205 W Bell Rd #35 · Phoenix, AZ 85023

$15,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 68 Days on market

Built 1974 ↓ 17% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

ON LEASED LAND: Dont miss out on this special deal on this 2 bedroom 2 bath home. Priced to sell quick. 2 spacious bedrooms, large front room and a formal dining or den area. Kitchen has all appliances including a breakfast bar. Washer and dryer included-inside. Primary bath has a walk in shower and large walk in closet. Outside you will find 2 storage sheds and a covered patio to enjoy. Ac only 4 years old, hot water heater 2 years old. Pex water lines. Located in Central park a 55 plus age restricted GOLF community. Community has lots of activities including pool, spa, billiards rec center.

Key facts

• Covered patio
• Pool
• Walk in closet

Tags

• BREAKFAST BAR
• WALK IN SHOWER
• WALK IN CLOSET
• COVERED PATIO
• STORAGE SHEDS
• POOL

Property features AI

Finance

• HOA & community: Land lease (monthly); Land lease fee $1,117 per month; Association covers grounds maintenance and street maintenance; Community amenities include pool, golf, heated spa, community media room, coin-operated laundry, biking/walking path, and fitness center

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces
• Utilities: City water; Public sewer
• Home design: Manufactured/mobile home; Leasehold ownership; Asphalt road access; Composition roof
• Construction: Aluminum siding; Wood frame construction
• Exterior features: Shed(s); Desert front yard; Gravel/stone in back yard; Private maintained road; Street maintenance included (community/association)

Interior

• Kitchen: Laminate countertops; Pantry; Refrigerator; Dishwasher; Disposal
• Bedrooms: 2 possible bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air; Ceiling fans
• Interior features: High-speed internet; Breakfast bar; Furnished (see remarks); No interior steps; Pantry; Full bathroom in primary bedroom; Accessible approach with ramp; Storage
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• Recommended offer: $14k (6.0% below list) — sets the bar for market timing.
• Cap rate 99.6% vs local median 3.3% in Phoenix — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#16 in AZ, #3,924 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, crime F.
• Glendale Union High School District (4285) (urban): math 23% / reading 31% proficiency, ranked #130 of 249 in AZ (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents falling (-3.4%/yr); 138 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($14k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $14,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 10.71% ✓
• Cap rate: 99.56%
• Cash-on-cash: 333.11%
• DSCR: 15.82
• GRM: 0.8

CMA / ARV

• ARV (on-the-fly): $56,160
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 W Bell Rd #293	0.00mi	2/2.0	1,200 (-4%)	1mo	$35,000	$29	93
16821 1st Ave N #53	0.10mi	3/2.0 (+1)	1,248 (0%)	8mo	$32,000	$26	84
16813 N 3rd Ave #235	0.11mi	2/2.0	1,232 (-1%)	15mo	$64,900	$53	80
16607 N 3rd Ave	0.19mi	2/2.0	1,344 (+8%)	3mo	$100,000	$74	76
16602 N 2nd Ln	0.20mi	2/2.0	1,344 (+8%)	6mo	$59,900	$45	73
16814 N 2nd Ln #245	0.10mi	2/2.0	1,344 (+8%)	23mo	$35,500	$26	64
16618 N 1st Dr #114	0.12mi	2/2.0	1,152 (-8%)	23mo	$45,000	$39	63
33 E Libby St	0.61mi	3/2.0 (+1)	1,233 (-1%)	10mo	$335,000	$272	56
17821 N 1st St	0.63mi	3/2.0 (+1)	1,169 (-6%)	16mo	$250,000	$214	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.99×
• Total profit: $67,140
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 33.38×
• Total profit: $135,978
• Equity at exit: $1,297

Cash invested: $4,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85023

• Rents YoY: -3.4%
• Active inventory: 138
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $1,166

