2725 E Neal Ave · New Kingman-Butler, AZ 86409

$184,900

2 bd · 1.5 ba · 1,184 sqft · SingleFamily public records · 17 Days on market

Built 1979 0.28 ac lot $156/sqft · 13% below area Est $212k · 13% under

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Why this score? — see what drove the D- 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 +13.2/15.0
• Cash flow +11.5/30.0
• DSCR +3.4/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has so much potential with a little imagination. 1184 sf and the double lot it's got lots of opportunity. 2 bedrooms, 1.5 baths and a larger two car garage. Room to build an RV Garage. Room for a pool. The half bath is a shower and a sink. It has an added family room and an enclosed back patio. making it very spacious. Alley behind home to make a rear access to the lot. It needs a handyman or a great home for flipping. Seller wiil not be making any repairs selling As Is.

Key facts

• Updated hvac system
• Newer roof
• Newer water heater

Tags

• NEWER ROOF
• UPDATED HVAC SYSTEM
• NEWER WATER HEATER
• UPGRADED ELECTRICAL PANEL
• REFRESHED KITCHEN
• UPDATED CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-62 ($-749/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (27.3% below list).
• Recommended offer: $134k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.3% in New Kingman-Butler — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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; 643 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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 32% 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 $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 17 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,479 (27.3% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.73% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• GRM: 11.5

CMA / ARV

• ARV (median comp): $211,900
• List price: $184,900
• Delta: -6.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2765 E Butler Ave	0.07mi	3/2.0 (+1)	1,173 (-1%)	0mo	$245,000	$209	88
2470 E Neal Ave	0.22mi	3/2.0 (+1)	1,163 (-2%)	1mo	$220,000	$189	79
2485 E Devlin Ave	0.28mi	3/2.0 (+1)	1,173 (-1%)	1mo	$245,000	$209	78
2445 E Hearne Ave	0.36mi	3/2.0 (+1)	1,187 (+0%)	2mo	$235,900	$199	74
2800 E Lass Ave	0.46mi	3/2.0 (+1)	1,187 (+0%)	4mo	$228,000	$192	68
3138 E John L Ave	0.55mi	3/2.0 (+1)	1,184 (0%)	4mo	$239,900	$203	64
3150 E Northfield Ave	0.57mi	3/2.0 (+1)	1,207 (+2%)	2mo	$198,000	$164	62
2381 E Neal Ave	0.71mi	3/2.0 (+1)	1,188 (+0%)	5mo	$222,000	$187	55
3066 E Leroy Ave	0.48mi	2/2.0	1,026 (-13%)	3mo	$223,000	$217	51
3178 E Northfield Ave	0.64mi	2/2.0	1,026 (-13%)	6mo	$222,500	$217	41
2990 E Ames Ave Ave	0.68mi	3/1.0 (+1)	1,068 (-10%)	6mo	$175,000	$164	40
3147 E Thompson Ave	0.66mi	3/2.0 (+1)	1,361 (+15%)	3mo	$229,000	$168	35

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: -21.4%
• Equity multiple: 0.28×
• Total profit: $-37,528
• Equity at exit: $27,569

10-year hold

• IRR: -21.8%
• Equity multiple: -0.00×
• Total profit: $-51,782
• Equity at exit: $15,987

Cash invested: $51,772 (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: 643
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$970
• Tax from tax record: −$78 /mo · $937/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-62

Break-even live

Break-even rent $1,424

Max offer price $173,880

Occupancy floor 100%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2381 E Butler Ave Kingman, AZ	2.0	2.0	1152	$1,200	$1.04	44d	1	0.30mi
2840 E Leroy Ave Kingman, AZ	1.0	1.0	728	$1,000	$1.37	44d	1	0.30mi
2915 E Thompson Ave Kingman, AZ	2.0	2.0	792	$1,150	$1.45	44d	1	0.42mi
2995 E Ames Ave Kingman, AZ	3.0	2.0	1221	$1,250	$1.02	44d	1	0.70mi
2658 E Punta Vista Kingman, AZ	3.0	2.0	1205	$1,700	$1.41	44d	1	1.03mi
3356 E El Tovar Ave Kingman, AZ	3.0	2.0	1356	$1,975	$1.46	44d	1	1.21mi
3953 Rex Allen Ct Kingman, AZ	3.0	2.0	1440	$1,750	$1.22	13d	1	1.33mi
2118 Gene Autry Dr Kingman, AZ	3.0	2.0	1494	$1,850	$1.24	44d	1	1.44mi
3849 N Roosevelt St Kingman, AZ	2.0	1.0	856	$950	$1.11	21d	1	1.45mi

