2146 Riviera Blvd · Bullhead City, AZ 86442

$525,000

None bd · None ba · 2,912 sqft · MultiFamily public records · 122 Days on market

Built 1983 8,099 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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• 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 MLS

Well maintained fourplex located at 2146 Riviera Blvd in Bullhead City, Arizona, just minutes from Rotary Park, the Colorado River, and local boat launch access. This income producing property features four 2-bedroom, 1-bathroom units, all currently occupied and month-to-month, offering immediate income with flexibility for future optimization. Current rents are below market, providing clear upside for the next owner. Units 1, 3, and 4 rent at $900 per month, with Unit 2 at $950 per month. Three of the four units have completed interior remodels, while one long-term tenant occupied unit remains in original condition, presenting a straightforward value-add opportunity. Ownership pride is evident throughout. Since acquiring the property in 2018, the owner has replaced all HVAC units, upgraded the electrical with separately metered power and a newer electrical panel, and maintained the roof in good condition. Utilities are simple and predictable with tenants paying electric and the owner covering water, sewer, and trash. The property features a two-story layout with two units downstairs and two upstairs, a shared front patio area, and a free-for-all parking structure with no assigned spaces. No laundry, garages, or storage units, keeping maintenance and operating complexity low. Tenant base is stable and long term, with three single occupants and one family unit. No pets allowed except service animals. The property is self-managed, with minimal ongoing expenses, no HOA, no rent control, and sits on owned land, making it an attractive long-term hold or 1031 exchange option. This is a solid, stabilized multifamily asset in a desirable river-adjacent location with immediate cash flow and future rent growth potential.

Key facts

• Updated electrical
• New hvac systems
• Remodeled units

Tags

• REMODELED UNITS
• MAJOR UPGRADES
• NEW HVAC SYSTEMS
• UPDATED ELECTRICAL
• WELL-MAINTAINED ROOF
• OWNED LAND

Property features AI

Finance

• Other: Zoned B-R2MF (Multiple Family)

Exterior

• Utilities: Public water; Public sewer; Electricity available
• Home design: Residential income property; Triplex
• Construction: Stucco construction
• Exterior features: Tile roof; Has a view

Interior

• Flooring: Carpet
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet flooring

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $959 ($12k/yr) — positive. Per door: $240/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $514k (2.1% below list).
• Recommended offer: $462k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (-0.9%/yr); 713 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• At $5,138/mo this rent would consume 128% 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 $4k of loan paydown is wiped out by about $16k 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

• It's been on market 122 days — a 12% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• 3 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 $150k; list at $525k implies a 250% 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 $462,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 8.48%
• Cash-on-cash: 7.83%
• DSCR: 1.35
• GRM: 8.5

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: -7.5%
• Equity multiple: 0.73×
• Total profit: $-39,306
• Equity at exit: $78,279

10-year hold

• IRR: -1.7%
• Equity multiple: 0.90×
• Total profit: $-14,783
• Equity at exit: $45,392

Cash invested: $147,000 (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 86442

• Home prices YoY: -27.0%
• Rents YoY: -0.9%
• Active inventory: 713
• Price-to-rent: 34.1×

Monthly cashflow live

• Estimated rent: $5,138 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$128 /mo · $1,539/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,079
• Net cashflow: $959

Break-even live

Break-even rent $3,924

Max offer price $525,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,256	-5% $1,107	+0% $959	+5% $810	+10% $662
Rent	-10% $553	-5% $756	+0% $959	+5% $1,162	+10% $1,365
Rate	-1.0pp $1,223	-0.5pp $1,092	base $959	+0.5pp $823	+1.0pp $684

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,136
Total (4 units)			$5,138

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2077 Whitewater Dr Bullhead City, AZ	3.0	2.0	2176	$3,000	$1.38	3d	1	0.80mi

Listing history 26 events

1. 2026-06-21
   days on market $525,000 Active 122 DOM
2. 2026-06-18
   days on market $525,000 Active 119 DOM
3. 2026-06-17
   days on market $525,000 Active 118 DOM
4. 2026-06-16
   days on market $525,000 Active 117 DOM
5. 2026-06-15
   days on market $525,000 Active 116 DOM
6. 2026-06-14
   days on market $525,000 Active 114 DOM
7. 2026-06-13
   days on market $525,000 Active 113 DOM
8. 2026-06-10
   days on market $525,000 Active 111 DOM
9. 2026-06-09
   days on market $525,000 Active 110 DOM
10. 2026-06-08
    days on market $525,000 Active 109 DOM
11. 2026-06-07
    days on market $525,000 Active 108 DOM
12. 2026-06-05
    days on market $525,000 Active 105 DOM
13. 2026-06-02
    days on market $525,000 Active 103 DOM
14. 2026-06-01
    days on market $525,000 Active 102 DOM
15. 2026-05-31
    days on market $525,000 Active 101 DOM
16. 2026-05-30
    days on market $525,000 Active 100 DOM
17. 2026-02-19
    listed $525,000 Active
18. 2026-02-12
    listed $525,000 Active 1740-char remark

