1475 King Dr · Lake Havasu City, AZ 86404

$189,900

2 bd · 2.0 ba · 1,536 sqft · Manufactured · 99 Days on market

Built 1990 Good condition $124/sqft · 33% above area Est $143k · 33% over ↓ 7% since listing

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Why this score? — see what drove the C 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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look at this FULLY FURNISHED well-maintained doublewide home located in Sunset Homes Mobile Home Park, a welcoming 55+ community in a fantastic location. This home sits on leased land, so there is no homeowners association, though the park does have community rules and regulations. Space rent: $625/month Total monthly (including water, sewer, and trash): $710.24 Home Features 2 Bedrooms / 2 Bathrooms, Spacious vaulted ceilings. Flexible floor plan allowing the guest bedroom to function as a second master suite with direct bathroom access, Indoor laundry, Trane furnace and A/C, Reverse osmosis system, Washer, dryer, and refrigerator included, Solar screens on windows for energy efficiency. Carport is 49' deep! Enjoy outdoor living with a covered patio and storage shed for extra space. Residents of Sunset Homes enjoy access to: Clubhouse w/ Heated pool and spa Pool tables Small library Horseshoe pits Monthly social activities Additional boat and RV storage is available on-site for a low monthly fee. For those who enjoy boating, fishing, or kayaking, this park is conveniently located near Mesquite Bay and the Windsor launch ramp, making it easy to enjoy the lake

Key facts

• Trane furnace
• A c
• Covered patio

Tags

• INDOOR LAUNDRY
• TRANE FURNACE
• A C
• REVERSE OSMOSIS SYSTEM
• COVERED PATIO
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.

Location & tenants

• 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).
• This rent runs 38% of the median local income ($73k/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 $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 99 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• 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.

Recommended offer $172,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $142,525
• List price: $189,900
• Delta: 33.24%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 King Dr	0.07mi	2/2.0	1,560 (+2%)	11mo	$200,000	$128	85
1435 Wagner Dr	0.17mi	2/2.0	1,512 (-2%)	12mo	$148,000	$98	80
1410 King Dr	0.06mi	2/2.0	1,344 (-12%)	3mo	$185,000	$138	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.66% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-4,089
• Equity at exit: $28,315

10-year hold

• IRR: 4.9%
• Equity multiple: 1.32×
• Total profit: $17,015
• Equity at exit: $16,419

Cash invested: $53,172 (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 86404

• Home prices YoY: -32.0%
• Rents YoY: 0.7%
• Active inventory: 414
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,296 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $501

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 73%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1790 Piper Bay Lake Havasu City, AZ	3.0	2.0	1550	$2,800	$1.81	43d	1	0.28mi
1942 Palo Verde Blvd N Lake Havasu City, AZ	3.0	2.0	1623	$3,500	$2.16	43d	1	0.58mi
1226 N Lake Havasu Ave Lake Havasu City, AZ	2.0	1.0	1300	$1,500	$1.15	13d	1	0.77mi
2010 Bombay Dr Lake Havasu City, AZ	3.0	2.0	1406	$2,500	$1.78	43d	1	0.82mi
1697 Cardinal Dr Lake Havasu City, AZ	3.0	2.0	1695	$2,195	$1.29	20d	1	0.84mi
1435 Beefeater Dr Lake Havasu City, AZ	3.0	2.0	1450	$2,300	$1.59	20d	1	0.87mi
2265 Malahini Dr Lake Havasu City, AZ	3.0	2.0	1437	$2,300	$1.60	43d	1	1.23mi
2086 Sandwood Dr Lake Havasu City, AZ	2.0	2.0	1123	$1,700	$1.51	44d	1	1.27mi
2231 Sandwood Dr Unit S2231-102 Lake Havasu City, AZ	1.0	1.0	1128	$1,150	$1.02	43d	1	1.40mi
2035 San Juan Dr Apt 203 Lake Havasu City, AZ	2.0	1.0	1200	$1,200	$1.00	43d	1	1.42mi
2240 Jacob Row Lake Havasu City, AZ	3.0	2.0	1956	$2,000	$1.02	13d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $189,900 Active 99 DOM
2. 2026-06-17
   days on market $189,900 Active 98 DOM
3. 2026-06-16
   days on market $189,900 Active 97 DOM
4. 2026-06-15
   days on market $189,900 Active 96 DOM
5. 2026-06-14
   days on market $189,900 Active 94 DOM
6. 2026-06-13
   days on market $189,900 Active 93 DOM
7. 2026-06-10
   days on market $189,900 Active 91 DOM
8. 2026-06-09
   days on market $189,900 Active 90 DOM
9. 2026-06-08
   days on market $189,900 Active 89 DOM
10. 2026-06-07
    days on market $189,900 Active 88 DOM
11. 2026-06-03
    days on market $189,900 Active 84 DOM
12. 2026-06-02
    days on market $189,900 Active 83 DOM
13. 2026-06-01
    days on market $189,900 Active 82 DOM
14. 2026-05-31
    days on market $189,900 Active 81 DOM
15. 2026-05-30
    days on market $189,900 Active 80 DOM
16. 2026-03-11
    listed $189,900 Active 1197-char remark

