Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1702 E Bell Road #171 Phoenix, AZ 85022

3 Beds 3 Baths 1,588 sqft Built 2005

$252,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $158.69
  • 2 Days on Market
  • MLS # : 6182006
  • Updated Date : 01/17/2021 at 01:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

MUST COME SEE, gated community in North Central Phoenix! Brand new wood look tile flooring downstairs and brand new custom paint throughout! Kitchen boasts brand new granite counter tops with a drop in sink, and brand new stainless steel appliances! Brand new custom epoxy flooring in the spacious 2-car garage! All bedrooms are upstairs together with the laundry room.. Master bedroom has walk-in closet and bathroom with double sinks. Other bathroom upstairs and powder room downstairs. Community has pool and HOA includes water/sewer/trash. This condo sits in a really nice gated community in a prime location, centrally located to everything, freeways, restaurants and shopping It's clean and move-in ready and won't last long. Bring your clients today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Villa Milano Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Villa Milano Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Echo Mountain Primary School Primary Regular 609 37 4
Vista Verde Middle School Middle Regular 637 31 4
North Canyon High School High Regular 1,957 86 4

Echo Mountain Primary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 37
4
GreatSchools Rating

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 637
  • # of teachers: 31
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$226,800$277,200$252,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$875
Property Tax -$159
Property Insurance -$58
HOA -$208
Property Management Fees -$99
CASH FLOW
$221

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$252,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,530

INVESTMENT

$72,530

Down Payment
$63,000
Rehab Estimate
$5,750
Closing Costs
$3,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$875

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,000
Loan Amount $189,000
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$32,865

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,616

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,5954$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1702 E Bell Road #171 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1920 E Bell Road #1037 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2006
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 17606 N 17th Place #1064 Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1998
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 17310 N 19th Terrace Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 1702 E Bell Road #130 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 2004
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Bill Calvoni
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182006
Last Updated: 01/17/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy