408 N Stardust Ln · Bluewater, AZ 85344

$60,000

2 bd · 2.0 ba · 720 sqft · SingleFamily · 4 Days on market

Built 1974 Poor condition 4,792 sqft lot $83/sqft · 54% below area ↓ 38% since listing

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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
• Rent growth +2.5/5.0
• Schools +1.5/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The most affordable home in Bluewater Lagoon, with a monthly lease rate of just $103.26! Nestled in the highly sought-after Bluewater Lagoon community, this charming home offers access to fantastic amenities including a community pool, boat launch, and clubhouse—all just a short walk from the river. Whether you're looking for a vacation getaway, an investment property, or a year-round residence, this home has it all. With a little TLC, you can easily make it your own. Enjoy low utility costs, a prime location, and the added benefit of NO taxes and NO HOA fees. Fenced backyard ample parking space, with room for your RV or boat. What's not to love?

Key facts

• Clubhouse
• Community pool
• Fenced side yard

Tags

• COMMUNITY POOL
• BOAT LAUNCH
• CLUBHOUSE
• FENCED SIDE YARD
• PLENTY OF PARKING

Property features AI

Finance

• Other: Zoning: PA-R1-7 Residential
• Financial info: Land is leased

Exterior

• Parking: No designated parking listed
• Utilities: Public water; Public sewer; 200+ amp electric service; Natural gas available and connected; Electricity available
• Home design: Manufactured home (single story)
• Construction: Vertical siding; Rolled/hot mop roof; Built by Sandpoint
• Exterior features: Chain link, privacy, and wood fencing; Level lot; Shed(s); Gunite pool; North-facing

Interior

• Kitchen: Kitchen island; Breakfast bar; Pantry; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Electric heating
• Interior features: Laminate counters; Breakfast bar; Ceiling fans; Kitchen island; Open floorplan; Pantry
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $965 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 25.6% 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

Recommended offer $60,000

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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.91% ✓
• Cap rate: 25.59%
• Cash-on-cash: 68.91%
• DSCR: 4.07
• GRM: 2.9

CMA / ARV

• ARV (median comp): $131,576
• List price: $60,000
• Delta: -54.40%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.4%
• Equity multiple: 4.08×
• Total profit: $51,745
• Equity at exit: $8,946

10-year hold

• IRR: 72.5%
• Equity multiple: 8.40×
• Total profit: $124,281
• Equity at exit: $5,188

Cash invested: $16,800 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $965

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,006	-5% $985	+0% $965	+5% $944	+10% $923
Rent	-10% $827	-5% $896	+0% $965	+5% $1,034	+10% $1,103
Rate	-1.0pp $995	-0.5pp $980	base $965	+0.5pp $949	+1.0pp $933

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-05
   status Pending 536-char remark
2. 2026-04-30
   listed $60,000 Active 536-char remark
3. 2025-02-21
   soldstatus $78,000 Closed 661-char remark

   Show marketing remark (661 chars)

   The most affordable home in Bluewater Lagoon, with a monthly lease rate of just $103.26! Nestled in the highly sought-after Bluewater Lagoon community, this charming home offers access to fantastic amenities including a community pool, boat launch, and clubhouse—all just a short walk from the river. Whether you're looking for a vacation getaway, an investment property, or a year-round residence, this home has it all. With a little TLC, you can easily make it your own. Enjoy low utility costs, a prime location, and the added benefit of NO taxes and NO HOA fees. Fenced backyard ample parking space, with room for your RV or boat. What's not to love?

4. 2025-02-14
   status Pending 661-char remark

   Show marketing remark (661 chars)

   The most affordable home in Bluewater Lagoon, with a monthly lease rate of just $103.26! Nestled in the highly sought-after Bluewater Lagoon community, this charming home offers access to fantastic amenities including a community pool, boat launch, and clubhouse—all just a short walk from the river. Whether you're looking for a vacation getaway, an investment property, or a year-round residence, this home has it all. With a little TLC, you can easily make it your own. Enjoy low utility costs, a prime location, and the added benefit of NO taxes and NO HOA fees. Fenced backyard ample parking space, with room for your RV or boat. What's not to love?

5. 2025-02-11
   listed $79,999 Active 661-char remark

   Show marketing remark (661 chars)

   The most affordable home in Bluewater Lagoon, with a monthly lease rate of just $103.26! Nestled in the highly sought-after Bluewater Lagoon community, this charming home offers access to fantastic amenities including a community pool, boat launch, and clubhouse—all just a short walk from the river. Whether you're looking for a vacation getaway, an investment property, or a year-round residence, this home has it all. With a little TLC, you can easily make it your own. Enjoy low utility costs, a prime location, and the added benefit of NO taxes and NO HOA fees. Fenced backyard ample parking space, with room for your RV or boat. What's not to love?

6. 2024-08-05
   price $84,900
7. 2024-05-11
   listed $89,900 Active
8. 2022-11-16
   soldstatus $60,000 Closed
9. 2022-10-20
   status Pending
10. 2022-09-29
    price $75,000
11. 2022-07-07
    listed $85,000 Active

ⓘ 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: $20,952
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$1,745
• Taxable income: $11,293
• Est. tax owed @ 24.0%: −$2,710
• After-tax cash flow: $8,866/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and landscaping to become move-in ready. Significant investment is needed to improve its condition and increase its value.

Repairs flagged

• Major Exposed wooden steps — Structural damage
• Major Gravel driveway — Needs replacement
• Major Landscaping — No vegetation

Value-add opportunities

• Both Landscaping — Improves curb appeal and adds value
• Both Driveway replacement — Enhances safety and aesthetics
• Both Exterior repairs — Fixes structural issues and enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed wooden steps · Structural damage	Major	$15,000–50,000
Gravel driveway · Needs replacement	Major	$15,000–50,000
Landscaping · No vegetation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Landscaping — Improves curb appeal and adds value ↑
• Both Driveway replacement — Enhances safety and aesthetics ↑
• Both Exterior repairs — Fixes structural issues and enhances curb appeal ↑

ⓘ 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

-38.2% since first listed

12 events — show timeline

• 2026-06-09 Sold (MLS) $52,500 LHAR
• 2026-05-05 Pending — LHAR
• 2026-04-30 Listed $60,000 LHAR
• 2025-02-21 Sold (MLS) $78,000 LHAR
• 2025-02-14 Pending — LHAR
• 2025-02-11 Listed $79,999 LHAR
• 2024-08-05 Price Changed $84,900 LHAR
• 2024-05-11 Listed $89,900 LHAR
• 2022-11-16 Sold (MLS) $60,000 LHAR
• 2022-10-20 Pending — LHAR
• 2022-09-29 Price Changed $75,000 LHAR
• 2022-07-07 Listed $85,000 LHAR