2023 E Morrow Ave #3 · Kingman, AZ 86409

$120,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 164 Days on market

Built 1998 Good condition $99/sqft · 37% below area Est $192k · 37% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.6/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your Move in ready Beautiful renovated 3 bedroom 2 bath meticulous doublewide home in the "AAA Mobile Home Park" * ON LEASED LAND * a quiet and serene 55+ community that is ideal to live in, relocate to, retire at & more! Centrally Located close to the center of town right off Stockton Hill Road * minutes to shopping, restaurants, and medical facilities, This Cozy Cute home presents itself with an open living space that flows into a spacious well appointed kitchen. This kitchen has an Abundance of counter space, cabinets and a skylight for the perfect blend of natural light. A convenient indoor all electric laundry space & Split bedrooms for privacy, new vinyl flooring, fresh paint, beautiful crown molding throughout, and a NEW AC UNIT. The master bedroom has a walk in closet, the master bathroom has a single sink vanity with plenty of counter space and step in shower. Both guest bedrooms are spacious and next to a full guest bath. Walk out on to your covered front deck to enjoy the sunrise over the Hualapai mountains or Step out on your covered back patio to enjoy the outdoors. This back yard is fenced in with chain link and a partial cute picket fence. The back yard also has a storage/utility building for all your storage needs and a small fenced garden area. This home has covered parking for your vehicles and low maintance landscaping in both the front and back yard. This Beautiful clean home is one you don't want to miss. Must complete an application to the AAA park prior to purchase.

Key facts

• Renovated
• Centrally located
• Doublewide home

Tags

• RENOVATED
• DOUBLEWIDE HOME
• CENTRALLY LOCATED
• OPEN LIVING SPACE
• WELL APPOINTED KITCHEN
• ABUNDANCE OF COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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-, schools D+.
• 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; 647 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 40% of the median local income ($51k/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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $120k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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: 1.41% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.09%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (median comp): $191,745
• List price: $120,000
• Delta: -37.42%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4040 N Stardust Rd	0.71mi	3/2.0	1,391 (+14%)	10mo	$250,000	$180	34

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 · 0.33% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.25×
• Total profit: $8,412
• Equity at exit: $17,892

10-year hold

• IRR: 13.5%
• Equity multiple: 1.95×
• Total profit: $31,754
• Equity at exit: $10,375

Cash invested: $33,600 (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: 647
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,691 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $506

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 65%

Sensitivity live

Price	-10% $589	-5% $548	+0% $506	+5% $465	+10% $424
Rent	-10% $373	-5% $440	+0% $506	+5% $573	+10% $640
Rate	-1.0pp $567	-0.5pp $537	base $506	+0.5pp $475	+1.0pp $444

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3595 N Skylark Rd Kingman, AZ	3.0	2.0	1138	$1,475	$1.30	44d	1	0.24mi
3571 N Moore St Kingman, AZ	3.0	2.0	1288	$2,450	$1.90	44d	1	0.30mi
3838 Heritage Ln Kingman, AZ	2.0	2.0	1285	$1,650	$1.28	44d	1	0.40mi
2118 Gene Autry Dr Kingman, AZ	3.0	2.0	1494	$1,850	$1.24	44d	1	0.43mi
3695 N Adams St Kingman, AZ	3.0	2.0	1331	$1,600	$1.20	44d	1	0.46mi
3530 N Lomita St Unit C Kingman, AZ	2.0	2.0	920	$1,400	$1.52	22d	1	0.54mi
3953 Rex Allen Ct Kingman, AZ	3.0	2.0	1440	$1,750	$1.22	14d	1	0.54mi
3932 Lindsey Ave Kingman, AZ	3.0	2.0	1335	$1,500	$1.12	44d	1	0.67mi
3736 N Roosevelt St Kingman, AZ	3.0	2.0	1093	$1,425	$1.30	44d	1	0.68mi
3849 N Roosevelt St Kingman, AZ	2.0	1.0	856	$950	$1.11	22d	1	0.68mi
2469 Armour Ave Apt 2 Kingman, AZ	2.0	2.0	830	$1,224	$1.47	22d	1	0.83mi
969 Kenwood Ave Kingman, AZ	2.0	2.0	992	$2,250	$2.27	44d	1	0.99mi
969 Shadow Crest Cir Kingman, AZ	2.0	2.0	1239	$1,450	$1.17	44d	1	1.00mi
3423 N Fairfax St Kingman, AZ	3.0	2.0	1397	$1,700	$1.22	14d	1	1.02mi
980 Astor Ave Unit 2 Kingman, AZ	2.0	2.0	1100	$1,350	$1.23	14d	1	1.03mi
3418 Mulberry Ln Kingman, AZ	3.0	2.0	1397	$1,695	$1.21	14d	1	1.05mi
936 Astor Ave Unit 1 Kingman, AZ	2.0	2.0	1100	$1,400	$1.27	44d	1	1.06mi
924 Astor Ave Unit 2 Kingman, AZ	2.0	2.0	1100	$1,650	$1.50	22d	1	1.06mi
733 Pala Mesa Dr Kingman, AZ	3.0	2.0	1355	$1,650	$1.22	44d	1	1.23mi
915 E Berk Ave Kingman, AZ	3.0	2.0	1175	$1,495	$1.27	44d	1	1.25mi
732 Vista Grande Dr Kingman, AZ	3.0	2.0	1212	$1,600	$1.32	44d	1	1.28mi

