9661 2nd St

Chloride, AZ 86431

$76,900B-

2 bd · 1.0 ba · 728 sqft · Built 1981 · Manufactured · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $957/mo
• Mortgage (P&I): −$403
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $224/mo
• Annual: $2,691/yr
• Cap rate: 9.79%
• Cash-on-cash: 12.50%
• DSCR: 1.56
• 1% rule: 1.24%
• Cash to close: $21,532

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $77k. Condition is rated fair.
• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($957 rent vs $77k).
• It's been on market 80 days — a 6% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($532 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#166 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: health & safety C-, schools D, crime F.
• 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: 37 active listings in the ZIP; 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.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $77k implies a 81% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 4→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 80 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 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?
• Crime grade is F 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — slight discoloration
• Minor: interior walls — existing paint