16826 E Lamplighter Way #8 · Fountain Hills, AZ 85268

$350,000

2 bd · 2.0 ba · 1,393 sqft · Condo public records · 63 Days on market

Built 1988 $251/sqft · 8% below area Est $379k · 8% under $320/mo HOA · 11% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.2/30.0
• ARV discount +10.9/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE IN READY, UPDATED w/furniture included. This charming 2-bedroom, 2.5-bath end unit in the sought-after Citadel community offers the perfect blend of comfort, style, & location. Backing to a serene wash, you'll enjoy picturesque mountain & fountain views right from home. Designed for flexibility & privacy, both bedrooms are spacious primary suites--one featuring a tastefully updated shower. Upstairs has newer carpet, while the main level showcases luxury vinyl plank flooring for a warm, modern feel. Kitchen shines w/newer cabinetry & appliances, making it both functional & inviting. Step outside & enjoy your own private patio--perfect for embracing Arizona's outdoor lifestyle. Quiet, boutique community of just 16 units, complete with a heated pool and spa. Come take a look!

Key facts

• Spa
• Private patio
• Updated kitchen

Tags

• UPDATED KITCHEN
• PRIVATE PATIO
• HEATED POOL
• SPA
• PICTURESQUE MOUNTAIN VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (19.0% below list).
• Recommended offer: $283k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.4% in Fountain Hills — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#45 in AZ) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, housing A; Watch: amenities F, commute F, cost of living F.
• Fountain Hills Unified District (4247) (other): math 32% / reading 47% proficiency, ranked #61 of 249 in AZ (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.0%/yr); 448 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 30% of the median local income ($113k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $132k; list at $350k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $283,456 (19.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 10.3

CMA / ARV

• ARV (median comp): $379,049
• List price: $350,000
• Delta: -7.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.03% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.28×
• Total profit: $-70,964
• Equity at exit: $52,186

10-year hold

• IRR: -20.0%
• Equity multiple: 0.03×
• Total profit: $-94,734
• Equity at exit: $30,262

Cash invested: $98,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85268

• Rents YoY: 1.0%
• Active inventory: 448
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,835 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$75 /mo · $906/yr
• Insurance: −$146
• HOA: −$320
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-137

