Duplex with Separate Utility
For Sale
$689,990
12247 N FOUNTAIN HILLS Boulevard, Fountain Hills, AZ 85268
Two residential units offer distinct floor plans, fenced outdoor areas, covered patios, and in-unit laundry.
Property Size2,325 SF
Lot Size0.27 Acres
Price / SF$296.77
Days on Market39
Property Features for 12247 N FOUNTAIN HILLS Boulevard
General Information
Standard status
Active
Size
2,325 SF
Lot size
0.27 Acres
Property subtype
Multiple Dwellings
Financials
Asking Price
$689,000
Cap Rate
5.6%
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
fenced yards
covered patios
in-unit laundry
dishwashers
ample storage
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Opulent Real Estate Group
(602) 584-5130
Listed By:
Ryan Christensen
(602) 584-5130
Source:
Kelliesellsaz
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 30 at 5:31PM
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 Opulent Real Estate Group
Investment Insights
Based on property information with market context.
Located at 12247 N Fountain Hills Boulevard, this duplex contains 2,325 SF on a 0.27-acre lot. The property combines a 2-bedroom, 2-bath unit of approximately 1,425 SF with a 1-bedroom, 1-bath unit measuring approximately 900 SF. Each residence includes in-unit laundry, a dishwasher, storage, a covered patio, and a newer fenced yard.
Utilities are separately metered for each unit, including water, and tenants are responsible for all utilities. The property is reported at an estimated cap rate of approximately 5.6%.
Utilities are separately metered for each unit, including water, and tenants are responsible for all utilities. The property is reported at an estimated cap rate of approximately 5.6%.
Key Highlights
- 2,325 SF duplex on a 0.27‑acre lot
- Unit A: 2 bed / 2 bath and approximately 1,425 SF
- Unit B: 1 bed / 1 bath and approximately 900 SF
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
$28,327
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
4.11%
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%
$566,540
$566.5K
Cap Rate 7%
$404,671
$404.7K
Cap Rate 9%
$314,744
$314.7K
Market Conditions
NOI Build-Up for 2,325 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
$42.7K $18.36/SF
− Vacancy
−$2.2K −$0.95/SF
EGI
$40.5K $17.41/SF
− OpEx
−$12.1K −$5.22/SF
NOI
$28.3K $12.18/SF
Area
Maricopa County, AZ
Vacancy
5.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
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%
$566,540
Cap Rate 7%
$404,671
Cap Rate 9%
$314,744
Alternative Uses
Best Use
Multifamily LT 5
$404.7K
$354.1K – $472.1K
NOI $28,327 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$374.9K
$328.0K – $437.3K
NOI $26,240 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$719.2K
$629.3K – $839.1K
NOI $50,343 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
122
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer distinct floor plans, fenced outdoor areas, covered patios, and in-unit laundry.
Where is this duplex located?
The property is located at 12247 N FOUNTAIN HILLS Boulevard Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $689,990.
What are key features of this property?
This property features: 2,325 SF duplex on a 0.27‑acre lot; Unit A: 2 bed / 2 bath and approximately 1,425 SF; Unit B: 1 bed / 1 bath and approximately 900 SF
