2502 N 29th Place Phoenix, AZ 85008
Camelback East Village NeighborhoodEstimated Value: $598,000 - $648,523
5
Beds
4
Baths
2,450
Sq Ft
$254/Sq Ft
Est. Value
Highlights
- 0.31 Acre Lot
- No HOA
- Evaporated cooling system
- Phoenix Coding Academy Rated A
- Eat-In Kitchen
- Patio
About This Home
As of January 2022RARE Rental Investment Opportunity in the heart of Camelback East & the desirable 85008 zipcode. This investment consists of 2 Single Family Detached homes along w/ a SEPARATE single story 2 Unit Duplex, all on an oversized lot/13,375 sqft. Majority of tenants do prefer Single Family detached or duplex properties such as these for greater autonomy, which allows for premium rents This is a large corner lot w/no shortage of parking on-site. See additional rental cap rates & proforma information (click on more) There is such flexibility with use of this property for multigenerational families living, office(s) for your work at home/home business, homeschooling/ or co-op areas, or as a value add fix/improve/flip even. Proximity to downtown Phx & accessibility to I-10/ the 51/and 202 Freeways along with the areas strong economic landscape and established employment opportunities supplies an endless source of your target tenants. Just another bonus is being only minutes to Sky Harbor Airport, Tempe Marketplace, and ASU. Camelback East location is close to the Biltmore/ Arcadia areas but also provides access to a growing restaurant scene dispersed across Central Phoenix and Scottsdale providing one-of-a kind dining across all cuisine types.
RENTAL Investment Information:
Seller hasn't increased rents for over a decade so great value add opportunity with the current low rental home inventory. With actual current NOI at $31K (cap rate 5.16), & legitimate $43K (cap rate 7.16) proforma based on current comparable rents w/just some cleanup/maintenance & $58K (cap rate 9.67) w/just typical basic updating/upgrades.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,541
Year Built
- Built in 1945
Lot Details
- 0.31 Acre Lot
- Partially Fenced Property
Home Design
- Wood Frame Construction
- Composition Roof
Interior Spaces
- 2,450 Sq Ft Home
- 1-Story Property
Kitchen
- Eat-In Kitchen
- Gas Cooktop
Flooring
- Carpet
- Linoleum
- Tile
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Bathrooms
Schools
- Creighton Elementary School
- Camelback High School
Utilities
- Evaporated cooling system
- Floor Furnace
- Heating System Uses Natural Gas
- Wall Furnace
- High Speed Internet
Additional Features
- No Interior Steps
- Patio
Listing and Financial Details
- Tax Lot 73
- Assessor Parcel Number 120-25-021
Community Details
Overview
- No Home Owners Association
- Association fees include no fees
- East Thomas Road Tract 2 Subdivision
Amenities
- No Laundry Facilities
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Oct 13, 2022
Sold by
Risi Investments Llc
Bought by
Risi Holdings Llc
Total Days on Market
11
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$770,000
Outstanding Balance
$745,345
Interest Rate
6.02%
Mortgage Type
New Conventional
Estimated Equity
-$122,714
Purchase Details
Listed on
Dec 2, 2021
Closed on
Dec 27, 2021
Sold by
2914 Llc
Bought by
Risi Investments Llc
Seller's Agent
Shelly Baumer
DPR Realty LLC
Buyer's Agent
John Risi
HomeSmart
List Price
$600,000
Sold Price
$580,000
Premium/Discount to List
-$20,000
-3.33%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.12%
Original Mortgage
$480,000
Interest Rate
3.11%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 26, 2014
Sold by
Pollock Kevin G and Pollock Sandra R
Bought by
Pollock Sandra R
Purchase Details
Closed on
Jul 9, 2012
Sold by
Amerian Estate & Trust
Bought by
Vantage
Purchase Details
Closed on
Mar 11, 2012
Sold by
Vantage
Bought by
2914 Llc
Purchase Details
Closed on
Dec 21, 2011
Sold by
Laster Huda A
Bought by
Huda A Laster Living Trust
Purchase Details
Closed on
Jan 4, 2011
Sold by
Keeler Ted R and Keeler Dora M
Bought by
American Estate & Trust Lc
Purchase Details
Closed on
Sep 8, 2010
Sold by
Padilla Alfonso
Bought by
Keeler Ted R and Keeler Dora M
Purchase Details
Closed on
Sep 29, 2009
