Two-Bedroom
For Sale
$265,000
16108 E EMERALD Drive 206, Fountain Hills, AZ 85268
A second-floor home in a 12-unit community with a pool and an updated kitchen.
Property Size943 SF
Price / SF$281.02
Days on Market22
Property Features for 16108 E EMERALD Drive 206
General Information
Standard status
Active
Size
943 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$538
Amenities
pool
Building Details
Building Size
943 SF
Year Built
1986
Listing Agency:
1912 Realty
Listed By:
Lloyd Fox
(480) 516-0555
Source:
1912realty
Added: Oct 7
Changed: Oct 26
Last Checked: Oct 26 at 4:00PM
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 1912 Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 943-square-foot, second-floor condominium has two bedrooms and two bathrooms. The kitchen received granite countertops, updated lighting, and newer appliances in 2023. The air-conditioning compressor was replaced in 2021, and the complex has a newer roof. A pool serves the 12-unit community.
Mountain views are visible from the front landing, while the rear patio faces a wash. The property offers access to Shea Boulevard, Route 87, and amenities in Fountain Hills.
Mountain views are visible from the front landing, while the rear patio faces a wash. The property offers access to Shea Boulevard, Route 87, and amenities in Fountain Hills.
Key Highlights
- 943‑square‑foot, two‑bedroom, two‑bath condominium
- Second‑floor unit in a 12‑unit complex with a pool
- Kitchen updated in 2023 with granite countertops, new light fixtures, and newer appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,643
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,860
$212.9K
Cap Rate 7%
$152,043
$152.0K
Cap Rate 9%
$118,256
$118.3K
Market Conditions
NOI Build-Up for 943 SF
Gross rent
$20.4K $21.60/SF
− Vacancy
−$1.0K −$1.08/SF
EGI
$19.4K $20.52/SF
− OpEx
−$8.7K −$9.23/SF
NOI
$10.6K $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%
$212,860
Cap Rate 7%
$152,043
Cap Rate 9%
$118,256
Alternative Uses
Best Use
Apartment 5plus
$152.0K
$133.0K – $177.4K
NOI $10,643 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.7K
$255.2K – $340.3K
NOI $20,419 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
73
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 - A second-floor home in a 12-unit community with a pool and an updated kitchen.
Where is this residential income property located?
The property is located at 16108 E EMERALD Drive 206 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 943‑square‑foot, two‑bedroom, two‑bath condominium; Second‑floor unit in a 12‑unit complex with a pool; Kitchen updated in 2023 with granite countertops, new light fixtures, and newer appliances
