10401 N Saguaro Blvd #323 · Fountain Hills, AZ 85268

$299,000

2 bd · 2.0 ba · 1,104 sqft · Condo public records · 97 Days on market

Built 1998 $271/sqft · at area comps Est $304k · at est. $395/mo HOA · 15% 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 +11.8/30.0
• ARV discount +8.2/15.0
• 1% rule +3.9/10.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• 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

Enjoy effortless Fountain Hills living in this move-in ready 2-bedroom, 2-bath condo in Little Fountains. Step inside to a light & bright great-room floorplan. You'll love the modern kitchen with white cabinets, granite counters, & stainless steel appliances overlooking the great room for easy living. Both bedrooms are ensuite, split for privacy, and open to the patio with McDowell Mountain views. This unit also features updated paint, blinds, baseboards, modern lighting, and new ceiling fans throughout. Unit 323 is a top floor unit - but with fewer stairs to access thanks to the hillside setting. In-unit washer/dryer. Enjoy the sparkling community pool, spa and fitness center. This lock-and-leave home is ready for you to relax, unwind, and start enjoying all Fountain Hills has to offer!

Key facts

• Ensuite bedrooms
• Great room floorplan
• White cabinets

Tags

• GREAT ROOM FLOORPLAN
• MODERN KITCHEN
• WHITE CABINETS
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES
• ENSUITE BEDROOMS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-80 ($-958/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (11.4% below list).
• Recommended offer: $265k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $9k 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 97 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $136k; list at $299k implies a 120% 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 $265,010 (11.4% 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 97 days. Have you received any prior offers? Is the seller open to a 11% 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: 0.89% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 9.4

CMA / ARV

• ARV (median comp): $303,878
• List price: $299,000
• Delta: -1.61%
• 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: -20.5%
• Equity multiple: 0.30×
• Total profit: $-58,582
• Equity at exit: $44,582

10-year hold

• IRR: -19.0%
• Equity multiple: 0.07×
• Total profit: $-77,451
• Equity at exit: $25,852

Cash invested: $83,720 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,650 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$86 /mo · $1,030/yr
• Insurance: −$125
• HOA: −$395
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-80

Break-even live

Break-even rent $2,751

Max offer price $284,896

Occupancy floor 98%

Sensitivity live

Price	-10% $89	-5% $5	+0% $-80	+5% $-164	+10% $-249
Rent	-10% $-289	-5% $-185	+0% $-80	+5% $25	+10% $130
Rate	-1.0pp $71	-0.5pp $-4	base $-80	+0.5pp $-157	+1.0pp $-236

