Real Estate Investing in Forest Lakes, Arizona (85931)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 85931 (Forest Lakes, AZ)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 91.1% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 29.2 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Forest Lakes, AZ (85931)?
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Market Analysis: 85931 Forest Lakes
ZIP 85931 inside Coconino County looks affordable on the surface — median value of $552K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 85931 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Put differently, 85931 offers a low basis, the region around Forest Lakes has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A resilient renter share of 11% in 85931 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Forest Lakes:
Market Trends
Home Value History (with trend line)
📊 How Does 85931 Compare?
| Metric | 85931 | Forest Lakes | Flagstaff, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $551,809 | $551,809 | N/A | $419,643 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 6.5% |
| Avg Rent | $1,575 | $1,575 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 85931 (Forest Lakes, AZ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $551,809 |
| Monthly Rent | $1,575 |
| Price-to-Rent | 29.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 85931
Population: 225
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What is the average monthly rent in Forest Lakes, AZ?
Expect rents around $1,575/mo per month in Forest Lakes, AZ. With home values at $552K, the yield math works out to reasonable levels for rental investors.
What is the tenant pool like in Forest Lakes, AZ?
Expect a solid tenant pool in Forest Lakes, AZ. The rental market absorbs $1,575/mo rents without meaningful friction.
Does Forest Lakes, AZ favor landlords or tenants?
Forest Lakes, AZ operates under AZ law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
Is Forest Lakes, AZ suited for a house hack?
The a challenging house-hack environment in Forest Lakes, AZ reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How much should I expect to pay for a home in Forest Lakes, AZ?
Expect median prices around $552K in Forest Lakes, AZ. The market has run at a 0.0% 5-year CAGR, so entry costs have been reliable.
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