3640 E Shaeffer Ave · New Kingman-Butler, AZ 86409

$149,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 43 Days on market

Built 1966 5,600 sqft lot $139/sqft · 17% below area Est $180k · 17% under

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Why this score? — see what drove the C 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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and affordable 2-bedroom, 1-bath home offering 1,008 sq ft of comfortable living space perfect for a first-time buyer, downsizer, or investment opportunity. This well-maintained home features easy-care laminate flooring throughout, * * new lighting * * , and * * new interior doors and hardware * * , adding a fresh, updated feel. The open-concept layout seamlessly connects the kitchen, dining, and living areas, creating a functional and inviting space for everyday living and entertaining. Step outside to find a * * brand new privacy fence with drive-through RV gates * * , offering both security and convenience, along with ample RV parking for your toys, trailers, or extra vehicles. Don t miss this opportunity to own a move-in ready home packed with practical features and great usability!

Key facts

• New lighting
• Ample rv parking
• 5,600 sq ft lot

Tags

• NEW LIGHTING
• AMPLE RV PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 C — 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 36% 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 $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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $32k; list at $150k implies a 368% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 5→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.27%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $180,208
• List price: $149,900
• Delta: -16.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3765 E John L Ave	0.25mi	2/1.0	1,049 (-3%)	2mo	$126,000	$120	82
3549 E Hearne Ave	0.22mi	2/2.0	966 (-11%)	1mo	$210,000	$217	68
3715 E Northern Ave	0.26mi	2/2.0	966 (-11%)	4mo	$198,000	$205	63
3509 E Lum Ave	0.35mi	3/2.0 (+1)	1,175 (+9%)	3mo	$227,000	$193	58
3396 E Cane Dr	0.62mi	2/2.0	1,020 (-6%)	0mo	$215,000	$211	58
3675 E Ryan Ave	0.20mi	3/2.0 (+1)	1,235 (+14%)	2mo	$243,000	$197	57
3677 E Koval Dr	0.47mi	3/2.0 (+1)	1,208 (+12%)	1mo	$248,000	$205	49
3445 E Cane Dr	0.57mi	3/2.0 (+1)	1,205 (+12%)	3mo	$249,500	$207	43
3385 E Cane Dr	0.65mi	3/2.0 (+1)	1,205 (+12%)	1mo	$249,000	$207	41
3372 E Cane Dr	0.66mi	3/2.0 (+1)	1,205 (+12%)	1mo	$249,500	$207	40
3384 E Cane Dr	0.64mi	3/2.0 (+1)	1,205 (+12%)	4mo	$249,500	$207	39
3433 E Cane Dr	0.70mi	3/2.0 (+1)	1,205 (+12%)	4mo	$249,500	$207	36

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: -11.2%
• Equity multiple: 0.61×
• Total profit: $-16,579
• Equity at exit: $22,351

10-year hold

• IRR: -6.3%
• Equity multiple: 0.64×
• Total profit: $-14,958
• Equity at exit: $12,961

Cash invested: $41,972 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $184

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 83%

Sensitivity live

Price	-10% $288	-5% $236	+0% $184	+5% $132	+10% $81
Rent	-10% $62	-5% $123	+0% $184	+5% $245	+10% $306
Rate	-1.0pp $260	-0.5pp $222	base $184	+0.5pp $145	+1.0pp $106

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3665 E Koval Dr Kingman, AZ	3.0	2.0	1400	$1,665	$1.19	14d	1	0.48mi
3356 E El Tovar Ave Kingman, AZ	3.0	2.0	1356	$1,975	$1.46	44d	1	0.81mi
4839 E Blackhawk Dr Kingman, AZ	3.0	2.0	1500	$1,748	$1.17	14d	1	1.09mi
2915 E Thompson Ave Kingman, AZ	2.0	2.0	792	$1,150	$1.45	44d	1	1.39mi
4263 E Medicine Bend Rd Kingman, AZ	3.0	2.0	1482	$1,800	$1.21	44d	1	1.41mi
2995 E Ames Ave Kingman, AZ	3.0	2.0	1221	$1,250	$1.02	45d	1	1.41mi
2840 E Leroy Ave Kingman, AZ	1.0	1.0	728	$1,000	$1.37	44d	1	1.45mi

Listing history 22 events

1. 2026-06-18
   days on market $149,900 Active 43 DOM
2. 2026-06-17
   days on market $149,900 Active 42 DOM
3. 2026-06-16
   days on market $149,900 Active 41 DOM
4. 2026-06-15
   days on market $149,900 Active 40 DOM
5. 2026-06-14
   days on market $149,900 Active 38 DOM
6. 2026-06-13
   days on market $149,900 Active 37 DOM
7. 2026-06-10
   days on market $149,900 Active 35 DOM
8. 2026-06-09
   days on market $149,900 Active 34 DOM
9. 2026-06-08
   days on market $149,900 Active 33 DOM
10. 2026-06-07
    days on market $149,900 Active 32 DOM
11. 2026-06-05
    statusdays on market $149,900 Active 29 DOM
12. 2026-05-17
    status Pending 814-char remark

