13700 N Fountain Hills Blvd #235 · Fountain Hills, AZ 85268

$269,900

2 bd · 2.0 ba · 1,108 sqft · Condo public records · 35 Days on market

Built 1998 $244/sqft · 17% below area Est $326k · 17% under $315/mo HOA · 13% 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).

• ARV discount +15.0/15.0
• Cash flow +13.1/30.0
• 1% rule +4.0/10.0
• DSCR +3.9/10.0
• 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

Darling 2 bed/2 bath condo in the heart of Fountain Hils! This inviting 2nd-floor unit offers a desirable split layout with two spacious bedrooms, each with its own full bath. Bright living area, functional kitchen and a private balcony create a comfortable lock and leave lifestyle. Enjoy the resort-style amenities including a sparkling pool, community room and work-out facility. Fantastic location within walking distance to Starbucks, grocery shopping, and sandwich shops, plus close to all the charm of Fountain Hills. Great full=time residence, winter getaway, or investment opportunity! Fountain Hills is a natural fit for buyers wanting low-maintenance ownership, outdoor recreation, mounta

Key facts

• Outdoor recreation
• Private balcony
• Community room

Tags

• PRIVATE BALCONY
• RESORT-STYLE AMENITIES
• COMMUNITY ROOM
• WORK-OUT FACILITY
• OUTDOOR RECREATION
• MOUNTAIN VIEWS

Property features AI

Finance

• HOA & community: Monthly association fee; Association fee covers roof repair and replacement, insurance, exterior maintenance, grounds/front yard maintenance, street maintenance, and trash; Community amenities: pool, heated community spa, and fitness center

Exterior

• Parking: 1 covered parking space; 1 carport space
• Utilities: Public sewer; Private water company
• Home design: Condominium (attached apartment)
• Construction: Stucco and wood frame construction; Painted exterior; Tile roof
• Exterior features: Balcony; Gravel/stone front yard; Gravel/stone back yard

Interior

• Kitchen: Built-in microwave; Refrigerator; Dishwasher; Garbage disposal; Laminate countertops
• Bedrooms: 2 bedrooms (possible)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: Breakfast bar; 9+ foot flat ceilings; Two master bathrooms; Full bath in master bedroom; Laminate counters
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-9 ($-112/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (10.2% below list).
• Recommended offer: $242k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Mcdowell Mountain Elementary School (math 47% / reading 57%, grade C-, #243 of 1,109 statewide, top 23%, 297 students, 32% FRL); Fountain Hills Middle School (math 31% / reading 45%, grade F, #54 of 218 statewide, top 25%, 390 students, 22% FRL); Fountain Hills High School (math 27% / reading 47%, grade F, #84 of 381 statewide, top 23%, 466 students, 17% FRL).
• 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 $8k 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 35 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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 3→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,431 (10.2% 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 35 days. Have you received any prior offers? Is the seller open to a 10% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.90% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.3

CMA / ARV

• ARV (median comp): $326,450
• List price: $269,900
• Delta: -17.32%
• 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: -18.8%
• Equity multiple: 0.35×
• Total profit: $-48,968
• Equity at exit: $40,243

10-year hold

• IRR: -16.0%
• Equity multiple: 0.18×
• Total profit: $-61,696
• Equity at exit: $23,336

Cash invested: $75,572 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,424 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$112
• HOA: −$315
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $-9

