NOT LISTED FOR SALE

2540 E Milky Way Gilbert, AZ 85295

Gateway Ranch Neighborhood

Estimated Value: $655,000 - $741,000

5 Beds
3 Baths
3,037 Sq Ft
$227/Sq Ft Est. Value

Last Sold October 18, 2016

Last sale price $309,900 $102 Per Sq Ft

Est. 123% increase in value since last sale

Current estimated payment $3,844/month

87 Days on Market

Highlights

  • Vaulted Ceiling
  • Heated Community Pool
  • Dual Vanity Sinks in Primary Bathroom
  • Chaparral Elementary School Rated A-
  • Covered Patio or Porch
  • Community Playground

About This Home

As of October 2016

Welcome home to this awesome family home in the best part of Gilbert. This home offers a huge lot with established landscaping and built in play center. The home is masterfully designed with 5 bedrooms, (1 guest bedroom and bath on main floor) and 3 FULL baths, with Vaulted Ceilings & a Spacious LOFT. Look out and see picturesque backyard with grass and extended covered patio. Neutral ceramic floors throughout in all the right places.This home is IMMACULATE & ready to move into! Excellent location. Close to San Tan Mall, Hospital & 202.

Last Agent to Sell the Property

Paul Whittle

American Allstar Realty License #BR531220000 Listed on: 06/03/2016

Last Buyer's Agent

Kelly Farnsworth

AZ Key LLC License #BR517248000

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,406

Year Built

  • Built in 2000

Lot Details

  • 9,682 Sq Ft Lot
  • Block Wall Fence
  • Grass Covered Lot

HOA Fees

  • $53 Monthly HOA Fees

Parking

  • 3 Car Garage

Home Design

  • Tile Roof
  • Metal Construction or Metal Frame
  • Stucco

Interior Spaces

  • 3,037 Sq Ft Home
  • 2-Story Property
  • Vaulted Ceiling
  • Ceiling Fan
  • Kitchen Island

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Primary Bathroom is a Full Bathroom
  • 3 Bathrooms
  • Dual Vanity Sinks in Primary Bathroom
  • Bathtub With Separate Shower Stall

Outdoor Features

  • Covered Patio or Porch

Schools

  • Chaparral Elementary School
  • Cooley Middle School
  • Williams Field High School

Utilities

  • Refrigerated Cooling System
  • Heating System Uses Natural Gas
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 208
  • Assessor Parcel Number 304-40-221

Community Details

Overview

  • Association fees include ground maintenance
  • Gateway Ranch Association, Phone Number (602) 957-9191
  • Built by Beazer Homes
  • Gateway Ranch Subdivision

Recreation

  • Community Playground
  • Heated Community Pool
  • Community Spa

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,406

Year Built

Built in 2000

Lot Details

0

HOA Fees

$53 per month

Parking

3

Listing Details

  • Cross Street: Higley & Williamsfield
  • Legal Info Range: 6E
  • Property Type: Residential
  • Ownership: Fee Simple
  • HOA #2: N
  • Association Fees Land Lease Fee: N
  • Recreation Center Fee 2: N
  • Recreation Center Fee: N
  • Total Monthly Fee Equivalent: 53.33
  • Basement: N
  • Parking Spaces Slab Parking Spaces: 3.0
  • Parking Spaces Total Covered Spaces: 3.0
  • Separate Den Office Sep Den Office: N
  • Year Built: 2000
  • Tax Year: 2015
  • Property Sub Type: Single Family - Detached
  • Horses: No
  • Lot Size Acres: 0.22
  • Subdivision Name: GATEWAY RANCH
  • Architectural Style: Ranch
  • Property Attached Yn: No
  • ResoBuildingAreaSource: Assessor
  • General Property Description:PriceSqFt: 102.04
  • Association Fees:HOA Fee2: 160.0
  • Cooling:Ceiling Fan(s): Yes
  • Technology:Cable TV Avail: Yes
  • Technology:High Speed Internet Available: Yes
  • Special Features: VirtualTour

Interior Features

  • Flooring: Carpet, Tile
  • Basement YN: No
  • Spa Features: None
  • Total Bedrooms: 5
  • Fireplace Features: None
  • Fireplace: No
  • Interior Amenities: Upstairs, Vaulted Ceiling(s), Kitchen Island, Pantry, Double Vanity, Full Bth Master Bdrm, Separate Shwr & Tub, High Speed Internet
  • Living Area: 3037.0
  • Stories: 2
  • Fireplace:No Fireplace: Yes
  • Kitchen Features:RangeOven Elec: Yes
  • Kitchen Features:Kitchen Island: Yes
  • Master Bathroom:Double Sinks: Yes
  • Community Features:Community Pool Htd: Yes
  • Community Features:Community Spa Htd: Yes
  • Kitchen Features Pantry: Yes
  • Other Rooms:Great Room: Yes
  • Other Rooms:Family Room: Yes
  • Community Features:Children_squote_s Playgrnd: Yes
  • Other Rooms:Loft: Yes

Exterior Features

  • Fencing: Block
  • Exterior Features: Covered Patio(s), Patio
  • Lot Features: Grass Front, Grass Back
  • Pool Features: None
  • Pool Private: No
  • Disclosures: Agency Discl Req, Seller Discl Avail
  • Construction Type: Painted, Stucco, Frame - Metal
  • Roof: Tile
  • Construction:Frame - Metal: Yes
  • Exterior Features:Covered Patio(s): Yes
  • Exterior Features:Patio: Yes

