327 N Moonlight Dr · Bluewater, AZ 85344

$129,000

3 bd · 2.0 ba · 1,320 sqft · Manufactured · 128 Days on market

Built 1980 Fair condition 4,792 sqft lot $98/sqft · 11% below area Est $144k · 11% 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 +12.3/15.0
• 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

on lease land NO HOA NOT PROPERTY TAXWelcome home to this inviting 3-bedroom, 2-bath residence offering desirable river access and a thoughtfully designed split floor plan for added privacy. The gorgeous upgraded kitchen features beautiful cabinetry, granite countertops, and flows seamlessly into the living areas—perfect for everyday living and entertaining. Enjoy a formal dining room ideal for gatherings and special occasions. Outside, you'll appreciate the 50+ ft covered carport providing ample space for vehicles and toys. Located in a sought-after 24-hour guard-gated community with resort-style amenities including a pool, launch ramp, beach access, and a dedicated dog area. This is river living at its best!

Key facts

• Formal dining room
• Covered carport
• Split floor plan

Tags

• RIVER ACCESS
• SPLIT FLOOR PLAN
• UPGRADED KITCHEN
• FORMAL DINING ROOM
• COVERED CARPORT
• GUARD GATED COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $129k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $714 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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 $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.58% ✓
• Cap rate: 12.94%
• Cash-on-cash: 23.74%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (median comp): $144,451
• List price: $129,000
• Delta: -10.70%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
232 E Riverfront Dr	0.15mi	4/2.0 (+1)	1,340 (+2%)	2mo	$350,000	$261	84
338 N Moonlight Dr	0.05mi	2/2.0 (-1)	1,296 (-2%)	6mo	$132,000	$102	84
337 N Moonlight Dr	0.04mi	3/2.0	1,440 (+9%)	1mo	$190,000	$132	82
405 N Stardust Ln	0.10mi	3/2.0	1,372 (+4%)	10mo	$130,000	$95	80
471 Bluewater Dr	0.19mi	3/2.0	1,216 (-8%)	0mo	$124,900	$103	78
245 E Riverfront Dr	0.16mi	2/2.0 (-1)	1,344 (+2%)	13mo	$275,000	$205	74
452 E Riverfront Dr	0.32mi	3/2.0	1,248 (-6%)	8mo	$289,000	$232	70
409 N Misty Ln	0.13mi	3/2.0	1,500 (+14%)	5mo	$122,000	$81	67
236 N Moonlight Dr	0.14mi	2/2.0 (-1)	1,152 (-13%)	1mo	$134,000	$116	67
324 N Misty Lane Ln	0.08mi	3/2.0	1,152 (-13%)	11mo	$105,000	$91	66
473 Bluewater Dr	0.40mi	2/2.0 (-1)	1,440 (+9%)	13mo	$143,500	$100	50
516 Bluewater Dr	0.57mi	3/2.0	1,440 (+9%)	12mo	$265,000	$184	48

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: 16.9%
• Equity multiple: 1.68×
• Total profit: $24,632
• Equity at exit: $19,234

10-year hold

• IRR: 25.4%
• Equity multiple: 3.22×
• Total profit: $80,168
• Equity at exit: $11,154

Cash invested: $36,120 (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: 5.3×

Monthly cashflow live

• Estimated rent: $2,033 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $714

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 60%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $129,000 Active 128 DOM
2. 2026-06-17
   days on market $129,000 Active 127 DOM
3. 2026-06-16
   days on market $129,000 Active 126 DOM
4. 2026-06-15
   days on market $129,000 Active 125 DOM
5. 2026-06-14
   days on market $129,000 Active 123 DOM
6. 2026-06-13
   days on market $129,000 Active 122 DOM
7. 2026-06-10
   days on market $129,000 Active 120 DOM
8. 2026-06-09
   days on market $129,000 Active 119 DOM
9. 2026-06-08
   days on market $129,000 Active 118 DOM
10. 2026-06-07
    days on market $129,000 Active 117 DOM
11. 2026-06-05
    days on market $129,000 Active 114 DOM
12. 2026-06-03
    days on market $129,000 Active 113 DOM
13. 2026-06-02
    days on market $129,000 Active 112 DOM
14. 2026-06-01
    days on market $129,000 Active 111 DOM
15. 2026-05-31
    days on market $129,000 Active 110 DOM
16. 2026-05-30
    days on market $129,000 Active 109 DOM
17. 2026-05-20
    price $129,000 725-char remark

