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Multi-Family sold for $860,000 in 199 days
727 N Main St Cottonwood, AZ, 86326
Neighborhood: Hopkins Rch 1 - 3Off the market 10,902 sqft
This is one of Cottonwood's best income properties: 1) Mature trees; 2) Frontage on N. Main Street zoned CR, allowing possible business use entering historic Old Town Cottonwood. 3) Rent has upside; 4) Cottonwood may allow one additional rental unit on the property; 5) Almost no vacancy; 6) Mobiles are taxed as personal property and depreciated over 10 years compared with 27.5 years for apartments. 7) OWC with strong down payment; 8) Low rates from lender that lends on mobile home parks; 9) 8.32% cap rate; 10) Potential to add a coin laundry. The rentals consist of mobile homes on lots, not lots alone. There are 13 mobile homes, a block cottage and a two car garage. Mobiles range from 1960's to 1990's. Owner manages the park from home in Scottsdale. Property management is available. Greenbriar Mobile Home Park
727 N. Main Street, Cottonwood, Arizona 86326
Pro-forma for the year ending 12-31-20
Offered for sale at $910,000 (8.32% cap rate)
Annual Income (Actual):
123,516 Gross Scheduled Income (actual)
1,235 Vacancy (Est 1.0%)
122,281 Total Annual Gross Income
Annual Expenses (Pro-Forma):
2,749 Property Taxes
4,323 Rental Tax (See Note #1)
3,183 Insurance (See Note #2)
2,040 Trash Removal
12,352 Repairs & Upgrades (Est 10%; See Note #3)
12,000 Water/Sewer (Est; Owner pays; See Note #4)
9,881 Property Management (Est 8%; See Note #5)
46,528 Total Annual Expenses
75,753 Net Operating Income
910,000 PURCHASE PRICE (8.32% Cap Rate)
Notes:
(1) Upon purchase, buyer to set up new rental tax account. The 3.5% rental tax is shown above.
(2) If buyer gets a bank loan, bank may also require flood insurance. Owner paid $5,350 in 2019 for flood insurance.
(3) Owner paid about $2,000 in 2019 for Repairs/Upgrades. 10% of gross rents may be a more accurate annual figure.
(4) Water and Sewer normally run about $12,000 per year; 2019 ran $16,535 due to undetected leaks now repaired.
(5) Owner manages the park from home in Scottsdale; 8% has been estimated if buyer wants to have the property managed.
For additional information please contact:
Rick Rosenzweig, Broker
Sound Investments
877 Cove Parkway (PO Box 97)
Cottonwood, AZ 86326
928-274-0670 mobile
soundinvestments1@msn.com
Read more
Price per sqft
$78/sqft
Address
727 N Main St, Cottonwood, AZ, 86326
City of Arizona
Cottonwood
County
Yavapai
Year Built
1958
Neighborhood
Hopkins Rch 1 - 3
District
Cottonwood
No upcoming open houses
Baths
None
Floors
Carpet, Laminate, Sheet Vinyl, Wood
Amenities
Evaporative, Individual AC, Room Refrigeration, Fenced Backyard, Landscape, Patio/Deck, Sprinkler/Drip
Name
Rick Rosenzweig
License number
BR004344000
Brokerage company
Sound Investments
MLS #
522679
Name
Robin Non-member
Brokerage company
Non-Member Office
(928) 282-5409
(928) 282-5409
Mortgage
$2,641
Taxes
$0
HOA dues
$0
Mortgage
$172,000 / 20%
2.28%
30 years
Your amount
$2,641 / month
Construction
Brick, Frame - Wood, Metal
Pool
No
Parcel nr.
