Ground-Floor Short-Term
For Sale
$125,000
12123 W Bell Road #110, Surprise, AZ 85378
Partially updated unit with private balcony, tile flooring, and in-unit laundry.
Property Size576 SF
Price / SF$217.01
Days on Market48
Property Features for 12123 W Bell Road #110
General Information
Standard status
Active
Size
576 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$325
Building Details
Building Size
576 SF
Year Built
1987
Stories
1
Listing Agency:
My Home Group Real Estate
(623) 824-3942
Listed By:
Tina Ivanic-Lobato
(623) 824-3942
Source:
Aznewhorizonrealty
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 23 at 8:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of My Home Group Real Estate
Investment Insights
Based on property information with market context.
This 576 SF ground-floor apartment unit was built in 1987 and has received partial updates. Interior features include tile flooring throughout, a covered private balcony, and laundry facilities within the unit. The property is offered as-is.
Residents have access to a community pool, ponds with ducks, BBQ areas, and walking paths. An on-site restaurant adds another amenity within the community. Located at 12123 W Bell Rd #110 in Surprise, Arizona, the unit is positioned for short-term rental, conventional rental, or seasonal residential use as described for the property.
Residents have access to a community pool, ponds with ducks, BBQ areas, and walking paths. An on-site restaurant adds another amenity within the community. Located at 12123 W Bell Rd #110 in Surprise, Arizona, the unit is positioned for short-term rental, conventional rental, or seasonal residential use as described for the property.
Key Highlights
- 576 SF ground‑floor apartment unit
- Built in 1987 with partial updates
- All‑tile flooring and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,909
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$118,180
$118.2K
Cap Rate 7%
$84,414
$84.4K
Cap Rate 9%
$65,656
$65.7K
Market Conditions
NOI Build-Up for 576 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$11.4K $19.80/SF
− Vacancy
−$661 −$1.15/SF
EGI
$10.7K $18.65/SF
− OpEx
−$4.8K −$8.39/SF
NOI
$5.9K $10.26/SF
Area
Surprise, AZ
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$118,180
Cap Rate 7%
$84,414
Cap Rate 9%
$65,656
Alternative Uses
Best Use
Apartment 5plus
$84.4K
$73.9K – $98.5K
NOI $5,909 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$177.6K
$155.4K – $207.2K
NOI $12,434 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Explore this area
Business Placement
Demographics for 85378, AZ
9,368
Population
4,671
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
85%
High-School Grad
3.6 sq mi
ZIP Area
2,602
Density / Sq Mi
$62,881
Median Household Income
$39,942
Median Earnings
$1,369
Median Rent
$235,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Partially updated unit with private balcony, tile flooring, and in-unit laundry.
Where is this short term rental property located?
The property is located at 12123 W Bell Road #110 Surprise, AZ.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 576 SF ground‑floor apartment unit; Built in 1987 with partial updates; All‑tile flooring and in‑unit laundry
