Real Estate Investing in Mormon Lake, Arizona (86038)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 86038 (Mormon Lake, 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: 85.4% of homes vacant — above national norms.
• 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 Mormon Lake, AZ (86038)?
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Market Analysis: 86038 Mormon Lake
From an investor standpoint, ZIP 86038 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $393K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 86038 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 86038 among AZ's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 86038 includes headwinds that any investor should price in. Income distribution skews lower than Mormon Lake averages, and tenant stability requires active management.
The 86038 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Mormon Lake:
Market Trends
Home Value History (with trend line)
📊 How Does 86038 Compare?
| Metric | 86038 | Mormon Lake | Flagstaff, AZ | Arizona |
|---|---|---|---|---|
| Home Value | $393,049 | $393,049 | N/A | $419,643 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 6.5% |
| Avg Rent | $1,764 | $1,764 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 86038 (Mormon Lake, AZ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $393,049 |
| Monthly Rent | $1,764 |
| Price-to-Rent | 18.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +1.6% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.5%). 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 86038
Population: 210
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
How tight is the rental market in Mormon Lake, AZ?
Vacancy in Mormon Lake, AZ is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,764/mo.
What are home prices like in Mormon Lake, AZ?
Homes in Mormon Lake, AZ typically sell near $393K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
How much is rent in Mormon Lake, AZ?
Rental rates in Mormon Lake, AZ average $1,764/mo. Tenant demand and $393K home values make the yield look reasonable by investor standards.
Is Mormon Lake, AZ good for landlords?
Mormon Lake, AZ operates under AZ law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
Does Mormon Lake, AZ make sense for an investment property?
Yes - Mormon Lake, AZ a 3.0/5 investability score. With $393K home prices against $1,764/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 86038 now. You don’t know where it ranks.
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How 86038 ranks in Flagstaff, AZ
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