Two-Bedroom Condominium with
For Sale
$290,000
16323 E Arrow Drive 203, Fountain Hills, AZ 85268
The primary suite opens directly to a covered balcony and includes a walk-in closet and dual sinks.
Property Size1,044 SF
Price / SF$277.78
Days on Market163
Property Features for 16323 E Arrow Drive 203
General Information
Standard status
Active
Size
1,044 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$383
Amenities
pool
Building Details
Building Size
1,044 SF
Year Built
1996
Listing Agency:
MCO Realty
Listed By:
Jennifer Stricker
(480) 253-0786
Source:
Bvoluxury
Added: May 19
Changed: Oct 26
Last Checked: Oct 26 at 2:40PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,044-square-foot condominium has two bedrooms and two bathrooms, with an open floor plan and spacious living areas. The primary suite features a walk-in closet, dual sinks, and access to a covered balcony; exterior storage is also provided. Built in 1996, the unit has a replaced air-conditioning system and three new windows installed this year.
Residents have access to a community pool. Fountain Park, dining, and shopping are minutes away in Fountain Hills.
Residents have access to a community pool. Fountain Park, dining, and shopping are minutes away in Fountain Hills.
Key Highlights
- Two bedrooms and two bathrooms in 1,044 square feet
- Primary suite includes a walk‑in closet, dual sinks, and covered balcony access
- Covered balcony with additional exterior storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,783
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$235,660
$235.7K
Cap Rate 7%
$168,329
$168.3K
Cap Rate 9%
$130,922
$130.9K
Market Conditions
NOI Build-Up for 1,044 SF
Gross rent
$22.6K $21.60/SF
− Vacancy
−$1.1K −$1.08/SF
EGI
$21.4K $20.52/SF
− OpEx
−$9.6K −$9.23/SF
NOI
$11.8K $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%
$235,660
Cap Rate 7%
$168,329
Cap Rate 9%
$130,922
Alternative Uses
Best Use
Apartment 5plus
$168.3K
$147.3K – $196.4K
NOI $11,783 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.9K
$282.6K – $376.8K
NOI $22,606 @ 7.0% cap · market cap 7.80%
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
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
Frequently Asked Questions
What type of property is this?
Residential income property - The primary suite opens directly to a covered balcony and includes a walk-in closet and dual sinks.
Where is this residential income property located?
The property is located at 16323 E Arrow Drive 203 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in 1,044 square feet; Primary suite includes a walk‑in closet, dual sinks, and covered balcony access; Covered balcony with additional exterior storage
