1470 Sunrise Dr

Lake Havasu City, AZ 86404

$120,000B

2 bd · 1.0 ba · 784 sqft · Built 1988 · Manufactured · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,541/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$324
• Net cashflow: $388/mo
• Annual: $4,657/yr
• Cap rate: 10.17%
• Cash-on-cash: 13.86%
• DSCR: 1.62
• 1% rule: 1.28%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $120k. Condition is rated fair.
• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 76 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#124 in AZ) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: health & safety C-, amenities F, commute F.
• Lake Havasu Unified District (4368) (urban): math 39% / reading 41% proficiency, ranked #66 of 249 in AZ (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 414 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• Mohave County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.2% vs local median 3.0% in Lake Havasu City — 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.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: kitchen appliances — outdated and worn
• Minor: bathroom fixtures — basic and worn