210 Bluewater Dr · Bluewater, AZ 85344

$150,000

3 bd · 3.0 ba · 1,440 sqft · Manufactured · 34 Days on market

Built 1970 Fair condition 0.25 ac lot $104/sqft · at area comps Est $156k · at est.

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Why this score? — see what drove the B- 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 +29.9/30.0
• DSCR +10.0/10.0
• ARV discount +9.2/15.0
• 1% rule +8.4/10.0
• 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

on lease land. .. No HOA NO Property Tax 2 HUGE LOTS with GARAGE, HOME & STUDIO APT - all on an incredibly low $50 TOTAL fixed lease! This unique property offers exceptional space, flexibility, and value. The main home has is beautifully maintained, Enjoy a bright, open feel throughout, plus an 8x27 screened-in Arizona sunroom--perfect for relaxing or entertaining. The property is equipped with built in appliances. Outdoor features are just as impressive with RV parking and full hookups, plenty of room for a large boat, and ample additional parking. The fenced side yard is nicely landscaped with mature plants and a variety of citrus trees, creating a private outdoor retreat complete with porch area. Bonus studio apartment (approx. 12x32 / 384 sq ft) includes its own bathroom plus laundry/kitchen area--ideal for guests, rental income, or extended family. A rare opportunity with space, upgrades, and income potential!

Key facts

• Built in appliances
• Rv parking
• Landscaped side yard

Tags

• HUGE LOTS
• SCREENED-IN ARIZONA SUNROOM
• BUILT IN APPLIANCES
• RV PARKING
• FULL HOOKUPS
• LANDSCAPED SIDE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.

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 $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $50k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.34% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.83%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $156,031
• List price: $150,000
• Delta: -3.87%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
337 N Moonlight Dr	0.33mi	3/2.0	1,440 (0%)	1mo	$190,000	$132	80
232 E Riverfront Dr	0.19mi	4/2.0 (+1)	1,340 (-7%)	2mo	$350,000	$261	70
409 N Misty Ln	0.34mi	3/2.0	1,500 (+4%)	5mo	$122,000	$81	69
249 Bluewater Dr	0.16mi	3/2.0	1,568 (+9%)	10mo	$157,308	$100	66
405 N Stardust Ln	0.35mi	3/2.0	1,372 (-5%)	10mo	$130,000	$95	63
245 E Riverfront Dr	0.15mi	2/2.0 (-1)	1,344 (-7%)	13mo	$275,000	$205	62
338 N Moonlight Dr	0.35mi	2/2.0 (-1)	1,296 (-10%)	6mo	$132,000	$102	53
473 Bluewater Dr	0.64mi	2/2.0 (-1)	1,440 (0%)	13mo	$143,500	$100	50
484 E Riverfront Dr	0.70mi	3/2.0	1,392 (-3%)	15mo	$415,000	$298	46
435 Bluewater Dr	0.38mi	3/2.0	1,592 (+11%)	18mo	$145,000	$91	45
414 E Riverfront Dr	0.46mi	4/2.0 (+1)	1,344 (-7%)	19mo	$389,999	$290	43
452 E Riverfront Dr	0.58mi	3/2.0	1,248 (-13%)	8mo	$289,000	$232	40

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: 6.7%
• Equity multiple: 1.26×
• Total profit: $11,021
• Equity at exit: $22,365

10-year hold

• IRR: 16.1%
• Equity multiple: 2.31×
• Total profit: $55,171
• Equity at exit: $12,969

Cash invested: $42,000 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,014 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $554

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 67%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-19
   price $150,000 935-char remark

   Show marketing remark (935 chars)

   on lease land. .. No HOA NO Property Tax 2 HUGE LOTS with GARAGE, HOME & STUDIO APT - all on an incredibly low $50 TOTAL fixed lease! This unique property offers exceptional space, flexibility, and value. The main home has is beautifully maintained, Enjoy a bright, open feel throughout, plus an 8x27 screened-in Arizona sunroom--perfect for relaxing or entertaining. The property is equipped with built in appliances. Outdoor features are just as impressive with RV parking and full hookups, plenty of room for a large boat, and ample additional parking. The fenced side yard is nicely landscaped with mature plants and a variety of citrus trees, creating a private outdoor retreat complete with porch area. Bonus studio apartment (approx. 12x32 / 384 sq ft) includes its own bathroom plus laundry/kitchen area--ideal for guests, rental income, or extended family. A rare opportunity with space, upgrades, and income potential!

2. 2026-05-05
   price $175,000 935-char remark

   Show marketing remark (935 chars)

   on lease land. .. No HOA NO Property Tax 2 HUGE LOTS with GARAGE, HOME & STUDIO APT - all on an incredibly low $50 TOTAL fixed lease! This unique property offers exceptional space, flexibility, and value. The main home has is beautifully maintained, Enjoy a bright, open feel throughout, plus an 8x27 screened-in Arizona sunroom--perfect for relaxing or entertaining. The property is equipped with built in appliances. Outdoor features are just as impressive with RV parking and full hookups, plenty of room for a large boat, and ample additional parking. The fenced side yard is nicely landscaped with mature plants and a variety of citrus trees, creating a private outdoor retreat complete with porch area. Bonus studio apartment (approx. 12x32 / 384 sq ft) includes its own bathroom plus laundry/kitchen area--ideal for guests, rental income, or extended family. A rare opportunity with space, upgrades, and income potential!

3. 2026-04-17
   listed $200,000 Active 935-char remark

   Show marketing remark (935 chars)

   on lease land. .. No HOA NO Property Tax 2 HUGE LOTS with GARAGE, HOME & STUDIO APT - all on an incredibly low $50 TOTAL fixed lease! This unique property offers exceptional space, flexibility, and value. The main home has is beautifully maintained, Enjoy a bright, open feel throughout, plus an 8x27 screened-in Arizona sunroom--perfect for relaxing or entertaining. The property is equipped with built in appliances. Outdoor features are just as impressive with RV parking and full hookups, plenty of room for a large boat, and ample additional parking. The fenced side yard is nicely landscaped with mature plants and a variety of citrus trees, creating a private outdoor retreat complete with porch area. Bonus studio apartment (approx. 12x32 / 384 sq ft) includes its own bathroom plus laundry/kitchen area--ideal for guests, rental income, or extended family. A rare opportunity with space, upgrades, and income potential!

4. 2014-01-17
   listed $89,500

ⓘ 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: $24,164
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − Depreciation: −$4,364
• Taxable income: $4,532
• Est. tax owed @ 24.0%: −$1,088
• After-tax cash flow: $5,563/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

This property requires moderate renovations to improve its condition and increase its value. Focus on exterior painting, flooring, and HVAC upgrades.

Repairs flagged

• Minor Paint — Scuff marks on walls
• Minor Flooring — Some wear on carpet
• Minor Exterior Siding — Weathered and discolored

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Replace carpet — Improves comfort and reduces maintenance
• Both Upgrade HVAC units — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Scuff marks on walls	Minor	$500–3,000
Flooring · Some wear on carpet	Minor	$500–3,000
Exterior Siding · Weathered and discolored	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Replace carpet — Improves comfort and reduces maintenance ↑
• Both Upgrade HVAC units — Improves comfort and energy efficiency ↑

ⓘ 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

+67.6% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $150,000 LHAR
• 2026-05-05 Price Changed $175,000 LHAR
• 2026-04-17 Listed $200,000 LHAR
• 2014-01-17 Listed $89,500 LHAR