360 E Riverfront Dr · Bluewater, AZ 85344

$200,000

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 84 Days on market

Built 1978 Fair condition 4,050 sqft lot $133/sqft · 9% below area Est $220k · 9% 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 +18.7/30.0
• ARV discount +11.6/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy riverfront living in Bluewater Lagoon with this 3 bedroom, 2 bathroom, 1,500 sq. ft. site-built home. Located on leased land, this community offers a swimming pool, launch ramp, beach areas, and secured entrance. The home is ready for your personal updates, featuring spacious rooms and picturesque views. Perfect for year-round enjoyment--spend summers on the water and explore desert off-road trails in spring and winter. Parker, Arizona is your destination for active living and relaxation.

Key facts

• Launch ramp
• Swimming pool
• Secured entrance

Tags

• RIVERFRONT LIVING
• SWIMMING POOL
• LAUNCH RAMP
• SECURED ENTRANCE
• PICTURESQUE VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (0.0% below list).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 9.9% in Bluewater — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 65/100 on livability (#81 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, employment D+, schools F.
• Parker Unified School District (4510) (town): math 18% / reading 18% proficiency, ranked #200 of 249 in AZ (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 147 active listings in the ZIP; 92 units permitted in La Paz County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• La Paz County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Recommended offer $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.00% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $220,191
• List price: $200,000
• Delta: -9.17%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 N Moonlight Dr	0.16mi	2/2.0 (-1)	1,335 (-11%)	2mo	$90,000	$67	68
221 E Riverfront Dr	0.36mi	3/2.5	1,537 (+2%)	17mo	$195,000	$127	63
401 N Moonlight Dr	0.07mi	3/2.0	1,300 (-13%)	16mo	$220,000	$169	61

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-19,808
• Equity at exit: $29,821

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-939
• Equity at exit: $17,292

Cash invested: $56,000 (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 85344

• Active inventory: 147
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,999 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $197

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 85%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $200,000 Active 84 DOM
2. 2026-06-17
   days on market $200,000 Active 83 DOM
3. 2026-06-16
   days on market $200,000 Active 82 DOM
4. 2026-06-15
   days on market $200,000 Active 81 DOM
5. 2026-06-14
   days on market $200,000 Active 79 DOM
6. 2026-06-13
   days on market $200,000 Active 78 DOM
7. 2026-06-10
   days on market $200,000 Active 76 DOM
8. 2026-06-09
   days on market $200,000 Active 75 DOM
9. 2026-06-08
   days on market $200,000 Active 74 DOM
10. 2026-06-07
    days on market $200,000 Active 73 DOM
11. 2026-06-05
    days on market $200,000 Active 70 DOM
12. 2026-06-03
    days on market $200,000 Active 69 DOM
13. 2026-06-02
    days on market $200,000 Active 68 DOM
14. 2026-06-01
    days on market $200,000 Active 67 DOM
15. 2026-05-31
    days on market $200,000 Active 66 DOM
16. 2026-05-30
    days on market $200,000 Active 65 DOM
17. 2026-03-25
    listed $200,000 Active 499-char remark

    Show marketing remark (499 chars)

    Enjoy riverfront living in Bluewater Lagoon with this 3 bedroom, 2 bathroom, 1,500 sq. ft. site-built home. Located on leased land, this community offers a swimming pool, launch ramp, beach areas, and secured entrance. The home is ready for your personal updates, featuring spacious rooms and picturesque views. Perfect for year-round enjoyment--spend summers on the water and explore desert off-road trails in spring and winter. Parker, Arizona is your destination for active living and relaxation.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,993
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,919
• − Management: −$1,919
• − Depreciation: −$5,818
• Taxable loss: −$867
• Est. tax savings @ 24.0%: +$208
• After-tax cash flow: $2,577/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 · 12 photos

Fair 45/100 Moderate rehab

The home requires extensive repairs and maintenance, including a new roof, repairs to the exterior walls, flooring, interior walls, and HVAC system. These repairs will significantly improve the home's condition and increase its value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Moderate exterior walls — The exterior walls are in fair condition, with some discoloration and wear visible.
• Major flooring — The flooring appears to be in poor condition, with visible cracks and wear.
• Major interior walls — The interior walls appear to be in poor condition, with visible discoloration and wear.
• Major HVAC system — The HVAC system appears to be in poor condition, with visible rust and wear.

Value-add opportunities

• Both repair roof — A repaired roof will improve the overall condition of the home and increase its value.
• Both paint exterior walls — Painting the exterior walls will improve the curb appeal and increase the home's value.
• Both repair flooring — Repairing the flooring will improve the home's condition and increase its value.
• Both repair interior walls — Repairing the interior walls will improve the home's condition and increase its value.
• Both repair HVAC system — Repairing the HVAC system will improve the home's comfort and energy efficiency and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior walls · The exterior walls are in fair condition, with some discoloration and wear visible.	Moderate	$3,000–15,000
flooring · The flooring appears to be in poor condition, with visible cracks and wear.	Major	$15,000–50,000
interior walls · The interior walls appear to be in poor condition, with visible discoloration and wear.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be in poor condition, with visible rust and wear.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$63,000–215,000

Value-add ROI direction

• Both repair roof — A repaired roof will improve the overall condition of the home and increase its value. ↑
• Both paint exterior walls — Painting the exterior walls will improve the curb appeal and increase the home's value. ↑
• Both repair flooring — Repairing the flooring will improve the home's condition and increase its value. ↑
• Both repair interior walls — Repairing the interior walls will improve the home's condition and increase its value. ↑
• Both repair HVAC system — Repairing the HVAC system will improve the home's comfort and energy efficiency and increase its 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: Parker Unified School District (4510)
• NCES district ID: 0405980
• Math proficiency: 18% ▼ -10.00%
• Reading proficiency: 18% ▼ -7.00%
• Median HH income: $34,354
• Composite: 14.76/100
• National rank: #9392
• State rank: #200 of 249 in AZ

Livability — Bluewater

• Score: 65/100
• State rank: #81
• US rank: #12872

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bluewater, AZ
• Population (ZIP): 9,069

Population outlook (La Paz County) Hauer SSP2

• Today (2025): 18,409 people
• By 2030: 17,592 · -4.4%
• By 2040: 16,600 · -9.8%
• By 2050: 16,328 · -11.3%
• By 2075: 17,075 · -7.2%
• By 2100: 17,042 · -7.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 40% Hispanic / Latino 34% Native American 23% Two or more races 19% Asian 2%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Slovak 1% Lithuanian 1% Portuguese 1%
• Foreign-born: 10% · Canada
• Languages at home: 74% English-only · Spanish 21% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · La Paz

• 2024 margin: Solid R (+44.2) · D 27.6% · R 71.8%
• 2008→2024 swing: -15.7pp toward R · 2008: -28.5pp · 2024: -44.2pp
• All cycles: 2024: R+44.2 2020: R+38.8 2016: R+41.8 2012: R+32.2 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.38%
• Current HPI: 198.2271
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-03-25 Listed $200,000 LHAR