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10401 N Saguaro Blvd #220 Fountain Hills, AZ	2.0	2.0	1104	$1,675	$1.52	22d	1	0.03mi
10401 N Saguaro Blvd #135 Fountain Hills, AZ	2.0	2.0	991	$3,300	$3.33	44d	1	0.03mi
10401 N Saguaro Blvd #235 Fountain Hills, AZ	2.0	2.0	1000	$3,500	$3.50	44d	1	0.03mi
10401 N Saguaro Blvd #121 Fountain Hills, AZ	1.0	1.0	703	$2,600	$3.70	17d	1	0.03mi
9253 N Firebrick Dr #114 Fountain Hills, AZ	2.0	2.0	1064	$1,950	$1.83	44d	1	0.91mi
17343 E Quail Ridge Dr Fountain Hills, AZ	2.0	2.0	1323	$5,000	$3.78	44d	1	0.97mi
12005 N Panorama Dr Fountain Hills, AZ	1.0–2.0	1.0	830	$2,850	$3.43	24d	2	0.97mi
111652 N Saguaro Blvd Fountain Hills, AZ	2.0	2.0	1500	$2,299	$1.53	44d	1	0.97mi
12237 N Gambel Dr Fountain Hills, AZ	2.0	2.0	1417	$2,590	$1.83	25d	1	1.05mi
12050 N Panorama Dr #208 Fountain Hills, AZ	2.0	2.0	1399	$2,430	$1.74	44d	1	1.10mi
16812 E Lamplighter Way #10 Fountain Hills, AZ	2.0	2.0	1393	$4,200	$3.02	44d	1	1.21mi
16724 E Gunsight Dr #219 Fountain Hills, AZ	2.0	1.5	1017	$2,595	$2.55	6d	1	1.36mi
16657 E Gunsight Dr Fountain Hills, AZ	2.0	2.0	865	$1,645	$1.90	12d	1	1.37mi
12213 N Chama Dr Unit 2 Fountain Hills, AZ	2.0	2.0	1250	$2,999	$2.40	44d	1	1.41mi
12213 N Chama Dr Unit 2 Fountain Hills, AZ	2.0	2.0	1200	$2,700	$2.25	6d	1	1.41mi
16715 E El Lago Blvd #214 Fountain Hills, AZ	2.0	2.0	1085	$1,700	$1.57	25d	1	1.46mi
16800 E El Lago Blvd Fountain Hills, AZ	2.0	2.0	1348	$3,350	$2.49	6d	2	1.47mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $299,000 Active 97 DOM
2. 2026-06-17
   days on market $299,000 Active 96 DOM
3. 2026-06-16
   days on market $299,000 Active 95 DOM
4. 2026-06-15
   days on market $299,000 Active 94 DOM
5. 2026-06-13
   days on market $299,000 Active 92 DOM
6. 2026-06-09
   days on market $299,000 Active 88 DOM
7. 2026-06-08
   days on market $299,000 Active 87 DOM
8. 2026-06-07
   days on market $299,000 Active 86 DOM
9. 2026-06-04
   days on market $299,000 Active 83 DOM
10. 2026-06-03
    days on market $299,000 Active 82 DOM
11. 2026-06-02
    days on market $299,000 Active 81 DOM
12. 2026-06-01
    days on market $299,000 Active 80 DOM
13. 2026-05-31
    days on market $299,000 Active 79 DOM
14. 2026-05-04
    price $299,000 806-char remark

    Show marketing remark (806 chars)

    Enjoy effortless Fountain Hills living in this move-in ready 2-bedroom, 2-bath condo in Little Fountains. Step inside to a light & bright great-room floorplan. You'll love the modern kitchen with white cabinets, granite counters, & stainless steel appliances overlooking the great room for easy living. Both bedrooms are ensuite, split for privacy, and open to the patio with McDowell Mountain views. This unit also features updated paint, blinds, baseboards, modern lighting, and new ceiling fans throughout. Unit 323 is a top floor unit - but with fewer stairs to access thanks to the hillside setting. In-unit washer/dryer. Enjoy the sparkling community pool, spa and fitness center. This lock-and-leave home is ready for you to relax, unwind, and start enjoying all Fountain Hills has to offer!

15. 2026-03-13
    listed $309,000 Active 806-char remark

    Show marketing remark (806 chars)

    Enjoy effortless Fountain Hills living in this move-in ready 2-bedroom, 2-bath condo in Little Fountains. Step inside to a light & bright great-room floorplan. You'll love the modern kitchen with white cabinets, granite counters, & stainless steel appliances overlooking the great room for easy living. Both bedrooms are ensuite, split for privacy, and open to the patio with McDowell Mountain views. This unit also features updated paint, blinds, baseboards, modern lighting, and new ceiling fans throughout. Unit 323 is a top floor unit - but with fewer stairs to access thanks to the hillside setting. In-unit washer/dryer. Enjoy the sparkling community pool, spa and fitness center. This lock-and-leave home is ready for you to relax, unwind, and start enjoying all Fountain Hills has to offer!

16. 2016-08-24
    soldstatus $136,000
17. 2000-10-03
    soldstatus $125,000

ⓘ 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: $1,030 · $86/mo
• Projected year-2 tax: $1,973 · $164/mo
• Expected delta: +$943/yr (+$79/mo · 91.6%)

ⓘ 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: $31,801
• − Mortgage interest: −$16,749
• − Property taxes: −$1,030
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,544
• − Management: −$2,544
• − HOA: −$4,740
• − Depreciation: −$8,698
• Taxable loss: −$5,999
• Est. tax savings @ 24.0%: +$1,440
• After-tax cash flow: $482/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

+139.2% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $299,000 ARMLS
• 2026-03-13 Listed $309,000 ARMLS
• 2016-08-24 Sold (Public Records) $136,000 Public Records
• 2000-10-03 Sold (Public Records) $125,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,030 · -3.7% YoY. Source: county tax records.