NOT LISTED FOR SALE

416 E Illini St Phoenix, AZ 85040

South Mountain Neighborhood

Estimated Value: $298,000 - $363,000

4 Beds
4 Baths
568 Sq Ft
$582/Sq Ft Est. Value

Last Sold May 18, 2017

Last sale price $182,000 $320 Per Sq Ft

Est. 87% increase in value since last sale

Current estimated payment $1,921/month

15 Days on Market

Highlights

  • Evaporated cooling system
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of May 2017

Seller is motivated and willing to carry. This property has 5 small all two bedroom 1 bath homes. Huge lot 0.72 acres / 31,363 sqft. Tenants pay for water and electric. This property is on septic so costs are very low for the maintance on this building. Bring your offer's now this deal will not last. All fact's and information are approximate buyer verify MLS information. Over 11% cap on owner's expenses and self managed. Seller also willing to carry 35k down.

Last Agent to Sell the Property

Sophia Baron

Grace CRE License #BR648866000 Listed on: 04/07/2017

Co-Listed By

Baylee Estrada

Keller Williams Arizona Realty License #BR654361000

Last Buyer's Agent

Daniela Rubio

Better Homes & Gardens Real Estate SJ Fowler License #SA662518000

Better Homes & Gardens Real Estate SJ Fowler

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $634

Year Built

  • Built in 1945

Lot Details

  • 0.72

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces

Utilities

  • Evaporated cooling system
  • Heat Pump System
  • Septic Tank

Listing and Financial Details

  • Tenant pays for water
  • The owner pays for trash collection
  • Tax Lot 1
  • Assessor Parcel Number 113-12-034-A

Community Details

Overview

  • 2 Buildings
  • 5 Units
  • Building Dimensions are 350x95

Building Details

  • Operating Expense $6,818
  • Gross Income $29,857
  • Net Operating Income $23,038

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$634

Year Built

Built in 1945

Lot Details

0

Listing Details

  • Property Type: Multiple Dwellings
  • Zoning: Multi
  • Number Of Buildings: 2
  • Year Built: 1945
  • Tax Year: 2016
  • Road Surface Type: Gravel, Dirt
  • Co List Office Mls Id: sjfl01
  • Co List Office Phone: 480-649-3536
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:Refrigerator: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Open Parking Spaces: 5.0
  • Total Parking Spaces: 5.0
  • General Property Description:Uncvrd Parking Spcs: 5.0
  • General Property Description:Total Parking Spcs: 5.0
  • Parking:Street Parking: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Evaporative Cooling
  • Heating: Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Sewer Septic Tank: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Fee Information

  • Trash Expense: 900.0
  • Annual Water Sewer Expense: 350.0

Lot Info

  • Lot Size: 350x95
  • Additional Parcels: No
  • Parcel #: 113-12-034-A

Multi Family

  • Owner Pays: Trash Collection
  • Tenant Pays: Water
  • Number Of Units Total: 5
  • Annual Gross Income: 29856.6
  • Insurance Expense: 2500.0
  • Maintenance Expense: 1500.0
  • Property Net Operating Income: 23038.0
  • Annual Operating Expense: 6818.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 634.0
  • Tax Book Number: 113.00
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 7, 2017
Closed on
May 11, 2017
Sold by
Schnerch Calvin G and Schnerch Janis D
Bought by
Sunland Properties Group Llc
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Daniela Rubio
Better Homes & Gardens Real Estate SJ Fowler
List Price
$205,000
Sold Price
$182,000
Premium/Discount to List
-$23,000
-11.22%
Current Estimated Value
$340,660

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$158,660
Avg. Annual Appreciation
7.63%
Original Mortgage
$147,500
Outstanding Balance
$124,118
Interest Rate
4.1%
Mortgage Type
Seller Take Back
Estimated Equity
$210,064

Purchase Details

Closed on
Mar 11, 2015
Sold by
Schnerch Calvin G and Schnerch Janis D
Bought by
Schnerch Calvin G and Schnerch Janis D

Purchase Details

Closed on
Aug 9, 1999
Sold by
Erickson Leroy B and Erickson Pamala K
Bought by
Schnerch Calvin G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,000
Interest Rate
7.7%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 15, 1997
Sold by
Erickson Leroy B and Erickson Pamala K
Bought by
Erickson Leroy B and Erickson Pamala K
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Sunland Properties Group Llc $182,500 Chicago Title Agency Inc
Schnerch Calvin G -- None Available
Schnerch Calvin G $95,000 Capital Title Agency
Erickson Leroy B -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sunland Properties Group Llc $147,500
Previous Owner Schnerch Calvin G $85,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/18/2017 05/18/17 Sold $182,000 -11.2% $320 / Sq Ft
04/05/2017 04/05/17 For Sale $205,000 -- $361 / 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 $774 $5,268 -- --
2024 $752 $5,017 -- --
2023 $752 $21,370 $4,270 $17,100
2022 $737 $15,380 $3,070 $12,310
2021 $752 $15,560 $3,110 $12,450
2020 $743 $13,450 $2,690 $10,760
2019 $718 $11,710 $2,340 $9,370
2018 $699 $9,830 $1,960 $7,870
2017 $666 $8,060 $1,610 $6,450
2016 $634 $7,350 $1,470 $5,880
2015 $597 $5,280 $1,050 $4,230
Source: Public Records

Agents Affiliated with this Home

  • Sophia Baron

    Seller's Agent in 2017

    Sophia Baron

    Grace CRE

    (480) 375-0227

    1 in this area

    88 Total Sales

    Section Image

  • B

    Seller Co-Listing Agent in 2017

    Baylee Estrada

    Keller Williams Arizona Realty

    (480) 688-8444

    Section Image
  • Daniela Rubio

    Buyer's Agent in 2017

    Daniela Rubio

    Better Homes & Gardens Real Estate SJ Fowler

    (480) 334-7775

    2 in this area

    61 Total Sales

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5586708

Arizona Regional Multiple Listing Service (ARMLS)

APN: 113-12-034A

Arizona Maricopa County Phoenix 85040 South Mountain

416 E Illini St, Phoenix, AZ

This home is located at 416 E Illini St, Phoenix, AZ 85040 since 07 April 2017 and is currently estimated at $330,666, approximately $582 per square foot. This property was built in 1945. 416 E Illini St is a home located in Maricopa County with nearby schools including Cesar E Chavez Community 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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