12635 N LA Montana Dr N #6 · Fountain Hills, AZ 85268

$229,999

2 bd · 1.0 ba · 858 sqft · Condo public records · 76 Days on market

Built 1979 $268/sqft · 18% below area Est $280k · 18% under $255/mo HOA · 12% of rent

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Why this score? — see what drove the C- 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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful condo in the heart of the highly desired Fountain Hills community. Enjoy breathtaking Four Peaks mountain views from the front entry walkway and additional mountain views from the community pool. This home features updated finishes throughout with no need for renovations, making it truly move-in ready. The extra-large back patio offers the perfect space to relax, entertain, and enjoy Arizona living. Ideally located within walking distance to shopping, dining, and the world-famous Fountain, this property combines comfort, convenience, and incredible scenery in one of the area's most sought-after locations!

Key facts

• Community pool
• Incredible scenery
• $255 HOA

Tags

• FOUR PEAKS MOUNTAIN VIEWS
• COMMUNITY POOL
• EXTRA-LARGE BACK PATIO
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO DINING
• INCREDIBLE SCENERY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $80 ($957/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (7.8% below list).
• Recommended offer: $212k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 76 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 4→8/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,086 (7.8% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

• ARV (median comp): $279,518
• List price: $229,999
• Delta: -17.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-36,278
• Equity at exit: $34,294

10-year hold

• IRR: -11.8%
• Equity multiple: 0.36×
• Total profit: $-41,168
• Equity at exit: $19,886

Cash invested: $64,400 (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: 9.0×

Monthly cashflow live

• Estimated rent: $2,121 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$96
• HOA: −$255
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $80

