1535 Sierra Vista Dr · Bullhead City, AZ 86442

$410,000

None bd · None ba · 2,976 sqft · MultiFamily public records · 3 Days on market

Built 1985 6,534 sqft lot

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Great Investment opportunity. 4-plex income property. Each unit is 2 bedroom/1 bath, with living room, dining area, and kitchen that includes refrigerator , two lower level and two upper level units. Exterior recently painted, roof less than Two years old. .Centrally located Close to shopping, banks, restaurants and close proximity to Highway 95. 4-Plex next door also for sale 1545 Sierra Visa Dr

Key facts

• Kitchen
• Living room
• Dining area

Tags

• 4 PLEX INCOME PROPERTY
• LIVING ROOM
• DINING AREA
• KITCHEN
• REFRIGERATOR
• EXTERIOR RECENTLY PAINTED

Property features AI

Finance

• Other: Property located in Buena Vista subdivision; directions: Highway 95 to East on Ramar Rd to South on Sierra Vista (buildings on the right); Cross street: Ramar; Listing broker: US SOUTHWEST®; Listing agent: Robert Neitzke (928-577-7766)

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex
• Exterior features: Shingle roof; Zoned R2 (Multiple Family)

Interior

• Heating & cooling: Central electric heating; Central electric cooling; Multiple cooling units
• Interior features: Central heating; Central air; Electric heating and cooling

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $269/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $410k).
• Cap rate 9.4% vs local median 3.6% 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 (-0.9%/yr); 713 active listings in the ZIP; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• At $4,492/mo this rent would consume 112% of the median local household income ($48k/yr) (locally 1040% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $240k; list at $410k implies a 71% gain — meaningful room to come down on a strong offer.

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 $410,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.24%
• DSCR: 1.50
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-11,279
• Equity at exit: $61,132

10-year hold

• IRR: 3.7%
• Equity multiple: 1.23×
• Total profit: $26,855
• Equity at exit: $35,449

Cash invested: $114,800 (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 86442

• Home prices YoY: -27.0%
• Rents YoY: -0.9%
• Active inventory: 713
• Price-to-rent: 30.4×

Monthly cashflow live

• Estimated rent: $4,492 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$943
• Net cashflow: $1,075

Break-even live

Break-even rent $3,131

Max offer price $410,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,307	-5% $1,191	+0% $1,075	+5% $959	+10% $843
Rent	-10% $720	-5% $898	+0% $1,075	+5% $1,253	+10% $1,430
Rate	-1.0pp $1,282	-0.5pp $1,179	base $1,075	+0.5pp $969	+1.0pp $861

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,492
Total (4 units)			$4,492

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $410,000 Active 3 DOM
2. 2026-06-18
   remarks 399-char remark
3. 2026-06-18
   listed $410,000 Active 1 DOM

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

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $1,831 · $153/mo
• Projected year-2 tax: $2,706 · $226/mo
• Expected delta: +$875/yr (+$73/mo · 47.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 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: $53,904
• − Mortgage interest: −$22,966
• − Property taxes: −$1,831
• − Insurance: −$2,050
• − Repairs & maintenance: −$4,312
• − Management: −$4,312
• − Depreciation: −$11,927
• Taxable income: $6,504
• Est. tax owed @ 24.0%: −$1,561
• After-tax cash flow: $11,341/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): 34,735
• Household income: $48,081
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 1040.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 22% Two or more races 12% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Portuguese 3% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 11%

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: ▼ -100.11%
• Current HPI: 270.3297
• Rent YoY: ▼ -0.90%
• 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

+71.2% since first listed

3 events — show timeline

• 2026-06-18 Listed $410,000 WARDEX
• 2016-08-20 Listed $174,900 WARDEX
• 1987-07-01 Sold (Public Records) $239,500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,831 · +3.3% YoY. Source: county tax records.