    Show marketing remark (814 chars)

    Charming and affordable 2-bedroom, 1-bath home offering 1,008 sq ft of comfortable living space perfect for a first-time buyer, downsizer, or investment opportunity. This well-maintained home features easy-care laminate flooring throughout, * * new lighting * * , and * * new interior doors and hardware * * , adding a fresh, updated feel. The open-concept layout seamlessly connects the kitchen, dining, and living areas, creating a functional and inviting space for everyday living and entertaining. Step outside to find a * * brand new privacy fence with drive-through RV gates * * , offering both security and convenience, along with ample RV parking for your toys, trailers, or extra vehicles. Don t miss this opportunity to own a move-in ready home packed with practical features and great usability!

13. 2026-04-28
    status Active 814-char remark

    Show marketing remark (814 chars)

    Charming and affordable 2-bedroom, 1-bath home offering 1,008 sq ft of comfortable living space perfect for a first-time buyer, downsizer, or investment opportunity. This well-maintained home features easy-care laminate flooring throughout, * * new lighting * * , and * * new interior doors and hardware * * , adding a fresh, updated feel. The open-concept layout seamlessly connects the kitchen, dining, and living areas, creating a functional and inviting space for everyday living and entertaining. Step outside to find a * * brand new privacy fence with drive-through RV gates * * , offering both security and convenience, along with ample RV parking for your toys, trailers, or extra vehicles. Don t miss this opportunity to own a move-in ready home packed with practical features and great usability!

14. 2026-04-24
    status Pending 814-char remark

    Show marketing remark (814 chars)

    Charming and affordable 2-bedroom, 1-bath home offering 1,008 sq ft of comfortable living space perfect for a first-time buyer, downsizer, or investment opportunity. This well-maintained home features easy-care laminate flooring throughout, * * new lighting * * , and * * new interior doors and hardware * * , adding a fresh, updated feel. The open-concept layout seamlessly connects the kitchen, dining, and living areas, creating a functional and inviting space for everyday living and entertaining. Step outside to find a * * brand new privacy fence with drive-through RV gates * * , offering both security and convenience, along with ample RV parking for your toys, trailers, or extra vehicles. Don t miss this opportunity to own a move-in ready home packed with practical features and great usability!

15. 2026-04-15
    listed $149,900 Active 814-char remark

    Show marketing remark (814 chars)

    Charming and affordable 2-bedroom, 1-bath home offering 1,008 sq ft of comfortable living space perfect for a first-time buyer, downsizer, or investment opportunity. This well-maintained home features easy-care laminate flooring throughout, * * new lighting * * , and * * new interior doors and hardware * * , adding a fresh, updated feel. The open-concept layout seamlessly connects the kitchen, dining, and living areas, creating a functional and inviting space for everyday living and entertaining. Step outside to find a * * brand new privacy fence with drive-through RV gates * * , offering both security and convenience, along with ample RV parking for your toys, trailers, or extra vehicles. Don t miss this opportunity to own a move-in ready home packed with practical features and great usability!

16. 2026-02-23
    price $144,900
17. 2026-02-03
    listed $149,900 Active
18. 2005-11-15
    soldstatus $32,000
19. 2002-12-30
    soldstatus $46,394
20. 2002-12-03
    soldstatus $46,394
21. 2001-03-29
    soldstatus $25,000
22. 1995-11-15
    soldstatus $33,611

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 5 d/yr ≥100°F today · 12 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: $18,533
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$4,361
• Taxable loss: −$188
• Est. tax savings @ 24.0%: +$45
• After-tax cash flow: $2,255/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

+346.0% since first listed

11 events — show timeline

• 2026-05-17 Pending — WARDEX
• 2026-04-28 Relisted — WARDEX
• 2026-04-24 Pending — WARDEX
• 2026-04-15 Listed $149,900 WARDEX
• 2026-02-23 Price Changed $144,900 WARDEX
• 2026-02-03 Listed $149,900 WARDEX
• 2005-11-15 Sold (Public Records) $32,000 Public Records
• 2002-12-30 Sold (Public Records) $46,394 Public Records
• 2002-12-03 Sold (Public Records) $46,394 Public Records
• 2001-03-29 Sold (Public Records) $25,000 Public Records
• 1995-11-15 Sold (Public Records) $33,611 Public Records

Property tax history

+2.1%/yr

Latest (2025): $292 · +1.6% YoY. Source: county tax records.