Real Estate Investing in Flagstaff, Arizona (86004)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 86004 (Flagstaff, 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: 15.9% of homes vacant — above national norms.
What’s happening in Flagstaff, AZ (86004)?
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Market Analysis: 86004 Flagstaff
ZIP 86004 inside Coconino County looks affordable on the surface — median value of $628K — but the discount exists for reasons that a careful buyer should understand before committing.
In practical terms, the numbers look inviting — $628K purchase price, 0.0% nominal cap — the work to hit that pro forma in 86004 is substantial and deserves full respect.
Regionally, 86004 sits on the difficult end of the AZ spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
A notable renter share of 37% in 86004 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 86004 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Flagstaff:
Property Strategy for 86004
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $320,994 | $1,850 | 4.1% | +11.4% | $320,994 |
| 2BR | $438,215 | $2,060 | 3.4% | +8.6% | $219,108 |
| 3BR | $608,423 | $2,510 | 3.0% | +10.0% | $202,808 |
| 4BR | $795,351 | $2,750 | 2.5% | +10.6% | $198,838 |
| 5BR | $1,021,027 | — | — | +11.3% | $204,205 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 86004 Compare?
| Metric | 86004 | Flagstaff | Flagstaff, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $628,139 | $290,116 | N/A | $419,643 |
| 5-Year CAGR | 5.6% | 5.4% | N/A | 6.5% |
| Avg Rent | $2,243 | $2,250 | N/A | - |
| Cap Rate | 2.8% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 86004 (Flagstaff, AZ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $628,139 |
| Monthly Rent | $2,243 |
| Price-to-Rent | 23.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +2.8% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | -1.8% ▼ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 86004
Population: 36,893
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
🎓 Schools in 86004
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are homes affordable in Flagstaff, AZ?
Expect median prices around $628K in Flagstaff, AZ. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
What kind of tenants rent in Flagstaff, AZ?
Tenant demand in Flagstaff, AZ is solid. The local workforce $2,243/mo rents across most rental classes.
Does Flagstaff, AZ make sense for an investment property?
Flagstaff, AZ reflects an investability rating of 3.0/5, with median home values near $628K and average rents around $2,243/mo. That combination puts it in the significant tier for investor interest.
Is rental property easy to operate in Flagstaff, AZ?
AZ law landlord-friendly for landlords, and Flagstaff inherits those rules. Investors should still review local ordinances for rental licensing.
Are there empty rentals in Flagstaff, AZ?
Flagstaff, AZ carries elevated vacancy risk. Expect steady absorption at market rents of $2,243/mo.
You know 86004 now. You don’t know where it ranks.
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How 86004 ranks in Flagstaff, AZ
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