3003 Hualapai Mtn Rd #20 Rd

Kingman, AZ 86401

$32,500B-

1 bd · 1.0 ba · 480 sqft · Built 1973 · Land · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,014/mo
• Mortgage (P&I): −$170
• Tax + insurance: −$54
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $576/mo
• Annual: $6,914/yr
• Cap rate: 27.57%
• Cash-on-cash: 75.98%
• DSCR: 4.38
• 1% rule: 3.12%
• Cash to close: $9,100

Investor read

• This is a 1-bed/1.0-bath land listed at $32k.
• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $225 of loan paydown is wiped out by about $975 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+.
• 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 soft (-0.3%/yr); 960 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 21 sale attempts since 8y 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.
• Current owner paid $12k; list at $32k implies a 171% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 3→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 27.6% 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

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.