12336 E Old Mule Dr · Kingman, AZ 86401

$185,000

3 bd · 2.0 ba · 1,849 sqft · SingleFamily public records · 206 Days on market

Built 2008 1.12 ac lot

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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 +13.0/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic deal on this 3 bedroom, 2 bathroom home on over an acre lot. Septic to be connected at close of escrow. Electricity will be to subdivision in 2026. This home is a fixer upper with seller financing options available.

Key facts

• 1.12 acre lot
• 2 garage spots
• Built 2008

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: 2 covered parking spaces; 2-car garage
• Utilities: Shared well for water; Septic tank sewer; Utilities: see remarks
• Home design: Single-family residence; Fee simple ownership; Property listed as fixer; Desert and mountain views; Road surface: dirt
• Construction: Brick veneer, stucco, and wood frame construction; Painted exterior; Tile and rolled/hot mop roofing
• Exterior features: Natural desert front and back; Adjacent to wash; Dirt front and back; County-maintained road

Interior

• Bedrooms: Up to 3 bedrooms (possible)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Cooling: see remarks; Heating: see remarks or none
• Interior features: Breakfast bar; Dual-pane windows; Fireplace; Other interior features (see remarks)
• Laundry & utility: Laundry inside with washer/dryer hookup only; Laundry details may include additional remarks

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-10 ($-121/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (13.2% below list).
• Recommended offer: $161k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.6% in Kingman — 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 79/100 on livability (#5 in AZ, #2,014 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Owens School District No.6 (4373) (rural): math 25% / reading 25% proficiency, ranked #142 of 249 in AZ (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Owens Elementary School (math 24% / reading 24%, 12 students, 75% FRL) — zoned schools average 75% FRL vs 54% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.3%/yr); 965 active listings in the ZIP; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Mohave County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $100k; list at $185k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,562 (13.2% 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 206 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.32×
• Total profit: $-35,299
• Equity at exit: $27,584

10-year hold

• IRR: -21.5%
• Equity multiple: 0.04×
• Total profit: $-49,649
• Equity at exit: $15,995

Cash invested: $51,800 (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 86401

• Home prices YoY: -33.8%
• Rents YoY: -0.3%
• Active inventory: 965
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,606 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-10

Break-even live

Break-even rent $1,618

Max offer price $183,545

Occupancy floor 96%

Sensitivity live

Price	-10% $118	-5% $54	+0% $-10	+5% $-74	+10% $-138
Rent	-10% $-137	-5% $-73	+0% $-10	+5% $53	+10% $117
Rate	-1.0pp $83	-0.5pp $37	base $-10	+0.5pp $-58	+1.0pp $-107

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $185,000 Active 206 DOM
2. 2026-06-18
   days on market $185,000 Active 203 DOM
3. 2026-06-17
   days on market $185,000 Active 202 DOM
4. 2026-06-16
   days on market $185,000 Active 201 DOM
5. 2026-06-15
   days on market $185,000 Active 200 DOM
6. 2026-06-14
   days on market $185,000 Active 198 DOM
7. 2026-06-13
   days on market $185,000 Active 197 DOM
8. 2026-06-10
   days on market $185,000 Active 195 DOM
9. 2026-06-09
   days on market $185,000 Active 194 DOM
10. 2026-06-08
    days on market $185,000 Active 193 DOM
11. 2026-06-07
    days on market $185,000 Active 192 DOM
12. 2026-06-02
    days on market $185,000 Active 187 DOM
13. 2026-06-01
    days on market $185,000 Active 186 DOM
14. 2026-05-31
    days on market $185,000 Active 185 DOM
15. 2026-05-30
    days on market $185,000 Active 184 DOM
16. 2026-01-17
    status Active
17. 2026-01-08
    historical Under Contract Accepting Backups
18. 2026-01-07
    price $185,000
19. 2025-11-21
    listed $190,000 Active
20. 2025-05-31
    historical Active Under Contract
21. 2025-01-15
    status Pending
22. 2025-01-15
    status Pending
23. 2024-08-28
    listed $190,000 Active
24. 2024-08-28
    listed $190,000 Active
25. 2023-04-28
    soldstatus $100,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,267
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$5,382
• Taxable loss: −$3,260
• Est. tax savings @ 24.0%: +$782
• After-tax cash flow: $662/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: Owens School District No.6 (4373)
• NCES district ID: 0405730
• Math proficiency: 25% ▲ 25.00%
• Reading proficiency: 25% ▲ 25.00%
• Median HH income: $46,415
• Composite: 21.72/100
• National rank: #8267
• State rank: #142 of 249 in AZ

Livability — Kingman

• Score: 79/100
• State rank: #5
• US rank: #2014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mohave County · 181,906 people
• City population: 60,489
• Metro: Lake Havasu City-Kingman, AZ
• Population (ZIP): 30,124
• Household income: $66,129
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 985.0

Population outlook (Mohave County) Hauer SSP2

• Today (2025): 209,184 people
• By 2030: 209,674 · +0.2%
• By 2040: 205,897 · -1.6%
• By 2050: 196,810 · -5.9%
• By 2075: 169,454 · -19.0%
• By 2100: 136,630 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Lithuanian 4% Slovak 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Mohave

• 2024 margin: Solid R (+55.8) · D 21.8% · R 77.6%
• 2008→2024 swing: -22.9pp toward R · 2008: -32.9pp · 2024: -55.8pp
• All cycles: 2024: R+55.8 2020: R+51.3 2016: R+51.5 2012: R+42.6 2008: R+32.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.30%
• Current HPI: 251.8208
• Rent YoY: ▼ -0.28%
• Metro: Lake Havasu City-Kingman, 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

+85.0% since first listed

10 events — show timeline

• 2026-01-17 Relisted — ARMLS
• 2026-01-08 Contingent — ARMLS
• 2026-01-07 Price Changed $185,000 ARMLS
• 2025-11-21 Listed $190,000 ARMLS
• 2025-05-31 Contingent — WARDEX
• 2025-01-15 Pending — WARDEX
• 2025-01-15 Pending — ARMLS
• 2024-08-28 Listed $190,000 WARDEX
• 2024-08-28 Listed $190,000 ARMLS
• 2023-04-28 Sold (Public Records) $100,000 Public Records

Property tax history

+14.7%/yr

Latest (2025): $86 · +4.6% YoY. Source: county tax records.