11937 E Cats Claw Trl

Kingman, AZ 86401

$145,000C+

3 bd · 2.0 ba · 1,216 sqft · Built 1999 · Land · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,613/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$99
• HOA: −$7
• Vac / Maint / Mgmt: −$339
• Net cashflow: $407/mo
• Annual: $4,885/yr
• Cap rate: 9.66%
• Cash-on-cash: 12.03%
• DSCR: 1.54
• 1% rule: 1.11%
• Cash to close: $40,600

Investor read

• This is a 3-bed/2.0-bath land listed at $145k.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• It's been on market 62 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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+.
• Owens School District No.6 (4373) (rural): math 25% / reading 25% proficiency, ranked #142 of 249 in AZ (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.3%/yr); 960 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.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% 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.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.