Ground-Level Residential Income
For Sale
$225,000
14645 N Fountain Hills Blvd #121, Fountain Hills, AZ 85268
Ground-level residence with updated HVAC, private covered patio, and dedicated parking immediately outside the unit.
Property Size715 SF
Price / SF$314.69
Days on Market36
Property Features for 14645 N Fountain Hills Blvd #121
General Information
Standard status
Active
Size
715 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
fireplace
in-unit washer and dryer
private covered patio
storage room
step-free access
Building Details
Year Built
1988
Listing Agency:
Exp Realty
(602) 460-5545
Listed By:
arrt of Real Estate / Amelia Goudeau
(602) 460-5545
Source:
Arrtofrealestate
Added: Jul 25
Changed: Aug 28
Last Checked: Aug 26 at 12:30PM
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 Exp Realty
Investment Insights
Based on property information with market context.
This 715-square-foot ground-level residence was built in 1988 and offers a practical single-level layout. Interior features include a living room with fireplace, an eat-in kitchen with wood cabinetry and substantial counter space, one bedroom, a full bathroom, and an in-unit washer and dryer. The home also includes neutral interior paint and carpet installed in 2026.
Outdoor space includes a covered private patio and attached storage room. Step-free access supports convenient entry, while a dedicated parking space is located directly outside the residence. The HVAC system was updated in 2021. The property is located at 14645 N Fountain Hills Blvd #121 in Fountain Hills, Arizona.
Outdoor space includes a covered private patio and attached storage room. Step-free access supports convenient entry, while a dedicated parking space is located directly outside the residence. The HVAC system was updated in 2021. The property is located at 14645 N Fountain Hills Blvd #121 in Fountain Hills, Arizona.
Key Highlights
- 715‑square‑foot ground‑level residence built in 1988
- Carpet installed in 2026
- HVAC system updated in 2021
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
$8,069
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
3.59%
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%
$161,380
$161.4K
Cap Rate 7%
$115,271
$115.3K
Cap Rate 9%
$89,656
$89.7K
Market Conditions
NOI Build-Up for 715 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
$15.4K $21.60/SF
− Vacancy
−$772 −$1.08/SF
EGI
$14.7K $20.52/SF
− OpEx
−$6.6K −$9.23/SF
NOI
$8.1K $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%
$161,380
Cap Rate 7%
$115,271
Cap Rate 9%
$89,656
Alternative Uses
Best Use
Apartment 5plus
$115.3K
$100.9K – $134.5K
NOI $8,069 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$221.2K
$193.5K – $258.0K
NOI $15,482 @ 7.0% cap · market cap 6.88%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level residence with updated HVAC, private covered patio, and dedicated parking immediately outside the unit.
Where is this residential income property located?
The property is located at 14645 N Fountain Hills Blvd #121 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 715‑square‑foot ground‑level residence built in 1988; Carpet installed in 2026; HVAC system updated in 2021
