For sale

Price cut: $10K (6/22)

$499,900

1845 E ILLINI Street, Phoenix, AZ 85040

5beds

3baths

2,600sqft

$3,011/mo

Get pre-qualified

Multi Family

Built in 2025

-- sqft lot

$-- Zestimate^®

$192/sqft

$-- HOA

What's special

Modern finishesAmple on-site parkingSamsung stainless appliancesWood-look tile

LIVE FOR LESS THAN HALF PRICE! Why rent when your tenant can help pay for your home? This outstanding 2025-built duplex offers the opportunity to live in one unit while approximately $2100/month rent from the other can offset more than half your housing payment. Well-maintained and in excellent condition, each unit features wood-look tile, Samsung stainless appliances, 42'' espresso cabinetry, 2'' wood blinds, and modern finishes. Reliable tenants pay their own electric. Ample on-site parking. Also an excellent investor opportunity with approximately $34,000 annual income and an attractive 7% CAP rate. FHA, VA, conventional, cash, or 1031 buyers welcome.

85 days
233
23

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 3

Heating

Electric

Cooling

Central Air, Ceiling Fan(s), Heat Pump, Individual

Appliances

Included: Built-In Range, Disposal, Dishwasher, Refrigerator, Built-In Electric Oven, Microwave
Laundry: W/D Hookup

Features

Flooring: Tile, Carpet

Interior area

Total structure area: 2,600
Total interior livable area: 2,600 sqft

Property

Parking

Total spaces: 4
Parking features: Attached Carport, Add'l Parking Avail, >1 Space Per Unit, Carport
Has carport: Yes
Covered spaces: 2
Uncovered spaces: 2

Lot

Size: 7,353 Square Feet
Dimensions: 7353 SF

Details

Parcel number: 12232090
Zoning: R3

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Wood Frame, Stucco
Roof: Composition

Condition

Year built: 2025

Utilities & green energy

Electric: SRP, Individual Meter
Sewer: Public Sewer
Water: City Franchise

Community & HOA

Community

Features: No Pool
Subdivision: PROGRESS PLACE

Location

Region: Phoenix

Financial & listing details

Price per square foot: $192/sqft
Tax assessed value: $78,777
Annual tax amount: $4,228
Date on market: 6/11/2026
Cumulative days on market: 85 days
Listing terms: Conventional,1031 Exchange
Ownership: Fee Simple
Electric utility on property: Yes
Road surface type: Asphalt

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
6/22/2026	Price change	$499,900-2%$192/sqft
Source: ARMLS #7040008 Report a problem
6/11/2026	Listed for sale	$509,900+827.1%$196/sqft
Source: ARMLS #7040008 Report a problem
12/30/2020	Sold	$55,000$21/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$286 +2.6%	$7,878 +5.2%
2024	$279 +2.9%	$7,491 +335%
2023	$271 +2%	$1,722 -57%
2022	$266 -0.8%	$4,000 +15.9%
2021	$268 +3.4%	$3,450 +29.2%
2020	$259 +2.8%	$2,670 +27.8%
2019	$252	$2,090 +6.6%
2018	$252 +4.9%	$1,960 +3.7%
2017	$240 +11.7%	$1,890 +7.4%
2016	$215 +8.3%	$1,760
2015	$199	$1,760 +58.6%
2014	--	$1,110 -6.4%
2013	--	$1,186 -5.5%
2012	--	$1,255 -40.5%
2011	--	$2,108 -43.6%
2010	--	$3,738 -19.4%
2009	--	$4,638 +0.1%
2008	--	$4,632 +60.8%
2007	--	$2,880 +53.8%
2006	--	$1,873
2005	--	$1,873 -2.4%
2004	--	$1,919
2003	--	$1,919 +187.7%
2002	--	$667