Break-even live

Break-even rent $3,009

Max offer price $325,716

Occupancy floor 100%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16812 E Lamplighter Way #10 Fountain Hills, AZ	2.0	2.0	1393	$4,200	$3.02	43d	1	0.05mi
12034 N Saguaro Blvd #201 Fountain Hills, AZ	2.0	2.0	1597	$2,095	$1.31	5d	1	0.09mi
16724 E Gunsight Dr #219 Fountain Hills, AZ	2.0	1.5	1017	$2,595	$2.55	5d	1	0.18mi
12438 N Saguaro Blvd Fountain Hills, AZ	3.0	2.5	1772	$2,095	$1.18	24d	2	0.19mi
111652 N Saguaro Blvd Fountain Hills, AZ	2.0	2.0	1500	$2,299	$1.53	43d	1	0.23mi
16715 E El Lago Blvd #214 Fountain Hills, AZ	2.0	2.0	1085	$1,700	$1.57	24d	1	0.27mi
12050 N Panorama Dr #208 Fountain Hills, AZ	2.0	2.0	1399	$2,430	$1.74	43d	1	0.31mi
16800 E El Lago Blvd Fountain Hills, AZ	2.0	2.0	1348	$3,350	$2.49	5d	2	0.32mi
16800 E El Lago Blvd #2057 Fountain Hills, AZ	2.0	2.0	1348	$4,500	$3.34	24d	1	0.34mi
16631 E El Lago Blvd Fountain Hills, AZ	2.0	2.0	1085	$1,774	$1.64	24d	2	0.37mi
12213 N Chama Dr Unit 2 Fountain Hills, AZ	2.0	2.0	1200	$2,700	$2.25	5d	1	0.38mi
12213 N Chama Dr Unit 2 Fountain Hills, AZ	2.0	2.0	1250	$2,999	$2.40	43d	1	0.38mi
16453 E Segundo Dr Unit 1 Fountain Hills, AZ	3.0	2.0	1414	$5,900	$4.17	43d	1	0.49mi
16453 E Segundo Dr Unit 2 Fountain Hills, AZ	2.0	1.0	945	$4,900	$5.19	43d	1	0.49mi
16725 E Avenue of the Fountains Fountain Hills, AZ	2.0	2.0	1192	$2,199	$1.84	1d	1	0.51mi
16725 E Avenue of the Fountains Fountain Hills, AZ	2.0	2.0	1192	$2,240	$1.88	43d	1	0.51mi
12237 N Gambel Dr Fountain Hills, AZ	2.0	2.0	1417	$2,590	$1.83	24d	1	0.54mi
16525 E Avenue of the Fountains #116 Fountain Hills, AZ	2.0	2.0	1190	$1,575	$1.32	23d	1	0.63mi
17343 E Quail Ridge Dr Fountain Hills, AZ	2.0	2.0	1323	$5,000	$3.78	43d	1	0.63mi
11725 N Desert Vis #109 Fountain Hills, AZ	3.0	2.5	1828	$6,000	$3.28	43d	1	0.68mi
16715 E Parkview Ave Unit 201 Fountain Hills, AZ	1.0	1.0	1100	$1,725	$1.57	4d	1	0.69mi
16550 E Avenue of the Fountains Fountain Hills, AZ	1.0–2.0	1.0–2.0	896	$2,440	$2.72	2d	8	0.80mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1063	$1,750	$1.65	21d	1	0.86mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1063	$1,750	$1.65	24d	1	0.86mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1005	$1,750	$1.74	43d	1	0.86mi
16912 E La Montana Dr Unit D124 Fountain Hills, AZ	2.0	2.0	987	$3,500	$3.55	43d	1	0.89mi
13607 N Hamilton Dr Unit A18 Fountain Hills, AZ	2.0	2.0	987	$2,699	$2.73	43d	1	0.90mi
13507 N Vista del Lago Fountain Hills, AZ	3.0	2.0	1386	$5,800	$4.18	43d	1	0.91mi
13624 N Saguaro Blvd Unit B118 Fountain Hills, AZ	2.0	2.0	1000	$1,495	$1.50	24d	1	0.92mi
13606 N Cambria Dr #208 Fountain Hills, AZ	3.0	2.0	1519	$4,500	$2.96	43d	1	0.92mi
13606 N Cambria Dr Fountain Hills, AZ	2.0–3.0	2.0	1534	$4,000	$2.61	2d	2	0.92mi
13616 N Hamilton Dr Fountain Hills, AZ	3.0	2.0	1768	$2,400	$1.36	43d	1	0.93mi
13616 N Hamilton Dr Fountain Hills, AZ	3.0	2.0	1795	$2,400	$1.34	24d	1	0.93mi
13636 N Saguaro Blvd #103 Fountain Hills, AZ	2.0	2.0	912	$2,800	$3.07	43d	1	0.94mi
16714 E Almont Dr Fountain Hills, AZ	3.0	2.5	1650	$2,850	$1.73	43d	1	0.95mi
16714 E Almont Dr Unit Astoria Luxury Villas Fountain Hills, AZ	3.0	2.5	1650	$2,500	$1.52	43d	1	0.95mi
16714 E Almont Dr Unit 4 Fountain Hills, AZ	3.0	2.5	1650	$6,800	$4.12	17d	1	0.95mi
16450 E Avenue of the Fountains #7 Fountain Hills, AZ	3.0	2.0	1566	$2,300	$1.47	43d	1	0.96mi
13804 N Saguaro Blvd #211 Fountain Hills, AZ	2.0	2.0	1032	$3,000	$2.91	43d	1	0.98mi
16233 E Rosetta Dr Unit 1546444P Fountain Hills, AZ	2.0	2.0	1227	$2,653	$2.16	14d	1	0.98mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $350,000 Active 63 DOM
2. 2026-06-17
   days on market $350,000 Active 62 DOM
3. 2026-06-16
   days on market $350,000 Active 61 DOM
4. 2026-06-15
   days on market $350,000 Active 60 DOM
5. 2026-06-13
   days on market $350,000 Active 58 DOM
6. 2026-06-09
   days on market $350,000 Active 54 DOM
7. 2026-06-08
   days on market $350,000 Active 53 DOM
8. 2026-06-07
   days on market $350,000 Active 52 DOM
9. 2026-06-04
   days on market $350,000 Active 49 DOM
10. 2026-06-03
    days on market $350,000 Active 48 DOM
11. 2026-06-02
    days on market $350,000 Active 47 DOM
12. 2026-06-01
    days on market $350,000 Active 46 DOM
13. 2026-05-31
    days on market $350,000 Active 45 DOM
14. 2026-05-13
    price $350,000 818-char remark

    Show marketing remark (818 chars)

    MOVE IN READY, UPDATED w/furniture included. This charming 2-bedroom, 2.5-bath end unit in the sought-after Citadel community offers the perfect blend of comfort, style, & location. Backing to a serene wash, you'll enjoy picturesque mountain & fountain views right from home. Designed for flexibility & privacy, both bedrooms are spacious primary suites--one featuring a tastefully updated shower. Upstairs has newer carpet, while the main level showcases luxury vinyl plank flooring for a warm, modern feel. Kitchen shines w/newer cabinetry & appliances, making it both functional & inviting. Step outside & enjoy your own private patio--perfect for embracing Arizona's outdoor lifestyle. Quiet, boutique community of just 16 units, complete with a heated pool and spa. Come take a look!

