350 Lee Ave #3 · Bullhead City, AZ 86429

$25,000

3 bd · 2.0 ba · 1,008 sqft · Manufactured · 306 Days on market

Built 1986 3,570 sqft lot ↓ 38% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0
• Schools +1.6/10.0

Listing remarks

Handyman special. Sold as-is. 55+ Carefree Resort. The community includes a pool, community center, & laundry. Only minutes to Laughlin casinos, and the Colorado River! Residents myst be approved by Carefree management during inspection period. The lease on lot is $555 per month, sewer is $36.26, water is $15.50, trash is $10.00, electric is sub-metered at the lot and the above charges are added to the monthly lot rent charges

Key facts

• Colorado river
• Community center
• 3,570 sq ft lot

Tags

• COMMUNITY CENTER
• COLORADO RIVER

Property features AI

Finance

• Other: Private maintained paved road
• HOA & community: Community clubhouse; Community pool; Senior community; Land is leased

Exterior

• Utilities: Electricity available; Public sewer and septic tank
• Home design: Manufactured home (double wide); Residential property; Fixer condition; R1MH zoning (single family mobile home); Entry includes breakfast bar and kitchen features
• Construction: Metal roof
• Exterior features: Covered patio; Deck; Patio; Chain link and wood fencing; Shed(s); Community pool; Community spa/hot tub; Has view

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: Two three-quarter bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s); Wall/window unit(s)
• Interior features: Breakfast bar; Ceiling fan(s); Laminate counters; Walk-in closet(s); Accessible full bath
• Laundry & utility: Electric dryer hookup; Water softener; Water heater

🏷️ Possibly a rental listed for sale. The $25,000 price doesn't fit this home's estimated sale value (~$69,552) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 71.7% vs local median 3.7% in Bullhead City — 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 64/100 on livability (#103 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Bullhead City School District (4378) (town): math 16% / reading 22% proficiency, ranked #189 of 249 in AZ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.6%/yr); 326 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• This rent runs 40% of the median local income ($59k/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 $173 of loan paydown is wiped out by about $750 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 + 0.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 306 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 306 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 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.77% ✓
• Cap rate: 71.66%
• Cash-on-cash: 233.47%
• DSCR: 11.39
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $69,552
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 Lee Ave #2	0.02mi	2/1.0 (-1)	1,008 (0%)	8mo	$70,000	$69	84
350 Lee Ave #38	0.09mi	2/1.0 (-1)	1,056 (+5%)	12mo	$38,000	$36	69

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.00×
• Total profit: $77,024
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 23.41×
• Total profit: $156,880
• Equity at exit: $2,162

Cash invested: $7,000 (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 86429

• Home prices YoY: -1.8%
• Rents YoY: -0.6%
• Active inventory: 326
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,943 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $1,362

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 25%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Lee Ave Bullhead City, AZ	2.0	1.0	675	$1,100	$1.63	13d	1	0.07mi
2447 Rio Dr Unit 1545726P Bullhead City, AZ	3.0	2.0	1399	$3,090	$2.21	13d	1	0.10mi
441 Moser Ave Bullhead City, AZ	1.0–3.0	1.0–2.0	883	$1,800	$2.04	13d	3	0.43mi
455 Moser Ave Bullhead City, AZ	2.0	1.0	850	$1,700	$2.00	13d	1	0.44mi
188 Sundance Shores Dr Laughlin, NV	4.0	2.0	1482	$1,600	$1.08	8d	1	0.84mi
168 Sundance Shores Dr Laughlin, NV	3.0	2.0	1482	$1,400	$0.94	44d	1	0.85mi
2022 Merrill Ln Bullhead City, AZ	3.0	2.5–3.0	1366	$1,500	$1.10	13d	2	1.40mi
2022 Merrill Ln Bullhead City, AZ	2.0–3.0	2.0–3.0	1193	$1,500	$1.26	21d	2	1.40mi
1368 Harker Ct Bullhead City, AZ	2.0	2.0	1464	$2,000	$1.37	13d	1	1.47mi

Listing history 21 events

1. 2026-06-18
   days on market $25,000 Active 306 DOM
2. 2026-06-17
   days on market $25,000 Active 305 DOM
3. 2026-06-16
   days on market $25,000 Active 304 DOM
4. 2026-06-15
   days on market $25,000 Active 303 DOM
5. 2026-06-14
   days on market $25,000 Active 301 DOM
6. 2026-06-13
   days on market $25,000 Active 300 DOM
7. 2026-06-10
   days on market $25,000 Active 298 DOM
8. 2026-06-09
   days on market $25,000 Active 297 DOM
9. 2026-06-08
   days on market $25,000 Active 296 DOM
10. 2026-06-07
    days on market $25,000 Active 295 DOM
11. 2026-06-05
    days on market $25,000 Active 292 DOM
12. 2026-06-02
    days on market $25,000 Active 290 DOM
13. 2026-06-01
    days on market $25,000 Active 289 DOM
14. 2026-05-31
    days on market $25,000 Active 288 DOM
15. 2026-05-30
    days on market $25,000 Active 287 DOM
16. 2026-05-23
    status Active
17. 2026-05-05
    status Pending
18. 2026-02-16
    price $25,000
19. 2025-10-24
    price $30,000
20. 2025-10-03
    price $35,000
21. 2025-07-30
    listed $40,000 Active

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥114°F today · 16 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: $23,311
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − Depreciation: −$727
• Taxable income: $16,954
• Est. tax owed @ 24.0%: −$4,069
• After-tax cash flow: $12,274/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.

Schools (NCES district)

• District: Bullhead City School District (4378)
• NCES district ID: 0401500
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 22% ▼ -6.00%
• Median HH income: $37,109
• Composite: 15.83/100
• National rank: #9263
• State rank: #189 of 249 in AZ

Livability — Bullhead City

• Score: 64/100
• State rank: #103
• US rank: #14458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bullhead City, AZ
• County: Mohave County · 181,906 people
• City population: 43,354
• Metro: Lake Havasu City-Kingman, AZ
• Population (ZIP): 8,619
• Household income: $58,906
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 318.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 11% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 4% Lithuanian 4% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

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: ▼ -5.51%
• Current HPI: 302.1306
• Rent YoY: ▼ -0.56%
• 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

-37.5% since first listed

6 events — show timeline

• 2026-05-23 Relisted — WARDEX
• 2026-05-05 Pending — WARDEX
• 2026-02-16 Price Changed $25,000 WARDEX
• 2025-10-24 Price Changed $30,000 WARDEX
• 2025-10-03 Price Changed $35,000 WARDEX
• 2025-07-30 Listed $40,000 WARDEX