NOT LISTED FOR SALE

Estimated Value: $903,523 - $1,031,000

5 Beds
-- Bath
2,717 Sq Ft
$355/Sq Ft Est. Value

Last Sold March 31, 2021

Last sale price $740,000 $272 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $5,233/month

88 Days on Market

Highlights

  • Cooling Available
  • Stone Flooring
  • Heat Pump System
  • Phoenix Coding Academy Rated A
  • Ceiling Fan

About This Home

As of March 2021

ABSOLUTELY STUNNING AND FEELS LIKE PALMS SPRINGS TYPE OF PROPERTY. This is the jewel of the Tri-City Area. The best of both worlds in one location. The Tri-City area is desirable as it sits between Scottsdale, Tempe, and Phoenix. It is also near the 143 Freeway and close enough to the Phoenix Sky Harbor Airport to work and play. ALL VERY modern touches. From the roof down to concrete floors-new dual pane windows and new cabinets. Granite countertops. All appliances plus W/D. Tenant to verify all facts and figures. All four units are are rented onthe sister proerty nextdoor-see document tab. See the Document Tab for the full DD. Close to schools, parks, public transportation, shopping, restaurants, highways, entertainment. The sister property is also for sale. The property has three vacants

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 09/18/2020

Last Buyer's Agent

Frank May

Re/Max Fine Properties License #SA530852000

Re/Max Fine Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,019

Year Built

  • Built in 1960

Lot Details

  • 5,924

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Stone
  • Concrete

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Free Parking
  • Paved Parking
  • On-Street Parking
  • Assigned Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter

Additional Features

  • Ceiling Fan
  • Additional Parcels

Listing and Financial Details

  • Tenant pays for gas, electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 6
  • Assessor Parcel Number 125-13-050-A

Community Details

Overview

  • 4 Units
  • Building Dimensions are Irr
  • Palomino Estates Subdivision

Building Details

  • Operating Expense $8,699
  • Gross Income $50,401
  • Net Operating Income $41,702

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,019

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: 48 Street and McDowell
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: MFAM
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1960
  • Tax Year: 2020
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 2880.0
  • Subdivision Name: PALOMINO ESTATES
  • Tax Parcel Letter: A
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Stone, Concrete
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Other (See Remarks), Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, Free, Assigned, >1 Space Per Unit, Street Parking
  • Attached Garage: No
  • 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:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Ceiling Fan(s), Heat Pump, Individual
  • Heating: Individual, Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Breakfast Bar2: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Fee Information

  • Annual Water Sewer Expense: 1800.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: Irr
  • Additional Parcels: Yes
  • Parcel #: 125-13-050-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Gas, Electricity, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 50401.2
  • Insurance Expense: 1600.0
  • Maintenance Expense: 200.0
  • Property Net Operating Income: 41702.2
  • Annual Operating Expense: 8699.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 1019.0
  • Tax Book Number: 125.00
  • Tax Lot: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 18, 2020
Closed on
Mar 26, 2021
Sold by
1448 & 1452 E Cinnabar Properties Llc
Bought by
Davidson Andrew and Davidson Rachel
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Frank May
Re/Max Fine Properties
List Price
$747,500
Sold Price
$740,000
Premium/Discount to List
-$7,500
-1%
Current Estimated Value
$965,381

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$225,381
Avg. Annual Appreciation
5.67%
Original Mortgage
$517,999
Outstanding Balance
$466,173
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$499,208

Purchase Details

Closed on
May 1, 2019
Sold by
Choice Estates Llc
Bought by
Kijobi Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 2, 2010
Sold by
Wang Michael
Bought by
Choice Estates Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$69,300
Interest Rate
4.28%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 5, 2010
Sold by
Strazzara Walter
Bought by
Wang Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$69,300
Interest Rate
4.28%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 17, 2006
Sold by
Defusco Rentals Llc
Bought by
Strazzara Walter and Howard Mike

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$50,950
Interest Rate
6.2%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Nov 1, 2004
Sold by
Defusco Mark T
Bought by
Defusco Rentals Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,375
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 8, 2004
Sold by
Coker Benny H
Bought by
Defusco Mark T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,375
Interest Rate
6.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 21, 1999
Sold by
Benavides David L
Bought by
Coker Benny H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$99,000
Interest Rate
8.09%
Mortgage Type
Trade

Purchase Details

Closed on
Mar 29, 1999
Sold by
Mcconnell Mickey M
Bought by
Benavides David L and Benavides Rosanne

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,500
Interest Rate
6.98%
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
Davidson Andrew $740,000 Empire West Title Agency Llc
Kijobi Llc $709,500 Empire West Title Agency Llc
Choice Estates Llc -- None Available
Wang Michael $70,050 Magnus Title Agency
Strazzara Walter $255,000 Lawyers Title Insurance Corp
Defusco Rentals Llc -- --
Defusco Mark T $220,500 Lawyers Title Insurance Corp
Coker Benny H $110,000 Fidelity Title
Benavides David L $85,000 Fidelity Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Davidson Andrew $517,999
Previous Owner Kijobi Llc $600,000
Previous Owner Wang Michael $69,300
Previous Owner Strazzara Walter $50,950
Previous Owner Defusco Mark T $165,375
Previous Owner Coker Benny H $99,000
Previous Owner Benavides David L $76,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/31/2021 03/31/21 Sold $740,000 -1.0% $272 / Sq Ft
12/15/2020 12/15/20 Pending -- -- --
12/14/2020 12/14/20 For Sale $747,500 0.0% $275 / Sq Ft
12/04/2020 12/04/20 Pending -- -- --
11/17/2020 11/17/20 Price Changed $747,500 -0.3% $275 / Sq Ft
10/02/2020 10/02/20 For Sale $750,000 0.0% $276 / Sq Ft
09/21/2020 09/21/20 Pending -- -- --
09/18/2020 09/18/20 For Sale $750,000 -- $276 / 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 $2,822 $22,110 -- --
2024 $2,630 $21,057 -- --
2023 $2,630 $49,360 $9,870 $39,490
2022 $2,536 $31,170 $6,230 $24,940
2021 $2,578 $26,750 $5,350 $21,400
2020 $1,019 $19,820 $3,960 $15,860
2019 $1,015 $17,900 $3,580 $14,320
2018 $956 $15,270 $3,050 $12,220
2017 $916 $14,110 $2,820 $11,290
2016 $896 $10,000 $2,000 $8,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6134846

Arizona Regional Multiple Listing Service (ARMLS)

APN: 125-13-050A