Residential Income Property with Golf
For Sale
$279,000
10416 W PRAIRIE HILLS Circle, Sun City, AZ 85351
Two-bedroom residence with an updated kitchen, Arizona room, and permitted rentals.
Property Size1,683 SF
Price / SF$165.78
Days on Market319
Property Features for 10416 W PRAIRIE HILLS Circle
General Information
Standard status
Active
Size
1,683 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,433
Building Details
Year Built
1971
Listing Agency:
West USA Realty
(602) 321-4959
Listed By:
Jami L Tadda · License #SA545526000
(602) 321-4959
Source:
Exitrealty
Added: Oct 16, 2025
Changed: Aug 29
Last Checked: Aug 29 at 11:20PM
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 West USA Realty
Investment Insights
Based on property information with market context.
This 1,683-square-foot D35 model, built in 1971, is configured with two bedrooms and two bathrooms. Interior improvements include premium kitchen cabinetry, granite countertops, and stainless-steel appliances. An Arizona room extends the living area, while the primary suite and main living spaces overlook the 16th hole at Lakes East. The property has no solar equipment, and rentals are allowed.
The home is located near Sundial Recreation Center, shopping, and dining, with Arrowhead and the P83 Entertainment District a short drive away. Its golf-course outlook, established residential setting, and permitted rental use provide a combination of personal-use and income-property functionality.
The home is located near Sundial Recreation Center, shopping, and dining, with Arrowhead and the P83 Entertainment District a short drive away. Its golf-course outlook, established residential setting, and permitted rental use provide a combination of personal-use and income-property functionality.
Key Highlights
- 1,683 SF D35 model built in 1971
- Two bedrooms and two bathrooms
- Updated kitchen with premium cabinetry, granite counters, and stainless‑steel appliances
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
$18,994
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
6.81%
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%
$379,880
$379.9K
Cap Rate 7%
$271,343
$271.3K
Cap Rate 9%
$211,044
$211.0K
Market Conditions
NOI Build-Up for 1,683 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
$36.4K $21.60/SF
− Vacancy
−$1.8K −$1.08/SF
EGI
$34.5K $20.52/SF
− OpEx
−$15.5K −$9.23/SF
NOI
$19.0K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /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%
$379,880
Cap Rate 7%
$271,343
Cap Rate 9%
$211,044
Alternative Uses
Best Use
Apartment 5plus
$271.3K
$237.4K – $316.6K
NOI $18,994 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$520.6K
$455.5K – $607.4K
NOI $36,442 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 85351, AZ
29,795
Population
20,414
Households
1.5
Avg Household Size
73
Median Age
24%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
2,733
Density / Sq Mi
$50,812
Median Household Income
$29,786
Median Earnings
$1,477
Median Rent
$250,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with an updated kitchen, Arizona room, and permitted rentals.
Where is this residential income property located?
The property is located at 10416 W PRAIRIE HILLS Circle Sun City, AZ.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1,683 SF D35 model built in 1971; Two bedrooms and two bathrooms; Updated kitchen with premium cabinetry, granite counters, and stainless‑steel appliances
