Remodeled Residential Income
For Sale
$364,900
13700 N FOUNTAIN HILLS Boulevard Unit 328, Fountain Hills, AZ 85268
The condo includes an attached garage, in-home laundry room, and access to community recreation facilities.
Property Size1,412 SF
Days on Market9
Property Features for 13700 N FOUNTAIN HILLS Boulevard Unit 328
General Information
Standard status
Active
Size
1,412 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$918
Amenities
pool
spa
fitness center
Building Details
Building Size
1,412 SF
Year Built
1998
Listing Agency:
Keller Williams Arizona Realty
Listed By:
Richard F Barker · License #SA635052000
(602) 882-9404
Source:
Jcluxuryresidential
Added: Sep 24
Changed: Sep 29
Last Checked: Oct 1 at 4:03PM
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 remodeled condo in Four Peaks Vista has an open living area and a kitchen with granite countertops, a breakfast bar, and ample cabinetry. The residence contains three bedrooms and two bathrooms, along with a separate laundry room and an attached two-car garage with direct home access. The property was built in 1998.
Community amenities include a heated swimming pool, spa, and fitness center. The condo is in Fountain Hills, Arizona, with mountain views.
Community amenities include a heated swimming pool, spa, and fitness center. The condo is in Fountain Hills, Arizona, with mountain views.
Key Highlights
- Three‑bedroom, two‑bath condo
- Attached two‑car garage with direct access to the residence
- Kitchen with granite countertops 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
$15,936
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
4.37%
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%
$318,720
$318.7K
Cap Rate 7%
$227,657
$227.7K
Cap Rate 9%
$177,067
$177.1K
Market Conditions
NOI Build-Up for 1,412 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
$30.5K $21.60/SF
− Vacancy
−$1.5K −$1.08/SF
EGI
$29.0K $20.52/SF
− OpEx
−$13.0K −$9.23/SF
NOI
$15.9K $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%
$318,720
Cap Rate 7%
$227,657
Cap Rate 9%
$177,067
Alternative Uses
Best Use
Apartment 5plus
$227.7K
$199.2K – $265.6K
NOI $15,936 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.8K
$382.2K – $509.6K
NOI $30,574 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo includes an attached garage, in-home laundry room, and access to community recreation facilities.
Where is this residential income property located?
The property is located at 13700 N FOUNTAIN HILLS Boulevard Unit 328 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condo; Attached two‑car garage with direct access to the residence; Kitchen with granite countertops and breakfast bar
