NOT LISTED FOR SALE

Estimated Value: $219,000 - $480,823

1 Bed
3 Baths
1,437 Sq Ft
$246/Sq Ft Est. Value

Last Sold February 24, 2017

Last sale price $570,000 $397 Per Sq Ft

Est. 38% decrease in value since last sale

Current estimated payment $1,957/month

128 Days on Market

Highlights

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

About This Home

As of February 2017

Dragon Fly offers an investor in place cash flow with room to grow. The current owner has invested time & money in fostering a community here and the rents show. Very rare to achieve Cap Rates at or above 8% in today's market. This community was constructed in 1926, rehabbed, and stabilized as recently as 2014. The unit mix consists of 3 two bedroom units and 8 one bedroom units. Construction is of red brick, painted wood/brick exterior, and tab shingle roofs. Desert landscaping throughout and mature palm trees. The property is individually metered for electricity and owner pays water ,sewer, & trash. The 11 units sit on nearly a half acre of land. The area is trending with many recent improvements to existing homes along
Washington St in the immediate area.

Last Agent to Sell the Property

Wendy Nelson

West USA Realty License #SA563178000 Listed on: 10/19/2016

Last Buyer's Agent

Hani Aldulaimi

Keller Williams Realty East Valley License #BR533683000

Keller Williams Realty East Valley

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,737

Year Built

  • Built in 1926

Lot Details

  • 7,013

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Stucco
  • Adobe

Parking

  • 14 Open Parking Spaces
  • 14 Parking Spaces

Utilities

  • Cooling Available
  • Heating Available

Additional Features

  • Wood Flooring
  • Additional Parcels

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Legal Lot and Block 16 / 47
  • Assessor Parcel Number 109-32-016

Community Details

Overview

  • 11 Buildings
  • 11 Units
  • Building Dimensions are 49'X140' per lot(3 lots total)
  • Capitol Blk 43, 44, 35 38, 29, 30 Subdivision

Building Details

  • Operating Expense $22,935
  • Gross Income $79,667
  • Net Operating Income $51,867

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,737

Year Built

Built in 1926

Lot Details

0

Listing Details

  • Cross Street: 21st Ave & Washington St
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 11
  • Year Built: 1926
  • Tax Year: 2016
  • Directions: From Van Buren St & 19th Ave head South on 19th Ave. Go West on Washington St, just past 21st Ave. The property will be on the north side of the street.
  • Attribution Contact: jbell@luxhomerealtyaz.com
  • Road Surface Type: Asphalt
  • Professional Management Expense: 5348.0
  • Subdivision Name: CAPITOL BLK 43, 44, 35-38, 29, 30
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Wood
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

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

Garage/Parking

  • Open Parking Spaces: 14.0
  • Total Parking Spaces: 14.0
  • General Property Description:Uncvrd Parking Spcs: 14.0
  • General Property Description:Total Parking Spcs: 14.0
  • Parking:_one_ SpaceUnit: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Interior Amenities:Other (See Remarks)51: Yes

Fee Information

  • Trash Expense: 250.0
  • Annual Water Sewer Expense: 1000.0

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Lot Size: 49'X140' per lot(3 lots total)
  • Additional Parcels: Yes
  • Parcel #: 109-32-016

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 11
  • Electric Expense: 250.0
  • Annual Gross Income: 79667.0
  • Insurance Expense: 5150.0
  • Maintenance Expense: 3000.0
  • Property Net Operating Income: 51867.0
  • Annual Operating Expense: 22935.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1737.0
  • Tax Block: 47
  • Tax Book Number: 109.00
  • Tax Lot: 16

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 9, 2025
Sold by
Gwin Ira Ernest and Gwin Elizabeth
Bought by
Amloc Real Estate Group Llc
Current Estimated Value
$353,206

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,025,000
Outstanding Balance
$1,025,000
Interest Rate
6.63%
Mortgage Type
New Conventional
Estimated Equity
-$613,441

Purchase Details

Closed on
Oct 19, 2022
Sold by
Gwin Roman and Gwin Ira Ernest
Bought by
Gwin Ira Ernest and Gwin Elizabeth

Purchase Details

Closed on
Jan 23, 2018
Sold by
Gwin Ira Ernest and Gwin Elizabeth
Bought by
Gwin Roman

