2401 W Route 66 · Flagstaff, AZ 86001

$217,000

2 bd · 2.0 ba · 840 sqft · Land public records · 38 Days on market

Built 1983

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.1/30.0
• 1% rule +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy mountain living in beautiful Flagstaff. Located along historic U. S. Route 66, this charming 3-bedroom, 1-bath home offers comfort, privacy, and access to excellent community amenities in a desirable 55+ neighborhood. The home features a bright and functional layout with a cozy wood-burning stove, perfect for enjoying Flagstaffs cool mountain evenings. The kitchen comes fully equipped with all appliances included, including a refrigerator, washer, and dryer, making this home move-in ready. Step outside to enjoy a private fenced yard, offering space to relax, garden, or entertain. A covered carport provides convenient parking and protection from the elements. Residents of the community enjoy access to fantastic amenities including a heated swimming pool, clubhouse, and fitness room, creating a welcoming and active lifestyle environment. Ideally located in the heart of Flagstaff, the home is just minutes from shopping, dining, outdoor recreation, and the campus of Northern Arizona University. This is a rare opportunity to own an affordable home in one of Arizona's most beautiful mountain towns. For Sale By Owner Contact George at 303-475-6384 Buyer agents welcome.

Key facts

• Two skylights
• Eastern exposure
• Double plain windows

Tags

• REMODELED MANUFACTURED HOME
• WALK-IN CLOSETS
• VAULTED CEILINGS
• TWO SKYLIGHTS
• EASTERN EXPOSURE
• DOUBLE PLAIN WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $217k.

Deal economics

• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (1.7% below list).
• Recommended offer: $183k (15.7% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.1% in Flagstaff — 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 61/100 on livability (#167 in AZ) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: schools C-, employment C-, crime D-.
• Flagstaff Unified District (4192) (urban): math 18% / reading 29% proficiency, ranked #158 of 249 in AZ (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 280 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 698 units permitted in Coconino County in 2024 (354 in 5+ unit buildings).
• This rent runs 40% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Coconino County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 45% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,862 (15.7% 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 38 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.98% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.04%
• DSCR: 0.73
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.55% rent growth · sell at horizon

5-year hold

• IRR: -33.0%
• Equity multiple: -0.05×
• Total profit: $-63,642
• Equity at exit: $32,355

10-year hold

• IRR: -66.4%
• Equity multiple: -0.72×
• Total profit: $-104,487
• Equity at exit: $18,762

Cash invested: $60,760 (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 86001

• Rents YoY: 0.6%
• Active inventory: 280
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,132 high
• Mortgage (P&I): −$1,138
• Tax from tax record: −$762 /mo · $9,143/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-372

Break-even live

Break-even rent $2,604

Max offer price $182,862

Occupancy floor —

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: $54,250
• Closing costs: $6,510
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2701 S Woody Mountain Rd Flagstaff, AZ	1.0–3.0	1.0–2.0	1078	$2,642	$2.45	43d	77	0.41mi
2292 S Alvan Clark Blvd Flagstaff, AZ	2.0–3.0	1.0–2.0	978	$1,473	$1.51	43d	12	0.58mi
1385 W University Ave Flagstaff, AZ	2.0	2.0	906	$1,725	$1.90	43d	3	0.82mi
1000 W Forest Meadows St Flagstaff, AZ	2.0	2.0	947	$1,925	$2.03	43d	1	0.94mi
927 W Forest Meadows St Flagstaff, AZ	1.0–2.0	1.0–2.0	958	$2,806	$2.93	43d	11	0.99mi
923 W University Ave Flagstaff, AZ	1.0–2.0	1.0–2.0	877	$2,304	$2.63	43d	36	1.10mi
1580 S Plaza Way Flagstaff, AZ	1.0–2.0	1.0–2.0	875	$2,455	$2.81	43d	12	1.12mi
800 W Forest Meadows St Flagstaff, AZ	1.0–3.0	1.0–2.0	847	$2,548	$3.01	43d	32	1.14mi
813 W University Ave Flagstaff, AZ	2.0	1.0–2.0	567	$1,840	$3.25	43d	1	1.18mi
1515 S Yale St Flagstaff, AZ	2.0	1.0–2.0	860	$1,740	$2.02	43d	6	1.19mi
700 W University Ave Flagstaff, AZ	2.0	1.0–2.0	675	$1,735	$2.57	43d	1	1.20mi
600 W University Heights Dr N Flagstaff, AZ	1.0–2.0	1.0–2.0	766	$2,254	$2.94	43d	4	1.42mi
3200 S Litzler Dr Unit 9-236 Flagstaff, AZ	2.0	2.0	776	$1,800	$2.32	43d	1	1.44mi
1200 S Riordan Ranch St Flagstaff, AZ	1.0	1.0	528	$1,525	$2.89	43d	1	1.46mi

