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Phoenix 85040 Sheraton Park
2247 E CHIPMAN Road
Photo of 2247 E CHIPMAN Road
Sold on Jul 13, 2021

33

Map

Photo of 2247 E CHIPMAN Road
Photo of 2247 E CHIPMAN Road
$300,000
● House - Off Market

2247 E CHIPMAN Road

Phoenix, AZ 85040
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,675 Ft²
$315,370
RealtyHop Estimate
12.63%
Since Aug 1, 2021
AZ-Phoenix
Primary Model

About This Property

Check this out! Great starter home to make your own or perfect investment opportunity! Situated on a large lot with an RV gate just minutes from South Mountain Preserve and Cesar Chavez Park! Convenient access to major freeways and in walking distance to the nearby elementary school. The carpets have been recently cleaned, the AC has been recently updated, tons of natural light throughout the home, and a large covered patio. So much potential! Stop by and see this great opportunity today!
Unit Size
1,675 Ft²
Days on Market
-
Land Size
0.19 acres
Price per sqft
$167
Property Type
House
Property Taxes
$71
HOA Dues
-
Year Built
1964

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 5 months ago (ARMLS #6252251)

Price History

Date / Event Date Event Price
Jul 13, 2021 Sold
Premium
Sold
Jun 17, 2021 Listed by My Home Group Real Estate $280,000
Listed by My Home Group Real Estate
Feb 13, 2015 Sold
Premium
Sold
Oct 29, 2014 Sold
Premium
Sold

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1964
  • Effective Year Built: 1964
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 6
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 4
  • Building Style: 0
  • Exterior Walls Type: 4
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Parking Space Count: 2
  • Patio Type: 38
  • Porch Type: 5
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,276
  • Total Building Area: 1,675
  • Gross Building Area: 1,675
  • Building Area: 1,675
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 10
  • Heating: 24
  • Heated Square Feet: 1,675
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: SHERATON PARK 1
  • Land Acres: 0000000190
  • Standard Land Use Code: 1001
  • County Land Use Code: 0131
  • State Land Use Code: 0131
  • Legal Description 1: SHERATON PARK 1 MCR 97/45

Neighborhood

  • School District Name: Phoenix Union High School District
  • Census Tract: 116000

Zoning

  • Zoning: R-6

Geography

  • Assessors Map Reference: 9745
  • Parcel: 122-07-054
  • Lot: 54
  • Meridian: SEC 27 TWN 1N RNG 3E
  • Municipality: PHOENIX
  • Latitude: 33.4024
  • Longitude: -112.032

    Address

  • Full Address: 2247 E Chipman Rd
  • Address - House Number: 2247
  • Street Direction: E
  • Address - Street Name: Chipman
  • Address - Suffix Type: Rd
  • State: AZ
  • City Name: Phoenix
  • Carrier Code: C092
  • 4-Digit Zip Code: 2625
  • Zip Code: 85040

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $77,122
  • Tax Rate Code Area: 661300

    Appraisal Valuation

  • Standard Deviation: 0.1486
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 82
  • Final Value: 343,879
  • High Value: 395,003
  • Low Value: 292,755

    Market Valuation

  • Market Total Value: $231,000
  • Market Land Value: $46,200
  • Market Improvement Value: $184,800

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $23,100
  • Assessed Land Value: $4,620
  • Assessed Improvements Value: $18,480

    Sales

  • Current Sale Contract Date: Jun 24, 2021
  • Current Sale Recording Date: Jul 13, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 20210761766
  • Previous Sale Recording Date: Feb 13, 2015
  • Previous Sale Contract Date: Feb 05, 2015
  • Previous Sale Amount: $80,000
  • Previous Sale Document Type: 15
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Mountain

Stats & Trends

Median Asking:

$399,900

Sale Price/ft²

$249

Below Asking

0.02%

Average Days on Market

75

Average Home Size

1858 ft²

Average Home Age

27.4 years

Currently For Sale

317 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 2547 E Illini Street, Phoenix, AZ, 85040

$2,495 /mo

  • 4 Beds
  • 2 Baths
  • 1,925 ft²
2547 E Illini Street, Phoenix, AZ, 85040 Listing by Dominic Arnold
Unit for rent at 2510 E Pueblo Avenue, Phoenix, AZ, 85040

$805 /mo

  • 2 Beds
  • 1 Bath
  • 2,484 ft²
2510 E Pueblo Avenue #3, Phoenix, AZ, 85040 Listing by Michele L Filener
Unit for rent at 2457 E Pueblo Avenue, Phoenix, AZ, 85040

$1,100 /mo

  • 2 Beds
  • 1 Bath
  • 775 ft²
2457 E Pueblo Avenue #APT1, Phoenix, AZ, 85040 Listing by Dennis L Strobehn

Rentals Near You

Click here to view more rentals in the neighborhood.
ARMLS

Listed by: George Laughton, My Home Group Real Estate
Last Updated: 5 months ago
Data Source: ARMLS, MLS# 6252251
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Brokerage email: [email protected]

Frequently Asked Questions

When was property at 2247 East Chipman Road built and last sold?
The property at 2247 East Chipman Road was built in 1964 and last sold on Jun 24, 2021 for $300,000.
How much is this home worth?
The estimated value of the home located at 2247 East Chipman Road is $290,876.
What are some comparable homes to 2247 East Chipman Road?
There are currently no comparable homes to 2247 East Chipman Road.
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