Seller's Agent in 2025
Justin Cook
RE/MAX
(602) 405-2665
2 in this area
185 Total Sales
481 N Colorado St Chandler, AZ 85225
North Chandler Neighborhood
--
Bed
--
Bath
1,008
Sq Ft
1951
Built
Highlights
- RV or Boat Parking
- Cooling Available
- Ceiling Fan
- Chandler High School Rated A-
- Ceramic Tile Flooring
- Heating System Uses Natural Gas
About This Home
As of May 2025Chandler DUPLEX! TWO detached homes on ONE lot! This is the best CASH COW in the entire Valley! Projected 9% CAP rate! The 3 bed 2 bath home in the front does need some work! The 2 bed 1 bath home in the back (accessible from street behind the home) is in good shape & ready to go! Both units have their own fenced yard, separate entrances (one from the street in the front, the other the road in the back). Literally two separate homes on one lot! Property is located in the #1 school district in the state, short walk to Chandler High & is just blocks from popular Downtown Chandler with lots of dining, entertainment & shops! Located just a few miles from both 101 & 202 freeway to provide easy access to Phoenix/Scottsdale/ASU etc. Pro forma rents are likely lower than what it could receive.
Last Agent to Sell the Property
RE/MAX Solutions License #BR520620000 Listed on: 05/02/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $871
Year Built
- Built in 1951
Home Design
- Composition Roof
- Block Exterior
Flooring
- Ceramic Tile
- Vinyl
Parking
- 4 Open Parking Spaces
- 4 Parking Spaces
- Over 1 Space Per Unit
- RV or Boat Parking
Schools
- Galveston Elementary School
- Willis Junior High School
- Chandler High School
Utilities
- Cooling Available
- Heating System Uses Natural Gas
- Heat Pump System
Additional Features
- Ceiling Fan
- Property fronts an alley
Listing and Financial Details
- The owner pays for gas, trash collection, water, sewer
- Tax Lot 3
- Assessor Parcel Number 302-64-106
Community Details
Overview
- 2 Buildings
- 2 Units
- Building Dimensions are 150 x 50
- Greater Chandler Add Blk 8 & 9 Subdivision
Building Details
- Operating Expense $3,641
- Gross Income $42,000
- Net Operating Income $38,359
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 2, 2025
Closed on
May 23, 2025
Sold by
James G Porter G and James Rhonda L
Bought by
Huynh Hana
Seller's Agent
Justin Cook
RE/MAX Solutions
Buyer's Agent
hana huynh
Better Homes & Gardens Real Estate SJ Fowler
List Price
$425,000
Sold Price
$396,000
Premium/Discount to List
-$29,000
-6.82%
Views
16
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
$3,457
Avg. Annual Appreciation
2.75%
Original Mortgage
$200,000
Outstanding Balance
$134,431
Interest Rate
6.62%
Mortgage Type
Construction
Estimated Equity
$265,026
Purchase Details
Closed on
Mar 25, 2021
Sold by
Porter James G and Porter Rhonda L
Bought by
James G Porter And Rhonda L Porter Living Tru and Porter
Purchase Details
Closed on
Mar 28, 2019
Sold by
James G Porter & Rhonda L Porter Liv Tr
Bought by
Porter James G and Porter Rhonda L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
4.3%
Mortgage Type
New Conventional
Purchase Details
Closed on
Mar 5, 2004
Sold by
Porter James G and Porter Rhonda L
Bought by
Porter James G and Porter Rhonda L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$84,000
Interest Rate
4.75%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Mar 11, 2002
Sold by
Porter James G and Porter Rhonda L
Bought by
Porter James G and Porter Rhonda L
Purchase Details
Closed on
Oct 7, 1996
Sold by
Zambonini Nita
Bought by
Porter James G and Porter Rhonda L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$48,000
Interest Rate
8.06%
Mortgage Type
Seller Take Back
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 | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $396,000 | Clear Title Agency Of Arizona | |
| Warranty Deed | -- | Accommodation | |
| Interfamily Deed Transfer | -- | Great American Ttl Agcy Inc | |
| Interfamily Deed Transfer | -- | Grand Canyon Title Agency In | |
| Interfamily Deed Transfer | -- | Grand Canyon Title Agency In | |
| Interfamily Deed Transfer | -- | -- | |
| Joint Tenancy Deed | $60,000 | Transnation Title Ins Co |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $200,000 | Construction | |
| Previous Owner | $120,000 | New Conventional | |
| Previous Owner | $84,000 | Purchase Money Mortgage | |
| Previous Owner | $48,000 | Seller Take Back |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/23/2025 05/23/25 | Sold | $396,000 | -6.8% | $393 / Sq Ft |
| 05/06/2025 05/06/25 | Pending | -- | -- | -- |
| 05/02/2025 05/02/25 | For Sale | $425,000 | -- | $422 / 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 | $871 | $9,462 | -- | -- |
| 2024 | $854 | $9,012 | -- | -- |
| 2023 | $854 | $29,360 | $5,870 | $23,490 |
| 2022 | $827 | $20,450 | $4,090 | $16,360 |
| 2021 | $850 | $18,780 | $3,750 | $15,030 |
| 2020 | $845 | $15,250 | $3,050 | $12,200 |
| 2019 | $816 | $12,580 | $2,510 | $10,070 |
| 2018 | $792 | $12,060 | $2,410 | $9,650 |
| 2017 | $745 | $10,710 | $2,140 | $8,570 |
| 2016 | $719 | $9,550 | $1,910 | $7,640 |
| 2015 | $689 | $7,580 | $1,510 | $6,070 |
Source: Public Records
Agents Affiliated with this Home
-
Justin Cook
-
Scott Cook
Seller Co-Listing Agent in 2025
Scott Cook
RE/MAX
(480) 993-9317
2 in this area
173 Total Sales
-
hana huynh
h
Buyer's Agent in 2025
hana huynh
Better Homes & Gardens Real Estate SJ Fowler
(480) 567-4348
1 in this area
3 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6860519
APN: 302-64-106
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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