1000 Mcculloch Blvd N #524 · Lake Havasu City, AZ 86403

$115,000

1 bd · 1.0 ba · 550 sqft · Condo · 242 Days on market

Built 2003 Good condition $209/sqft · 51% below area $674/mo HOA · 52% of rent

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Cash flow +1.8/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own one of the 60 guestrooms directly on the beach. Your boat will be only steps away! Stunning views from inside and out. Your room comes fully furnished including two flat-screen TVs, a refrigerator and microwave. Two pillowtop beds come with Egyptian cotton sheets. A private bathroom with shower/tub combination features complimentary toiletries and hair dryers. Rooms have private furnished balconies or patios. This one has a balcony but a ground floor entry. No stairs. The best of both worlds! Complimentary wireless internet access keeps you connected, and cable programming is available for your entertainment. Looking for income? Participate in the rental program managed on-site. Taxes, insurance, and all utilities are included in the HOA fee. There is no better way to vacation in Havasu!

Key facts

• Cable programming
• Boat steps away
• Ground floor entry

Tags

• BOAT STEPS AWAY
• PRIVATE FURNISHED BALCONIES
• GROUND FLOOR ENTRY
• CABLE PROGRAMMING
• RENTAL PROGRAM MANAGED ON-SITE
• HOA FEE INCLUDES UTILITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-436 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $52k (54.8% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $52k (54.8% below list) — sets the bar for cash-flow.
• Cap rate 1.7% vs local median 3.0% in Lake Havasu City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 63/100 on livability (#124 in AZ) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: health & safety C-, amenities F, commute F.
• Lake Havasu Unified District (4368) (urban): math 39% / reading 41% proficiency, ranked #66 of 249 in AZ (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Smoketree Elementary School (math 39% / reading 38%, grade F, #418 of 1,109 statewide, top 38%, 621 students, 49% FRL); Thunderbolt Middle School (math 27% / reading 34%, grade F, #81 of 218 statewide, top 37%, 851 students, 41% FRL); Lake Havasu High School (math 29% / reading 33%, grade F, #111 of 381 statewide, top 29%, 1,813 students, 31% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 657 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 30d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 242 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $115k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 52% of rent.
• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,950 (54.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.14% ✓
• Cap rate: 1.75%
• Cash-on-cash: -16.24%
• DSCR: 0.28
• GRM: 7.3

CMA / ARV

• ARV (median comp): $236,751
• List price: $115,000
• Delta: -51.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Mcculloch Blvd N #545	0.73mi	1/1.0	550 (0%)	8mo	$135,000	$245	59
276 Lake Havasu Ave S Unit C31	0.95mi	1/1.0	540 (-2%)	5mo	$149,000	$276	58
1534 Beachcomber Blvd Unit D5	0.96mi	1/1.0	590 (+7%)	5mo	$30,000	$51	49
555 Beachcomber Blvd Unit D21	1.24mi	1/1.0	500 (-9%)	4mo	$360,000	$720	46
555 Beachcomber Blvd #231	1.24mi	2/1.0 (+1)	600 (+9%)	0mo	$215,000	$358	45
601 Beachcomber Blvd #392	1.17mi	1/1.0	420 (-24%)	4mo	$45,000	$107	36
555 Beachcomber Blvd #250	1.24mi	1/1.0	444 (-19%)	4mo	$195,000	$439	36
555 Beachcomber Blvd #230	1.24mi	1/1.0	458 (-17%)	7mo	$155,000	$338	34
256 Lake Havasu Ave S Unit B57	0.96mi	1/1.0	664 (+21%)	8mo	$155,000	$233	34
1650 Smoketree Ave S #218	0.80mi	1/1.0	672 (+22%)	8mo	$175,000	$260	34
555 Beachcomber Blvd #256	1.13mi	2/1.0 (+1)	620 (+13%)	7mo	$242,000	$390	33
1806 Swanson Ave #103	1.32mi	1/1.5	651 (+18%)	8mo	$160,000	$246	32

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: -45.9%
• Equity multiple: -0.41×
• Total profit: $-45,385
• Equity at exit: $17,147

10-year hold

• IRR: -72.3%
• Equity multiple: -1.21×
• Total profit: $-71,140
• Equity at exit: $9,943

Cash invested: $32,200 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 86403

• Home prices YoY: -33.5%
• Rents YoY: 3.4%
• Active inventory: 657
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$674
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-436

Break-even live

Break-even rent $1,859

Max offer price $51,950

Occupancy floor —

Sensitivity live

Price	-10% $-356	-5% $-396	+0% $-436	+5% $-475	+10% $-515
Rent	-10% $-539	-5% $-487	+0% $-436	+5% $-384	+10% $-332
Rate	-1.0pp $-378	-0.5pp $-406	base $-436	+0.5pp $-466	+1.0pp $-496

