Two-Bedroom Residential Income
For Sale
$397,000
14203 N Hawthorn Court 2, Fountain Hills, AZ 85268
Single-level living includes a covered patio and a fenced backyard.
Property Size1,420 SF
Days on Market11
Property Features for 14203 N Hawthorn Court 2
General Information
Standard status
Active
Size
1,420 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,423
Building Details
Building Size
1,420 SF
Year Built
1988
Listing Agency:
MCO Realty
Listed By:
Susan Dawson · License #SA035163000
(602) 550-1330
Source:
Jcluxuryresidential
Added: Sep 22
Changed: Sep 30
Last Checked: Oct 1 at 6:01PM
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 MCO Realty
Investment Insights
Based on property information with market context.
This single-level condominium, built in 1988, has two bedrooms, each with an adjoining bathroom and walk-in closet. The primary suite also connects to a separate room that can serve as an office, nursery, or workout space. A wood-burning fireplace anchors the living area, while Saltillo flooring extends throughout. The open kitchen features granite counters and ample cabinetry, and a new A/C system has been installed.
Outdoor features include a covered patio and fenced backyard. The primary bedroom also has an exterior roll-down window screen.
Outdoor features include a covered patio and fenced backyard. The primary bedroom also has an exterior roll-down window screen.
Key Highlights
- Two‑bedroom, single‑level condominium
- Built in 1988
- Newly installed A/C system
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
$16,026
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
4.04%
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%
$320,520
$320.5K
Cap Rate 7%
$228,943
$228.9K
Cap Rate 9%
$178,067
$178.1K
Market Conditions
NOI Build-Up for 1,420 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
$30.7K $21.60/SF
− Vacancy
−$1.5K −$1.08/SF
EGI
$29.1K $20.52/SF
− OpEx
−$13.1K −$9.23/SF
NOI
$16.0K $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%
$320,520
Cap Rate 7%
$228,943
Cap Rate 9%
$178,067
Alternative Uses
Best Use
Apartment 5plus
$228.9K
$200.3K – $267.1K
NOI $16,026 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$439.2K
$384.3K – $512.5K
NOI $30,747 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
837
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level living includes a covered patio and a fenced backyard.
Where is this residential income property located?
The property is located at 14203 N Hawthorn Court 2 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Two‑bedroom, single‑level condominium; Built in 1988; Newly installed A/C system
