Gated Residential Income
For Sale
$430,000
Pending
16800 E EL LAGO Boulevard 2045, Fountain Hills, AZ 85268
Condominium residence with a granite kitchen, attached garage, and access to pool, spa, and fitness amenities.
Property Size1,348 SF
Days on Market73
Property Features for 16800 E EL LAGO Boulevard 2045
General Information
Standard status
Pending
Size
1,348 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,241
Amenities
heated pool
spa
fitness center
Building Details
Building Size
1,348 SF
Year Built
2005
Listing Agency:
HomeSmart Lifestyles
Listed By:
Patricia L Irwin
(480) 888-6708
Source:
Jcluxuryresidential
Added: Jun 26
Changed: Sep 2
Last Checked: Sep 1 at 10:40PM
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 HomeSmart Lifestyles
Investment Insights
Based on property information with market context.
This condominium residence in the gated Village at Towne Center was built in 2005 and combines hardwood and tile flooring across the main living areas with carpeted bedrooms. The kitchen includes granite countertops, stainless steel appliances, and substantial cabinetry. An attached one-car garage adds private parking and storage convenience.
Residents have access to a heated pool, spa, and fitness center. HOA services include DirectTV and internet. The property is positioned in downtown Fountain Hills near shopping, dining, parks, and the community’s fountain.
Residents have access to a heated pool, spa, and fitness center. HOA services include DirectTV and internet. The property is positioned in downtown Fountain Hills near shopping, dining, parks, and the community’s fountain.
Key Highlights
- Gated Village at Towne Center condominium
- Built in 2005 with hardwood and tile flooring in main living areas
- Kitchen features granite countertops, stainless steel appliances, and abundant cabinetry
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
$15,214
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
3.54%
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%
$304,280
$304.3K
Cap Rate 7%
$217,343
$217.3K
Cap Rate 9%
$169,044
$169.0K
Market Conditions
NOI Build-Up for 1,348 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
$29.1K $21.60/SF
− Vacancy
−$1.5K −$1.08/SF
EGI
$27.7K $20.52/SF
− OpEx
−$12.4K −$9.23/SF
NOI
$15.2K $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%
$304,280
Cap Rate 7%
$217,343
Cap Rate 9%
$169,044
Alternative Uses
Best Use
Apartment 5plus
$217.3K
$190.2K – $253.6K
NOI $15,214 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.0K
$364.9K – $486.5K
NOI $29,188 @ 7.0% cap · market cap 6.79%
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
1,518
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 - Condominium residence with a granite kitchen, attached garage, and access to pool, spa, and fitness amenities.
Where is this residential income property located?
The property is located at 16800 E EL LAGO Boulevard 2045 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Gated Village at Towne Center condominium; Built in 2005 with hardwood and tile flooring in main living areas; Kitchen features granite countertops, stainless steel appliances, and abundant cabinetry
