Remodeled Two-Bedroom Income
New
For Sale
$170,999
10820 N Fairway Court W #218, Sun City, AZ 85351
End-unit living includes golf course views, vaulted ceilings, and a private balcony.
Property Size1,230 SF
Price / SF$139.02
Days on Market3
Property Features for 10820 N Fairway Court W #218
General Information
Standard status
Active
Size
1,230 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$440
Building Details
Building Size
1,230 SF
Year Built
1963
Stories
2
Listing Agency:
RE/MAX Premier
(602) 320-2129
Listed By:
Deena Nickles · License #SA661386000
(602) 320-2129
Source:
Aznewhorizonrealty
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 2:32PM
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 RE/MAX Premier
Investment Insights
Based on property information with market context.
This 1,230-square-foot, two-bedroom, two-bath end-unit residential income property combines a spacious interior with updated finishes. The living room features vaulted ceilings and opens to a large balcony oriented toward golf course views. Both bedrooms include generously sized closets, while the primary bedroom offers space for a king bed and a sitting area. A private storage locker is located downstairs.
The kitchen renovation includes quartz countertops, cabinetry, a refrigerator, oven, dishwasher, microwave, sink, faucet, and disposal. Tile flooring extends through the kitchen and bathrooms, and the primary bath includes a built-in vanity and updated shower door. Interior and exterior painting was completed in 2025. Residents have access to Sun City recreation centers, with shopping and dining within walking distance.
The kitchen renovation includes quartz countertops, cabinetry, a refrigerator, oven, dishwasher, microwave, sink, faucet, and disposal. Tile flooring extends through the kitchen and bathrooms, and the primary bath includes a built-in vanity and updated shower door. Interior and exterior painting was completed in 2025. Residents have access to Sun City recreation centers, with shopping and dining within walking distance.
Key Highlights
- 1,230 SF two‑bedroom, two‑bath end unit
- Golf course views from the living area and large balcony
- Updated kitchen with quartz countertops and new 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
$13,882
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
8.12%
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%
$277,640
$277.6K
Cap Rate 7%
$198,314
$198.3K
Cap Rate 9%
$154,244
$154.2K
Market Conditions
NOI Build-Up for 1,230 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
$26.6K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$25.2K $20.52/SF
− OpEx
−$11.4K −$9.23/SF
NOI
$13.9K $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%
$277,640
Cap Rate 7%
$198,314
Cap Rate 9%
$154,244
Alternative Uses
Best Use
Apartment 5plus
$198.3K
$173.5K – $231.4K
NOI $13,882 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.5K
$332.9K – $443.9K
NOI $26,633 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
144
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - End-unit living includes golf course views, vaulted ceilings, and a private balcony.
Where is this residential income property located?
The property is located at 10820 N Fairway Court W #218 Sun City, AZ.
What is the asking price?
The asking price for this property is $170,999.
What are key features of this property?
This property features: 1,230 SF two‑bedroom, two‑bath end unit; Golf course views from the living area and large balcony; Updated kitchen with quartz countertops and new appliances