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,230
Interest Rate
3.93%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Oct 19, 2016
Closed on
Feb 16, 2017
Sold by
Sanjel Krum Investments Az Llc
Bought by
Gwin Ira Ernest and Gwin Elizabeth
Seller's Agent
Wendy Nelson
West USA Realty
Buyer's Agent
Hani Aldulaimi
Keller Williams Realty East Valley
List Price
$650,000
Sold Price
$570,000
Premium/Discount to List
-$80,000
-12.31%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-3.74%
Original Mortgage
$348,700
Interest Rate
4.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 15, 2013
Sold by
Freeman Theodore L and Freeman Susan B
Bought by
Sanjel Krum Investments Az Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$222,000
Interest Rate
4.33%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 10, 2012
Sold by
Russell William M
Bought by
Liv Theodore L Freeman and Liv Susan B Freeman

Purchase Details

Closed on
Mar 5, 2010
Sold by
Federal Home Loan Mortgage Corporation
Bought by
Russell William M

Purchase Details

Closed on
Jul 30, 2009
Sold by
Gardner Todd and Porter Steve
Bought by
Federal Home Loan Mortgage Corporation

Purchase Details

Closed on
Jan 27, 2006
Sold by
Gardner Todd and Porter Steve
Bought by
S T A T 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
$136,000
Interest Rate
6.75%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 13, 2005
Sold by
Porter Alexandra
Bought by
Porter Steve

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,000
Interest Rate
6.75%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 12, 2005
Sold by
W & W Inc Associates
Bought by
Twenty One Thirty West Washington Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,000
Interest Rate
6.75%
Mortgage Type
Commercial
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
Amloc Real Estate Group Llc $1,220,000 Stewart Title & Trust Of Phoen
Gwin Ira Ernest -- Professional Escrow Resources
Gwin Roman $355,000 Old Republic Title Agency
Gwin Ira Ernest $570,000 Equity Title Agency Inc
Sanjel Krum Investments Az Llc $222,000 Driggs Title Agency Inc
Liv Theodore L Freeman $200,000 Empire West Title Agency
Russell William M -- None Available
Federal Home Loan Mortgage Corporation $68,292 Security Title Agency
S T A T Properties Llc -- Grand Canyon Title Agency In
Porter Steve -- Grand Canyon Title Agency In
Gardner Todd -- Grand Canyon Title Agency In
Gardner Todd $170,000 Grand Canyon Title Agency In
Twenty One Thirty West Washington Trust $205,000 Grand Canyon Title Agency In
Twenty One Thirty Four West Washington T $136,000 Grand Canyon Title Agency In
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Amloc Real Estate Group Llc $1,025,000
Previous Owner Gwin Ira $75,000
Previous Owner Gwin Roman $220,230
Previous Owner Gwin Ira Ernest $348,700
Previous Owner Sanjel Krum Investments Az Llc $91,100
Previous Owner Sanjel Krum Investments Az Llc $253,712
Previous Owner Sanjel Krum Investments Az Llc $58,500
Previous Owner Daniel Krum Az Llc $72,336
Previous Owner Sanjel Krum Investment Az Llc $85,140
Previous Owner Sanjel Krum Investments Az Llc $222,000
Previous Owner Gardner Todd $136,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/24/2017 02/24/17 Sold $570,000 -12.3% $397 / Sq Ft
02/23/2017 02/23/17 Pending -- -- --
02/23/2017 02/23/17 For Sale $650,000 0.0% $452 / Sq Ft
02/23/2017 02/23/17 Price Changed $650,000 0.0% $452 / Sq Ft
01/04/2017 01/04/17 Pending -- -- --
01/04/2017 01/04/17 For Sale $650,000 0.0% $452 / Sq Ft
11/16/2016 11/16/16 Pending -- -- --
10/18/2016 10/18/16 For Sale $650,000 -- $452 / 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 $569 $4,252 -- --
2024 $563 $4,049 -- --
2023 $563 $20,620 $4,120 $16,500
2022 $543 $13,610 $2,720 $10,890
2021 $539 $11,980 $2,390 $9,590
2020 $545 $9,650 $1,930 $7,720
2019 $544 $8,310 $1,660 $6,650
2018 $535 $6,880 $1,370 $5,510
2017 $523 $6,220 $1,240 $4,980
2016 $508 $4,430 $880 $3,550
2015 $470 $3,550 $710 $2,840
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5513321

Arizona Regional Multiple Listing Service (ARMLS)

APN: 109-32-016