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

1920 E Bell Road #1124 # 1124 Phoenix, AZ 85022

4 Beds 4 Baths 2,124 sqft Built 2007

INVESTimate

$359,900

List Price

$1,540

$1,386 - $1,694

Rent Est.

$390,599  ( +8.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $169.44
  • 8 Days on Market
  • MLS # : 6119758
  • Updated Date : 08/19/2020 at 17:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,124 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dpr Realty Llc

Listing Agent's Description

*WOW* RARE 4 BEDROOM 3.5 BATH Condo, with over 2100 sq ft of space and a TWO car garage. Fabulous * Move in Ready * CORNER UNIT in the resort style GATED COMMUNITY of Parkside. Located in the Heart of North Phoenix minutes away from North Scottsdale. 3 Level design has a total of 4 bedrooms and 3 1/2 baths. Lower level has a Private bedroom with a separate bath perfect for a roommate or giving visiting relatives or friends their own space. Condo features NEW CARPET, PAINT, 2 NEW LENNOX AC UNITS (Replaced 2019), NEW QUARTZ COUNTERTOPS in bathrooms. Large and Spacious living room, Kitchen with Granite counter tops, balcony. Close to POOL, Clubhouse, Movie Theater, Playground, Volley Ball Court and Fitness Center. Minutes from Desert Ridge, the 51 & 101 Fwy and Scottsdale/Kierland area.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Parkside Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $84k271k

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

Neighborhood: Parkside Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8241567

* 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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,328
Property Tax -$227
Property Insurance -$69
HOA -$200
Property Management Fees -$99
CASH FLOW
-$382

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$359,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.53%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,6253$1,6504$1,6755$1,900
$1,900
RENT COMPS ANALYSIS
  • 1920 E Bell Road #1124 Phoenix, 1
    • 4 beds 4 baths ∙ 2,124 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,124 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.73
    •  
  • 17417 N 16th Place Phoenix, 2
    • 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1999
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.84
    •  
  • 1333 E Charleston Avenue Phoenix, 3
    • 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1995
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 17643 N 17th Street Phoenix, 4
    • 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 1997
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.85
    •  
  • 2239 E Edna Avenue Phoenix, 5
    • 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1996
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
PROPERTY LISTING DETAILS
Dean Terzic
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119758
Last Updated: 08/19/2020
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