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 22%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 W Bell Rd Unit 2 Phoenix, AZ	2.0	2.0	980	$1,649	$1.68	24d	1	0.15mi
110 W Bell Rd Unit 12 Phoenix, AZ	1.0	1.0	856	$1,399	$1.63	24d	1	0.15mi
110 W Bell Rd Unit 1 Phoenix, AZ	1.0	1.0	739	$1,299	$1.76	24d	1	0.15mi
11 E Bell Rd Phoenix, AZ	1.0–2.0	1.0–2.0	950	$1,705	$1.79	1d	11	0.15mi
16609 N 1st Ave Phoenix, AZ	2.0	1.0	910	$1,350	$1.48	1d	1	0.15mi
110 W Bell Rd Phoenix, AZ	1.0	1.0	845	$1,499	$1.77	8d	1	0.17mi
220 W Bell Rd Phoenix, AZ	1.0–3.0	1.0–2.0	1082	$1,564	$1.45	2d	32	0.18mi
10 E Bell Rd Phoenix, AZ	2.0	1.0–2.0	658	$1,419	$2.16	2d	33	0.24mi
110 E Greenway Pkwy Phoenix, AZ	1.0–2.0	1.0–2.0	866	$1,455	$1.68	1d	8	0.26mi
118 E Anderson Ave Phoenix, AZ	2.0	2.0	1272	$1,950	$1.53	24d	1	0.34mi
17420 N 2nd Ave Phoenix, AZ	3.0	2.0	1312	$2,000	$1.52	22d	1	0.40mi
229 E Anderson Ave Phoenix, AZ	2.0	2.0	1256	$2,100	$1.67	8d	1	0.43mi
314 E Hartford Ave Phoenix, AZ	2.0	2.0	1320	$2,195	$1.66	24d	1	0.47mi
16220 N 7th St Phoenix, AZ	1.0–2.0	1.0–2.0	885	$1,708	$1.93	1d	35	0.52mi
17031 N 11th Ave Phoenix, AZ	2.0	1.0–2.0	771	$1,437	$1.86	2d	25	0.60mi
17646 N 6th Ave Phoenix, AZ	3.0	2.0	1286	$2,200	$1.71	4d	1	0.66mi
17249 N 7th St Phoenix, AZ	1.0–3.0	1.0–2.0	956	$1,518	$1.59	2d	37	0.78mi
1118 W Helena Dr Phoenix, AZ	2.0	1.0	960	$2,200	$2.29	44d	1	0.82mi
17625 N 7th St Phoenix, AZ	1.0–3.0	1.0–2.0	925	$1,369	$1.48	3d	7	0.87mi
18217 N 2nd Pl Phoenix, AZ	2.0	1.0	833	$1,300	$1.56	17d	1	0.91mi
815 E Grovers Ave Phoenix, AZ	1.0–2.0	1.0–2.5	1469	$2,800	$1.91	5d	2	0.99mi
726 E Villa Rita Dr Phoenix, AZ	2.0	2.0	1088	$2,000	$1.84	11d	1	1.07mi
726 E Villa Rita Dr Phoenix, AZ	2.0	2.0	1088	$2,000	$1.84	18d	1	1.07mi
1100 E Bell Rd Phoenix, AZ	1.0–3.0	1.0–2.0	987	$1,822	$1.85	2d	26	1.07mi
17228 N 16th Dr #4 Phoenix, AZ	2.0	2.0	980	$1,500	$1.53	20d	1	1.09mi
17617 N 9th St Phoenix, AZ	1.0–3.0	1.0–2.0	956	$1,513	$1.58	2d	35	1.11mi
17017 N 12th St Phoenix, AZ	1.0–2.0	1.0	910	$2,500	$2.75	24d	2	1.13mi
1305 W Villa Maria Dr Phoenix, AZ	3.0	2.0	1401	$2,300	$1.64	18d	1	1.18mi
16875 N 12th St Unit 17 Phoenix, AZ	3.0	2.5	1323	$2,200	$1.66	24d	1	1.22mi
16601 N 12th St Phoenix, AZ	1.0–3.0	1.0–2.0	1242	$1,697	$1.37	2d	21	1.23mi
1130 E Grovers Ave Phoenix, AZ	2.0	2.0	934	$1,336	$1.43	2d	12	1.25mi
17239 N 19th Ave Phoenix, AZ	1.0–2.0	1.0–2.0	801	$1,221	$1.52	1d	32	1.26mi
17617 N 17th Ln Phoenix, AZ	3.0	2.0	1353	$2,100	$1.55	4d	1	1.27mi
1633 W Charleston Ave Phoenix, AZ	3.0	1.5	1441	$1,796	$1.25	8d	1	1.29mi
17425 N 19th Ave Phoenix, AZ	1.0–2.0	1.0–2.0	776	$1,327	$1.71	2d	40	1.30mi
1126 E Charleston Ave Phoenix, AZ	3.0	2.0	1214	$2,450	$2.02	4d	1	1.33mi
1032 E Villa Maria Dr Phoenix, AZ	2.0	2.0	1097	$1,850	$1.69	8d	1	1.34mi
1032 E Villa Maria Dr Phoenix, AZ	2.0	2.0	1097	$1,850	$1.69	20d	1	1.34mi
18437 N 8th Pl Phoenix, AZ	3.0	2.0	1355	$1,980	$1.46	5d	1	1.36mi
1136 E Villa Rita Dr Phoenix, AZ	2.0	2.0	1141	$1,950	$1.71	24d	1	1.36mi

