer
  • Legal Lot and Block 7 / 1
  • Assessor Parcel Number 159-29-037

Community Details

Overview

  • 2 Units
  • Building Dimensions are 90x75
  • Mountain Village Tr Subdivision

Building Details

  • Operating Expense $3,900
  • Gross Income $17,400
  • Net Operating Income $13,500

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$940

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Cross Street: Cave Creek / Cinnabar
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Year Built: 1976
  • Tax Year: 2016
  • Road Surface Type: Asphalt
  • Subdivision Name: MOUNTAIN VILLAGE TR
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Vinyl
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WasherDryer: Yes

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: Paved Parking, Add'l Parking Avail, 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:Paved Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:See Remarks15: Yes

Fee Information

  • Annual Water Sewer Expense: 1860.0

Schools

  • Elementary School: Sunridge Elementary School
  • High School: Sunnyslope High School
  • Middle Or Junior School: Royal Palm Middle School

Lot Info

  • Lot Size: 90x75
  • Additional Parcels: No
  • Parcel #: 159-29-037

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 2
  • Annual Gross Income: 17400.0
  • Insurance Expense: 400.0
  • Maintenance Expense: 700.0
  • Property Net Operating Income: 13500.0
  • Annual Operating Expense: 3900.0

Tax Info

  • Tax Annual Amount: 940.0
  • Tax Block: 1
  • Tax Book Number: 159.00
  • Tax Lot: 7

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 16, 2017
Closed on
Mar 10, 2017
Sold by
Gerros Jason C and Gerros Susan J
Bought by
Chattom Sara B
Seller's Agent
John Shurr
West USA Realty
Buyer's Agent
Naleka Pegueros
eXp Realty
List Price
$200,000
Sold Price
$200,000
Current Estimated Value
$498,972

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$298,972
Avg. Annual Appreciation
10.97%
Original Mortgage
$196,377
Outstanding Balance
$165,915
Interest Rate
4.87%
Mortgage Type
FHA
Estimated Equity
$333,057

Purchase Details

Closed on
Feb 12, 1997
Sold by
Neric Milos
Bought by
Gerros Jason C and Bray Susan J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,485
Interest Rate
7.81%
Mortgage Type
FHA
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
Chattom Sara B $200,000 Lawyers Title
Gerros Jason C $93,000 Security Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chattom Sara B $196,377
Previous Owner Gerros Jason C $92,485
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/28/2017 03/28/17 Sold $200,000 0.0% $101 / Sq Ft
02/13/2017 02/13/17 For Sale $200,000 -- $101 / 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 $1,112 $9,326 -- --
2024 $1,050 $8,882 -- --
2023 $1,050 $32,770 $6,550 $26,220
2022 $1,014 $25,680 $5,130 $20,550
2021 $1,033 $23,370 $4,670 $18,700
2020 $1,007 $20,950 $4,190 $16,760
2019 $988 $15,210 $3,040 $12,170
2018 $961 $12,930 $2,580 $10,350
2017 $957 $10,250 $2,050 $8,200
2016 $940 $9,450 $1,890 $7,560
2015 $871 $9,210 $1,840 $7,370
Source: Public Records

Agents Affiliated with this Home

  • John Shurr

    Seller's Agent in 2017

    John Shurr

    West USA Realty

    (602) 291-4300

    32 Total Sales

    John Shurr
    Section Image
  • Naleka Pegueros

    Buyer's Agent in 2017

    Naleka Pegueros

    eXp Realty

    (623) 703-8612

    119 Total Sales

    Naleka Pegueros
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5562427

Arizona Regional Multiple Listing Service (ARMLS)

APN: 159-29-037

Arizona Maricopa County Phoenix 85020 North Central

1509 E Cinnabar 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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