Ground-Floor Residential Income
For Sale
$399,500
16216 E ROSETTA Drive 29, Fountain Hills, AZ 85268
Updated two-bedroom, two-bath unit with patios, shared garage storage, and access to a heated pool and spa.
Property Size1,120 SF
Days on Market116
Property Features for 16216 E ROSETTA Drive 29
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$885
Amenities
heated pool/spa
Building Details
Building Size
1,120 SF
Year Built
1980
Listing Agency:
MCO Realty
Listed By:
Patricia A Kenney · License #BR106531000
(480) 216-4948
Source:
Jcluxuryresidential
Added: Jun 28
Changed: Oct 11
Last Checked: Oct 21 at 2:57AM
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
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Investment Insights
Based on property information with market context.
Built in 1980, this ground-floor residential income property offers a two-bedroom, two-bath layout with step-free access. Interior improvements include updated plumbing and electrical systems, a redesigned kitchen with granite counters, cabinetry, and appliances, along with refreshed bathrooms, flooring, and paint. A Murphy bed is included in the second bedroom, and the unit also has a washer and dryer.
Outdoor living extends to two patios. The property includes shared garage parking with loft storage, plus community access to a heated pool and spa. Shopping, restaurants, and Fountain Park are located a short distance from the residence.
Outdoor living extends to two patios. The property includes shared garage parking with loft storage, plus community access to a heated pool and spa. Shopping, restaurants, and Fountain Park are located a short distance from the residence.
Key Highlights
- Ground‑floor unit with no steps
- Two bedrooms and two bathrooms
- Updated plumbing and electrical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,640
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,800
$252.8K
Cap Rate 7%
$180,571
$180.6K
Cap Rate 9%
$140,444
$140.4K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$24.2K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$23.0K $20.52/SF
− OpEx
−$10.3K −$9.23/SF
NOI
$12.6K $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%
$252,800
Cap Rate 7%
$180,571
Cap Rate 9%
$140,444
Alternative Uses
Best Use
Apartment 5plus
$180.6K
$158.0K – $210.7K
NOI $12,640 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$346.4K
$303.1K – $404.2K
NOI $24,251 @ 7.0% cap · market cap 6.07%
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
547
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 - Updated two-bedroom, two-bath unit with patios, shared garage storage, and access to a heated pool and spa.
Where is this residential income property located?
The property is located at 16216 E ROSETTA Drive 29 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Ground‑floor unit with no steps; Two bedrooms and two bathrooms; Updated plumbing and electrical systems
