352 Rio Grande Ct · Bullhead City, AZ 86442

$269,000

9 bd · 8.1 ba · 1,701 sqft · MultiFamily public records · 303 Days on market

Built 2004 5,227 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 3 units. confirmed

Listing remarks MLS

Very nice duplex makes for great income property. Close to shopping and parks. Units have tenants in place income is being generated all ready. ,

Key facts

• Close to schools
• Covered parking
• Small balcony

Tags

• SMALL BALCONY
• COVERED PARKING
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO ROTARY PARK
• CLOSE TO COLORADO RIVER

Property features AI

Finance

• Financial info: Multiple rental units with reported rents: $850, $675, $850, $675

Exterior

• Parking: Carport (2 spaces)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Residential income property; Duplex
• Construction: Stucco and frame construction; Shingle roof
• Exterior features: Cul-de-sac lot; Northeast-facing; No pool

Interior

• Kitchen: Microwave; Range/oven; Disposal
• Bedrooms: Two bedrooms (each unit)
• Flooring: Carpet; Laminate
• Bathrooms: Two bathrooms (each unit)
• Heating & cooling: Central heating (natural gas); Central electric cooling
• Interior features: Unfurnished; Balcony; Ceiling fan(s); Disposal; Microwave; Range/oven; Washer/dryer hookups; Has view
• Laundry & utility: Washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/2.7-bath units multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $569/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $269k).
• Recommended offer: $237k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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); 710 active listings in the ZIP; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• At $4,200/mo this rent would consume 105% 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 $2k of loan paydown is wiped out by about $8k 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 $75k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 303 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 4 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 $75k; list at $269k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 303 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: 1.56% ✓
• Cap rate: 13.91%
• Cash-on-cash: 27.21%
• DSCR: 2.21
• GRM: 5.3

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: 18.0%
• Equity multiple: 1.70×
• Total profit: $52,805
• Equity at exit: $40,109

10-year hold

• IRR: 24.3%
• Equity multiple: 2.83×
• Total profit: $138,137
• Equity at exit: $23,258

Cash invested: $75,320 (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: 710
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $4,200 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$87 /mo · $1,045/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $1,708

Break-even live

Break-even rent $2,038

Max offer price $269,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	2.7	$4,200
Total (3 units)			$4,200

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $269,000 Active 303 DOM
2. 2026-06-17
   days on market $269,000 Active 302 DOM
3. 2026-06-16
   days on market $269,000 Active 301 DOM
4. 2026-06-15
   days on market $269,000 Active 300 DOM
5. 2026-06-14
   days on market $269,000 Active 298 DOM
6. 2026-06-13
   days on market $269,000 Active 297 DOM
7. 2026-06-10
   days on market $269,000 Active 295 DOM
8. 2026-06-09
   days on market $269,000 Active 294 DOM
9. 2026-06-08
   days on market $269,000 Active 293 DOM
10. 2026-06-07
    days on market $269,000 Active 292 DOM
11. 2026-06-05
    days on market $269,000 Active 289 DOM
12. 2026-06-02
    days on market $269,000 Active 287 DOM
13. 2026-06-01
    days on market $269,000 Active 286 DOM
14. 2026-05-31
    days on market $269,000 Active 285 DOM
15. 2026-05-30
    days on market $269,000 Active 284 DOM
16. 2025-09-02
    status Active
17. 2025-03-31
    status Active
18. 2025-03-19
    status Pending
19. 2025-03-06
    listed $269,000 Active
20. 2016-09-07
    soldstatus $75,000 145-char remark

    Show marketing remark (145 chars)

    Very nice duplex makes for great income property. Close to shopping and parks. Units have tenants in place income is being generated all ready. ,

21. 2016-09-07
    soldstatus $75,000

    Show marketing remark (145 chars)

    Very nice duplex makes for great income property. Close to shopping and parks. Units have tenants in place income is being generated all ready. ,

22. 2016-01-04
    listed $90,500 145-char remark

    Show marketing remark (145 chars)

    Very nice duplex makes for great income property. Close to shopping and parks. Units have tenants in place income is being generated all ready. ,

23. 2005-02-01
    soldstatus $188,000

ⓘ 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: $1,045 · $87/mo
• Projected year-2 tax: $1,775 · $148/mo
• Expected delta: +$730/yr (+$61/mo · 69.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥116°F today · 17 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: $50,400
• − Mortgage interest: −$15,068
• − Property taxes: −$1,045
• − Insurance: −$1,345
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − Depreciation: −$7,825
• Taxable income: $17,052
• Est. tax owed @ 24.0%: −$4,092
• After-tax cash flow: $16,405/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

+43.1% since first listed

8 events — show timeline

• 2025-09-02 Relisted — WARDEX
• 2025-03-31 Relisted — WARDEX
• 2025-03-19 Pending — WARDEX
• 2025-03-06 Listed $269,000 WARDEX
• 2016-09-07 Sold (Public Records) $75,000 Public Records
• 2016-09-07 Sold (MLS) $75,000 WARDEX
• 2016-01-04 Listed $90,500 WARDEX
• 2005-02-01 Sold (Public Records) $188,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,045 · +3.2% YoY. Source: county tax records.