    Show marketing remark (1197 chars)

    Take a look at this FULLY FURNISHED well-maintained doublewide home located in Sunset Homes Mobile Home Park, a welcoming 55+ community in a fantastic location. This home sits on leased land, so there is no homeowners association, though the park does have community rules and regulations. Space rent: $625/month Total monthly (including water, sewer, and trash): $710.24 Home Features 2 Bedrooms / 2 Bathrooms, Spacious vaulted ceilings. Flexible floor plan allowing the guest bedroom to function as a second master suite with direct bathroom access, Indoor laundry, Trane furnace and A/C, Reverse osmosis system, Washer, dryer, and refrigerator included, Solar screens on windows for energy efficiency. Carport is 49' deep! Enjoy outdoor living with a covered patio and storage shed for extra space. Residents of Sunset Homes enjoy access to: Clubhouse w/ Heated pool and spa Pool tables Small library Horseshoe pits Monthly social activities Additional boat and RV storage is available on-site for a low monthly fee. For those who enjoy boating, fishing, or kayaking, this park is conveniently located near Mesquite Bay and the Windsor launch ramp, making it easy to enjoy the lake

17. 2024-04-04
    listed $204,900 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 5 d/yr ≥116°F today · 12 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: $27,550
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$5,524
• Taxable income: $3,182
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $5,252/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully furnished doublewide home in Sunset Homes Mobile Home Park is in good condition with minor repairs needed. It offers a good investment opportunity with potential for significant value increase through cosmetic updates.

Repairs flagged

• Minor Kitchen cabinets — Some wear and tear visible on the cabinets.
• Minor Living room carpet — Worn and could be replaced for a fresh look.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly improve the home's curb appeal and interior aesthetics.
• Both Replacing worn carpet — A fresh carpet can improve the home's overall appearance and comfort.
• Both Landscaping improvements — Enhanced landscaping can boost both resale and rental value by making the home more attractive and inviting.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Some wear and tear visible on the cabinets.	Minor	$500–3,000
Living room carpet · Worn and could be replaced for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly improve the home's curb appeal and interior aesthetics. ↑
• Both Replacing worn carpet — A fresh carpet can improve the home's overall appearance and comfort. ↑
• Both Landscaping improvements — Enhanced landscaping can boost both resale and rental value by making the home more attractive and inviting. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lake Havasu Unified District (4368)
• NCES district ID: 0404280
• Math proficiency: 39% ▼ -16.00%
• Reading proficiency: 41% ▼ -8.00%
• Median HH income: $43,993
• Composite: 33.92/100
• National rank: #5339
• State rank: #66 of 249 in AZ

Livability — Lake Havasu City

• Score: 63/100
• State rank: #124
• US rank: #15839

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Havasu City, AZ
• County: Mohave County · 181,906 people
• City population: 62,596
• Metro: Lake Havasu City-Kingman, AZ
• Population (ZIP): 19,234
• Household income: $72,910
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 343.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Portuguese 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -189.23%
• Current HPI: 402.8832
• Rent YoY: ▲ 0.66%
• 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

-7.3% since first listed

2 events — show timeline

• 2026-03-11 Listed $189,900 LHAR
• 2024-04-04 Listed $204,900 LHAR