Two-Bedroom Residential Income
For Sale
$349,900
13700 N FOUNTAIN HILLS Boulevard Unit 151, Fountain Hills, AZ 85268
Condominium residence with an open interior, covered balcony, in-unit laundry, and access to extensive Four Peaks amenities.
Property Size1,207 SF
Days on Market201
Property Features for 13700 N FOUNTAIN HILLS Boulevard Unit 151
General Information
Standard status
Active
Size
1,207 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,053
Amenities
pool
spa and hot tub
steam room
sauna
fitness center
theater room
business center
BBQ areas
in-unit washer and dryer
extra storage
covered balcony
Building Details
Building Size
1,207 SF
Year Built
1998
Listing Agency:
Keller Williams Arizona Realty
Listed By:
Richard F Barker · License #SA635052000
(602) 882-9404
Source:
Jcluxuryresidential
Added: Feb 18
Changed: Sep 7
Last Checked: Sep 7 at 8:21AM
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 Keller Williams Arizona Realty
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium in Four Peaks was built in 1998 and offers a practical open floor plan with wood-style flooring, neutral finishes, and abundant natural light. The kitchen includes white shaker cabinetry, dark countertops, stainless steel appliances, and a breakfast bar. A covered balcony extends the living area, while the primary bedroom includes an en-suite bath, carpeting, ceiling fan, and closet space. The unit also has a second bedroom, full guest bathroom, in-unit washer and dryer, and additional storage.
Community amenities include a resort-style pool, spa, hot tub, steam room, sauna, fitness center, theater room, business center, and BBQ areas. The Four Peaks community is pet-friendly and offers flexible lease terms. The property is in Fountain Hills, an International Dark Sky Community, with access to the 101 and 87 and proximity to downtown restaurants, shops, and entertainment.
Community amenities include a resort-style pool, spa, hot tub, steam room, sauna, fitness center, theater room, business center, and BBQ areas. The Four Peaks community is pet-friendly and offers flexible lease terms. The property is in Fountain Hills, an International Dark Sky Community, with access to the 101 and 87 and proximity to downtown restaurants, shops, and entertainment.
Key Highlights
- 2‑bedroom, 2‑bath condominium built in 1998
- Open layout with wood‑style flooring and abundant natural light
- Kitchen with white shaker cabinets, stainless steel appliances, and breakfast bar
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
$13,622
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
3.89%
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%
$272,440
$272.4K
Cap Rate 7%
$194,600
$194.6K
Cap Rate 9%
$151,356
$151.4K
Market Conditions
NOI Build-Up for 1,207 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
$26.1K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$24.8K $20.52/SF
− OpEx
−$11.1K −$9.23/SF
NOI
$13.6K $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%
$272,440
Cap Rate 7%
$194,600
Cap Rate 9%
$151,356
Alternative Uses
Best Use
Apartment 5plus
$194.6K
$170.3K – $227.0K
NOI $13,622 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.4K
$326.7K – $435.6K
NOI $26,135 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with an open interior, covered balcony, in-unit laundry, and access to extensive Four Peaks amenities.
Where is this residential income property located?
The property is located at 13700 N FOUNTAIN HILLS Boulevard Unit 151 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium built in 1998; Open layout with wood‑style flooring and abundant natural light; Kitchen with white shaker cabinets, stainless steel appliances, and breakfast bar
