Residential Income Property with Mountain
For Sale
$345,000
13700 N FOUNTAIN HILLS Boulevard #350 Fountain, Fountain Hills, AZ 85268
Renovated townhome with open living areas, contemporary finishes, private outdoor space, and access to shared recreational amenities.
Property Size1,228 SF
Price / SF$280.94
Days on Market353
Property Features for 13700 N FOUNTAIN HILLS Boulevard #350 Fountain
General Information
Standard status
Active
Size
1,228 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
pool
fitness center
walking trails
Ceiling Fan(s)
Central Air
Electric
Dryer
Washer
Refrigerator
Built-in Microwave
Dishwasher
Disposal
Deck, SRP, Tile
Building Details
Building Size
1,228 SF
Year Built
1998
Stories
2
Construction
modern
Listed By:
Richard Barker Keller Williams Arizona Realty · License #SA635052000
(602) 882-9404
Source:
Kw
Added: Sep 19, 2025
Changed: Sep 5
Last Checked: Sep 5 at 7:13PM
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 renovated townhome offers 1,228 square feet with two bedrooms, two bathrooms, an open-concept layout, and 9-foot ceilings. Natural light reaches the main living areas, while the kitchen includes stainless steel appliances and a breakfast bar. The primary suite has carpeting, closet space, and mountain views. Updated bathrooms feature modern vanities and tile finishes, and a private balcony extends the usable living space.
The property is in Fountain Hills with views toward the McDowell Mountains and Four Peaks. Residents have access to a pool, fitness center, walking trails, and landscaped outdoor areas. Additional features include central air, ceiling fans, a washer, dryer, refrigerator, built-in microwave, dishwasher, disposal, tile, SRP, and parking. The property was built in 1998.
The property is in Fountain Hills with views toward the McDowell Mountains and Four Peaks. Residents have access to a pool, fitness center, walking trails, and landscaped outdoor areas. Additional features include central air, ceiling fans, a washer, dryer, refrigerator, built-in microwave, dishwasher, disposal, tile, SRP, and parking. The property was built in 1998.
Key Highlights
- 1,228‑square‑foot townhome with 2 bedrooms and 2 bathrooms
- Open‑concept interior with 9' ceilings and contemporary finishes
- Kitchen includes stainless steel appliances and a 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
$13,859
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
4.02%
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%
$277,180
$277.2K
Cap Rate 7%
$197,986
$198.0K
Cap Rate 9%
$153,989
$154.0K
Market Conditions
NOI Build-Up for 1,228 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
$26.5K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$25.2K $20.52/SF
− OpEx
−$11.3K −$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%
$277,180
Cap Rate 7%
$197,986
Cap Rate 9%
$153,989
Alternative Uses
Best Use
Apartment 5plus
$198.0K
$173.2K – $231.0K
NOI $13,859 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.9K
$332.4K – $443.2K
NOI $26,590 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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 - Renovated townhome with open living areas, contemporary finishes, private outdoor space, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 13700 N FOUNTAIN HILLS Boulevard #350 Fountain Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,228‑square‑foot townhome with 2 bedrooms and 2 bathrooms; Open‑concept interior with 9' ceilings and contemporary finishes; Kitchen includes stainless steel appliances and a breakfast bar
