NOT LISTED FOR SALE

2945 E Chipman Rd Phoenix, AZ 85040

South Mountain Neighborhood

Estimated Value: $311,000 - $375,701

-- Bed
1 Bath
917 Sq Ft
$367/Sq Ft Est. Value

Last Sold March 01, 2018

Last sale price $188,000 $205 Per Sq Ft

Est. 79% increase in value since last sale

Current estimated payment $1,859/month

70 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of March 2018

*DO NOT DISTURB TENANTS* Investor special with great returns and very limited maintenance. Long term tenants have been in place and buyers have option to renew leases in escrow, tenants love their homes and want to stay! Both units are 3 Bedroom - 1 Bathroom -900 square feet with full kitchens and appliances included. Both units are identical to each other and are in high demand always. Home offers a 9% CAP in a market where people are buying for 6%.

Last Agent to Sell the Property

Tanner Lee

One Way Homes License #BR660785000 Listed on: 11/07/2017

Last Buyer's Agent

Tanner Lee

One Way Homes License #BR660785000 Listed on: 11/07/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $823

Year Built

  • Built in 2003

Lot Details

  • 7,492

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Schools

  • North High Middle School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for water, sewer
  • Tax Lot 54
  • Assessor Parcel Number 122-60-031

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Building Dimensions are IRR

Building Details

  • Operating Expense $2,323
  • Net Operating Income $17,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$823

Year Built

Built in 2003

Lot Details

0

Listing Details

  • Cross Street: 24th and Brodway
  • Property Type: Multiple Dwellings
  • Zoning: 0
  • Number Of Buildings: 2
  • Year Built: 2003
  • Tax Year: 2017
  • Directions: South on 24th, to Chipman, east on Chipman, Property on south side of the road.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 1500.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: See Remarks, Composition
  • 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:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Heat Pump
  • 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

Schools

  • Middle Or Junior School: North High School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 122-60-031

Multi Family

  • Owner Pays: None
  • Tenant Pays: Water, Sewer
  • Number Of Units Total: 2
  • Property Net Operating Income: 17100.0
  • Annual Operating Expense: 2323.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 823.0
  • Tax Book Number: 122.00
  • Tax Lot: 54

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 2, 2023
Sold by
Hoffman Kim J
Bought by
2945 Chipman Llc
Current Estimated Value
$336,925

Purchase Details

Closed on
Nov 16, 2022
Sold by
2945 Chipman Llc
Bought by
Hoffman Kim J and Bradley John

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$226,000
Interest Rate
7.08%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 26, 2022
Sold by
Jamal Bradley John
Bought by
2945 Chipman Llc

Purchase Details

Closed on
Jul 14, 2020
Sold by
Romero Sylvia and The Sylvia Romero Living Trust
Bought by
Bradley John Jamal and Hoffman Kim

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$161,250
Interest Rate
3.2%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 7, 2017
Closed on
Mar 9, 2018
Sold by
Romero Sylvia
Bought by
Romero Sylvia and The Sylvia Romero Living Trust
Seller's Agent
Tanner Lee
One Way Homes
Buyer's Agent
Tanner Lee
One Way Homes
List Price
$199,999
Sold Price
$188,000
Premium/Discount to List
-$11,999
-6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.01%
Original Mortgage
$153,000
Interest Rate
4.15%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 7, 2017
Closed on
Jan 17, 2018
Sold by
Vedeen Donald
Bought by
Romero Sylvia
Seller's Agent
Tanner Lee
One Way Homes
Buyer's Agent
Tanner Lee
One Way Homes
List Price
$199,999
Sold Price
$188,000
Premium/Discount to List
-$11,999
-6%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,000
Interest Rate
4.15%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 7, 2016
Sold by
Picacho Creek Llc
Bought by
Vedeen Donald

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
3.64%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 14, 2013
Sold by
Flip University Llc
Bought by
Picacho Creek Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$72,500
Interest Rate
4.55%
Mortgage Type
Unknown

Purchase Details

Closed on
Jun 11, 2013
Sold by
Witten Harold B and Witten Mary L
Bought by
Flip University Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$62,400
Interest Rate
3.38%
Mortgage Type
Unknown

Purchase Details

Closed on
Jul 15, 2004
Sold by
Laguna Homes Llc
Bought by
Witten Harold B and Witten Mary L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$143,200
Interest Rate
6.27%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 18, 2002
Sold by
Hernandez Guadalupe M
Bought by
Basar Edward G and Basar Christine A

Purchase Details

Closed on
Oct 14, 2002
Sold by
Basar Edward G and Basar Christine A
Bought by
Laguna Homes Llc
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
2945 Chipman Llc -- Professional Escrow Services
Hoffman Kim J -- Title365
2945 Chipman Llc -- Morris Hall Pllc
Bradley John Jamal $215,000 Millennium Title Agency Llc
Romero Sylvia -- Accommodation
Romero Sylvia $175,000 Driggs Title Agency Inc
Vedeen Donald $140,000 American Title Svc Agency Ll
Picacho Creek Llc $150,000 None Available
Flip University Llc $78,000 None Available
Witten Harold B $179,000 First Financial Title Agency
Basar Edward G -- --
Laguna Homes Llc $14,000 Land Title Agency Of Az Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hoffman Kim J $226,000
Previous Owner Bradley John Jamal $201,600
Previous Owner Bradley John Jamal $161,250
Previous Owner Romero Sylvia $153,000
Previous Owner Vedeen Donald $105,000
Previous Owner Vedeen Donald $35,000
Previous Owner Picacho Creek Llc $72,500
Previous Owner Flip University Llc $62,400
Previous Owner Flip University Llc $7,800
Previous Owner Witten Harold B $143,200
Previous Owner Laguna Homes Llc $96,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/01/2018 03/01/18 Sold $188,000 -2.5% $205 / Sq Ft
01/16/2018 01/16/18 Pending -- -- --
01/12/2018 01/12/18 Price Changed $192,900 -1.0% $210 / Sq Ft
12/26/2017 12/26/17 Price Changed $194,900 -2.5% $213 / Sq Ft
11/07/2017 11/07/17 For Sale $199,999 -- $218 / 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 $956 $6,510 -- --
2024 $929 $6,200 -- --
2023 $929 $23,730 $4,740 $18,990
2022 $910 $17,710 $3,540 $14,170
2021 $929 $15,280 $3,050 $12,230
2020 $917 $14,120 $2,820 $11,300
2019 $888 $12,010 $2,400 $9,610
2018 $864 $9,770 $1,950 $7,820
2017 $823 $7,900 $1,580 $6,320
2016 $783 $7,460 $1,490 $5,970
2015 $737 $5,950 $1,190 $4,760
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2018

    Tanner Lee

    One Way Homes

    (480) 930-4114

    1 in this area

    26 Total Sales

    Tanner Lee
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5684631

Arizona Regional Multiple Listing Service (ARMLS)

APN: 122-60-031

Arizona Maricopa County Phoenix 85040 South Mountain

2945 E Chipman Rd, Phoenix, AZ

This home is located at 2945 E Chipman Rd, Phoenix, AZ 85040 since 07 November 2017 and is currently estimated at $336,925, approximately $367 per square foot. This property was built in 2003. 2945 E Chipman Rd is a home located in Maricopa County with nearby schools including Percy L Julian School, South Mountain High School, and Phoenix Coding Academy.

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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