40638084
Essentials nearby
Neighborhood stats
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
—
no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in Hopkins Rch 1 - 3
24%
Families with children
National average: 39%
36%
Non family households
34,543
Population
$69,834
Average Income
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Housing market insights for
$376.62k
Neighborhood average
sales price*
sales price*
$382k
Neighborhood median
sales price*
sales price*
197
Number
of sales*
of sales*
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School rating | Distance | |
---|---|---|
Cottonwood Elementary School
301 North Willard St,
Cottonwood, AZ 86326
Elementary School |
0.315mi | |
Cottonwood Middle School
500 East Mingus Ave,
Cottonwood, AZ 86326
Middle School |
0.299mi | |
Arizona Izone Institute
1 North Willard St,
Cottonwood, AZ 86326
High School |
0.366mi |
School rating | Distance | |
---|---|---|
Cottonwood Elementary School
301 North Willard St,
Cottonwood, AZ 86326
|
0.315mi | |
Arizona Izone Institute
1 North Willard St,
Cottonwood, AZ 86326
|
0.366mi | |
Verde Valley Christian School
102 South Willard Street,
Cottonwood, AZ 86326
|
0.601mi | |
Verde Valley Seventh-Day Adventist School
Po Box 1810,
Cottonwood, AZ 86326
|
0.813mi | |
Verde Valley Montessori School - A Center For Crea
215 South Main St,
Cottonwood, AZ 86326
|
0.995mi |
School rating | Distance | |
---|---|---|
Cottonwood Middle School
500 East Mingus Ave,
Cottonwood, AZ 86326
|
0.299mi | |
Arizona Izone Institute
1 North Willard St,
Cottonwood, AZ 86326
|
0.366mi | |
Verde Valley Seventh-Day Adventist School
Po Box 1810,
Cottonwood, AZ 86326
|
0.813mi | |
Accelerated Learning Charter School
320 South Main Street,
Cottonwood, AZ 86326
|
1.05mi | |
out of 10 |
American Heritage Academy
2030 E. Cherry St.,
Cottonwood, AZ 86326
|
1.289mi |
School rating | Distance | |
---|---|---|
Arizona Izone Institute
1 North Willard St,
Cottonwood, AZ 86326
|
0.366mi | |
New Visions Academy
125 South 6th St,
Cottonwood, AZ 86326
|
0.509mi | |
out of 10 |
American Heritage Academy
2030 E. Cherry St.,
Cottonwood, AZ 86326
|
1.289mi |
Vacte - Valley Academy For Career And Technology E
830 South Main St,
Cottonwood, AZ 86326
|
1.626mi | |
Vacte - Clarkdale Jerome School District
830 South Main St,
Cottonwood, AZ 86326
|
1.632mi |
School ratings provided by Greatschools.org
© 2023. All rights reserved.
Hopkins Rch 1 - 3 Median sales price 2024
Bedrooms | Med. price | % of listings |
---|---|---|
3 beds | $545k | 100% |
Date | Event | Price | $/sqft | Source |
---|---|---|---|---|
Oct 5, 2020 | Sold | $860,000 | 78.88 | Public Record |
Oct 5, 2020 | Price Decrease | $860,000 -5.49% | 78.88 | MLS #522679 |
Sep 13, 2020 | Pending | $910,000 | 83.47 | MLS #522679 |
Sep 3, 2020 | Active - Contingent Remove | $910,000 | 83.47 | MLS #522679 |
Jul 28, 2020 | For sale | $910,000 | 83.47 | MLS #522679 |
Jun 6, 2020 | Pending - Take Backup | $910,000 | 83.47 | MLS #522679 |
Apr 25, 2020 | Price Decrease | $910,000 -5.84% | 83.47 | MLS #522679 |
Mar 21, 2020 | New Listing | $966,400 +40.06% | 88.64 | MLS #522679 |
Feb 21, 2017 | Sold | $690,000 | 63.29 | Public Record |
Feb 21, 2017 | Price Decrease | $690,000 -0.72% | 63.29 | MLS #508760 |
Jan 5, 2017 | Under contract | $695,000 | 63.75 | MLS #508760 |
Dec 7, 2015 | New Listing | $695,000 | 63.75 | MLS #508760 |
Dec 9, 2015 | Withdrawn | $695,000 | 63.75 | MLS #501242 |
Jul 2, 2013 | New Listing | $695,000 -10.55% | 63.75 | MLS #501242 |
Mar 20, 2007 | Sold | $777,000 | 77.7 | Public Record |
Mar 20, 2007 | Price Decrease | $777,000 -2.88% | 77.7 | MLS #111032 |
Mar 19, 2007 | Under contract | $800,000 | 80 | MLS #111032 |
Oct 18, 2006 | New Listing | $800,000 +33.56% | 80 | MLS #111032 |
Jan 31, 2001 | Expired | $599,000 | 0 | MLS #354809 |
Mar 24, 1999 | New Listing | $599,000 | 0 | MLS #354809 |
Stunning views
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This multi-family was build in 1958.
This property was sold in 2020.
727 N Main St, Cottonwood, AZ, 86326.
MLS Disclaimer: Copyright 2024 Sedona Verde Valley Association of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. Listing courtesy of Sound Investments.
Listing last updated on: Nov 11, 2020
Verhouse Last checked 2 minutes ago
The closest grocery stores are Food City, 1.39 miles away and Safeway, 1.46 miles away.
The Hopkins Rch 1-3 neighborhood has a population of 34,543, and 24% of the families have children. The median age is 53.62 years and 87% commute by car. The most popular housing type is "single detached" and 70% is owner.