Listing history 16 events

1. 2026-06-17
   status $15,000 Pending 68 DOM
2. 2026-06-17
   days on market $15,000 Under Contract Accepting Backups 68 DOM
3. 2026-06-16
   days on market $15,000 Under Contract Accepting Backups 67 DOM
4. 2026-06-15
   days on market $15,000 Under Contract Accepting Backups 66 DOM
5. 2026-06-13
   days on market $15,000 Under Contract Accepting Backups 64 DOM
6. 2026-06-09
   days on market $15,000 Under Contract Accepting Backups 60 DOM
7. 2026-06-08
   days on market $15,000 Under Contract Accepting Backups 59 DOM
8. 2026-06-07
   days on market $15,000 Under Contract Accepting Backups 58 DOM
9. 2026-06-04
   days on market $15,000 Under Contract Accepting Backups 55 DOM
10. 2026-06-03
    days on market $15,000 Under Contract Accepting Backups 54 DOM
11. 2026-06-02
    days on market $15,000 Under Contract Accepting Backups 53 DOM
12. 2026-06-01
    days on market $15,000 Under Contract Accepting Backups 52 DOM
13. 2026-05-31
    days on market $15,000 Under Contract Accepting Backups 51 DOM
14. 2026-05-20
    historical Under Contract Accepting Backups
15. 2026-04-19
    price $15,000
16. 2026-04-10
    listed $18,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 5 d/yr ≥110°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,284
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$436
• Taxable income: $14,622
• Est. tax owed @ 24.0%: −$3,509
• After-tax cash flow: $10,481/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Glendale Union High School District (4285)
• NCES district ID: 0403450
• Math proficiency: 23% ▼ -38.00%
• Reading proficiency: 31% ▼ -19.00%
• Median HH income: $40,846
• Composite: 22.81/100
• National rank: #8020
• State rank: #130 of 249 in AZ

Livability — Phoenix

• Score: 75/100
• State rank: #16
• US rank: #3924

Category grades

Amenities A+ Commute A+ Cost of living B- Crime F Employment B- Housing A+ Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, AZ
• County: Maricopa County · 4,537,380 people
• City population: 1,500,198
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 35,034
• Household income: $77,369
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 1539.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Hispanic / Latino 26% Two or more races 11% Black 7% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 3% Italian 3% Portuguese 2%
• Foreign-born: 17% · Canada, Jamaica, Vietnam
• Languages at home: 73% English-only · Spanish 18% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -348.79%
• Current HPI: 311.8587
• Rent YoY: ▼ -3.35%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

-16.7% since first listed

3 events — show timeline

• 2026-05-20 Contingent — ARMLS
• 2026-04-19 Price Changed $15,000 ARMLS
• 2026-04-10 Listed $18,000 ARMLS