2394 N Mohave Ridge Ave · Bullhead City, AZ 86429

$819,500

9 bd · 13.5 ba · 4,573 sqft · MultiFamily public records · 71 Days on market

Built 1993 7,841 sqft lot

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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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

BACK ON THE MARKET!!!! GREAT INVESTMENT OPPORTUNITY!!! This property features 4 townhouse style units all with 2 car garages. Each unit has 2 1/2 bathrooms, laundry hookups small fenced back yard and views of the casinos and river. Units 2-4 have 2 bedrooms up stairs with the master having a balcony overlooking the casinos and the river. Unit 1 has 3 bedrooms upstairs with the master also having a balcony overlooking the casinos and river. Pictures are of unit 3 only.

Key facts

• Tenant occupied
• Fenced backyards
• Laundry hook ups

Tags

• TENANT OCCUPIED
• VACANT FOR PERSONAL USE
• SPECTACULAR VIEWS
• DETACHED GARAGE
• LAUNDRY HOOK UPS
• FENCED BACKYARDS

Property features AI

Finance

• Financial info: Actual rent listed for one unit: $1,095

Exterior

• Parking: Detached garage (2 spaces per unit)
• Utilities: Public water; Public sewer; Electricity available
• Home design: Residential income property (quadruplex)
• Construction: Stucco exterior
• Exterior features: Tile roof; No pool

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Unit 3: 3 bedrooms; Unit 4: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: Unit 1: 3 bathrooms; Unit 2: 3 bathrooms; Unit 3: 3 bathrooms; Unit 4: 3 bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling; Central air; Electric cooling
• Interior features: Carpet and tile flooring; Has view

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $820k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive. Per door: $49/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 $632k (22.9% below list).
• Recommended offer: $632k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (-0.6%/yr); 326 active listings in the ZIP; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• At $6,316/mo this rent would consume 129% of the median local household income ($59k/yr) (locally 318% 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 $6k of loan paydown is wiped out by about $25k 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 71 days — a 6% lower offer ($770k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $828.18M (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $575k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $631,600 (22.9% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 23% 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. 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?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 10.8

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: -18.1%
• Equity multiple: 0.38×
• Total profit: $-142,316
• Equity at exit: $122,190

10-year hold

• IRR: -16.4%
• Equity multiple: 0.19×
• Total profit: $-185,022
• Equity at exit: $70,855

Cash invested: $229,460 (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: 32.4×

Monthly cashflow live

• Estimated rent: $6,316 high
• Mortgage (P&I): −$4,298
• Tax from tax record: −$203 /mo · $2,437/yr
• Insurance: −$341
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,326
• Net cashflow: $148

Break-even live

Break-even rent $6,129

Max offer price $819,500

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$6,315
Total (3 units)			$6,316

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: $204,875
• Closing costs: $24,585
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $819,500 Active 71 DOM
2. 2026-06-17
   days on market $819,500 Active 70 DOM
3. 2026-06-16
   days on market $819,500 Active 69 DOM
4. 2026-06-15
   days on market $819,500 Active 68 DOM
5. 2026-06-14
   days on market $819,500 Active 66 DOM
6. 2026-06-13
   days on market $819,500 Active 65 DOM
7. 2026-06-10
   days on market $819,500 Active 63 DOM
8. 2026-06-09
   days on market $819,500 Active 62 DOM
9. 2026-06-08
   days on market $819,500 Active 61 DOM
10. 2026-06-07
    days on market $819,500 Active 60 DOM
11. 2026-06-05
    days on market $819,500 Active 57 DOM
12. 2026-06-02
    days on market $819,500 Active 55 DOM
13. 2026-06-01
    days on market $819,500 Active 54 DOM
14. 2026-05-31
    days on market $819,500 Active 53 DOM
15. 2026-05-30
    pricedays on market $819,500 Active 52 DOM
16. 2026-04-09
    price $829,000
17. 2026-04-08
    listed $829,000,000 Active
18. 2021-12-30
    soldstatus $575,000 473-char remark

    Show marketing remark (473 chars)

    BACK ON THE MARKET!!!! GREAT INVESTMENT OPPORTUNITY!!! This property features 4 townhouse style units all with 2 car garages. Each unit has 2 1/2 bathrooms, laundry hookups small fenced back yard and views of the casinos and river. Units 2-4 have 2 bedrooms up stairs with the master having a balcony overlooking the casinos and the river. Unit 1 has 3 bedrooms upstairs with the master also having a balcony overlooking the casinos and river. Pictures are of unit 3 only.

19. 2021-12-30
    soldstatus $575,000

    Show marketing remark (473 chars)

    BACK ON THE MARKET!!!! GREAT INVESTMENT OPPORTUNITY!!! This property features 4 townhouse style units all with 2 car garages. Each unit has 2 1/2 bathrooms, laundry hookups small fenced back yard and views of the casinos and river. Units 2-4 have 2 bedrooms up stairs with the master having a balcony overlooking the casinos and the river. Unit 1 has 3 bedrooms upstairs with the master also having a balcony overlooking the casinos and river. Pictures are of unit 3 only.

20. 2021-10-29
    listed $630,000 473-char remark

    Show marketing remark (473 chars)

    BACK ON THE MARKET!!!! GREAT INVESTMENT OPPORTUNITY!!! This property features 4 townhouse style units all with 2 car garages. Each unit has 2 1/2 bathrooms, laundry hookups small fenced back yard and views of the casinos and river. Units 2-4 have 2 bedrooms up stairs with the master having a balcony overlooking the casinos and the river. Unit 1 has 3 bedrooms upstairs with the master also having a balcony overlooking the casinos and river. Pictures are of unit 3 only.

21. 2019-01-21
    listed $439,000
22. 2004-05-14
    soldstatus $395,000
23. 2002-09-26
    soldstatus $265,000
24. 1998-07-14
    soldstatus $238,000

ⓘ 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: $2,437 · $203/mo
• Projected year-2 tax: $5,409 · $451/mo
• Expected delta: +$2,972/yr (+$248/mo · 121.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $75,792
• − Mortgage interest: −$45,905
• − Property taxes: −$2,437
• − Insurance: −$4,098
• − Repairs & maintenance: −$6,063
• − Management: −$6,063
• − Depreciation: −$23,840
• Taxable loss: −$12,614
• Est. tax savings @ 24.0%: +$3,027
• After-tax cash flow: $4,798/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

+248.3% since first listed

9 events — show timeline

• 2026-04-09 Price Changed $829,000 WARDEX
• 2026-04-08 Listed $829,000,000 WARDEX
• 2021-12-30 Sold (Public Records) $575,000 Public Records
• 2021-12-30 Sold (MLS) $575,000 WARDEX
• 2021-10-29 Listed $630,000 WARDEX
• 2019-01-21 Listed $439,000 WARDEX
• 2004-05-14 Sold (Public Records) $395,000 Public Records
• 2002-09-26 Sold (Public Records) $265,000 Public Records
• 1998-07-14 Sold (Public Records) $238,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,437 · +3.3% YoY. Source: county tax records.