Break-even live

Break-even rent $2,436

Max offer price $268,257

Occupancy floor 95%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16216 E Rosetta Dr #31 Fountain Hills, AZ	2.0	2.0	1000	$3,700	$3.70	2d	1	0.21mi
16307 E Arrow Dr #106 Fountain Hills, AZ	2.0	2.0	1150	$4,500	$3.91	43d	1	0.26mi
16233 E Rosetta Dr Unit 1546444P Fountain Hills, AZ	2.0	2.0	1227	$2,653	$2.16	14d	1	0.27mi
16357 E Arrow Dr #115 Fountain Hills, AZ	2.0	2.0	1074	$1,850	$1.72	43d	1	0.29mi
16336 E Arrow Dr Unit A Fountain Hills, AZ	2.0	2.5	1244	$3,800	$3.05	43d	1	0.31mi
16344 E Arrow Dr Unit A1 Fountain Hills, AZ	2.0	2.0	979	$3,300	$3.37	43d	1	0.32mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1005	$1,750	$1.74	43d	1	0.37mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1063	$1,750	$1.65	24d	1	0.37mi
13225 N Fountain Hills Blvd Fountain Hills, AZ	2.0	2.0	1063	$1,750	$1.65	21d	1	0.37mi
16510 E Palisades Blvd Unit ucpb6 Fountain Hills, AZ	3.0	1.5	1200	$1,750	$1.46	21d	1	0.42mi
16510 E Palisades Blvd #22 Fountain Hills, AZ	2.0	1.5	1105	$2,900	$2.62	43d	1	0.42mi
13824 N Kendall Dr Unit A Fountain Hills, AZ	3.0	2.0	1477	$3,900	$2.64	2d	1	0.45mi
16550 E Avenue of the Fountains Fountain Hills, AZ	1.0–2.0	1.0–2.0	896	$2,440	$2.72	2d	8	0.48mi
13831 N Kendall Dr Unit A Fountain Hills, AZ	2.0	2.0	1150	$1,750	$1.52	5d	1	0.48mi
14222 N Brunswick Dr #1 Fountain Hills, AZ	2.0	2.0	1172	$1,725	$1.47	43d	1	0.58mi
16525 E Avenue of the Fountains #116 Fountain Hills, AZ	2.0	2.0	1190	$1,575	$1.32	23d	1	0.59mi
14272 N Fountain Hills Blvd Fountain Hills, AZ	3.0	2.0	1497	$2,600	$1.74	18d	1	0.64mi
16715 E Parkview Ave Unit 201 Fountain Hills, AZ	1.0	1.0	1100	$1,725	$1.57	4d	1	0.66mi
16728 E Westby Dr #103 Fountain Hills, AZ	3.0	2.5	1360	$2,199	$1.62	43d	1	0.67mi
16101 E Glendora Dr Fountain Hills, AZ	3.0	2.0	1412	$3,350	$2.37	3d	1	0.68mi
16750 E Westby Dr Unit B Fountain Hills, AZ	2.0	2.0	1076	$2,800	$2.60	43d	1	0.73mi
12635 N La Montana Dr #15 Fountain Hills, AZ	2.0	1.0	858	$1,495	$1.74	43d	1	0.77mi
16725 E Avenue of the Fountains Fountain Hills, AZ	2.0	2.0	1192	$2,199	$1.84	1d	1	0.78mi
16725 E Avenue of the Fountains Fountain Hills, AZ	1.0	1.0	860	$1,675	$1.95	12d	1	0.78mi
16725 E Avenue of the Fountains Fountain Hills, AZ	2.0	2.0	1192	$2,240	$1.88	43d	1	0.78mi
16725 E Avenue of the Fountains Fountain Hills, AZ	1.0	1.0	860	$1,649	$1.92	2d	1	0.78mi
16453 E Segundo Dr Unit 1 Fountain Hills, AZ	3.0	2.0	1414	$5,900	$4.17	43d	1	0.80mi
16453 E Segundo Dr Unit 2 Fountain Hills, AZ	2.0	1.0	945	$4,900	$5.19	43d	1	0.80mi
16631 E El Lago Blvd Fountain Hills, AZ	2.0	2.0	1085	$1,774	$1.64	24d	2	0.83mi
13607 N Hamilton Dr Unit A18 Fountain Hills, AZ	2.0	2.0	987	$2,699	$2.73	43d	1	0.84mi
16545 E Gunsight Dr #122 Fountain Hills, AZ	1.0	2.0	750	$1,500	$2.00	14d	1	0.84mi
13850 N Hamilton Dr Fountain Hills, AZ	2.0	2.0	1282	$4,000	$3.12	43d	1	0.84mi
16545 E Gunsight Dr #223 Fountain Hills, AZ	1.0	2.0	750	$1,300	$1.73	14d	1	0.85mi
13636 N Saguaro Blvd #103 Fountain Hills, AZ	2.0	2.0	912	$2,800	$3.07	43d	1	0.87mi
13804 N Saguaro Blvd #211 Fountain Hills, AZ	2.0	2.0	1032	$3,000	$2.91	43d	1	0.88mi
13624 N Saguaro Blvd Unit B118 Fountain Hills, AZ	2.0	2.0	1000	$1,495	$1.50	24d	1	0.88mi
13818 N Saguaro Blvd Fountain Hills, AZ	2.0	2.0	1032	$1,700	$1.65	5d	2	0.88mi
14402 N Ibsen Dr Unit B Fountain Hills, AZ	2.0	2.0	1469	$2,700	$1.84	43d	1	0.88mi
14402 N Ibsen Dr Unit B Fountain Hills, AZ	2.0	2.0	1469	$4,500	$3.06	21d	1	0.88mi
16912 E La Montana Dr Unit D124 Fountain Hills, AZ	2.0	2.0	987	$3,500	$3.55	43d	1	0.89mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $269,900 Active 35 DOM
2. 2026-06-17
   days on market $269,900 Active 34 DOM
3. 2026-06-16
   days on market $269,900 Active 33 DOM
4. 2026-06-15
   days on market $269,900 Active 32 DOM
5. 2026-06-13
   days on market $269,900 Active 30 DOM
6. 2026-06-09
   days on market $269,900 Active 26 DOM
7. 2026-06-08
   days on market $269,900 Active 25 DOM
8. 2026-06-07
   days on market $269,900 Active 24 DOM
9. 2026-06-04
   days on market $269,900 Active 21 DOM
10. 2026-06-03
    days on market $269,900 Active 20 DOM
11. 2026-06-02
    days on market $269,900 Active 19 DOM
12. 2026-06-01
    days on market $269,900 Active 18 DOM
13. 2026-05-31
    days on market $269,900 Active 17 DOM
14. 2026-05-13
    listed $269,900 Active 764-char remark
15. 2026-05-01
    historical
16. 2026-04-11
    price $270,000
17. 2026-03-13
    price $275,000
18. 2026-02-13
    price $295,000
19. 2026-01-08
    listed $300,000 Active
20. 2025-12-01
    historical
21. 2025-08-04
    listed $340,000 Active
22. 2025-08-01
    historical
23. 2025-06-05
    price $345,000
24. 2025-04-11
    listed $350,000 Active
25. 2024-06-18
    historical $2,000
26. 2024-04-15
    price $2,500
27. 2024-04-12
    listed $3,000
28. 2023-09-18
    historical $3,000
29. 2023-08-29
    listed $3,000
30. 2022-05-04
    soldstatus $308,000
31. 2018-12-06
    soldstatus $150,000
32. 2017-10-27
    soldstatus $150,000
33. 2015-11-06
    soldstatus $130,000 Closed
34. 2015-11-05
    soldstatus $130,000
35. 2015-11-03
    status Pending
36. 2015-10-26
    listed $139,900 Active
37. 2008-05-28
    historical
38. 2008-05-28
    soldstatus $198,900
39. 2008-03-20
    listed $209,900