Sold by
Padilla Alfonso
Bought by
Cactus Real Estate Investments Llc
Purchase Details
Closed on
May 23, 2006
Sold by
Padilla Rebecca
Bought by
Padilla Alfonso
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
6.56%
Mortgage Type
Commercial
Purchase Details
Closed on
May 22, 2006
Sold by
Keeler Ted R and Keeler Dora M
Bought by
Padilla Alfonso
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
6.56%
Mortgage Type
Commercial
Purchase Details
Closed on
May 19, 2006
Sold by
Keeler Ted R and Keeler Dora M
Bought by
Padilla Alfonso
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
6.56%
Mortgage Type
Commercial
Purchase Details
Closed on
May 10, 2004
Sold by
Bond Properties Llc
Bought by
Keeler Ted R and Keeler Dora M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$148,000
Interest Rate
3.95%
Mortgage Type
Commercial
Purchase Details
Closed on
Apr 2, 2004
Sold by
Baldwin Phillip E and Baldwin Gladys Y
Bought by
Bond 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
$135,000
Interest Rate
5.5%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 29, 1996
Sold by
Laster Thomas and Laster Huda
Bought by
Baldwin Phillip E and Baldwin Gladys Y
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$84,660
Interest Rate
7.63%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 12, 1995
Sold by
Hagler Gary
Bought by
Laster Thomas and Laster Huda
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Similar Homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Risi Holdings Llc | -- | American Title Services | |
| Risi Investments Llc | $580,000 | Pioneer Title Agency Inc | |
| Pollock Sandra R | -- | None Available | |
| Vantage | $156,494 | None Available | |
| 2914 Llc | -- | None Available | |
| Huda A Laster Living Trust | -- | None Available | |
| American Estate & Trust Lc | -- | Lawyers Title Of Arizona Inc | |
| Keeler Ted R | $175,000 | Security Title Agency | |
| Cactus Real Estate Investments Llc | -- | Lawyers Title Of Arizona Inc | |
| Padilla Alfonso | -- | Capital Title Agency Inc | |
| Padilla Alfonso | $125,000 | Capital Title Agency Inc | |
| Padilla Alfonso | $250,000 | Capital Title Agency Inc | |
| Keeler Ted R | $150,000 | -- | |
| Bond Properties Llc | $130,000 | -- | |
| Baldwin Phillip E | $83,000 | Grand Canyon Title Agency In | |
| Laster Thomas | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Risi Holdings Llc | $770,000 | |
| Previous Owner | Risi Investments Llc | $480,000 | |
| Previous Owner | 2914 Llc | $125,195 | |
| Previous Owner | Padilla Alfonso | $220,000 | |
| Previous Owner | Padilla Alfonso | $220,000 | |
| Previous Owner | Padilla Alfonso | $220,000 | |
| Previous Owner | Keeler Ted R | $148,000 | |
| Previous Owner | Keeler Ted R | $135,000 | |
| Previous Owner | Baldwin Phillip E | $84,660 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 01/03/2022 01/03/22 | Sold | $580,000 | -3.3% | $237 / Sq Ft |
| 01/03/2022 01/03/22 | Price Changed | $600,000 | 0.0% | $245 / Sq Ft |
| 12/13/2021 12/13/21 | Pending | -- | -- | -- |
| 12/02/2021 12/02/21 | For Sale | $600,000 | -- | $245 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
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 | $1,584 | $12,186 | -- | -- |
| 2024 | $1,566 | $11,606 | -- | -- |
| 2023 | $1,566 | $48,900 | $9,780 | $39,120 |
| 2022 | $1,505 | $36,730 | $7,340 | $29,390 |
| 2021 | $1,541 | $31,130 | $6,220 | $24,910 |
| 2020 | $1,504 | $25,380 | $5,070 | $20,310 |
| 2019 | $1,493 | $20,050 | $4,010 | $16,040 |
| 2018 | $1,462 | $16,510 | $3,300 | $13,210 |
| 2017 | $1,406 | $16,050 | $3,210 | $12,840 |
| 2016 | $1,351 | $13,530 | $2,700 | $10,830 |
| 2015 | $1,257 | $11,820 | $2,360 | $9,460 |
Source: Public Records
Agents Affiliated with this Home
-
Shelly Baumer
S
Seller's Agent in 2022
Shelly Baumer
DPR Realty
(480) 215-7657
1 in this area
12 Total Sales
-
J
Buyer's Agent in 2022
John Risi
HomeSmart
(602) 615-6900
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6329264
APN: 120-25-021
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.
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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