    Show marketing remark (1740 chars)

    Well maintained fourplex located at 2146 Riviera Blvd in Bullhead City, Arizona, just minutes from Rotary Park, the Colorado River, and local boat launch access. This income producing property features four 2-bedroom, 1-bathroom units, all currently occupied and month-to-month, offering immediate income with flexibility for future optimization. Current rents are below market, providing clear upside for the next owner. Units 1, 3, and 4 rent at $900 per month, with Unit 2 at $950 per month. Three of the four units have completed interior remodels, while one long-term tenant occupied unit remains in original condition, presenting a straightforward value-add opportunity. Ownership pride is evident throughout. Since acquiring the property in 2018, the owner has replaced all HVAC units, upgraded the electrical with separately metered power and a newer electrical panel, and maintained the roof in good condition. Utilities are simple and predictable with tenants paying electric and the owner covering water, sewer, and trash. The property features a two-story layout with two units downstairs and two upstairs, a shared front patio area, and a free-for-all parking structure with no assigned spaces. No laundry, garages, or storage units, keeping maintenance and operating complexity low. Tenant base is stable and long term, with three single occupants and one family unit. No pets allowed except service animals. The property is self-managed, with minimal ongoing expenses, no HOA, no rent control, and sits on owned land, making it an attractive long-term hold or 1031 exchange option. This is a solid, stabilized multifamily asset in a desirable river-adjacent location with immediate cash flow and future rent growth potential.

19. 2016-08-02
    soldstatus $150,000 281-char remark

    Show marketing remark (281 chars)

    4 Plex - 3 of 4 units are rented. Repairs needed - drywall, paint and carpet. 1 unit upstairs vacant. Located close to Colorado River, centrally located & close to boat launching, shopping, schools, post office and more. Buyer to verify sq. ft. , flood plain and utilities. ,

20. 2016-08-02
    soldstatus $150,000

    Show marketing remark (281 chars)

    4 Plex - 3 of 4 units are rented. Repairs needed - drywall, paint and carpet. 1 unit upstairs vacant. Located close to Colorado River, centrally located & close to boat launching, shopping, schools, post office and more. Buyer to verify sq. ft. , flood plain and utilities. ,

21. 2016-04-18
    listed $150,000 281-char remark

    Show marketing remark (281 chars)

    4 Plex - 3 of 4 units are rented. Repairs needed - drywall, paint and carpet. 1 unit upstairs vacant. Located close to Colorado River, centrally located & close to boat launching, shopping, schools, post office and more. Buyer to verify sq. ft. , flood plain and utilities. ,

22. 2005-01-12
    soldstatus $299,000
23. 2003-12-17
    soldstatus $159,000
24. 2003-09-11
    soldstatus $140,000
25. 1996-11-22
    soldstatus $108,500
26. 1994-05-25
    soldstatus $110,000

ⓘ 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: $1,539 · $128/mo
• Projected year-2 tax: $3,465 · $289/mo
• Expected delta: +$1,926/yr (+$161/mo · 125.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥116°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: $61,656
• − Mortgage interest: −$29,408
• − Property taxes: −$1,539
• − Insurance: −$2,625
• − Repairs & maintenance: −$4,932
• − Management: −$4,932
• − Depreciation: −$15,273
• Taxable income: $2,946
• Est. tax owed @ 24.0%: −$707
• After-tax cash flow: $10,799/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

+377.3% since first listed

10 events — show timeline

• 2026-02-19 Listed $525,000 LHAR
• 2026-02-12 Listed $525,000 WARDEX
• 2016-08-02 Sold (Public Records) $150,000 Public Records
• 2016-08-02 Sold (MLS) $150,000 WARDEX
• 2016-04-18 Listed $150,000 WARDEX
• 2005-01-12 Sold (Public Records) $299,000 Public Records
• 2003-12-17 Sold (Public Records) $159,000 Public Records
• 2003-09-11 Sold (Public Records) $140,000 Public Records
• 1996-11-22 Sold (Public Records) $108,500 Public Records
• 1994-05-25 Sold (Public Records) $110,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,539 · +3.3% YoY. Source: county tax records.