2898 E Lass Ave · New Kingman-Butler, AZ 86409

$70,000

2 bd · 2.0 ba · 660 sqft · Land public records · 218 Days on market

Built 1964 6,098 sqft lot $106/sqft · 8% below area Est $76k · 8% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautifully maintained 1964 single-wide manufactured home featuring 2 bedrooms, 2 bathrooms, and just over 600 sqft of comfortable living space (plus additions for extra room!). The newly updated kitchen shines with modern finishes, fresh cabinetry, and stylish countertops—perfect for home-cooked meals and entertaining. Enjoy the privacy and space of a fully fenced lot, ideal for pets, gardening, or simply relaxing outdoors. The additions provide flexible living or storage options, enhancing both comfort and functionality.

Key facts

• Fully fenced lot
• 6,098 sq ft lot
• Built 1964

Tags

• NEWLY UPDATED KITCHEN
• FULLY FENCED LOT
• FLEXIBLE LIVING OPTIONS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $70k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 4.3% in New Kingman-Butler — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Kingman Unified School District (79598) (town): math 19% / reading 24% proficiency, ranked #179 of 249 in AZ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 643 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.3% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.73% ✓
• Cap rate: 15.59%
• Cash-on-cash: 33.20%
• DSCR: 2.48
• GRM: 4.8

CMA / ARV

• ARV (median comp): $75,847
• List price: $70,000
• Delta: -7.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.02×
• Total profit: $20,002
• Equity at exit: $10,437

10-year hold

• IRR: 31.7%
• Equity multiple: 3.52×
• Total profit: $49,474
• Equity at exit: $6,052

Cash invested: $19,600 (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 86409

• Rents YoY: 0.3%
• Active inventory: 643
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,210 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$17 /mo · $205/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $542

Break-even live

Break-even rent $523

Max offer price $70,000

Occupancy floor 50%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2840 E Leroy Ave Kingman, AZ	1.0	1.0	728	$1,000	$1.37	43d	1	0.17mi
3600 E Thompson Ave Kingman, AZ	1.0	1.0	600	$800	$1.33	44d	1	1.29mi

Listing history 18 events

1. 2026-06-18
   days on market $70,000 Active 218 DOM
2. 2026-06-17
   days on market $70,000 Active 217 DOM
3. 2026-06-16
   days on market $70,000 Active 216 DOM
4. 2026-06-15
   days on market $70,000 Active 215 DOM
5. 2026-06-14
   days on market $70,000 Active 213 DOM
6. 2026-06-13
   days on market $70,000 Active 212 DOM
7. 2026-06-10
   days on market $70,000 Active 210 DOM
8. 2026-06-09
   days on market $70,000 Active 209 DOM
9. 2026-06-08
   days on market $70,000 Active 208 DOM
10. 2026-06-07
    days on market $70,000 Active 207 DOM
11. 2026-06-05
    days on market $70,000 Active 204 DOM
12. 2026-06-03
    days on market $70,000 Active 203 DOM
13. 2026-06-02
    days on market $70,000 Active 202 DOM
14. 2026-06-01
    days on market $70,000 Active 201 DOM
15. 2026-05-31
    days on market $70,000 Active 200 DOM
16. 2026-05-30
    days on market $70,000 Active 199 DOM
17. 2025-11-12
    listed $70,000 Active 549-char remark

    Show marketing remark (549 chars)

    Step into this beautifully maintained 1964 single-wide manufactured home featuring 2 bedrooms, 2 bathrooms, and just over 600 sqft of comfortable living space (plus additions for extra room!). The newly updated kitchen shines with modern finishes, fresh cabinetry, and stylish countertops—perfect for home-cooked meals and entertaining. Enjoy the privacy and space of a fully fenced lot, ideal for pets, gardening, or simply relaxing outdoors. The additions provide flexible living or storage options, enhancing both comfort and functionality.

18. 2023-05-01
    soldstatus $60,000

ⓘ 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: $205 · $17/mo
• Projected year-2 tax: $462 · $38/mo
• Expected delta: +$257/yr (+$21/mo · 125.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥100°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: $14,515
• − Mortgage interest: −$3,921
• − Property taxes: −$205
• − Insurance: −$350
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$2,036
• Taxable income: $5,680
• Est. tax owed @ 24.0%: −$1,363
• After-tax cash flow: $5,144/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: Kingman Unified School District (79598)
• NCES district ID: 0400295
• Math proficiency: 19% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,760
• Composite: 17.87/100
• National rank: #9002
• State rank: #179 of 249 in AZ

Livability — New Kingman-Butler

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: New Kingman-Butler, AZ
• County: Mohave County · 181,906 people
• Metro: Lake Havasu City-Kingman, AZ
• Population (ZIP): 30,365
• Household income: $50,852
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 688.0

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% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 3% Slovak 2% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -158.90%
• Current HPI: 280.1884
• Rent YoY: ▲ 0.33%
• 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

+16.7% since first listed

2 events — show timeline

• 2025-11-12 Listed $70,000 WARDEX
• 2023-05-01 Sold (Public Records) $60,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $205 · +1.7% YoY. Source: county tax records.