200 Lee Ave · Bullhead City, AZ 86429

$233,900

3 bd · 1.0 ba · 1,365 sqft · SingleFamily public records · 139 Days on market

Built 1967 6,098 sqft lot Est $213k · 10% over

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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 +21.6/30.0
• DSCR +6.9/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +2.2/10.0
• Schools +1.6/10.0

Listing remarks

Updated Brick Home Near the Colorado River with Bonus Room, Gated Yards & Boat Parking Welcome to 200 Lee Ave in Bullhead City an updated single-level brick home located minutes from the Colorado River, Laughlin casinos, dining, and entertainment. This property combines durability, flexibility, and lifestyle appeal, making it ideal as a primary residence, second home, or investment property. Inside, the home offers 3 bedrooms plus a bonus family or game room that can function as a media room, guest space, or entertainment area. The layout provides comfortable flow between living areas while maintaining privacy when needed. A new roof installed in 2021 adds long-term value and peace

Key facts

• Boat parking
• Updated brick home
• Bonus room

Tags

• BONUS ROOM
• GATED YARDS
• BOAT PARKING
• UPDATED BRICK HOME
• ENCLOSED BACKYARD
• CLOSE TO COLORADO RIVER

Property features AI

Finance

• Other: Directions: Hwy 95 to 5th Street, turn east to Lee Ave, left on Lee (200 Lee Ave).; Cross street: 6th St; Listing broker: US SOUTHWEST®; Listing agent contact available
• Financial info: Financial details not specified
• HOA & community: Subdivision: Oasis Park

Exterior

• Parking: Parking details not specified
• Security: Security details not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Brick construction; Shingle roof; R2 zoning allowing multifamily
• Construction: Brick construction; Shingle roof; One-level design
• Exterior features: Covered patio; Patio; Block and chain-link fencing in front and back yard; Shed(s); Has a view; Paved road access

Interior

• Kitchen: Disposal; Gas oven; Gas range; Refrigerator
• Bedrooms: Details not specified
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Breakfast bar; Ceiling fans; Granite counters; Kitchen island; Open floorplan; Window coverings; ENERGY STAR qualified appliances
• Laundry & utility: Electric dryer hookup; Gas dryer hookup; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (4.8% below list).
• Recommended offer: $206k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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, crime D-.
• 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.
• Zoned schools: Sunrise Elementary (math 17% / reading 17%, grade F, #814 of 1,109 statewide, top 76%, 434 students, 77% FRL); Fox Creek Jr High School (math 12% / reading 17%, grade F, #160 of 218 statewide, top 75%, 516 students, 65% FRL); Mohave High School (math 14% / reading 21%, grade F, #245 of 381 statewide, top 65%, 1,175 students, 51% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 328 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,543 units permitted in Mohave County in 2024 (33 in 5+ unit buildings).
• At $2,228/mo this rent would consume 45% 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 $2k of loan paydown is wiped out by about $7k 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 139 days — a 12% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 12y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $212,940
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Palm Ave	0.06mi	2/2.0 (-1)	1,420 (+4%)	14mo	$205,000	$144	70
461 Long Ave	0.55mi	3/3.0	1,330 (-3%)	8mo	$207,000	$156	56

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-21,787
• Equity at exit: $34,875

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-15,316
• Equity at exit: $20,223

Cash invested: $65,492 (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: 328
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,228 high
• Mortgage (P&I): −$1,227
• Tax from tax record: −$79 /mo · $946/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $357

Break-even live

Break-even rent $1,776

Max offer price $233,900

Occupancy floor 79%

Sensitivity live

Price	-10% $489	-5% $423	+0% $357	+5% $291	+10% $225
Rent	-10% $181	-5% $269	+0% $357	+5% $445	+10% $533
Rate	-1.0pp $475	-0.5pp $417	base $357	+0.5pp $296	+1.0pp $235

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: $58,475
• Closing costs: $7,017
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Moser Ave Bullhead City, AZ	3.0	2.0	1610	$2,800	$1.74	15d	1	0.20mi
2447 Rio Dr Unit 1545726P Bullhead City, AZ	3.0	2.0	1399	$3,090	$2.21	15d	1	0.24mi
231 Moser Ave Unit 3F 1 Bullhead City, AZ	3.0	2.0	1555	$2,700	$1.74	15d	1	0.24mi
320 Lee Ave Bullhead City, AZ	2.0	1.0	675	$1,100	$1.63	15d	1	0.24mi
441 Moser Ave Bullhead City, AZ	1.0–3.0	1.0–2.0	883	$1,800	$2.04	15d	3	0.54mi
188 Sundance Shores Dr Laughlin, NV	4.0	2.0	1482	$1,600	$1.08	9d	1	0.62mi
168 Sundance Shores Dr Laughlin, NV	3.0	2.0	1482	$1,400	$0.94	45d	1	0.64mi