Break-even live

Break-even rent $2,020

Max offer price $229,999

Occupancy floor 91%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16631 E El Lago Blvd Fountain Hills, AZ	2.0	2.0	1085	$1,774	$1.64	24d	2	0.03mi
12635 N La Montana Dr #15 Fountain Hills, AZ	2.0	1.0	858	$1,495	$1.74	43d	1	0.04mi
16545 E Gunsight Dr #122 Fountain Hills, AZ	1.0	2.0	750	$1,500	$2.00	14d	1	0.11mi
16545 E Gunsight Dr #223 Fountain Hills, AZ	1.0	2.0	750	$1,300	$1.73	14d	1	0.11mi
16715 E El Lago Blvd #214 Fountain Hills, AZ	2.0	2.0	1085	$1,700	$1.57	24d	1	0.15mi
16453 E Segundo Dr Unit 2 Fountain Hills, AZ	2.0	1.0	945	$4,900	$5.19	43d	1	0.20mi
16657 E Gunsight Dr Fountain Hills, AZ	2.0	2.0	865	$1,645	$1.90	11d	1	0.20mi
16724 E Gunsight Dr #219 Fountain Hills, AZ	2.0	1.5	1017	$2,595	$2.55	5d	1	0.22mi
16725 E Avenue of the Fountains Fountain Hills, AZ	1.0	1.0	860	$1,649	$1.92	2d	1	0.26mi
16725 E Avenue of the Fountains Fountain Hills, AZ	1.0	1.0	860	$1,675	$1.95	12d	1	0.26mi
16807 E Gunsight Dr Unit B14 Fountain Hills, AZ	1.0	1.0	576	$2,750	$4.77	43d	1	0.31mi
16819 E Gunsight Dr Unit A8 Fountain Hills, AZ	1.0	1.0	576	$2,900	$5.03	43d	1	0.34mi
16819 E Gunsight Dr Unit A2 Fountain Hills, AZ	1.0	1.0	576	$1,600	$2.78	24d	1	0.34mi
16715 E Parkview Ave Unit 201 Fountain Hills, AZ	1.0	1.0	1100	$1,725	$1.57	4d	1	0.39mi
16550 E Avenue of the Fountains Fountain Hills, AZ	1.0–2.0	1.0–2.0	896	$2,440	$2.72	3d	8	0.44mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1063	$1,750	$1.65	21d	1	0.47mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1005	$1,750	$1.74	43d	1	0.47mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1063	$1,750	$1.65	24d	1	0.47mi
17031 E El Lago Blvd #2106 Fountain Hills, AZ	1.0	1.0	649	$3,500	$5.39	24d	1	0.54mi
17031 E El Lago Blvd Fountain Hills, AZ	1.0	1.0	649	$3,050	$4.70	20d	2	0.59mi
17031 E El Lago Blvd Fountain Hills, AZ	1.0	1.0	649	$2,550	$3.93	24d	3	0.59mi
16216 E Rosetta Dr #31 Fountain Hills, AZ	2.0	2.0	1000	$3,700	$3.70	2d	1	0.64mi
16510 E Palisades Blvd #22 Fountain Hills, AZ	2.0	1.5	1105	$2,900	$2.62	43d	1	0.67mi
13607 N Hamilton Dr Unit A18 Fountain Hills, AZ	2.0	2.0	987	$2,699	$2.73	43d	1	0.70mi
12005 N Panorama Dr Fountain Hills, AZ	1.0–2.0	1.0	830	$2,850	$3.43	23d	2	0.70mi
16912 E La Montana Dr Unit D124 Fountain Hills, AZ	2.0	2.0	987	$3,500	$3.55	43d	1	0.72mi
13624 N Saguaro Blvd Unit B118 Fountain Hills, AZ	2.0	2.0	1000	$1,495	$1.50	24d	1	0.73mi
16357 E Arrow Dr #115 Fountain Hills, AZ	2.0	2.0	1074	$1,850	$1.72	43d	1	0.74mi
13636 N Saguaro Blvd #103 Fountain Hills, AZ	2.0	2.0	912	$2,800	$3.07	43d	1	0.75mi
16750 E Westby Dr Unit B Fountain Hills, AZ	2.0	2.0	1076	$2,800	$2.60	43d	1	0.78mi
13804 N Saguaro Blvd #211 Fountain Hills, AZ	2.0	2.0	1032	$3,000	$2.91	43d	1	0.78mi
16344 E Arrow Dr Unit A1 Fountain Hills, AZ	2.0	2.0	979	$3,300	$3.37	43d	1	0.82mi
13818 N Saguaro Blvd Fountain Hills, AZ	2.0	2.0	1032	$1,700	$1.65	5d	2	0.83mi
14216 N Saguaro Blvd Fountain Hills, AZ	2.0	2.0	1090	$2,100	$1.93	24d	1	1.04mi
14247 N Boxwood Ln Fountain Hills, AZ	2.0	1.5	967	$2,900	$3.00	43d	1	1.13mi
14259 N Boxwood Ln Fountain Hills, AZ	2.0	1.0	1026	$1,500	$1.46	43d	1	1.15mi
14404 N Boxwood Ln Fountain Hills, AZ	2.0	1.5	967	$2,900	$3.00	43d	1	1.16mi
14645 N Fountain Hills Blvd #204 Fountain Hills, AZ	2.0	2.0	1000	$3,100	$3.10	43d	1	1.30mi
14620 N Yerba Buena Way Unit D Fountain Hills, AZ	2.0	2.0	1026	$2,200	$2.14	43d	1	1.32mi
14644 Yerba Buena Way Fountain Hills, AZ	2.0	1.0	1000	$1,499	$1.50	43d	1	1.37mi

HOA detail condo

• Monthly dues: $255 · $3,060/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $229,999 Active 76 DOM
2. 2026-06-17
   days on market $229,999 Active 75 DOM
3. 2026-06-16
   days on market $229,999 Active 74 DOM
4. 2026-06-15
   days on market $229,999 Active 73 DOM
5. 2026-06-13
   days on market $229,999 Active 71 DOM
6. 2026-06-09
   days on market $229,999 Active 67 DOM
7. 2026-06-08
   days on market $229,999 Active 66 DOM
8. 2026-06-07
   days on market $229,999 Active 65 DOM
9. 2026-06-04
   days on market $229,999 Active 62 DOM
10. 2026-06-03
    days on market $229,999 Active 61 DOM
11. 2026-06-02
    days on market $229,999 Active 60 DOM
12. 2026-06-01
    days on market $229,999 Active 59 DOM
13. 2026-05-31
    days on market $229,999 Active 58 DOM
14. 2026-04-21
    price $229,999 622-char remark

    Show marketing remark (622 chars)

    Beautiful condo in the heart of the highly desired Fountain Hills community. Enjoy breathtaking Four Peaks mountain views from the front entry walkway and additional mountain views from the community pool. This home features updated finishes throughout with no need for renovations, making it truly move-in ready. The extra-large back patio offers the perfect space to relax, entertain, and enjoy Arizona living. Ideally located within walking distance to shopping, dining, and the world-famous Fountain, this property combines comfort, convenience, and incredible scenery in one of the area's most sought-after locations!

