NOT LISTED FOR SALE

527 E Ray Rd Gilbert, AZ 85296

Southwest Gilbert Neighborhood

Estimated Value: $508,000 - $1,957,461

3 Beds
2.5 Baths
1,456 Sq Ft
$868/Sq Ft Est. Value

Last Sold September 28, 2023

Last sale price $2,200,000 $1,511 Per Sq Ft

Est. 34% decrease in value since last sale

Current estimated payment $8,259/month

42 Days on Market

Highlights

  • Horses Allowed On Property
  • 4.12 Acre Lot
  • No HOA
  • Ashland Elementary School Rated A
  • 1 Fireplace
  • Evaporated cooling system

About This Home

As of September 2023

AMAZING AND RARE INVESTMENT OPPORTUNITY in the HEART of GILBERT! Surrounded by city amenities and breathtaking mountain views, the land can be subdivided into 4, 1+ acre lots or left as is to build your dream estate and horse stables. With NO HOA, and residential zoning, the space is yours to develop as you desire. Located just minutes from downtown Gilbert and the San Tan Mall, Main Event, Top Golf -- PLUS all of the outdoor dining and shopping experiences the San Tan Village community offers!

Tenants are currently in place until March 2026.

Last Agent to Sell the Property

Lindsay Mozena-Krater

Realty ONE Group License #SA658766000 Listed on: 04/18/2023

Co-Listed By

Connor David

Realty ONE Group License #SA707054000

Last Buyer's Agent

Dominick Montano

HomeSmart License #SA686400000

HomeSmart

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,424

Year Built

  • Built in 1972

Lot Details

  • 4.12 Acre Lot
  • Desert faces the front and back of the property
  • Partially Fenced Property
  • Wire Fence
  • Front and Back Yard Sprinklers

Parking

  • 2 Car Garage
  • 2 Carport Spaces

Home Design

  • Fixer Upper
  • Composition Roof
  • Built-Up Roof
  • Block Exterior

Interior Spaces

  • 1,456 Sq Ft Home
  • 1-Story Property
  • 1 Fireplace
  • Laminate Countertops
  • Washer and Dryer Hookup

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2.5 Bathrooms

Schools

  • Ashland Elementary School
  • South Valley Jr. High Middle School
  • Mesquite High School

Horse Facilities and Amenities

  • Horses Allowed On Property

Utilities

  • Evaporated cooling system
  • Heating Available
  • Septic Tank

Community Details

  • No Home Owners Association
  • Association fees include no fees
  • Tierra Madre Subdivision

Listing and Financial Details

  • Tax Lot 21
  • Assessor Parcel Number 304-43-097-B

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,424

Year Built

Built in 1972

Lot Details

0

Parking

2

Listing Details

  • Cross Street: Lindsay & Ray Rd
  • Property Type: Residential
  • Ownership: Fee Simple
  • Association Fees Land Lease Fee: N
  • Basement: N
  • Parking Spaces Total Covered Spaces: 4.0
  • Separate Den Office Sep Den Office: N
  • Year Built: 1972
  • Tax Year: 2022
  • Property Sub Type: Single Family Residence
  • Horses: Yes
  • Lot Size Acres: 4.12
  • Co List Office Mls Id: reog02
  • Co List Office Phone: 480-321-8100
  • Subdivision Name: Tierra Madre
  • Architectural Style: Ranch
  • New Construction: No
  • Property Attached Yn: No
  • Tax Parcel Letter: B
  • General Property Description:PriceSqFt: 1510.99
  • Water Source City Water: Yes
  • Special Features: None

Interior Features

  • Basement YN: No
  • Spa Features: None
  • Total Bedrooms: 3
  • Fireplace Features: 1 Fireplace
  • Fireplace: Yes
  • Interior Amenities: 3/4 Bath Master Bdrm, Laminate Counters
  • Living Area: 1456.0
  • Stories: 1
  • Kitchen Features:Laminate Counters: Yes

