NOT LISTED FOR SALE

Estimated Value: $317,000 - $405,000

-- Bed
2 Baths
1,139 Sq Ft
$318/Sq Ft Est. Value

Last Sold February 29, 2016

Last sale price $149,900 $132 Per Sq Ft

Est. 142% increase in value since last sale

Current estimated payment $2,045/month

238 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Heating Available

About This Home

As of February 2016

Two detached residences, both with 3 bedrooms and 2 bathrooms, rented and cash flowing. Good tenants and recent improvements make this a solid investment. Buyer can investigate the potential to split lot too. No common walls, good parking, good location and private backyards make these attractive rentals. Low operating expenses provide good cash flow.

Last Agent to Sell the Property

Jon Conelly

FSR Realty License #BR094120000 Listed on: 06/23/2015

Last Buyer's Agent

Jon Conelly

Mandalay Realty Inc

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,291

Year Built

  • Built in 2003

Lot Details

  • 0.27

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Assigned Parking

Schools

  • Roosevelt Elementary School
  • South Mountain High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for water, sewer, cable TV, landscaping
  • Tax Block 3003
  • Assessor Parcel Number 122-40-025-E

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Building Dimensions are 11815

Building Details

  • Operating Expense $2,413
  • Net Operating Income $14,690

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,291

Year Built

Built in 2003

Lot Details

0

Listing Details

  • Cross Street: 16TH ST & BROADWAY
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: RES
  • Number Of Buildings: 2
  • Year Built: 2003
  • Tax Year: 2014
  • Road Surface Type: Asphalt
  • Tax Parcel Letter: E
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: See Remarks, Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Parking Features: Assigned
  • Attached Garage: No
  • 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:_greater_1 Space Per Unit: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:RVBoat Parking2: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Community Amenities:Other18: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:See Remarks15: Yes

Schools

  • Elementary School: Roosevelt Elementary School
  • High School: South Mountain High School
  • Middle Or Junior School: Roosevelt Elementary School

Lot Info

  • Lot Size: 11815
  • Additional Parcels: No
  • Parcel #: 122-40-025-E

Multi Family

  • Owner Pays: None
  • Tenant Pays: Water, Sewer, Cable TV, Landscaping
  • Number Of Units Total: 2
  • Insurance Expense: 822.0
  • Maintenance Expense: 300.0
  • Property Net Operating Income: 14690.0
  • Annual Operating Expense: 2413.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1291.0
  • Tax Block: 3003
  • Tax Book Number: 122.00
  • Tax Lot: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 23, 2015
Closed on
Feb 23, 2016
Sold by
Odf Investments Llc
Bought by
United Business Invest Inc
Seller's Agent
Jon Conelly
FSR Realty
Buyer's Agent
Jon Conelly
FSR Realty
List Price
$149,900
Sold Price
$149,900
Current Estimated Value
$362,058

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$212,158
Avg. Annual Appreciation
9.39%

Purchase Details

Listed on
Mar 28, 2012
Closed on
Apr 25, 2012
Sold by
U S Bank National Association
Bought by
Odf Investments Llc
Seller's Agent
Michael Farrell
Lifestyle Realty
Buyer's Agent
Jon Conelly
FSR Realty
List Price
$49,900
Sold Price
$55,000
Premium/Discount to List
$5,100
10.22%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
30.01%

Purchase Details

Closed on
Dec 16, 2011
Sold by
Ledezma Juan
Bought by
U S Bank National Association

Purchase Details

Closed on
Mar 29, 2006
Sold by
Arellano Ismael Cortez
Bought by
Cortez Rosa Chavez

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,000
Interest Rate
8.83%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 1, 2006
Sold by
Chavez J Guadalupe Arellano and Arellano Gabriel
Bought by
Ledezma Juan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,000
Interest Rate
8.83%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 8, 2005
Sold by
Arellano Ismael Cortez and Cortez Ismael
Bought by
Cortez Rosa Chavez

Purchase Details

Closed on
Jul 29, 2003
Sold by
Cortez Rosa Chavez
Bought by
City Of Phoenix

Purchase Details

Closed on
May 28, 2003
Sold by
Hernandez Manuel
Bought by
Almeida Ernesto

Purchase Details

Closed on
May 14, 2003
Sold by
Almeida Ernesto
Bought by
Chavez J Guadalupe Arellano and Arellano Gabriel

Purchase Details

Closed on
Mar 11, 2003
Sold by
Almeida Ernesto
Bought by
Hernandez Manuel

Purchase Details

Closed on
Jun 12, 2002
Sold by
Almeida Ernesto
Bought by
City Of Phoenix

Purchase Details

Closed on
Apr 22, 2002
Sold by
Almeida Ernesto
Bought by
Almeida Ernesto
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
United Business Invest Inc $149,900 Pioneer Title Agency Inc
Odf Investments Llc $55,000 Guaranty Title Agency
U S Bank National Association $54,000 None Available
Cortez Rosa Chavez -- Grand Canyon Title Agency In
Arellano Gabriel -- Grand Canyon Title Agency In
Chavez J Guadalupe Arellano -- Grand Canyon Title Agency In
Ledezma Juan $280,000 Grand Canyon Title Agency In
Cortez Rosa Chavez -- Grand Canyon Title Agency In
Arellano Gabriel -- Grand Canyon Title Agency In
Chavez J Guadalupe Arellano -- Grand Canyon Title Agency In
City Of Phoenix -- --
City Of Phoenix -- --
Almeida Ernesto -- --
Almeida Ernesto -- --
Chavez J Guadalupe Arellano $15,000 --
Hernandez Manuel -- --
Hernandez Manuel -- --
City Of Phoenix -- --
City Of Phoenix -- --
Almeida Ernesto -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ledezma Juan $252,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/29/2016 02/29/16 Sold $149,900 0.0% $132 / Sq Ft
02/10/2016 02/10/16 Pending -- -- --
06/17/2015 06/17/15 For Sale $149,900 +172.5% $132 / Sq Ft
05/07/2012 05/07/12 Sold $55,000 +10.2% $25 / Sq Ft View Prior Sale
04/25/2012 04/25/12 Pending -- -- --
03/28/2012 03/28/12 For Sale $49,900 -- $23 / 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 $1,770 $11,740 -- --
2024 $1,675 $11,181 -- --
2023 $1,675 $28,050 $5,360 $22,690
2022 $1,642 $20,660 $3,950 $16,710
2021 $1,675 $18,900 $3,610 $15,290
2020 $1,655 $17,680 $3,380 $14,300
2019 $1,601 $15,130 $2,890 $12,240
2018 $1,558 $16,010 $3,060 $12,950
2017 $1,485 $13,560 $2,590 $10,970
2016 $1,412 $12,580 $2,400 $10,180
2015 $1,329 $10,890 $2,080 $8,810
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5297613

Arizona Regional Multiple Listing Service (ARMLS)

APN: 122-40-025E