Listing history 23 events

1. 2026-06-19
   days on market $217,000 Active 38 DOM
2. 2026-06-18
   days on market $217,000 Active 37 DOM
3. 2026-06-17
   days on market $217,000 Active 36 DOM
4. 2026-06-16
   days on market $217,000 Active 35 DOM
5. 2026-06-15
   days on market $217,000 Active 34 DOM
6. 2026-06-14
   days on market $217,000 Active 32 DOM
7. 2026-06-13
   days on market $217,000 Active 31 DOM
8. 2026-06-10
   days on market $217,000 Active 29 DOM
9. 2026-06-09
   days on market $217,000 Active 28 DOM
10. 2026-06-08
    days on market $217,000 Active 27 DOM
11. 2026-06-07
    days on market $217,000 Active 26 DOM
12. 2026-06-05
    days on market $217,000 Active 23 DOM
13. 2026-06-03
    days on market $217,000 Active 22 DOM
14. 2026-06-02
    days on market $217,000 Active 21 DOM
15. 2026-06-01
    days on market $217,000 Active 20 DOM
16. 2026-05-31
    days on market $217,000 Active 19 DOM
17. 2026-05-30
    days on market $217,000 Active 18 DOM
18. 2026-05-12
    listed $217,000 Active 1751-char remark
19. 2005-12-15
    soldstatus $6,600,000
20. 2003-04-14
    soldstatus $4,800,000
21. 2003-04-04
    soldstatus $2,900,000
22. 1998-11-04
    soldstatus $3,580,000
23. 1998-11-02
    soldstatus $3,580,000

ⓘ 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: $9,143 · $762/mo
• Projected year-2 tax: $9,143 · $762/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥86°F today · 18 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: $25,584
• − Mortgage interest: −$12,155
• − Property taxes: −$9,143
• − Insurance: −$1,882
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$6,313
• Taxable loss: −$8,003
• Est. tax savings @ 24.0%: +$1,921
• After-tax cash flow: $-2,549/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: Flagstaff Unified District (4192)
• NCES district ID: 0402860
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $53,510
• Composite: 21.11/100
• National rank: #8437
• State rank: #158 of 249 in AZ

Livability — Flagstaff

• Score: 61/100
• State rank: #167
• US rank: #18308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flagstaff, AZ
• County: Coconino County · 91,667 people
• City population: 91,667
• Metro: Flagstaff, AZ
• Population (ZIP): 37,312
• Household income: $64,626
• Rent vs Own: 63.2% rent · 36.8% own
• Severe rent burden: 3117.0

Population outlook (Coconino County) Hauer SSP2

• Today (2025): 150,645 people
• By 2030: 156,857 · +4.1%
• By 2040: 168,714 · +12.0%
• By 2050: 181,082 · +20.2%
• By 2075: 218,399 · +45.0%
• By 2100: 238,853 · +58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 62% Hispanic / Latino 15% Native American 12% Two or more races 9% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 6% · Canada, China, Jamaica
• Languages at home: 84% English-only · Spanish 8% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Coconino

• 2024 margin: D (+19.9) · D 59.2% · R 39.4% · Other 1.4%
• 2008→2024 swing: +2.9pp toward D · 2008: 17.0pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.1 2016: D+19.4 2012: D+14.9 2008: D+17.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -488.37%
• Current HPI: 393.2551
• Rent YoY: ▲ 0.55%
• Metro: Flagstaff, 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

-95.8% since first listed

7 events — show timeline

• 2026-06-04 Listed $150,000 ForSaleByOwner.com
• 2026-05-12 Listed $217,000 FSBO.com
• 2005-12-15 Sold (Public Records) $6,600,000 Public Records
• 2003-04-14 Sold (Public Records) $4,800,000 Public Records
• 2003-04-04 Sold (Public Records) $2,900,000 Public Records
• 1998-11-04 Sold (Public Records) $3,580,000 Public Records
• 1998-11-02 Sold (Public Records) $3,580,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $9,143 · +3.0% YoY. Source: county tax records.