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $1,781 · $148/mo
• Expected delta: +$801/yr (+$67/mo · 81.8%)

ⓘ 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 3 d/yr ≥113°F today · 6 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: $29,092
• − Mortgage interest: −$15,119
• − Property taxes: −$980
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,327
• − Management: −$2,327
• − HOA: −$3,780
• − Depreciation: −$7,852
• Taxable loss: −$4,643
• Est. tax savings @ 24.0%: +$1,114
• After-tax cash flow: $1,003/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

+28.6% since first listed

26 events — show timeline

• 2026-05-13 Listed $269,900 ARMLS
• 2026-05-01 Listing Removed — ARMLS
• 2026-04-11 Price Changed $270,000 ARMLS
• 2026-03-13 Price Changed $275,000 ARMLS
• 2026-02-13 Price Changed $295,000 ARMLS
• 2026-01-08 Listed $300,000 ARMLS
• 2025-12-01 Listing Removed — ARMLS
• 2025-08-04 Listed $340,000 ARMLS
• 2025-08-01 Listing Removed — ARMLS
• 2025-06-05 Price Changed $345,000 ARMLS
• 2025-04-11 Listed $350,000 ARMLS
• 2024-06-18 Rental Removed $2,000 Avail
• 2024-04-15 Price Changed $2,500 Avail
• 2024-04-12 Listed for Rent $3,000 Avail
• 2023-09-18 Rental Removed $3,000 Avail
• 2023-08-29 Listed for Rent $3,000 Avail
• 2022-05-04 Sold (Public Records) $308,000 Public Records
• 2018-12-06 Sold (Public Records) $150,000 Public Records
• 2017-10-27 Sold (Public Records) $150,000 Public Records
• 2015-11-06 Sold (MLS) $130,000 ARMLS
• 2015-11-05 Sold (Public Records) $130,000 Public Records
• 2015-11-03 Pending — ARMLS
• 2015-10-26 Listed $139,900 ARMLS
• 2008-05-28 Sold (MLS) $198,900 ARMLS
• 2008-05-28 Listing Removed — ARMLS
• 2008-03-20 Listed $209,900 ARMLS

Property tax history

+0.2%/yr

Latest (2025): $980 · -3.7% YoY. Source: county tax records.