    Show marketing remark (725 chars)

    on lease land NO HOA NOT PROPERTY TAXWelcome home to this inviting 3-bedroom, 2-bath residence offering desirable river access and a thoughtfully designed split floor plan for added privacy. The gorgeous upgraded kitchen features beautiful cabinetry, granite countertops, and flows seamlessly into the living areas—perfect for everyday living and entertaining. Enjoy a formal dining room ideal for gatherings and special occasions. Outside, you'll appreciate the 50+ ft covered carport providing ample space for vehicles and toys. Located in a sought-after 24-hour guard-gated community with resort-style amenities including a pool, launch ramp, beach access, and a dedicated dog area. This is river living at its best!

18. 2026-02-10
    listed $139,900 Active 725-char remark

    Show marketing remark (725 chars)

    on lease land NO HOA NOT PROPERTY TAXWelcome home to this inviting 3-bedroom, 2-bath residence offering desirable river access and a thoughtfully designed split floor plan for added privacy. The gorgeous upgraded kitchen features beautiful cabinetry, granite countertops, and flows seamlessly into the living areas—perfect for everyday living and entertaining. Enjoy a formal dining room ideal for gatherings and special occasions. Outside, you'll appreciate the 50+ ft covered carport providing ample space for vehicles and toys. Located in a sought-after 24-hour guard-gated community with resort-style amenities including a pool, launch ramp, beach access, and a dedicated dog area. This is river living at its best!

19. 2022-09-12
    soldstatus $115,000 Closed 255-char remark

    Show marketing remark (255 chars)

    Leased Land, NO Homeowners Association Dues, No Property Taxes. Close to The River and comes with Access to Community Beach, Boat Launch, Swimming Pool and Clubhouse. Granite Countertops and Tile Flooring. 50+ ft Deep Carport. Call today to see this home.

20. 2022-08-20
    status Pending 255-char remark

    Show marketing remark (255 chars)

    Leased Land, NO Homeowners Association Dues, No Property Taxes. Close to The River and comes with Access to Community Beach, Boat Launch, Swimming Pool and Clubhouse. Granite Countertops and Tile Flooring. 50+ ft Deep Carport. Call today to see this home.

21. 2022-01-28
    listed $129,000 Active 255-char remark

    Show marketing remark (255 chars)

    Leased Land, NO Homeowners Association Dues, No Property Taxes. Close to The River and comes with Access to Community Beach, Boat Launch, Swimming Pool and Clubhouse. Granite Countertops and Tile Flooring. 50+ ft Deep Carport. Call today to see this home.

ⓘ 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: $24,394
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − Depreciation: −$3,753
• Taxable income: $6,932
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $6,910/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 · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires significant repairs and updates to improve its condition and value. The home is in fair condition with major repairs needed to the roof, exterior, and interior. Updates to the home's appearance and curb appeal will significantly increase its value.

Repairs flagged

• Major roof — Exposed roof structure
• Major exterior siding — Weathered and peeling
• Major flooring — Worn and damaged
• Major interior walls — Worn and peeling paint
• Major bathrooms — Outdated fixtures and checkered tile
• Major kitchen — Worn cabinetry and outdated appliances
• Major landscaping — Overgrown and unkempt

Value-add opportunities

• Both paint and interior updates — Fresh paint and updates will improve the home's appearance and appeal
• Both landscaping — A well-maintained landscape will enhance curb appeal and attract potential buyers
• Both roof and exterior repairs — These repairs will address structural issues and improve the home's overall condition

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Exposed roof structure	Major	$15,000–50,000
exterior siding · Weathered and peeling	Major	$15,000–50,000
flooring · Worn and damaged	Major	$15,000–50,000
interior walls · Worn and peeling paint	Major	$15,000–50,000
bathrooms · Outdated fixtures and checkered tile	Major	$15,000–50,000
kitchen · Worn cabinetry and outdated appliances	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both paint and interior updates — Fresh paint and updates will improve the home's appearance and appeal ↑
• Both landscaping — A well-maintained landscape will enhance curb appeal and attract potential buyers ↑
• Both roof and exterior repairs — These repairs will address structural issues and improve the home's overall condition ↑

ⓘ 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

+0.0% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $129,000 LHAR
• 2026-02-10 Listed $139,900 LHAR
• 2022-09-12 Sold (MLS) $115,000 LHAR
• 2022-08-20 Pending — LHAR
• 2022-01-28 Listed $129,000 LHAR