Seller's Agent in 2024
Paul Bay
Marcus & Millichap
(480) 600-2626
1 in this area
19 Total Sales
2525 E Monroe St Phoenix, AZ 85034
Central City NeighborhoodEstimated Value: $467,000 - $594,000
--
Bed
--
Bath
--
Sq Ft
1962
Built
Highlights
- Cooling System Mounted To A Wall/Window
- Ceiling Fan
- Individual Controls for Heating
- Phoenix Coding Academy Rated A
- Carpet
About This Home
As of August 2024Monroe 4 (''the property'') is a 4-unit apartment community located near the 24th Street and Van Buren Street intersection, positioned less than a mile from the intersection of three significant Phoenix Metro thoroughfares, Loop 202, Interstate 10, and AZ-51, offering outstanding mobility throughout Phoenix Metro. Located 2.3 Miles from Downtown Phoenix and 4 Miles from the Biltmore financial district, residents have access to some of Arizona's most dynamic professional corridors featuring employers such as Accenture, Ernst Young, Arizona State University, Cisco, Merrill Lynch, Charles Schwab, Humana, Fennemore Craig, and UBS. Developed in 1962, Monroe 4 is comprised entirely of two-bedroom floor plans, each offering an average of 621 square feet. Future ownership will have the opportunity to capitalize on the current below-market rents by raising new-lease rates to match those achieved by similar properties nearby. Additionally, there is also the opportunity to upgrade each of the 4 units with various interior finishes in order to realize the associated renovation premiums.
Last Agent to Sell the Property
Marcus & Millichap License #SA671037000 Listed on: 07/09/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $975
Year Built
- Built in 1962
Home Design
- Wood Frame Construction
- Composition Roof
- Stucco
Interior Spaces
- Ceiling Fan
Flooring
- Carpet
- Vinyl
Parking
- 6 Open Parking Spaces
- 6 Parking Spaces
- Over 1 Space Per Unit
Utilities
- Cooling System Mounted To A Wall/Window
- Individual Controls for Heating
- Window Unit Heating System
Listing and Financial Details
- The owner pays for trash collection, water, sewer
- Assessor Parcel Number 121-63-123
Community Details
Overview
- 2 Buildings
- 4 Units
- Building Dimensions are 0.16
Building Details
- Operating Expense $11,464
- Gross Income $54,919
- Net Operating Income $40,255
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 9, 2024
Closed on
Aug 23, 2024
Sold by
Schneider Richard and Schneider Alexandra
Bought by
Bgtr Group Llc
Seller's Agent
Paul Bay
Marcus & Millichap
Buyer's Agent
Jonathan Leaman
Apex Residential
List Price
$659,000
Sold Price
$570,000
Premium/Discount to List
-$89,000
-13.51%
Views
20
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$59,901
Avg. Annual Appreciation
-7.90%
Original Mortgage
$427,500
Outstanding Balance
$422,736
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$87,363
Purchase Details
Listed on
Jul 9, 2024
Closed on
Aug 20, 2024
Sold by
Mandalia Shelina
Bought by
Schneider Richard and Schneider Alexandra
Seller's Agent
Paul Bay
Marcus & Millichap
Buyer's Agent
Jonathan Leaman
Apex Residential
List Price
$659,000
Sold Price
$570,000
Premium/Discount to List
-$89,000
-13.51%
Views
20
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$427,500
Outstanding Balance
$422,736
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$87,363
Purchase Details
Closed on
Mar 4, 2020
Sold by
Mandalia Neetan
Bought by
Mandalia Shelma
Purchase Details
Closed on
Jun 29, 2016
Sold by
Mandalia Shelina
Bought by
Mandalia Neetan
Purchase Details
Listed on
Jan 18, 2012
Closed on
Jan 31, 2012
Sold by
Mandalia Tiffany Garcia
Bought by
Mandalia Neetan
Seller's Agent
George Laughton
My Home Group Real Estate
Buyer's Agent
Scott Gibson
My Home Group Real Estate
List Price
$46,900
Sold Price
$46,900
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.70%
Original Mortgage
$46,900
Interest Rate
3.88%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 18, 2012
Closed on
Jan 25, 2012
Sold by
Federal National Mortgage Association
Bought by
Mandalia Neetan and Mandalia Shelinda
Seller's Agent
George Laughton
My Home Group Real Estate
Buyer's Agent
Scott Gibson
