Updated Residential Income
For Sale
$349,000
16715 E EL LAGO Boulevard 205, Fountain Hills, AZ 85268
Two-bedroom residence with remodeled finishes, a private balcony, and access to Plaza Del Lago community amenities.
Property Size1,067 SF
Price / SF$317.27
Days on Market140
Property Features for 16715 E EL LAGO Boulevard 205
General Information
Standard status
Active
Size
1,067 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$886
Amenities
fireplace
private balcony
heated community pool
fitness center
clubhouse
Building Details
Building Size
1,067 SF
Year Built
1997
Listing Agency:
Keller Williams Arizona Realty
(602) 882-9404
Listed By:
Richard F Barker · License #SA635052000
(602) 882-9404
Source:
Jcluxuryresidential
Added: Apr 9
Changed: Aug 21
Last Checked: Aug 26 at 1:36PM
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 Arizona Realty
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath residence spanning approximately 1,100 square feet. The interior has been refreshed with new flooring, granite countertops, stainless steel appliances, and ceiling fans with remote controls. A fireplace and wood plank accent wall define the living area, while the kitchen includes an island and pantry. The primary suite offers a walk-in closet and a remodeled bathroom with dual sinks and a soaking tub. A private balcony adds outdoor space and captures views of surrounding greenery and mountains.
Plaza Del Lago provides a heated community pool, fitness center, clubhouse, and covered parking. The property is located on E El Lago Boulevard in Fountain Hills, within walking distance of Fountain Park, dining, shopping, and nearby parks.
Plaza Del Lago provides a heated community pool, fitness center, clubhouse, and covered parking. The property is located on E El Lago Boulevard in Fountain Hills, within walking distance of Fountain Park, dining, shopping, and nearby parks.
Key Highlights
- Two‑bedroom, two‑bath residence with approximately 1,100 square feet
- Updated flooring, granite countertops, and stainless steel appliances
- Primary bathroom remodeled with dual sinks and a soaking tub
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
$12,415
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
3.56%
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%
$248,300
$248.3K
Cap Rate 7%
$177,357
$177.4K
Cap Rate 9%
$137,944
$137.9K
Market Conditions
NOI Build-Up for 1,100 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
$23.8K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$22.6K $20.52/SF
− OpEx
−$10.2K −$9.23/SF
NOI
$12.4K $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%
$248,300
Cap Rate 7%
$177,357
Cap Rate 9%
$137,944
Alternative Uses
Best Use
Apartment 5plus
$177.4K
$155.2K – $206.9K
NOI $12,415 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$340.3K
$297.7K – $397.0K
NOI $23,818 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,320
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 - Two-bedroom residence with remodeled finishes, a private balcony, and access to Plaza Del Lago community amenities.
Where is this residential income property located?
The property is located at 16715 E EL LAGO Boulevard 205 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence with approximately 1,100 square feet; Updated flooring, granite countertops, and stainless steel appliances; Primary bathroom remodeled with dual sinks and a soaking tub