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: $28,750
• Closing costs: $3,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1650 S Smoketree Ave Lake Havasu City, AZ	1.0	1.0	672	$1,800	$2.68	21d	1	0.72mi
1650 S Smoketree Ave Unit 275a Lake Havasu City, AZ	1.0	1.0	672	$1,700	$2.53	10d	1	0.72mi
1650 Smoketree Ave S Lake Havasu City, AZ	1.0	1.0–1.5	761	$1,750	$2.30	15d	2	0.72mi
1650 Smoketree Ave S Lake Havasu City, AZ	1.0	1.0–1.5	761	$1,900	$2.50	9d	2	0.72mi
1650 Smoketree Ave S #125 Lake Havasu City, AZ	1.0	1.0	667	$1,400	$2.10	184d	1	0.77mi
276 Lake Havasu Ave S Lake Havasu City, AZ	1.0	1.0	604	$1,412	$2.34	2d	2	0.94mi
276 Lake Havasu Ave S Lake Havasu City, AZ	1.0	1.0	604	$1,450	$2.40	29d	1	0.94mi
276 Lake Havasu Ave S Lake Havasu City, AZ	1.0	1.0	604	$1,250	$2.07	7d	3	0.94mi
256 Lake Havasu Ave S Unit C53 Lake Havasu City, AZ	1.0	1.0	670	$1,100	$1.64	162d	1	0.95mi
256 Lake Havasu Ave S Unit C57 Lake Havasu City, AZ	1.0	1.0	664	$1,000	$1.51	2d	1	0.95mi
276 Lake Havasu Ave Unit C-24 Lake Havasu City, AZ	1.0	1.0	670	$1,195	$1.78	184d	1	0.95mi
276 Lake Havasu Ave Unit C-14 Lake Havasu City, AZ	1.0	1.0	670	$1,100	$1.64	162d	1	0.95mi
256 Lake Havasu Ave S Lake Havasu City, AZ	1.0–2.0	1.0–2.0	699	$1,100	$1.57	184d	2	0.96mi
256 Lake Havasu Ave S Lake Havasu City, AZ	1.0–2.0	1.0–2.0	763	$1,075	$1.41	43d	1	0.96mi
256 Lake Havasu Ave S Lake Havasu City, AZ	1.0–2.0	1.0–2.0	787	$1,075	$1.37	37d	2	0.96mi
1767 Magnolia Dr Unit 103 Lake Havasu City, AZ	1.0	1.0	635	$1,175	$1.85	162d	1	1.29mi
1806 Swanson Ave Lake Havasu City, AZ	1.0	1.5–2.0	692	$1,375	$1.99	154d	1	1.33mi
1880 Swanson Ave Unit 1 Lake Havasu City, AZ	1.0	1.0	600	$1,349	$2.25	2d	1	1.36mi
1880 Swanson Ave Lake Havasu City, AZ	1.0	1.0	600	$1,349	$2.25	10d	1	1.36mi
2010 Swanson Ave Unit 22 Lake Havasu City, AZ	1.0	1.0	650	$900	$1.38	184d	1	1.46mi
2010 Swanson Ave Apt 30 Lake Havasu City, AZ	1.0	1.0	650	$900	$1.38	10d	1	1.46mi
2010 Swanson Ave Apt 30 Lake Havasu City, AZ	1.0	1.0	650	$900	$1.38	29d	1	1.46mi

