Ground-Floor Residential Income
For Sale
$330,000
Pending
16307 E ARROW Drive 102, Fountain Hills, AZ 85268
Single-level condominium includes a garage, private patio, and updated primary bath.
Property Size1,150 SF
Days on Market127
Property Features for 16307 E ARROW Drive 102
General Information
Standard status
Pending
Size
1,150 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$868
Amenities
private patio
plantation shutters
granite countertops
stainless steel appliances
Building Details
Building Size
1,150 SF
Year Built
1998
Listing Agency:
SERHANT.
Listed By:
Tanya Toliver
(623) 680-6022
Source:
Jcluxuryresidential
Added: Apr 30
Changed: Aug 20
Last Checked: Aug 19 at 3:12PM
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 SERHANT.
Investment Insights
Based on property information with market context.
Built in 1998, this ground-floor condominium provides a one-car garage with direct entry into the residence and no interior steps. The layout includes a spacious kitchen with granite countertops and stainless steel appliances, while the primary bathroom features vessel sinks and a remodeled shower. Plantation shutters, hard-surface flooring throughout, and a private patio overlooking a wash add practical and visual appeal. Furniture is also available for sale.
The property is within walking distance of shopping and dining. The Fountain and other Fountain Hills attractions are only minutes away, adding convenient access to nearby recreation and entertainment. The residence is positioned for everyday living or use as a rental property, subject to applicable requirements.
The property is within walking distance of shopping and dining. The Fountain and other Fountain Hills attractions are only minutes away, adding convenient access to nearby recreation and entertainment. The residence is positioned for everyday living or use as a rental property, subject to applicable requirements.
Key Highlights
- Ground‑floor condominium with no interior steps
- One‑car garage with direct access into the residence
- Kitchen features granite countertops and stainless steel appliances
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
$12,979
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
3.93%
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%
$259,580
$259.6K
Cap Rate 7%
$185,414
$185.4K
Cap Rate 9%
$144,211
$144.2K
Market Conditions
NOI Build-Up for 1,150 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
$24.8K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$23.6K $20.52/SF
− OpEx
−$10.6K −$9.23/SF
NOI
$13.0K $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%
$259,580
Cap Rate 7%
$185,414
Cap Rate 9%
$144,211
Alternative Uses
Best Use
Apartment 5plus
$185.4K
$162.2K – $216.3K
NOI $12,979 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.7K
$311.3K – $415.0K
NOI $24,901 @ 7.0% cap · market cap 7.55%
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
888
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 - Single-level condominium includes a garage, private patio, and updated primary bath.
Where is this residential income property located?
The property is located at 16307 E ARROW Drive 102 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Ground‑floor condominium with no interior steps; One‑car garage with direct access into the residence; Kitchen features granite countertops and stainless steel appliances
