H
Seller's Agent in 2020
Historical Agent - SVV
Historical Listings - SVV
Estimated Value: $572,709
Studio
--
Bath
2,216
Sq Ft
$258/Sq Ft
Est. Value
Highlights
- Central Air
- Concrete Flooring
- Heating System Uses Natural Gas
- Cottonwood Elementary School Rated 10
About This Home
As of March 2020The property is located as you enter Old Town Cottonwood. Hog Wild BBQ Restaurant and Lisa Cook Salon are the tenants. Hog Wild occupies 1696 sq. ft. and is in the 3rd year of a 5 year lease renewal that commenced 10/31/16, with 3% annual rent increases plus another 5 year renewal option. Lisa Cook Salon occupies 520 sq. ft. and is in the first year of a three year lease renewal that commenced 9/30/18, with no annual rent increases or renewal options. The property has an attractive rock exterior and mature trees. With 0.82 acres, there should be room to build another rental building as long as sufficient parking is provided for all tenants. Cap rate approximately 6.02% at asking price. See Supplement. 2018 Estimated Income and Expenses (Modified Gross Leases)
Scheduled Gross Income: $37,182
Approximate Expenses:
Real Estate Taxes: 5,939
Rent Tax (3.5%) 1,301
Management (7%) 2,603
Repairs and Maintenance (5%) 1,859
Insurance 1,700
Total Expenses (33.9%) $13,402
Net Operating Income $23,780
Estimated cap rate at asking price: 6.02%
Note: With 0.82 acres of land, there should be room to build an additional rental building on the property.
Last Agent to Sell the Property
Historical Agent - SVV
Historical Listings - SVV Listed on: 04/13/2018
Property Details
Property Type
- Other
Est. Annual Taxes
- $5,939
Year Built
- Built in 1996
Lot Details
- Property is zoned CR
Home Design
- Composition Roof
- Block Exterior
- Stucco
Interior Spaces
- 2,216 Sq Ft Home
- Concrete Flooring
Utilities
- Central Air
- Heating System Uses Natural Gas
- 220 Volts
Community Details
- Building Dimensions are 190 x 175 x 190 x 140
- Hopkins Rch 1 3 Subdivision
Listing and Financial Details
- Tax Lot 24-26
- Assessor Parcel Number 40638107
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 13, 2018
Closed on
Jan 27, 2020
Sold by
Spiritwind Properties Llc
Bought by
Lori Propeties Ii Llc
Seller's Agent
Historical Agent - SVV
Historical Listings - SVV
Buyer's Agent
Wayne Latham
Mingus Mountain Real Estate
List Price
$450,000
Sold Price
$380,000
Premium/Discount to List
-$70,000
-15.56%
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
$192,709
Avg. Annual Appreciation
7.38%
Purchase Details
Closed on
Jul 11, 2006
Sold by
Heyer Sharon Lee and Johnson Carol Lynn
Bought by
Spiritwind Properties Llc
Purchase Details
Closed on
Jan 30, 2006
Sold by
Ferreira Steven
Bought by
Heyer Sharon Lee and Johnson Carol Lynn
Purchase Details
Closed on
Jan 10, 2005
Sold by
Swanzey Landing Llc
Bought by
Investments Unlimited
Purchase Details
Closed on
Jan 10, 1996
Sold by
Ferreira Steven and Ferreira Jeanne
Bought by
Swanzey Landing Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,000
Interest Rate
7%
Purchase Details
Closed on
Nov 21, 1994
Sold by
Larson Robert S and Larson Robert S
Bought by
Ferreira Steven and Ferreira Jeanne
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
9.23%
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Lori Propeties Ii Llc | $380,000 | Pioneer Title Agency | |
| Spiritwind Properties Llc | -- | None Available | |
| Heyer Sharon Lee | $475,000 | Transnation Title Ins Co | |
| Ferreira Steve | $275,000 | Transnation Title Ins Co | |
| Investments Unlimited | $275,000 | Chicago Title Ins Co | |
| Swanzey Landing Llc | -- | Transnation Title Ins Co | |
| Ferreira Steven | $55,000 | Yavapai Coconino Title Compa |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Swanzey Landing Llc | $252,000 | |
| Previous Owner | Ferreira Steven | $40,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/18/2020 03/18/20 | Sold | $380,000 | -15.6% | $171 / Sq Ft |
| 02/11/2020 02/11/20 | Pending | -- | -- | -- |
| 04/13/2018 04/13/18 | For Sale | $450,000 | -- | $203 / 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 |
|---|---|---|---|---|
| 2026 | $3,702 | -- | -- | -- |
| 2024 | $3,745 | -- | -- | -- |
| 2023 | $3,745 | $85,357 | $35,241 | $50,116 |
| 2022 | $5,555 | $94,923 | $53,679 | $41,244 |
| 2021 | $6,032 | $79,323 | $48,799 | $30,524 |
| 2020 | $5,987 | $0 | $0 | $0 |
| 2019 | $5,939 | $0 | $0 | $0 |
| 2018 | $5,735 | $0 | $0 | $0 |
| 2017 | $5,514 | $0 | $0 | $0 |
| 2016 | $5,599 | $0 | $0 | $0 |
| 2015 | -- | $0 | $0 | $0 |
| 2014 | $5,361 | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
-
Wayne Latham
W
Buyer's Agent in 2020
Wayne Latham
Mingus Mountain Real Estate
(928) 300-3437
3 in this area
7 Total Sales
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 516061
APN: 406-38-107
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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