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 Market71
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: Aug 24
Last Checked: Sep 5 at 6:12AM
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 MCO Realty
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 = 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
$12,640
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
3.16%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
