Lakefront Residential Income
New
For Sale
$724,900
13013 N Panorama Drive #212, Fountain Hills, AZ 85268
Three-bedroom condo with a two-car garage, deck, and direct views across Fountain Park.
Property Size1,896 SF
Price / SF$382.33
Days on Market4
Property Features for 13013 N Panorama Drive #212
General Information
Standard status
Active
Size
1,896 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$2,408
Building Details
Building Size
1,896 SF
Year Built
1995
Stories
2
Listing Agency:
Kern Realty, Real Estate and Rentals
(480) 250-2496
Listed By:
Meredith Spring
(480) 250-2496
Source:
Aznewhorizonrealty
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 20 at 1:56PM
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 Kern Realty, Real Estate and Rentals
Investment Insights
Based on property information with market context.
Built in 1995, this FountainHead condominium offers 1,896 square feet with three bedrooms, two bathrooms, and a two-car garage. The residence includes a spacious deck oriented toward the lake, with views extending across Fountain Park and toward the McDowell Mountains. Interior finishes are ready for personalization.
FountainHead is a gated community at 13013 N Panorama Drive in Fountain Hills. The property sits along the shore of Fountain Park and connects to the Town Center area via a lakeside path. Additional outlooks include city lights and the surrounding mountain landscape.
FountainHead is a gated community at 13013 N Panorama Drive in Fountain Hills. The property sits along the shore of Fountain Park and connects to the Town Center area via a lakeside path. Additional outlooks include city lights and the surrounding mountain landscape.
Key Highlights
- 1,896‑square‑foot condominium with 3 bedrooms and 2 bathrooms
- Lakefront setting along Fountain Park in Fountain Hills
- Spacious deck with unobstructed lake views
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
$21,398
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
2.95%
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%
$427,960
$428.0K
Cap Rate 7%
$305,686
$305.7K
Cap Rate 9%
$237,756
$237.8K
Market Conditions
NOI Build-Up for 1,896 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
$41.0K $21.60/SF
− Vacancy
−$2.0K −$1.08/SF
EGI
$38.9K $20.52/SF
− OpEx
−$17.5K −$9.23/SF
NOI
$21.4K $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%
$427,960
Cap Rate 7%
$305,686
Cap Rate 9%
$237,756
Alternative Uses
Best Use
Apartment 5plus
$305.7K
$267.5K – $356.6K
NOI $21,398 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.5K
$513.2K – $684.2K
NOI $41,054 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Explore this area
Business Placement
Demographics for 85268, AZ
24,031
Population
13,429
Households
1.8
Avg Household Size
61
Median Age
50%
College-Educated
97%
High-School Grad
20.5 sq mi
ZIP Area
1,172
Density / Sq Mi
$105,288
Median Household Income
$55,054
Median Earnings
$1,781
Median Rent
$576,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condo with a two-car garage, deck, and direct views across Fountain Park.
Where is this residential income property located?
The property is located at 13013 N Panorama Drive #212 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: 1,896‑square‑foot condominium with 3 bedrooms and 2 bathrooms; Lakefront setting along Fountain Park in Fountain Hills; Spacious deck with unobstructed lake views