Garage/Parking

  • Total Covered Spaces: 3.0
  • Garage Spaces: 3.0
  • Open Parking Spaces: 3.0

Utilities

  • Cooling: Refrigeration, Ceiling Fan(s)
  • Heating: Natural Gas
  • Water Source: City Water
  • Heating:Natural Gas: Yes

Condo/Co-op/Association

  • Community Features: Community Spa Htd, Community Pool Htd, Playground
  • Amenities: Management
  • Association Fee: 160.0
  • Association Fee Frequency: Quarterly
  • Association Name: Gateway Ranch
  • Phone: 602-957-9191
  • Association: Yes

Association/Amenities

  • Association Fees:HOA YN2: Y
  • Association Fees:HOA Paid Frequency: Quarterly
  • Association Fees:HOA Name4: Gateway Ranch
  • Association Fees:PAD Fee YN2: N
  • Association Fees:Cap ImprovementImpact Fee _percent_: $
  • Association Fee Incl:Common Area Maint3: Yes
  • Association Fees:Cap ImprovementImpact Fee 2 _percent_: $

Fee Information

  • Association Fee Includes: Maintenance Grounds

Schools

  • Elementary School: Chaparral Elementary School
  • High School: Williams Field High School
  • Middle Or Junior School: Cooley Middle School

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 9682.0
  • Parcel #: 304-40-221
  • ResoLotSizeUnits: SquareFeet

Building Info

  • Builder Name: Beazer Homes

Tax Info

  • Tax Annual Amount: 2406.0
  • Tax Book Number: 304.00
  • Tax Lot: 208
  • Tax Map Number: 40.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 3, 2016
Closed on
Sep 23, 2016
Sold by
Us Bank National Association
Bought by
Solomon Travis and Solomon Cori
Seller's Agent
Paul Whittle
American Allstar Realty
Buyer's Agent
Kelly Farnsworth
AZ Key LLC
List Price
$339,900
Sold Price
$309,900
Premium/Discount to List
-$30,000
-8.83%
Current Estimated Value
$689,840

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$379,940
Avg. Annual Appreciation
9.07%
Original Mortgage
$201,435
Outstanding Balance
$161,053
Interest Rate
3.46%
Mortgage Type
New Conventional
Estimated Equity
$528,787

Purchase Details

Closed on
Apr 6, 2016
Sold by
Banks Steven H and Banks Nancy L
Bought by
U S Bank National Association

Purchase Details

Closed on
Feb 20, 2004
Sold by
Banks Ryan R and Banks Michelle
Bought by
Banks Steven H and Banks Nancy L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$203,300
Interest Rate
4.37%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 9, 2001
Sold by
Beazer Homes Holdings Corp
Bought by
Beazer Homes Sales Arizona Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$202,700
Interest Rate
7.65%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 8, 2001
Sold by
Beazer Homes Sales Arizona Inc
Bought by
Banks Ryan R and Banks Michelle

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$202,700
Interest Rate
7.65%
Mortgage Type
New Conventional
Source: Public Records
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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
Solomon Travis $309,900 Stewart Title Arizona Agency
U S Bank National Association $319,719 None Available
Banks Steven H $258,000 Capital Title Agency Inc
Beazer Homes Sales Arizona Inc -- Lawyers Title Of Arizona Inc
Banks Ryan R $213,415 Lawyers Title Of Arizona Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Solomon Travis $201,435
Previous Owner Banks Steven H $203,300
Previous Owner Banks Ryan R $202,700
Closed Banks Steven H $38,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/18/2016 10/18/16 Sold $309,900 0.0% $102 / Sq Ft
08/29/2016 08/29/16 Pending -- -- --
08/17/2016 08/17/16 Price Changed $309,900 -3.1% $102 / Sq Ft
08/16/2016 08/16/16 Price Changed $319,900 -3.0% $105 / Sq Ft
07/15/2016 07/15/16 Price Changed $329,900 -2.9% $109 / Sq Ft
06/03/2016 06/03/16 For Sale $339,900 -- $112 / 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 $2,207 $31,476 -- --
2024 $2,554 $29,977 -- --
2023 $2,554 $49,710 $9,940 $39,770
2022 $2,443 $36,070 $7,210 $28,860
2021 $2,507 $35,020 $7,000 $28,020
2020 $2,552 $31,860 $6,370 $25,490
2019 $2,472 $28,720 $5,740 $22,980
2018 $2,382 $27,250 $5,450 $21,800
2017 $2,298 $25,880 $5,170 $20,710
2016 $2,680 $25,230 $5,040 $20,190
2015 $2,406 $24,500 $4,900 $19,600
Source: Public Records

Agents Affiliated with this Home

  • Paul Whittle

    Seller's Agent in 2016

    Paul Whittle

    American Allstar Realty

    (480) 751-5300

    86 Total Sales

    Paul Whittle
    Section Image
  • Kelly Farnsworth

    Buyer's Agent in 2016

    Kelly Farnsworth

    AZ Key LLC

    (602) 769-7509

    1 in this area

    58 Total Sales

    Kelly Farnsworth
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5452287

Arizona Regional Multiple Listing Service (ARMLS)

APN: 304-40-221

Arizona Maricopa County Gilbert 85295 Gateway Ranch

2540 E Milky Way, Gilbert, AZ

Not Listed for Sale

Detached

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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