Exterior Features

  • Fencing: Partial, Wire
  • Lot Features: Natural Desert Back, Natural Desert Front, Irrigation Front, Irrigation Back
  • Pool Features: None
  • Disclosures: Seller Discl Avail
  • Construction Type: Painted, Block
  • Property Condition: Fixer
  • Roof: Composition, Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Carport Spaces: 2.0
  • Garage Spaces: 2.0

Utilities

  • Cooling: Evaporative Cooling
  • Heating: Electric
  • Laundry Features: Wshr/Dry HookUp Only
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Water
  • Heating:Electric: Yes
  • Sewer Septic Tank: Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • Association Fees:HOA YN2: N
  • Association Fees:PAD Fee YN2: N
  • Association Fee Incl:No Fees: Yes

Fee Information

  • Association Fee Includes: No Fees

Schools

  • Elementary School: Ashland Elementary
  • High School: Mesquite High School
  • Middle Or Junior School: South Valley Jr. High

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 179613.0
  • Parcel #: 304-43-097-B

Building Info

  • Builder Name: Unknown

Tax Info

  • Tax Annual Amount: 2424.0
  • Tax Book Number: 304.00
  • Tax Lot: 21
  • Tax Map Number: 43.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 18, 2023
Closed on
Sep 28, 2023
Sold by
Irene Leitch Living Trust
Bought by
Sai Dhyan Mandir
Seller's Agent
Lindsay Mozena-Krater
Realty ONE Group
Buyer's Agent
Dominick Montano
HomeSmart
List Price
$2,750,000
Sold Price
$2,200,000
Premium/Discount to List
-$550,000
-20%
Views
98
Current Estimated Value
$1,450,200

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$749,800
Avg. Annual Appreciation
-21.83%
Original Mortgage
$1,320,000
Outstanding Balance
$1,293,896
Interest Rate
7.09%
Mortgage Type
New Conventional
Estimated Equity
-$30,031

Purchase Details

Closed on
Sep 25, 2003
Sold by
Leitch Irene
Bought by
Town Of Gilbert

Purchase Details

Closed on
Aug 29, 2003
Sold by
Olsen Rose M and Leitch Anna
Bought by
Leitch Irene and Irene Leitch Living Trust

Purchase Details

Closed on
Jan 3, 2003
Sold by
Jair Trust and Olsen Rose M
Bought by
The Irene Leitch Living Trust and Leitch Irene
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Sai Dhyan Mandir $2,200,000 Chicago Title Agency
Town Of Gilbert -- Fidelity National Title
Leitch Irene -- Fidelity National Title
The Irene Leitch Living Trust -- --
The Irene Leitch Living Trust -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sai Dhyan Mandir $1,320,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/28/2023 09/28/23 Sold $2,200,000 -20.0% $1,511 / Sq Ft
04/19/2023 04/19/23 For Sale $2,750,000 -- $1,889 / 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 $7,917 $28,352 -- --
2024 $2,492 $27,002 -- --
2023 $2,492 $58,360 $11,670 $46,690
2022 $2,424 $43,160 $8,630 $34,530
2021 $2,507 $35,730 $7,140 $28,590
2020 $2,470 $37,050 $7,410 $29,640
2019 $2,294 $29,030 $5,800 $23,230
2018 $2,231 $28,910 $5,780 $23,130
2017 $2,158 $27,150 $5,430 $21,720
2016 $2,213 $27,060 $5,410 $21,650
2015 $2,018 $24,930 $4,980 $19,950
Source: Public Records

Agents Affiliated with this Home

  • Lindsay Mozena-Krater

    Seller's Agent in 2023

    Lindsay Mozena-Krater

    Realty One Group

    (520) 213-2295

    1 in this area

    89 Total Sales

    Lindsay Mozena-Krater
    Section Image

  • C

    Seller Co-Listing Agent in 2023

    Connor David

    Realty One Group

    Section Image
  • Dominick Montano

    Buyer's Agent in 2023

    Dominick Montano

    HomeSmart

    (480) 861-0403

    1 in this area

    40 Total Sales

    Dominick Montano
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6545754

Arizona Regional Multiple Listing Service (ARMLS)

APN: 304-43-097B

Arizona Maricopa County Gilbert 85295 Southwest Gilbert

527 E Ray Rd, 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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