HOA detail $674/mo · $8,088/yr condo

• Likely covers: internetcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $115,000 Active 242 DOM
2. 2026-11-07
   days on market $115,000 Active 241 DOM
3. 2026-11-06
   days on market $115,000 Active 240 DOM
4. 2026-11-05
   days on market $115,000 Active 239 DOM
5. 2026-11-04
   days on market $115,000 Active 238 DOM
6. 2026-11-02
   days on market $115,000 Active 236 DOM
7. 2026-11-01
   days on market $115,000 Active 235 DOM
8. 2026-10-31
   days on market $115,000 Active 234 DOM
9. 2026-10-30
   days on market $115,000 Active 233 DOM
10. 2026-10-29
    days on market $115,000 Active 232 DOM
11. 2026-10-28
    days on market $115,000 Active 231 DOM
12. 2026-10-27
    days on market $115,000 Active 230 DOM
13. 2026-10-26
    days on market $115,000 Active 229 DOM
14. 2026-10-25
    days on market $115,000 Active 228 DOM
15. 2026-10-24
    days on market $115,000 Active 227 DOM
16. 2026-10-23
    days on market $115,000 Active 226 DOM
17. 2026-10-22
    days on market $115,000 Active 225 DOM
18. 2026-10-21
    days on market $115,000 Active 224 DOM
19. 2026-10-20
    days on market $115,000 Active 223 DOM
20. 2026-10-19
    days on market $115,000 Active 222 DOM
21. 2026-10-18
    days on market $115,000 Active 221 DOM
22. 2026-10-17
    days on market $115,000 Active 220 DOM
23. 2026-10-16
    days on market $115,000 Active 219 DOM
24. 2026-10-15
    days on market $115,000 Active 218 DOM
25. 2026-10-14
    days on market $115,000 Active 217 DOM
26. 2026-10-13
    days on market $115,000 Active 216 DOM
27. 2026-10-12
    days on market $115,000 Active 215 DOM
28. 2026-10-11
    days on market $115,000 Active 214 DOM
29. 2026-10-10
    days on market $115,000 Active 213 DOM
30. 2026-10-09
    days on market $115,000 Active 212 DOM
31. 2026-10-08
    days on market $115,000 Active 211 DOM
32. 2026-10-07
    days on market $115,000 Active 210 DOM
33. 2026-10-06
    days on market $115,000 Active 209 DOM
34. 2026-10-05
    days on market $115,000 Active 208 DOM
35. 2026-10-04
    days on market $115,000 Active 207 DOM
36. 2026-10-03
    days on market $115,000 Active 206 DOM
37. 2026-10-02
    days on market $115,000 Active 205 DOM
38. 2026-10-01
    pricedays on market $115,000 Active 204 DOM
39. 2026-09-30
    days on market $130,000 Active 203 DOM
40. 2026-09-29
    days on market $130,000 Active 202 DOM
41. 2026-09-28
    days on market $130,000 Active 201 DOM
42. 2026-09-27
    days on market $130,000 Active 200 DOM
43. 2026-09-26
    days on market $130,000 Active 199 DOM
44. 2026-09-25
    days on market $130,000 Active 198 DOM
45. 2026-09-24
    days on market $130,000 Active 197 DOM
46. 2026-09-24
    days on market $130,000 Active 196 DOM
47. 2026-09-22
    days on market $130,000 Active 195 DOM
48. 2026-09-21
    days on market $130,000 Active 194 DOM
49. 2026-09-20
    days on market $130,000 Active 193 DOM
50. 2026-09-18
    days on market $130,000 Active 191 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥115°F today · 15 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: $15,691
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − HOA: −$8,088
• − Depreciation: −$3,345
• Taxable loss: −$6,995
• Est. tax savings @ 24.0%: +$1,679
• After-tax cash flow: $-3,550/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

Good 75/100 Cosmetic rehab Est. rehab $2,750–$8,250 screening

This well-maintained and fully furnished condo is ready for immediate occupancy and offers stunning lake views. Minor cosmetic updates could further enhance its appeal.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and resale value ↑
• Both Replace the air filters — Improves air quality and HVAC efficiency ↑
• Both Upgrade the flooring — Modernizes the space and increases resale value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Smoketree Elementary School F AZ #418/1,109 Nat'l #20,973/41,679 Middle Thunderbolt Middle School F AZ #81/218 Nat'l #8,750/14,009 High Lake Havasu High School F AZ #111/381 Nat'l #10,806/17,239

Schools (NCES district)

• District: Lake Havasu Unified District (4368)
• NCES district ID: 0404280
• Math proficiency: 39% ▼ -16.00%
• Reading proficiency: 41% ▼ -8.00%
• Median HH income: $43,993
• Composite: 33.92/100
• National rank: #5339
• State rank: #66 of 249 in AZ

C Composite livability gradescore 63/100

Livability — Lake Havasu City

• Score: 63/100
• State rank: #124
• US rank: #15839

Category grades

Amenities F Commute F Cost of living B- Crime C Employment C Housing A Health & safety C- User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Havasu City, AZ
• County: Mohave County · 209,184 people
• City population: 62,596
• Metro: Lake Havasu City-Kingman, AZ
• Population (ZIP): 18,295
• Household income: $58,967
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 9% of renters

---

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 19% Two or more races 12%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Languages at home: 91% English-only · Spanish 8%

---

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: ▼ -194.25%
• Current HPI: 384.7996
• Rent YoY: ▲ 3.43%
• 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

+160.0% since first listed

5 events — show timeline

• 2026-03-11 Listed $130,000 LHAR
• 2015-05-01 Sold (MLS) $48,000 WARDEX
• 2015-05-01 Sold (MLS) $48,000 LHAR
• 2013-08-04 Listed $50,000 WARDEX
• 2013-08-04 Listed $50,000 LHAR