NOT LISTED FOR SALE

859 W Ray Rd Chandler, AZ 85225

Arrowhead Meadows Neighborhood

Estimated Value: $594,998 - $950,000

-- Bed
-- Bath
3,328 Sq Ft
$225/Sq Ft Est. Value

Last Sold March 28, 2014

Last sale price $165,000 $50 Per Sq Ft

Est. 354% increase in value since last sale

Current estimated payment $4,056/month

60 Days on Market

Highlights

  • Multiple cooling system units
  • Carpet
  • Heating Available
  • Andersen Junior High School Rated A-

About This Home

As of March 2014

Excellent investment opportunity...Turn key 4 plex that will provide a great return on investment. Traditional Sale...Not bank owned or short sale

Last Agent to Sell the Property

Tom Chase

TJ Chase Realty Group, Inc License #BR522563000 Listed on: 12/02/2013

Last Buyer's Agent

Michael Molina

Connect Realty.com Inc. License #SA567348000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,014

Year Built

  • Built in 1981

Lot Details

  • 7,536

Home Design

  • Built-Up Roof
  • Block Exterior

Flooring

  • Carpet
  • Vinyl

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Utilities

  • Multiple cooling system units
  • Heating Available
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 98
  • Assessor Parcel Number 302-49-219

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR

Building Details

  • Operating Expense $8,652
  • Gross Income $20,700
  • Net Operating Income $12,048

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,014

Year Built

Built in 1981

Lot Details

0

Listing Details

  • Cross Street: Alma School Rd & Ray Rd
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: MULTI
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1981
  • Tax Year: 2013
  • Road Surface Type: Asphalt
  • Professional Management Expense: 1863.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Vinyl
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Block
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: 1 Space/Unit
  • Attached Garage: No
  • 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

Utilities

  • Electric: APS, Individual Meter
  • Cooling: 2 or More Units, Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Trash Expense: 1902.0
  • Annual Water Sewer Expense: 840.0

Schools

  • Junior High Dist: Chandler Unified District

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 302-49-219

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 20700.0
  • Insurance Expense: 1041.0
  • Maintenance Expense: 720.0
  • Property Net Operating Income: 12048.0
  • Annual Operating Expense: 8651.64
  • Vacancy Allowance Rate: 0.08

Tax Info

  • Tax Annual Amount: 1013.64
  • Tax Book Number: 302.00
  • Tax Lot: 98

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 5, 2022
Sold by
Wang and Hongxia
Bought by
859 W Ray Llc
Current Estimated Value
$749,000

Purchase Details

Closed on
Dec 9, 2019
Sold by
Lu Hongxia
Bought by
Wang Shijun and Lu Hongxia

Purchase Details

Closed on
Apr 22, 2019
Sold by
Wang Shijun and Lu Hongxia
Bought by
Lu Hongxia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$281,250
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 16, 2019
Sold by
Rojas Juan Jose
Bought by
Lu Hongxia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$281,250
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Listed on
Dec 2, 2013
Closed on
Mar 26, 2014
Sold by
Rojas Maria and Rojas Juan Jose
Bought by
Rojas Juan Jose and Rojas Maria
Seller's Agent
Tom Chase
TJ Chase Realty Group, Inc
Buyer's Agent
Michael Molina
Connect Realty.com Inc.
List Price
$180,000
Sold Price
$165,000
Premium/Discount to List
-$15,000
-8.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.80%
Original Mortgage
$121,500
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Dec 2, 2013
Closed on
Mar 11, 2014
Sold by
Binjrajka Vinay and Binjrajka Vithika
Bought by
Rojas Juan Jose
Seller's Agent
Tom Chase
TJ Chase Realty Group, Inc
Buyer's Agent
Michael Molina
Connect Realty.com Inc.
List Price
$180,000
Sold Price
$165,000
Premium/Discount to List
-$15,000
-8.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$121,500
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 11, 2009
Sold by
U S Bank National Association
Bought by
Binjrajka Vinay and Binjrajka Vithika