15. 2026-04-03
    listed $239,999 Active 622-char remark

    Show marketing remark (622 chars)

    Beautiful condo in the heart of the highly desired Fountain Hills community. Enjoy breathtaking Four Peaks mountain views from the front entry walkway and additional mountain views from the community pool. This home features updated finishes throughout with no need for renovations, making it truly move-in ready. The extra-large back patio offers the perfect space to relax, entertain, and enjoy Arizona living. Ideally located within walking distance to shopping, dining, and the world-famous Fountain, this property combines comfort, convenience, and incredible scenery in one of the area's most sought-after locations!

16. 2022-02-20
    soldstatus $235,000 Closed 453-char remark

    Show marketing remark (453 chars)

    Great location in down town Fountain Hills. pictures don't lie. This is now the newest and nicest unit in the complex. New security and front door. New planked floors, Professionaly painted by Fine Cut Painting Co. Kitchen Ceiling raised now its open to the great room. Master bed room has patio doors leading out to completly resurfaced private upper level huge covered patio. Plus new barn style frosted glass closet doors. Professional photos coming

17. 2022-02-16
    soldstatus $235,000
18. 2022-01-20
    historical Under Contract Accepting Backups 453-char remark

    Show marketing remark (453 chars)

    Great location in down town Fountain Hills. pictures don't lie. This is now the newest and nicest unit in the complex. New security and front door. New planked floors, Professionaly painted by Fine Cut Painting Co. Kitchen Ceiling raised now its open to the great room. Master bed room has patio doors leading out to completly resurfaced private upper level huge covered patio. Plus new barn style frosted glass closet doors. Professional photos coming

19. 2021-12-30
    listed $235,000 Active 453-char remark

    Show marketing remark (453 chars)

    Great location in down town Fountain Hills. pictures don't lie. This is now the newest and nicest unit in the complex. New security and front door. New planked floors, Professionaly painted by Fine Cut Painting Co. Kitchen Ceiling raised now its open to the great room. Master bed room has patio doors leading out to completly resurfaced private upper level huge covered patio. Plus new barn style frosted glass closet doors. Professional photos coming

20. 2012-10-11
    soldstatus $59,900
21. 2012-10-10
    soldstatus $59,900 Closed
22. 2012-09-09
    status Pending
23. 2012-08-31
    historical Under Contract Accepting Backups
24. 2012-08-25
    listed $59,900 Active
25. 1995-09-12
    soldstatus $57,000
26. 1995-01-19
    soldstatus $50,000

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $1,518 · $126/mo
• Expected delta: +$1,053/yr (+$88/mo · 226.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 4 d/yr ≥112°F today · 8 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: $25,450
• − Mortgage interest: −$12,884
• − Property taxes: −$465
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,036
• − Management: −$2,036
• − HOA: −$3,060
• − Depreciation: −$6,691
• Taxable loss: −$2,871
• Est. tax savings @ 24.0%: +$689
• After-tax cash flow: $1,646/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

+360.0% since first listed

13 events — show timeline

• 2026-04-21 Price Changed $229,999 ARMLS
• 2026-04-03 Listed $239,999 ARMLS
• 2022-02-20 Sold (MLS) $235,000 ARMLS
• 2022-02-16 Sold (Public Records) $235,000 Public Records
• 2022-01-20 Contingent — ARMLS
• 2021-12-30 Listed $235,000 ARMLS
• 2012-10-11 Sold (Public Records) $59,900 Public Records
• 2012-10-10 Sold (MLS) $59,900 ARMLS
• 2012-09-09 Pending — ARMLS
• 2012-08-31 Contingent — ARMLS
• 2012-08-25 Listed $59,900 ARMLS
• 1995-09-12 Sold (Public Records) $57,000 Public Records
• 1995-01-19 Sold (Public Records) $50,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $465 · -3.7% YoY. Source: county tax records.