308 N Moonlight Dr · Bluewater, AZ 85344

$100,000

3 bd · 2.0 ba · 1,430 sqft · Manufactured · 29 Days on market

Built 1998 Fair condition 5,000 sqft lot Est $189k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Roomy, split floor plan with 3 bedroom, 2 bath this home features a large living room with formal dinning and breakfast areas. This house has a large screened patio off the kitchen also known as an Arizona room. Lots of parking featuring an RV high carport and 20 foot long storage container re purposed into a work shop. Located in Bluewater Lagoon Gated Community with public pool, beach and launch ramp.

Key facts

• Breakfast nook
• Formal dining space
• Open living area

Tags

• OPEN LIVING AREA
• FORMAL DINING SPACE
• BREAKFAST NOOK
• RV HEIGHT CARPORT
• COVERED REAR DECK
• COLORADO RIVER ACCESS

Property features AI

Finance

• Other: Located in Bluewater Lagoon subdivision; property zoned PA-MH (Manufactured Home Overlay District); Lot is level
• Financial info: Land is leased

Exterior

• Parking: Has carport
• Utilities: Public water; Public sewer; 200+ Amp electric service
• Home design: Manufactured home (double wide); Updated/remodeled; Built by Fleetwood Homes
• Construction: Shingle roof; 26 ft wide by 55 ft long
• Exterior features: Back yard with wood fencing; Shed(s)

Interior

• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Tile counters; Vaulted ceilings; Soaking tub; Ceiling fans; Open floorplan
• Laundry & utility: Laundry located inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 9.9% in Bluewater — 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 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $68k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.01% ✓
• Cap rate: 17.09%
• Cash-on-cash: 38.56%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $188,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
337 N Moonlight Dr	0.13mi	3/2.0	1,440 (+1%)	1mo	$190,000	$132	92
232 E Riverfront Dr	0.06mi	4/2.0 (+1)	1,340 (-6%)	2mo	$350,000	$261	80
409 N Misty Ln	0.18mi	3/2.0	1,500 (+5%)	5mo	$122,000	$81	79
405 N Stardust Ln	0.17mi	3/2.0	1,372 (-4%)	10mo	$130,000	$95	77
245 E Riverfront Dr	0.07mi	2/2.0 (-1)	1,344 (-6%)	13mo	$275,000	$205	71
249 Bluewater Dr	0.14mi	3/2.0	1,568 (+10%)	10mo	$157,308	$100	70
338 N Moonlight Dr	0.14mi	2/2.0 (-1)	1,296 (-9%)	6mo	$132,000	$102	68
471 Bluewater Dr	0.25mi	3/2.0	1,216 (-15%)	0mo	$124,900	$103	63
473 Bluewater Dr	0.48mi	2/2.0 (-1)	1,440 (+1%)	13mo	$143,500	$100	61
484 E Riverfront Dr	0.53mi	3/2.0	1,392 (-3%)	15mo	$415,000	$298	59
516 Bluewater Dr	0.65mi	3/2.0	1,440 (+1%)	12mo	$265,000	$184	58
452 E Riverfront Dr	0.40mi	3/2.0	1,248 (-13%)	8mo	$289,000	$232	54

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: 34.7%
• Equity multiple: 2.47×
• Total profit: $41,131
• Equity at exit: $14,910

10-year hold

• IRR: 41.5%
• Equity multiple: 4.92×
• Total profit: $109,729
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.1×

Monthly cashflow live

• Estimated rent: $2,014 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $900

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 50%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $100,000 Active 29 DOM
2. 2026-06-17
   days on market $100,000 Active 28 DOM
3. 2026-06-16
   days on market $100,000 Active 27 DOM
4. 2026-06-15
   days on market $100,000 Active 26 DOM
5. 2026-06-14
   days on market $100,000 Active 24 DOM
6. 2026-06-13
   days on market $100,000 Active 23 DOM
7. 2026-06-10
   days on market $100,000 Active 21 DOM
8. 2026-06-09
   days on market $100,000 Active 20 DOM
9. 2026-06-08
   days on market $100,000 Active 19 DOM
10. 2026-06-07
    days on market $100,000 Active 18 DOM
11. 2026-06-05
    days on market $100,000 Active 15 DOM
12. 2026-06-03
    pricestatusdays on market $100,000 Active 14 DOM
13. 2026-05-01
    status Pending
14. 2026-04-17
    listed $80,000 Active
15. 2015-02-27
    soldstatus $68,000 407-char remark

    Show marketing remark (407 chars)

    Roomy, split floor plan with 3 bedroom, 2 bath this home features a large living room with formal dinning and breakfast areas. This house has a large screened patio off the kitchen also known as an Arizona room. Lots of parking featuring an RV high carport and 20 foot long storage container re purposed into a work shop. Located in Bluewater Lagoon Gated Community with public pool, beach and launch ramp.

16. 2015-02-27
    soldstatus $68,000 407-char remark

    Show marketing remark (407 chars)

    Roomy, split floor plan with 3 bedroom, 2 bath this home features a large living room with formal dinning and breakfast areas. This house has a large screened patio off the kitchen also known as an Arizona room. Lots of parking featuring an RV high carport and 20 foot long storage container re purposed into a work shop. Located in Bluewater Lagoon Gated Community with public pool, beach and launch ramp.

17. 2014-01-21
    listed $68,000 407-char remark

    Show marketing remark (407 chars)

    Roomy, split floor plan with 3 bedroom, 2 bath this home features a large living room with formal dinning and breakfast areas. This house has a large screened patio off the kitchen also known as an Arizona room. Lots of parking featuring an RV high carport and 20 foot long storage container re purposed into a work shop. Located in Bluewater Lagoon Gated Community with public pool, beach and launch ramp.

18. 2014-01-21
    listed $68,000 407-char remark

    Show marketing remark (407 chars)

    Roomy, split floor plan with 3 bedroom, 2 bath this home features a large living room with formal dinning and breakfast areas. This house has a large screened patio off the kitchen also known as an Arizona room. Lots of parking featuring an RV high carport and 20 foot long storage container re purposed into a work shop. Located in Bluewater Lagoon Gated Community with public pool, beach and launch ramp.

ⓘ 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: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − Depreciation: −$2,909
• Taxable income: $9,787
• Est. tax owed @ 24.0%: −$2,349
• After-tax cash flow: $8,448/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 · 13 photos

Fair 45/100 Moderate rehab

The home is in fair condition with some minor repairs and maintenance needed. Painting and replacing the siding can significantly increase its value.

Repairs flagged

• Minor Paint — Paint appears slightly faded in some areas.
• Minor Siding — Siding appears slightly weathered.

Value-add opportunities

• Both Paint the interior and exterior — Fresh paint can improve the home's curb appeal and interior aesthetics, making it more attractive to potential buyers or renters.
• Both Replace the siding — New siding can improve the home's curb appeal and increase its value, making it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears slightly faded in some areas.	Minor	$500–3,000
Siding · Siding appears slightly weathered.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint the interior and exterior — Fresh paint can improve the home's curb appeal and interior aesthetics, making it more attractive to potential buyers or renters. ↑
• Both Replace the siding — New siding can improve the home's curb appeal and increase its value, making it more attractive to potential buyers or renters. ↑

ⓘ 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

+17.6% since first listed

6 events — show timeline

• 2026-05-01 Pending — LHAR
• 2026-04-17 Listed $80,000 LHAR
• 2015-02-27 Sold (MLS) $68,000 WARDEX
• 2015-02-27 Sold (MLS) $68,000 LHAR
• 2014-01-21 Listed $68,000 WARDEX
• 2014-01-21 Listed $68,000 LHAR