Residential Income Condo with
For Sale
$294,900
13700 N FOUNTAIN HILLS Boulevard #212 Fountain, Fountain Hills, AZ 85268
Updated condominium in Four Peaks with private outdoor space, covered parking, and access to extensive community amenities.
Property Size1,108 SF
Price / SF$266.16
Days on Market199
Property Features for 13700 N FOUNTAIN HILLS Boulevard #212 Fountain
General Information
Standard status
Active
Size
1,108 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
outdoor pool
spa and hot tub
fitness center
steam room and sauna
theater room
business center
BBQ grill areas
in-unit laundry area
Ceiling Fan(s)
Central Air
Forced Air
Electric
Dryer
Washer
Refrigerator
Built-in Microwave
Dishwasher
Disposal
Electric Range
Electric Oven
Deck, SRP, Tile
Building Details
Building Size
1,108 SF
Year Built
1998
Stories
2
Listed By:
Richard Barker Keller Williams Arizona Realty · License #SA635052000
(602) 882-9404
Source:
Kw
Added: Feb 19
Changed: Sep 5
Last Checked: Sep 5 at 7:30PM
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 Richard Barker Keller Williams Arizona Realty
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath condominium in Four Peaks provides 1,108 square feet of refreshed living space with an open arrangement connecting the living, dining, and kitchen areas. Improvements include wood-style flooring, neutral finishes, recessed lighting, pendant fixtures, and a kitchen equipped with white cabinetry, stainless steel appliances, sleek countertops, and a peninsula with bar seating. The primary bedroom has a walk-in closet and en-suite bath with dual sinks. An in-unit laundry area, storage, ceiling fans, central air, and covered carport or attached garage parking add practical features. A private covered balcony overlooks landscaped grounds.
Four Peaks amenities include an outdoor pool, spa, hot tub, fitness center, steam room, sauna, theater room, business center, BBQ grill areas, and pet-friendly grounds. The property offers access to the 101 and 87 and is near downtown Fountain Hills dining, shopping, and entertainment. Built in 1998, the condominium includes a refrigerator, built-in microwave, dishwasher, disposal, electric range, and electric oven.
Four Peaks amenities include an outdoor pool, spa, hot tub, fitness center, steam room, sauna, theater room, business center, BBQ grill areas, and pet-friendly grounds. The property offers access to the 101 and 87 and is near downtown Fountain Hills dining, shopping, and entertainment. Built in 1998, the condominium includes a refrigerator, built-in microwave, dishwasher, disposal, electric range, and electric oven.
Key Highlights
- 1,108 SF condominium with 2 bedrooms and 2 full bathrooms
- Private covered balcony overlooking landscaped community grounds
- Updated kitchen with stainless steel appliances and peninsula bar seating
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
$12,505
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
4.24%
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%
$250,100
$250.1K
Cap Rate 7%
$178,643
$178.6K
Cap Rate 9%
$138,944
$138.9K
Market Conditions
NOI Build-Up for 1,108 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
$23.9K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$22.7K $20.52/SF
− OpEx
−$10.2K −$9.23/SF
NOI
$12.5K $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%
$250,100
Cap Rate 7%
$178,643
Cap Rate 9%
$138,944
Alternative Uses
Best Use
Apartment 5plus
$178.6K
$156.3K – $208.4K
NOI $12,505 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$342.7K
$299.9K – $399.9K
NOI $23,991 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Updated condominium in Four Peaks with private outdoor space, covered parking, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 13700 N FOUNTAIN HILLS Boulevard #212 Fountain Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: 1,108 SF condominium with 2 bedrooms and 2 full bathrooms; Private covered balcony overlooking landscaped community grounds; Updated kitchen with stainless steel appliances and peninsula bar seating