Listing history 50 events

1. 2026-06-21
   days on market $233,900 Active 139 DOM
2. 2026-06-18
   days on market $233,900 Active 136 DOM
3. 2026-06-17
   days on market $233,900 Active 135 DOM
4. 2026-06-16
   days on market $233,900 Active 134 DOM
5. 2026-06-15
   days on market $233,900 Active 133 DOM
6. 2026-06-14
   days on market $233,900 Active 131 DOM
7. 2026-06-13
   days on market $233,900 Active 130 DOM
8. 2026-06-10
   days on market $233,900 Active 128 DOM
9. 2026-06-09
   days on market $233,900 Active 127 DOM
10. 2026-06-08
    days on market $233,900 Active 126 DOM
11. 2026-06-07
    days on market $233,900 Active 125 DOM
12. 2026-06-05
    days on market $233,900 Active 122 DOM
13. 2026-06-02
    pricedays on market $233,900 Active 120 DOM
14. 2026-06-01
    days on market $237,500 Active 119 DOM
15. 2026-05-31
    days on market $237,500 Active 118 DOM
16. 2026-05-30
    days on market $237,500 Active 117 DOM
17. 2026-04-10
    listed $237,500 Active
18. 2026-04-01
    price $237,500
19. 2026-03-05
    price $242,000
20. 2026-02-03
    listed $245,000 Active
21. 2025-12-15
    price $249,900
22. 2025-10-30
    price $255,900
23. 2025-09-26
    price $260,900
24. 2025-08-18
    price $270,500
25. 2025-08-01
    price $275,900
26. 2025-06-03
    price $280,900
27. 2025-05-13
    price $285,900
28. 2025-04-16
    listed $290,900 Active
29. 2023-12-29
    soldstatus $230,000 Closed
30. 2023-12-29
    soldstatus $230,000 Closed
31. 2023-12-29
    soldstatus $230,000
32. 2023-10-08
    status Pending
33. 2023-10-07
    status Pending
34. 2023-09-01
    status Active
35. 2023-08-27
    status Active
36. 2023-08-15
    historical
37. 2023-08-13
    status Active
38. 2023-08-11
    historical
39. 2023-08-08
    status Active
40. 2023-08-04
    historical
41. 2023-08-01
    price $255,000
42. 2023-08-01
    price $255,000
43. 2023-07-21
    price $260,000
44. 2023-07-13
    price $260,000
45. 2023-06-16
    status Active
46. 2023-06-16
    status Active
47. 2023-06-12
    status Pending
48. 2023-06-10
    status Pending
49. 2023-05-22
    listed $270,000 Active
50. 2023-05-16
    listed $270,000 Active

ⓘ 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: $946 · $79/mo
• Projected year-2 tax: $1,544 · $129/mo
• Expected delta: +$598/yr (+$50/mo · 63.2%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥114°F today · 16 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: $26,733
• − Mortgage interest: −$13,102
• − Property taxes: −$946
• − Insurance: −$1,170
• − Repairs & maintenance: −$2,139
• − Management: −$2,139
• − Depreciation: −$6,804
• Taxable income: $434
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $4,180/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

+302.5% since first listed

38 events — show timeline

• 2026-04-10 Listed $237,500 LHAR
• 2026-04-01 Price Changed $237,500 WARDEX
• 2026-03-05 Price Changed $242,000 WARDEX
• 2026-02-03 Listed $245,000 WARDEX
• 2025-12-15 Price Changed $249,900 WARDEX
• 2025-10-30 Price Changed $255,900 WARDEX
• 2025-09-26 Price Changed $260,900 WARDEX
• 2025-08-18 Price Changed $270,500 WARDEX
• 2025-08-01 Price Changed $275,900 WARDEX
• 2025-06-03 Price Changed $280,900 WARDEX
• 2025-05-13 Price Changed $285,900 WARDEX
• 2025-04-16 Listed $290,900 WARDEX
• 2023-12-29 Sold (Public Records) $230,000 Public Records
• 2023-12-29 Sold (MLS) $230,000 WARDEX
• 2023-12-29 Sold (MLS) $230,000 LHAR
• 2023-10-08 Pending — WARDEX
• 2023-10-07 Pending — LHAR
• 2023-09-01 Relisted — LHAR
• 2023-08-27 Relisted — LHAR
• 2023-08-15 Delisted — LHAR
• 2023-08-13 Relisted — WARDEX
• 2023-08-11 Delisted — WARDEX
• 2023-08-08 Relisted — WARDEX
• 2023-08-04 Delisted — WARDEX
• 2023-08-01 Price Changed $255,000 WARDEX
• 2023-08-01 Price Changed $255,000 LHAR
• 2023-07-21 Price Changed $260,000 WARDEX
• 2023-07-13 Price Changed $260,000 LHAR
• 2023-06-16 Relisted — WARDEX
• 2023-06-16 Relisted — LHAR
• 2023-06-12 Pending — LHAR
• 2023-06-10 Pending — WARDEX
• 2023-05-22 Listed $270,000 WARDEX
• 2023-05-16 Listed $270,000 LHAR
• 2021-12-30 Sold (MLS) $210,000 WARDEX
• 2021-09-11 Listed $219,900 WARDEX
• 2021-04-21 Sold (Public Records) $47,000 Public Records
• 2014-04-16 Listed $59,000 WARDEX

Property tax history

+3.7%/yr

Latest (2025): $946 · +3.2% YoY. Source: county tax records.