Furnished First-Floor Residential Income
New
For Sale
$360,000
9253 N Firebrick Dr #104, Fountain Hills, AZ 85268
Two-bedroom condominium with furnishings, kitchenware, and access to a resort-style pool and clubhouse.
Property Size1,220 SF
Price / SF$295.08
Days on Market3
Property Features for 9253 N Firebrick Dr #104
General Information
Standard status
Active
Size
1,220 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
1
Amenities
resort-style pool
clubhouse
Building Details
Year Built
1996
Listing Agency:
Prestige Realty
(602) 944-2100
Listed By:
Cook & Associates Real Estate Advisors
(480) 442-9868
Source:
Viewarizonahomesforsale
Added: Sep 15
Last Checked: Sep 16 at 6:00PM
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 Prestige Realty
Investment Insights
Based on property information with market context.
This first-floor condominium offers 2 bedrooms and 2 bathrooms within a 1,220-square-foot layout. Built in 1996, the residence is conveyed with furniture, accessories, and kitchenware, providing a furnished setup for immediate use. The property is presented as a low-maintenance residential option suitable for full-time living, seasonal occupancy, or a lock-and-leave retreat.
Located at 9253 N Firebrick Dr #104 in Fountain Hills, the condominium sits just off Shea Blvd with access to Scottsdale, shopping, dining, and Sky Harbor Airport. The airport is approximately 20 minutes away. Community amenities include a resort-style pool and clubhouse.
Located at 9253 N Firebrick Dr #104 in Fountain Hills, the condominium sits just off Shea Blvd with access to Scottsdale, shopping, dining, and Sky Harbor Airport. The airport is approximately 20 minutes away. Community amenities include a resort-style pool and clubhouse.
Key Highlights
- First‑floor 2‑bedroom, 2‑bath condominium
- 1,220 square feet; built in 1996
- Furniture, accessories, and kitchenware included
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
$13,769
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
3.82%
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%
$275,380
$275.4K
Cap Rate 7%
$196,700
$196.7K
Cap Rate 9%
$152,989
$153.0K
Market Conditions
NOI Build-Up for 1,220 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
$26.4K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$25.0K $20.52/SF
− OpEx
−$11.3K −$9.23/SF
NOI
$13.8K $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 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%
$275,380
Cap Rate 7%
$196,700
Cap Rate 9%
$152,989
Alternative Uses
Best Use
Apartment 5plus
$196.7K
$172.1K – $229.5K
NOI $13,769 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.4K
$330.2K – $440.3K
NOI $26,417 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with furnishings, kitchenware, and access to a resort-style pool and clubhouse.
Where is this residential income property located?
The property is located at 9253 N Firebrick Dr #104 Fountain Hills, AZ.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: First‑floor 2‑bedroom, 2‑bath condominium; 1,220 square feet; built in 1996; Furniture, accessories, and kitchenware included
