NOT LISTED FOR SALE

209 E Morelos St Chandler, AZ 85225

Downtown Chandler Neighborhood

Estimated Value: $499,000 - $662,000

-- Bed
-- Bath
2,484 Sq Ft
$229/Sq Ft Est. Value

Last Sold January 05, 2017

Last sale price $220,000 $89 Per Sq Ft

Est. 158% increase in value since last sale

Current estimated payment $3,265/month

15 Days on Market

Highlights

  • Multiple cooling system units
  • Ceiling Fan
  • 2-minute walk to Winn Park
  • Willis Junior High School Rated A-
  • Multiple Heating Units

About This Home

As of January 2017

Great investment opportunity, fully occupied, cash flowing 4 Plex in the heart of Downtown Chandler. 2 of the tenants have been there for 1.5 and 3 years but now month to month. The other 2 tenants were just secured in September and signed 1 year leases. This is a great investment opportunity in the up and coming downtown area with a lot of re gentrification already in process. Rental rates are below market, opportunity to increase CAP rate and property value.

Last Agent to Sell the Property

Brook Miller

RE/MAX Solutions License #BR533974000 Listed on: 11/23/2016

RE/MAX Solutions

Last Buyer's Agent

Brook Miller

RE/MAX Solutions License #BR533974000 Listed on: 11/23/2016

RE/MAX Solutions

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,008

Year Built

  • Built in 1974

Lot Details

  • 6,970

Home Design

  • Composition Roof
  • Built-Up Roof
  • Block Exterior

Interior Spaces

  • Ceiling Fan

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Schools

  • Frye Elementary School
  • Willis Junior High School
  • Chandler High School

Utilities

  • Multiple cooling system units
  • Central Air
  • Multiple Heating Units
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 97
  • Assessor Parcel Number 303-17-137

Community Details

Overview

  • 4 Units
  • Building Dimensions are 49.50 x 141.51

Building Details

  • Operating Expense $6,010
  • Net Operating Income $14,390

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,008

Year Built

Built in 1974

Lot Details

0

Listing Details

  • Cross Street: PECOS AND ARIZONA AVENUE
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MULIT-FAMILY
  • Number Of Buildings: 1
  • Year Built: 1974
  • Tax Year: 2016
  • Directions: North on Pecos, East on Morelos
  • Road Surface Type: Asphalt
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm, Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: Composition, Built-Up
  • 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:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP, Master Meter, Individual Meter
  • Cooling: 2 or More Units, Central A/C, Ceiling Fan(s)
  • Heating: Individual, 2 or More Units, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Individual: Yes
  • Heating:_two_ or More Units3: Yes
  • Electric Master Meter: Yes

Condo/Co-op/Association

  • Community Features: No Pool
  • Amenities: Other

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes

Fee Information

  • Trash Expense: 1409.88
  • Annual Water Sewer Expense: 679.2

Schools

  • Elementary School: Frye Elementary School
  • High School: Chandler High School
  • Middle Or Junior School: Willis Junior High School

Lot Info

  • Lot Size: 49.50 x 141.51
  • Additional Parcels: No
  • Parcel #: 303-17-137

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Electric Expense: 440.28
  • Insurance Expense: 1272.48
  • Property Net Operating Income: 14390.16
  • Annual Operating Expense: 6009.84

Tax Info

  • Tax Annual Amount: 1008.0
  • Tax Book Number: 303.00
  • Tax Lot: 97

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 23, 2016
Closed on
Jan 5, 2017
Sold by
Lee James and Lee Vanessa
Bought by
Focus Llc
Seller's Agent
Brook Miller
RE/MAX Solutions
Buyer's Agent
Brook Miller
RE/MAX Solutions
List Price
$250,000
Sold Price
$220,000
Premium/Discount to List
-$30,000
-12%
Current Estimated Value
$567,754

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$347,754
Avg. Annual Appreciation
13.22%
Original Mortgage
$165,000
Outstanding Balance
$138,265
Interest Rate
4.03%
Mortgage Type
New Conventional
Estimated Equity
$490,046

Purchase Details

Listed on
Nov 23, 2016
Closed on
Dec 27, 2016
Sold by
Howard Zoe
Bought by
Lee James and Lee Vanessa
Seller's Agent
Brook Miller
RE/MAX Solutions
Buyer's Agent
Brook Miller
RE/MAX Solutions
List Price
$250,000
Sold Price
$220,000
Premium/Discount to List
-$30,000
-12%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,000
Outstanding Balance
$138,265
Interest Rate
4.03%
Mortgage Type
New Conventional
Estimated Equity
$490,046

Purchase Details

Closed on
Jul 13, 2010
Sold by
Fannie Mae
Bought by
Howard Zoe

Purchase Details

Closed on
Feb 10, 2010
Sold by
Ortiz Abacu
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Aug 4, 1997
Sold by
Bohnert Curtis R and Bohnert Barbara I
Bought by
Ortiz Abacu

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$87,423
Interest Rate
7.42%
Mortgage Type
FHA

Purchase Details

Closed on
Aug 18, 1995
Sold by
Bohnert Curits R and Bohnert Barbara I
Bought by
Alber Tom L and Alber Carolyn
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
Focus Llc -- Accommodation
Lee James $220,000 Clear Title Agency Of Az Llc
Howard Zoe $64,900 Stewart Title & Trust Of Pho
Federal National Mortgage Association $183,035 Great American Title Agency
Ortiz Abacu $88,000 Lawyers Title Of Arizona Inc
Alber Tom L $17,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lee James $165,000
Previous Owner Ortiz Abacu $179,000
Previous Owner Ortiz Abacu $87,423
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/05/2017 01/05/17 Sold $220,000 -12.0% $89 / Sq Ft
11/23/2016 11/23/16 For Sale $250,000 -- $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 $1,220 $13,259 -- --
2024 $1,197 $12,628 -- --
2023 $1,197 $45,680 $9,130 $36,550
2022 $1,159 $31,660 $6,330 $25,330
2021 $1,191 $26,330 $5,260 $21,070
2020 $1,184 $24,780 $4,950 $19,830
2019 $1,143 $17,430 $3,480 $13,950
2018 $1,110 $15,660 $3,130 $12,530
2017 $1,043 $16,180 $3,230 $12,950
2016 $1,008 $13,750 $2,750 $11,000
2015 $966 $13,200 $2,640 $10,560
Source: Public Records

Agents Affiliated with this Home

  • Brook Miller

    Seller's Agent in 2017

    Brook Miller

    RE/MAX

    (602) 391-7164

    1 in this area

    149 Total Sales

    Brook Miller
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5528683

Arizona Regional Multiple Listing Service (ARMLS)

APN: 303-17-137

Arizona Maricopa County Chandler 85225 Downtown Chandler

209 E Morelos St, Chandler, AZ

This home is located at 209 E Morelos St, Chandler, AZ 85225 since 23 November 2016 and is currently estimated at $567,754, approximately $228 per square foot. This property was built in 1974. 209 E Morelos St is a home located in Maricopa County with nearby schools including Frye Elementary School, Willis Junior High School, and Champion Schools Chandler.

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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