Listing history 25 events

1. 2026-06-15
   status $184,900 Pending 17 DOM
2. 2026-06-15
   days on market $184,900 Active 17 DOM
3. 2026-06-14
   days on market $184,900 Active 15 DOM
4. 2026-06-13
   days on market $184,900 Active 14 DOM
5. 2026-06-10
   days on market $184,900 Active 12 DOM
6. 2026-06-09
   days on market $184,900 Active 11 DOM
7. 2026-06-08
   days on market $184,900 Active 10 DOM
8. 2026-06-07
   days on market $184,900 Active 9 DOM
9. 2026-06-05
   days on market $184,900 Active 6 DOM
10. 2026-06-03
    days on market $184,900 Active 5 DOM
11. 2026-06-02
    days on market $184,900 Active 4 DOM
12. 2026-06-01
    days on market $184,900 Active 3 DOM
13. 2026-05-31
    days on market $184,900 Active 2 DOM
14. 2026-05-30
    remarks 699-char remark
15. 2026-05-30
    pricestatusdays on marketlisting id $184,900 Active 1 DOM
16. 2026-03-31
    price $199,000
17. 2025-07-11
    listed $214,900 Active
18. 2022-06-03
    soldstatus $125,000 485-char remark

    Show marketing remark (485 chars)

    This home has so much potential with a little imagination. 1184 sf and the double lot it's got lots of opportunity. 2 bedrooms, 1.5 baths and a larger two car garage. Room to build an RV Garage. Room for a pool. The half bath is a shower and a sink. It has an added family room and an enclosed back patio. making it very spacious. Alley behind home to make a rear access to the lot. It needs a handyman or a great home for flipping. Seller wiil not be making any repairs selling As Is.

19. 2022-05-17
    soldstatus $125,000
20. 2022-05-16
    soldstatus $125,000
21. 2022-04-13
    listed $134,900 485-char remark

    Show marketing remark (485 chars)

    This home has so much potential with a little imagination. 1184 sf and the double lot it's got lots of opportunity. 2 bedrooms, 1.5 baths and a larger two car garage. Room to build an RV Garage. Room for a pool. The half bath is a shower and a sink. It has an added family room and an enclosed back patio. making it very spacious. Alley behind home to make a rear access to the lot. It needs a handyman or a great home for flipping. Seller wiil not be making any repairs selling As Is.

22. 2022-04-13
    listed $134,900

    Show marketing remark (485 chars)

    This home has so much potential with a little imagination. 1184 sf and the double lot it's got lots of opportunity. 2 bedrooms, 1.5 baths and a larger two car garage. Room to build an RV Garage. Room for a pool. The half bath is a shower and a sink. It has an added family room and an enclosed back patio. making it very spacious. Alley behind home to make a rear access to the lot. It needs a handyman or a great home for flipping. Seller wiil not be making any repairs selling As Is.

23. 1997-12-16
    soldstatus $66,500
24. 1994-11-08
    soldstatus $52,000
25. 1993-03-08
    soldstatus $52,000

ⓘ 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: $937 · $78/mo
• Projected year-2 tax: $1,220 · $102/mo
• Expected delta: +$283/yr (+$24/mo · 30.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥100°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: $16,137
• − Mortgage interest: −$10,357
• − Property taxes: −$937
• − Insurance: −$924
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$5,379
• Taxable loss: −$4,042
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $222/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: 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 — New Kingman-Butler

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: New Kingman-Butler, AZ
• County: Mohave County · 181,906 people
• 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

+282.7% since first listed

10 events — show timeline

• 2026-03-31 Price Changed $199,000 WARDEX
• 2025-07-11 Listed $214,900 WARDEX
• 2022-06-03 Sold (MLS) $125,000 WARDEX
• 2022-05-17 Sold (Public Records) $125,000 Public Records
• 2022-05-16 Sold (MLS) $125,000 LHAR
• 2022-04-13 Listed $134,900 LHAR
• 2022-04-13 Listed $134,900 WARDEX
• 1997-12-16 Sold (Public Records) $66,500 Public Records
• 1994-11-08 Sold (Public Records) $52,000 Public Records
• 1993-03-08 Sold (Public Records) $52,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $937 · +1.6% YoY. Source: county tax records.