Residential Income Property with Mountain
For Sale
$349,900
16107 E EMERALD Drive 204, Fountain Hills, AZ 85268
Well-maintained home with updated finishes, a wood-burning fireplace, covered patio, and access to a community pool and spa.
Property Size1,500 SF
Days on Market71
Property Features for 16107 E EMERALD Drive 204
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$939
Amenities
community pool
community spa
wood-burning fireplace
pre-wired security system
dedicated laundry room
Building Details
Building Size
1,500 SF
Year Built
1998
Listing Agency:
Coldwell Banker Realty
Listed By:
Leslie D Coates
(602) 549-0294
Source:
Jcluxuryresidential
Added: Aug 12
Changed: Oct 20
Last Checked: Oct 21 at 3:12AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Located at 16107 E Emerald Drive in Fountain Hills, this 1998 residential income property features an open interior with 12-foot ceilings and mountain views visible from the windows. The great room connects two living areas, including a wood-burning fireplace. Recent improvements and finishes include neutral paint, plantation shutters, updated lighting, granite kitchen counters, a mosaic backsplash, solid maple cabinetry, stainless steel appliances, and a walk-in pantry. A new refrigerator is also included.
The primary suite offers a walk-in closet, dual sinks, and a walk-in shower, while the split-bedroom arrangement provides separation from the guest space. Outdoor features include an east-facing covered patio overlooking the community pool and spa. The property also includes a dedicated laundry room with Maytag washer and dryer, additional storage, a covered carport, and pre-wiring for a security system.
The Fountain Hills setting places the property minutes from four golf courses, We-Ko-Pa Casino, the Fountain, the Botanical Garden, and the Dark Sky Discovery Center.
The primary suite offers a walk-in closet, dual sinks, and a walk-in shower, while the split-bedroom arrangement provides separation from the guest space. Outdoor features include an east-facing covered patio overlooking the community pool and spa. The property also includes a dedicated laundry room with Maytag washer and dryer, additional storage, a covered carport, and pre-wiring for a security system.
The Fountain Hills setting places the property minutes from four golf courses, We-Ko-Pa Casino, the Fountain, the Botanical Garden, and the Dark Sky Discovery Center.
Key Highlights
- Mountain views from the home, with an east‑facing covered patio overlooking the community pool and spa
- Open layout with 12‑foot ceilings, a great room, two living areas, and a wood‑burning fireplace
- Kitchen includes granite counters, mosaic backsplash, solid maple cabinetry, stainless appliances, and walk‑in pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,929
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,580
$338.6K
Cap Rate 7%
$241,843
$241.8K
Cap Rate 9%
$188,100
$188.1K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$32.4K $21.60/SF
− Vacancy
−$1.6K −$1.08/SF
EGI
$30.8K $20.52/SF
− OpEx
−$13.9K −$9.23/SF
NOI
$16.9K $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 Rate 5%
$338,580
Cap Rate 7%
$241,843
Cap Rate 9%
$188,100
Alternative Uses
Best Use
Apartment 5plus
$241.8K
$211.6K – $282.2K
NOI $16,929 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$464.0K
$406.0K – $541.3K
NOI $32,479 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
79
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
Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained home with updated finishes, a wood-burning fireplace, covered patio, and access to a community pool and spa.
Where is this residential income property located?
The property is located at 16107 E EMERALD Drive 204 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Mountain views from the home, with an east‑facing covered patio overlooking the community pool and spa; Open layout with 12‑foot ceilings, a great room, two living areas, and a wood‑burning fireplace; Kitchen includes granite counters, mosaic backsplash, solid maple cabinetry, stainless appliances, and walk‑in pantry
