Two-Bedroom Condo with
For Sale
$299,900
16357 E Arrow Drive 105, Fountain Hills, AZ 85268
Community amenities include a pool, spa, and putting green, with Fountain Park, schools, shops, and restaurants within walking distance.
Property Size969 SF
Price / SF$309.49
Days on Market455
Property Features for 16357 E Arrow Drive 105
General Information
Standard status
Active
Size
969 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$620
Amenities
pool
spa
putting green
fireplace
Building Details
Building Size
969 SF
Year Built
1998
Listing Agency:
Keller Williams Realty Sonoran Living
Listed By:
BVO Luxury Group · License #01428775
(833) 286-7653
Source:
Bvoluxury
Added: Jul 31, 2025
Changed: Oct 26
Last Checked: Oct 26 at 3:03PM
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 Keller Williams Realty Sonoran Living
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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 969-square-foot condo at Fiesta Casitas has two bedrooms and a great room with high ceilings, tile flooring, and a fireplace. The kitchen features granite counters, wood cabinetry, stainless steel appliances, and a peninsula with breakfast seating. The primary bedroom has a walk-in closet and private bath with dual sinks; the second bedroom has carpeting. The home was built in 1998 and has a front patio with mountain views at sunrise and sunset.
Residents can use the community pool, spa, and putting green. Fountain Park, schools, shopping, and restaurants are all within walking distance.
Residents can use the community pool, spa, and putting green. Fountain Park, schools, shopping, and restaurants are all within walking distance.
Key Highlights
- Two‑bedroom, 969‑square‑foot condo built in 1998
- Great room with high ceilings, tile flooring, and fireplace
- Kitchen with granite counters, wood cabinets, stainless steel appliances, and breakfast‑bar peninsula
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,936
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$218,720
$218.7K
Cap Rate 7%
$156,229
$156.2K
Cap Rate 9%
$121,511
$121.5K
Market Conditions
NOI Build-Up for 969 SF
Gross rent
$20.9K $21.60/SF
− Vacancy
−$1.0K −$1.08/SF
EGI
$19.9K $20.52/SF
− OpEx
−$8.9K −$9.23/SF
NOI
$10.9K $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%
$218,720
Cap Rate 7%
$156,229
Cap Rate 9%
$121,511
Alternative Uses
Best Use
Apartment 5plus
$156.2K
$136.7K – $182.3K
NOI $10,936 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$299.7K
$262.3K – $349.7K
NOI $20,982 @ 7.0% cap · market cap 7.00%
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
1,232
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 - Community amenities include a pool, spa, and putting green, with Fountain Park, schools, shops, and restaurants within walking distance.
Where is this residential income property located?
The property is located at 16357 E Arrow Drive 105 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑bedroom, 969‑square‑foot condo built in 1998; Great room with high ceilings, tile flooring, and fireplace; Kitchen with granite counters, wood cabinets, stainless steel appliances, and breakfast‑bar peninsula
