2023 E Morrow Ave #46 · Kingman, AZ 86409

$50,000

3 bd · 2.0 ba · 896 sqft · Manufactured · 395 Days on market

Built 2001 Average condition 1,250 sqft lot $56/sqft · 63% below area ↓ 52% since listing

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.6/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

- Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

Key facts

• Shaded parking
• Centrally located
• Fully landscaped

Tags

• CENTRALLY LOCATED
• CORNER LOT
• SHADED PARKING
• FULLY LANDSCAPED
• DECK WITH PRIVACY SCREEN
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $875 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.3% 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.

Location & tenants

• 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 flat; 643 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.3% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 395 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 395 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.09% ✓
• Cap rate: 27.28%
• Cash-on-cash: 74.96%
• DSCR: 4.34
• GRM: 2.7

CMA / ARV

• ARV (median comp): $133,377
• List price: $50,000
• Delta: -62.51%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2023 E Morrow Ave #29	0.00mi	2/1.0 (-1)	980 (+9%)	16mo	$62,000	$63	62

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: 71.8%
• Equity multiple: 4.11×
• Total profit: $43,582
• Equity at exit: $7,455

10-year hold

• IRR: 74.9%
• Equity multiple: 7.72×
• Total profit: $94,050
• Equity at exit: $4,323

Cash invested: $14,000 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $875

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 38%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3530 N Lomita St Unit C Kingman, AZ	2.0	2.0	920	$1,400	$1.52	21d	1	0.54mi
3736 N Roosevelt St Kingman, AZ	3.0	2.0	1093	$1,425	$1.30	43d	1	0.68mi
3849 N Roosevelt St Kingman, AZ	2.0	1.0	856	$950	$1.11	21d	1	0.68mi
2469 Armour Ave Apt 2 Kingman, AZ	2.0	2.0	830	$1,224	$1.47	21d	1	0.83mi
969 Kenwood Ave Kingman, AZ	2.0	2.0	992	$2,250	$2.27	43d	1	0.99mi
980 Astor Ave Unit 2 Kingman, AZ	2.0	2.0	1100	$1,350	$1.23	13d	1	1.03mi
936 Astor Ave Unit 1 Kingman, AZ	2.0	2.0	1100	$1,400	$1.27	43d	1	1.06mi
924 Astor Ave Unit 2 Kingman, AZ	2.0	2.0	1100	$1,650	$1.50	21d	1	1.06mi

Listing history 24 events

1. 2026-06-18
   status $50,000 Pending 395 DOM
2. 2026-06-18
   days on market $50,000 Active 395 DOM
3. 2026-06-17
   days on market $50,000 Active 394 DOM
4. 2026-06-16
   days on market $50,000 Active 393 DOM
5. 2026-06-15
   days on market $50,000 Active 392 DOM
6. 2026-06-14
   days on market $50,000 Active 390 DOM
7. 2026-06-13
   days on market $50,000 Active 389 DOM
8. 2026-06-10
   days on market $50,000 Active 387 DOM
9. 2026-06-09
   days on market $50,000 Active 386 DOM
10. 2026-06-08
    days on market $50,000 Active 385 DOM
11. 2026-06-07
    days on market $50,000 Active 384 DOM
12. 2026-06-05
    days on market $50,000 Active 381 DOM
13. 2026-06-03
    days on market $50,000 Active 380 DOM
14. 2026-06-02
    days on market $50,000 Active 379 DOM
15. 2026-06-01
    days on market $50,000 Active 378 DOM
16. 2026-05-31
    days on market $50,000 Active 377 DOM
17. 2026-05-30
    days on market $50,000 Active 376 DOM
18. 2026-05-05
    price $50,000 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

19. 2026-03-05
    price $75,000 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

20. 2025-09-23
    price $77,500 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

21. 2025-08-01
    price $85,000 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

22. 2025-06-24
    price $95,000 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

23. 2025-06-02
    price $99,000 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

24. 2025-05-20
    listed $105,000 Active 135-char remark

    Show marketing remark (135 chars)

    - Centrally located - Well kept park - Corner lot - Shaded parking - Fully landscaped - Deck with privacy screen - Shed -Move in ready

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 8 d/yr ≥100°F today · 20 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: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$1,455
• Taxable income: $10,313
• Est. tax owed @ 24.0%: −$2,475
• After-tax cash flow: $8,020/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.

Condition & rehab AI · 13 photos

Average 55/100 Cosmetic rehab

This manufactured home is in average condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — dated and could be replaced
• Minor bathroom fixtures — dated and could be updated

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both replace carpet — improves comfort and value
• Both update kitchen cabinets — modernizes and increases value
• Both update bathroom fixtures — modernizes and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and could be replaced	Minor	$500–3,000
bathroom fixtures · dated and could be updated	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both replace carpet — improves comfort and value ↑
• Both update kitchen cabinets — modernizes and increases value ↑
• Both update bathroom fixtures — modernizes and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Kingman

• Score: 79/100
• State rank: #5
• US rank: #2014

Category grades

Amenities F Commute A+ Cost of living A+ Crime C- Employment C- Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingman, AZ
• County: Mohave County · 181,906 people
• City population: 60,489
• 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

-52.4% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $50,000 WARDEX
• 2026-03-05 Price Changed $75,000 WARDEX
• 2025-09-23 Price Changed $77,500 WARDEX
• 2025-08-01 Price Changed $85,000 WARDEX
• 2025-06-24 Price Changed $95,000 WARDEX
• 2025-06-02 Price Changed $99,000 WARDEX
• 2025-05-20 Listed $105,000 WARDEX