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,500
Interest Rate
4.82%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 30, 2008
Sold by
Nichols John
Bought by
U S Bank National Association

Purchase Details

Closed on
Apr 21, 2005
Sold by
Reed Bryan
Bought by
Nichols John

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$178,750
Interest Rate
5.5%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Apr 20, 2005
Sold by
Nichols Kimberly
Bought by
Nichols John Stearns

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$178,750
Interest Rate
5.5%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jan 25, 2005
Sold by
Harding Shay and Reiley Laura
Bought by
Reed Bryan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$192,000
Interest Rate
8.15%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 4, 2002
Sold by
Juarez Lilia I
Bought by
Harding Shay and Reiley Laura

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$184,000
Interest Rate
5.89%

Purchase Details

Closed on
Dec 11, 2001
Sold by
Klebanoff David M and Klebanoff Betty L
Bought by
Juarez Lilia I

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,950
Interest Rate
6.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 24, 1998
Sold by
Klebanoff David M and Klebanoff Betty
Bought by
Klebanoff David and Klebanoff Betty

Purchase Details

Closed on
Aug 21, 1998
Sold by
Lum Phyllis
Bought by
Klebanoff David M and Klebanoff Betty
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
859 W Ray Llc -- Pax Solum Llc
Wang Shijun -- None Available
Lu Hongxia -- Prestige T&E Agcy Llc
Lu Hongxia $375,000 Prestige T&E Agcy Llc
Rojas Juan Jose -- Security Title Agency
Rojas Juan Jose $165,000 Security Title Agency
Binjrajka Vinay $122,000 Accommodation
U S Bank National Association $200,745 None Available
Nichols John $275,000 Fidelity National Title
Nichols John Stearns -- Fidelity National Title
Reed Bryan $240,000 Chicago Title Insurance Co
Harding Shay -- Capital Title Agency Inc
Juarez Lilia I $158,500 Capital Title Agency
Klebanoff David -- First American Title
Klebanoff David M $129,900 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lu Hongxia $281,250
Previous Owner Rojas Juan Jose $121,500
Previous Owner Rojas Juan Jose $121,500
Previous Owner Binjrajka Vinay $91,500
Previous Owner Nichols John Stearns $178,750
Previous Owner Nichols John $178,750
Previous Owner Nichols John Stearns $68,750
Previous Owner Reed Bryan $192,000
Previous Owner Harding Shay $184,000
Previous Owner Juarez Lilia I $110,950
Closed Harding Shay $46,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/28/2014 03/28/14 Sold $165,000 -8.3% $50 / Sq Ft
01/31/2014 01/31/14 Pending -- -- --
12/02/2013 12/02/13 For Sale $180,000 -- $54 / 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 $1,532 $16,387 -- --
2024 $1,479 $15,607 -- --
2023 $1,479 $52,730 $10,540 $42,190
2022 $1,432 $37,220 $7,440 $29,780
2021 $1,472 $34,510 $6,900 $27,610
2020 $1,464 $31,110 $6,220 $24,890
2019 $1,413 $20,980 $4,190 $16,790
2018 $1,372 $20,230 $4,040 $16,190
2017 $1,289 $17,210 $3,440 $13,770
2016 $1,245 $14,830 $2,960 $11,870
2015 $1,194 $14,500 $2,900 $11,600
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2014

    Tom Chase

    TJ Chase Realty Group

    Section Image

  • M

    Buyer's Agent in 2014

    Michael Molina

    Connect Realty.com Inc.

    (480) 694-7760

    10 Total Sales

    Michael Molina
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5037434

Arizona Regional Multiple Listing Service (ARMLS)

APN: 302-49-219

Arizona Maricopa County Chandler 85225 Arrowhead Meadows

859 W Ray Rd, Chandler, AZ

Not Listed for Sale

MultiFamily

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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