Listing history 28 events

1. 2026-06-21
   days on market $120,000 Active 164 DOM
2. 2026-06-18
   days on market $120,000 Active 161 DOM
3. 2026-06-17
   days on market $120,000 Active 160 DOM
4. 2026-06-16
   days on market $120,000 Active 159 DOM
5. 2026-06-15
   days on market $120,000 Active 158 DOM
6. 2026-06-14
   days on market $120,000 Active 156 DOM
7. 2026-06-13
   days on market $120,000 Active 155 DOM
8. 2026-06-10
   days on market $120,000 Active 153 DOM
9. 2026-06-09
   days on market $120,000 Active 152 DOM
10. 2026-06-08
    days on market $120,000 Active 151 DOM
11. 2026-06-07
    days on market $120,000 Active 150 DOM
12. 2026-06-05
    days on market $120,000 Active 147 DOM
13. 2026-06-03
    days on market $120,000 Active 146 DOM
14. 2026-06-02
    days on market $120,000 Active 145 DOM
15. 2026-06-01
    days on market $120,000 Active 144 DOM
16. 2026-05-31
    days on market $120,000 Active 143 DOM
17. 2026-05-30
    days on market $120,000 Active 142 DOM
18. 2026-01-27
    price $120,000 1553-char remark

    Show marketing remark (1553 chars)

    Welcome to your Move in ready Beautiful renovated 3 bedroom 2 bath meticulous doublewide home in the "AAA Mobile Home Park" * ON LEASED LAND * a quiet and serene 55+ community that is ideal to live in, relocate to, retire at & more! Centrally Located close to the center of town right off Stockton Hill Road * minutes to shopping, restaurants, and medical facilities, This Cozy Cute home presents itself with an open living space that flows into a spacious well appointed kitchen. This kitchen has an Abundance of counter space, cabinets and a skylight for the perfect blend of natural light. A convenient indoor all electric laundry space & Split bedrooms for privacy, new vinyl flooring, fresh paint, beautiful crown molding throughout, and a NEW AC UNIT. The master bedroom has a walk in closet, the master bathroom has a single sink vanity with plenty of counter space and step in shower. Both guest bedrooms are spacious and next to a full guest bath. Walk out on to your covered front deck to enjoy the sunrise over the Hualapai mountains or Step out on your covered back patio to enjoy the outdoors. This back yard is fenced in with chain link and a partial cute picket fence. The back yard also has a storage/utility building for all your storage needs and a small fenced garden area. This home has covered parking for your vehicles and low maintance landscaping in both the front and back yard. This Beautiful clean home is one you don't want to miss. Must complete an application to the AAA park prior to purchase.

19. 2026-01-08
    listed $130,000 Active 1553-char remark

    Show marketing remark (1553 chars)

    Welcome to your Move in ready Beautiful renovated 3 bedroom 2 bath meticulous doublewide home in the "AAA Mobile Home Park" * ON LEASED LAND * a quiet and serene 55+ community that is ideal to live in, relocate to, retire at & more! Centrally Located close to the center of town right off Stockton Hill Road * minutes to shopping, restaurants, and medical facilities, This Cozy Cute home presents itself with an open living space that flows into a spacious well appointed kitchen. This kitchen has an Abundance of counter space, cabinets and a skylight for the perfect blend of natural light. A convenient indoor all electric laundry space & Split bedrooms for privacy, new vinyl flooring, fresh paint, beautiful crown molding throughout, and a NEW AC UNIT. The master bedroom has a walk in closet, the master bathroom has a single sink vanity with plenty of counter space and step in shower. Both guest bedrooms are spacious and next to a full guest bath. Walk out on to your covered front deck to enjoy the sunrise over the Hualapai mountains or Step out on your covered back patio to enjoy the outdoors. This back yard is fenced in with chain link and a partial cute picket fence. The back yard also has a storage/utility building for all your storage needs and a small fenced garden area. This home has covered parking for your vehicles and low maintance landscaping in both the front and back yard. This Beautiful clean home is one you don't want to miss. Must complete an application to the AAA park prior to purchase.

20. 2025-04-25
    price $130,000
21. 2025-03-23
    listed $135,500 Active
22. 2023-08-29
    soldstatus $75,500 Closed
23. 2023-07-16
    status Pending
24. 2023-06-23
    price $87,500
25. 2023-06-20
    price $88,500
26. 2023-06-01
    price $94,900
27. 2023-04-18
    price $99,900
28. 2023-03-04
    listed $105,000 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 4/10 Moderate FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 8 d/yr ≥100°F today · 20 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: $20,290
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,623
• − Management: −$1,623
• − Depreciation: −$3,491
• Taxable income: $4,431
• Est. tax owed @ 24.0%: −$1,063
• After-tax cash flow: $5,014/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 · 13 photos

Good 75/100 Cosmetic rehab

This move-in ready, renovated home in a quiet 55+ community offers a good condition with minimal repairs needed. A fresh coat of paint and new windows would significantly enhance its resale value.

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and value of the home.
• Resale Replace any damaged windows — New windows can improve energy efficiency and increase the home's value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and value of the home. ↑
• Resale Replace any damaged windows — New windows can improve energy efficiency and increase the home's value. ↑

ⓘ 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: 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 — 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

• Census place: Kingman, AZ
• County: Mohave County · 181,906 people
• City population: 60,489
• 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

+14.3% since first listed

11 events — show timeline

• 2026-01-27 Price Changed $120,000 WARDEX
• 2026-01-08 Listed $130,000 WARDEX
• 2025-04-25 Price Changed $130,000 WARDEX
• 2025-03-23 Listed $135,500 WARDEX
• 2023-08-29 Sold (MLS) $75,500 WARDEX
• 2023-07-16 Pending — WARDEX
• 2023-06-23 Price Changed $87,500 WARDEX
• 2023-06-20 Price Changed $88,500 WARDEX
• 2023-06-01 Price Changed $94,900 WARDEX
• 2023-04-18 Price Changed $99,900 WARDEX
• 2023-03-04 Listed $105,000 WARDEX