My Home Group Real Estate
List Price
$46,900
Sold Price
$46,900
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$46,900
Interest Rate
3.88%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 18, 2012
Closed on
Dec 9, 2011
Sold by
Citimortgage Inc
Bought by
Federal National Mortgage Association
Seller's Agent
George Laughton
My Home Group Real Estate
Buyer's Agent
Scott Gibson
My Home Group Real Estate
List Price
$46,900
Sold Price
$46,900
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$46,900
Interest Rate
3.88%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 18, 2012
Closed on
Dec 7, 2011
Sold by
Marin Hercula S
Bought by
Citimortgage Inc
Seller's Agent
George Laughton
My Home Group Real Estate
Buyer's Agent
Scott Gibson
My Home Group Real Estate
List Price
$46,900
Sold Price
$46,900
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$46,900
Interest Rate
3.88%
Mortgage Type
New Conventional
Purchase Details
Closed on
Aug 8, 2005
Sold by
Marin Silvia M
Bought by
Marin Herculano S
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$141,000
Interest Rate
5.7%
Mortgage Type
New Conventional
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
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Bgtr Group Llc | -- | -- | |
| Schneider Richard | $570,000 | Navi Title Agency | |
| Mandalia Shelma | -- | None Available | |
| Mandalia Neetan | -- | None Available | |
| Mandalia Neetan | -- | Fidelity Natl Title Agency I | |
| Mandalia Neetan | $46,900 | Fidelity Natl Title Agency I | |
| Federal National Mortgage Association | -- | First American Title | |
| Citimortgage Inc | $147,277 | First American Title | |
| Marin Herculano S | -- | Security Title Agency Inc |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Schneider Richard | $427,500 | |
| Previous Owner | Mandalia Neetan | $46,900 | |
| Previous Owner | Marin Herculano S | $141,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/20/2024 08/20/24 | Sold | $570,000 | -13.5% | -- | |
| 07/09/2024 07/09/24 | For Sale | $659,000 | +1305.1% | -- | |
| 01/31/2012 01/31/12 | Sold | $46,900 | 0.0% | -- | View Prior Sale |
| 01/23/2012 01/23/12 | Pending | -- | -- | -- | |
| 01/18/2012 01/18/12 | For Sale | $46,900 | -- | -- |
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 | $988 | $7,085 | -- | -- |
| 2024 | $929 | $6,748 | -- | -- |
| 2023 | $929 | $31,600 | $6,320 | $25,280 |
| 2022 | $875 | $22,350 | $4,470 | $17,880 |
| 2021 | $887 | $17,680 | $3,530 | $14,150 |
| 2020 | $884 | $14,960 | $2,990 | $11,970 |
| 2019 | $880 | $13,000 | $2,600 | $10,400 |
| 2018 | $869 | $10,610 | $2,120 | $8,490 |
| 2017 | $808 | $10,230 | $2,040 | $8,190 |
| 2016 | $827 | $7,800 | $1,560 | $6,240 |
| 2015 | $769 | $6,350 | $1,270 | $5,080 |
Source: Public Records
Agents Affiliated with this Home
-
Paul Bay
-
Jonathan Leaman
Buyer's Agent in 2024
Jonathan Leaman
Apex Residential
(602) 750-4285
3 in this area
135 Total Sales
-
George Laughton
Seller's Agent in 2012
George Laughton
My Home Group Real Estate
(623) 462-3017
7 in this area
2,842 Total Sales
-
B
Seller Co-Listing Agent in 2012
Bobby Derryberry
My Home Group
-
S
Buyer's Agent in 2012
Scott Gibson
My Home Group Real Estate
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6728959
APN: 121-63-123
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
Nearby Homes
- 2505 E Monroe St
- 2440 E Monroe St
- 2515 E Adams St
- 2502 E Washington St
- 2802 E Van Buren St
- 2821 E Adams St
- 510 N 23rd St Unit 35
- 2230 E Taylor St
- 2912 E Monroe St
- 1729 E Jefferson St Unit 5
- 1008 N 27th St
- 1008 N 24th St
- 2708 E Roosevelt St
- 1002 N 27th Place
- 2223 E Roosevelt St
- 2236 E Roosevelt St
- 1926 E Adams St
- 2245 E Portland St
- 625 N 30th St
- 2144 E Roosevelt St
- 2525 E Monroe St Unit 2
- 2531 E Monroe St
- 2523 E Monroe St
- 2519 E Monroe St
- 2515 E Monroe St
- 2515 E Monroe St
- 2526 E Adams St
- 2532 E Adams St
- 2522 E Adams St
- 2518 E Adams St
- 2514 E Adams St
- 115 N 25th St
- 2506 E Adams St
- 2542 E Monroe St
- 111 N 25th St
- 117 N 25th St
- 2504 E Adams St
- 2504 E Adams St
- 2511 E Van Buren St
- 2511 E Van Buren St