15. 2026-04-16
    listed $362,500 Active 818-char remark

    Show marketing remark (818 chars)

    MOVE IN READY, UPDATED w/furniture included. This charming 2-bedroom, 2.5-bath end unit in the sought-after Citadel community offers the perfect blend of comfort, style, & location. Backing to a serene wash, you'll enjoy picturesque mountain & fountain views right from home. Designed for flexibility & privacy, both bedrooms are spacious primary suites--one featuring a tastefully updated shower. Upstairs has newer carpet, while the main level showcases luxury vinyl plank flooring for a warm, modern feel. Kitchen shines w/newer cabinetry & appliances, making it both functional & inviting. Step outside & enjoy your own private patio--perfect for embracing Arizona's outdoor lifestyle. Quiet, boutique community of just 16 units, complete with a heated pool and spa. Come take a look!

16. 2003-01-13
    soldstatus $132,500 430-char remark

    Show marketing remark (430 chars)

    PRIDE OF OWNERSHIP SHINES THUOUT THIS LOVELY & HIGHLY POPULAR TOWNHOME 2 Master BR's & 2 .5 baths. Living Room with fireplace & patio that overlooks the wash with wonderful views of the world famous FOUNTAIN. Next door to heated pool & spa. Attached one car garage & water softner. Completely furnished and ready to move into. Don't miss it! Tasteful and inviting. Measurments are approximate, Buyer to verify.

17. 2003-01-13
    soldstatus $132,500

    Show marketing remark (430 chars)

    PRIDE OF OWNERSHIP SHINES THUOUT THIS LOVELY & HIGHLY POPULAR TOWNHOME 2 Master BR's & 2 .5 baths. Living Room with fireplace & patio that overlooks the wash with wonderful views of the world famous FOUNTAIN. Next door to heated pool & spa. Attached one car garage & water softner. Completely furnished and ready to move into. Don't miss it! Tasteful and inviting. Measurments are approximate, Buyer to verify.

18. 2002-11-20
    historical 430-char remark

    Show marketing remark (430 chars)

    PRIDE OF OWNERSHIP SHINES THUOUT THIS LOVELY & HIGHLY POPULAR TOWNHOME 2 Master BR's & 2 .5 baths. Living Room with fireplace & patio that overlooks the wash with wonderful views of the world famous FOUNTAIN. Next door to heated pool & spa. Attached one car garage & water softner. Completely furnished and ready to move into. Don't miss it! Tasteful and inviting. Measurments are approximate, Buyer to verify.

19. 2002-10-15
    listed $135,000 430-char remark

    Show marketing remark (430 chars)

    PRIDE OF OWNERSHIP SHINES THUOUT THIS LOVELY & HIGHLY POPULAR TOWNHOME 2 Master BR's & 2 .5 baths. Living Room with fireplace & patio that overlooks the wash with wonderful views of the world famous FOUNTAIN. Next door to heated pool & spa. Attached one car garage & water softner. Completely furnished and ready to move into. Don't miss it! Tasteful and inviting. Measurments are approximate, Buyer to verify.

20. 1992-03-31
    soldstatus $76,450

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $906 · $75/mo
• Projected year-2 tax: $2,310 · $192/mo
• Expected delta: +$1,404/yr (+$117/mo · 155.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 5 d/yr ≥112°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,015
• − Mortgage interest: −$19,605
• − Property taxes: −$906
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,721
• − Management: −$2,721
• − HOA: −$3,840
• − Depreciation: −$10,182
• Taxable loss: −$7,711
• Est. tax savings @ 24.0%: +$1,851
• After-tax cash flow: $201/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fountain Hills Unified District (4247)
• NCES district ID: 0403040
• Math proficiency: 32% ▼ -21.00%
• Reading proficiency: 47% ▼ -8.00%
• Median HH income: $75,038
• Composite: 36.41/100
• National rank: #4677
• State rank: #61 of 249 in AZ

Livability — Fountain Hills

• Score: 69/100
• State rank: #45
• US rank: #8769

Category grades

Amenities F Commute F Cost of living F Crime A Employment A+ Housing A Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fountain Hills, AZ
• County: Maricopa County · 4,537,380 people
• City population: 23,849
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 23,849
• Household income: $112,795
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 374.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Romanian 4% Portuguese 4% Slovak 3%
• Foreign-born: 8% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -205.81%
• Current HPI: 283.4064
• Rent YoY: ▲ 1.03%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+357.8% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $350,000 ARMLS
• 2026-04-16 Listed $362,500 ARMLS
• 2003-01-13 Sold (Public Records) $132,500 Public Records
• 2003-01-13 Sold (MLS) $132,500 ARMLS
• 2002-11-20 Listing Removed — ARMLS
• 2002-10-15 Listed $135,000 ARMLS
• 1992-03-31 Sold (Public Records) $76,450 Public Records

Property tax history

-0.5%/yr

Latest (2025): $906 · -3.7% YoY. Source: county tax records.