2070 E Gleeson Rd · Tombstone, AZ 85638

$139,000

2 bd · 2.0 ba · 896 sqft · SingleFamily · 123 Days on market

Built 2025 Excellent condition 1.82 ac lot $155/sqft · 18% below area Est $169k · 18% under ↓ 37% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• Appreciation +6.4/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.1/10.0
• DSCR +1.7/10.0

Listing remarks MLS

Don't miss this incredible opportunity to own a brand-new home in historic Tombstone, surrounded by breathtaking mountain views. Purchase the home as-is and make it your own. Or take advantage of a unique opportunity to have it completed and customized by a respected local licensed contractor with $30,000 down payment, you can customize your dream home with your choice of paint colors, countertops, flooring, cabinetry and appliances and even add an additional bedroom- creating a space that perfectly reflects your style and vision. Enjoy small-town charm, rich history, and stunning desert scenery all in one exceptional property!

Key facts

• Historic tombstone
• Desert scenery
• Rich history

Tags

• MOUNTAIN VIEWS
• HISTORIC TOMBSTONE
• RICH HISTORY
• DESERT SCENERY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $139k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (17.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (27.5% below list).
• Recommended offer: $101k (27.5% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.3% in Tombstone — 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 67/100 on livability (#62 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Tombstone Unified District (4168) (rural): math 21% / reading 30% proficiency, ranked #150 of 249 in AZ (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tombstone High School (math 17% / reading 12%, grade F, #267 of 381 statewide, top 72%, 451 students, 39% FRL) — zoned schools average 39% FRL vs 60% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 53 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 437 units permitted in Cochise County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($961 loan paydown + $4k appreciation (2.7% local appreciation)).
• Cochise County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $100,750 (27.5% 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 123 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.72% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.08%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

• ARV (median comp): $169,000
• List price: $139,000
• Delta: -17.75%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1387 N Saddleback Cir	0.36mi	2/2.0	1,000 (+12%)	4mo	$249,000	$249	60
1640 San Pedro Way	0.40mi	2/2.0	960 (+7%)	13mo	$238,000	$248	58
1476 N Pony Pl	0.63mi	2/1.0	880 (-2%)	12mo	$200,000	$227	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.11×
• Total profit: $4,349
• Equity at exit: $60,455

10-year hold

• IRR: 5.6%
• Equity multiple: 1.84×
• Total profit: $32,639
• Equity at exit: $91,609

Cash invested: $38,920 (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 85638

• Home prices YoY: 1.6%
• Active inventory: 53
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,008 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $-165

Break-even live

Break-even rent $1,216

Max offer price $115,172

Occupancy floor —

Sensitivity live

Price	-10% $-69	-5% $-117	+0% $-165	+5% $-213	+10% $-261
Rent	-10% $-244	-5% $-204	+0% $-165	+5% $-125	+10% $-85
Rate	-1.0pp $-95	-0.5pp $-129	base $-165	+0.5pp $-201	+1.0pp $-237

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245 N 2nd St Unit 265 Tombstone, AZ	2.0	1.0	600	$800	$1.33	45d	1	1.29mi
401 S Skyline Cir Unit 01 Tombstone, AZ	2.0	1.0	700	$1,195	$1.71	45d	1	1.36mi

Listing history 24 events

1. 2026-06-21
   days on market $139,000 Active 123 DOM
2. 2026-06-19
   days on market $139,000 Active 121 DOM
3. 2026-06-18
   days on market $139,000 Active 120 DOM
4. 2026-06-17
   days on market $139,000 Active 119 DOM
5. 2026-06-16
   days on market $139,000 Active 118 DOM
6. 2026-06-15
   days on market $139,000 Active 117 DOM
7. 2026-06-14
   days on market $139,000 Active 115 DOM
8. 2026-06-12
   days on market $139,000 Active 114 DOM
9. 2026-06-09
   days on market $139,000 Active 111 DOM
10. 2026-06-08
    days on market $139,000 Active 110 DOM
11. 2026-06-07
    days on market $139,000 Active 109 DOM
12. 2026-06-05
    days on market $139,000 Active 106 DOM
13. 2026-06-03
    days on market $139,000 Active 105 DOM
14. 2026-06-02
    days on market $139,000 Active 104 DOM
15. 2026-06-01
    days on market $139,000 Active 103 DOM
16. 2026-05-31
    days on market $139,000 Active 102 DOM
17. 2026-05-30
    days on market $139,000 Active 101 DOM
18. 2026-04-17
    price $139,000 635-char remark

    Show marketing remark (635 chars)

    Don't miss this incredible opportunity to own a brand-new home in historic Tombstone, surrounded by breathtaking mountain views. Purchase the home as-is and make it your own. Or take advantage of a unique opportunity to have it completed and customized by a respected local licensed contractor with $30,000 down payment, you can customize your dream home with your choice of paint colors, countertops, flooring, cabinetry and appliances and even add an additional bedroom- creating a space that perfectly reflects your style and vision. Enjoy small-town charm, rich history, and stunning desert scenery all in one exceptional property!

19. 2026-02-17
    listed $150,000 Active 635-char remark

    Show marketing remark (635 chars)

    Don't miss this incredible opportunity to own a brand-new home in historic Tombstone, surrounded by breathtaking mountain views. Purchase the home as-is and make it your own. Or take advantage of a unique opportunity to have it completed and customized by a respected local licensed contractor with $30,000 down payment, you can customize your dream home with your choice of paint colors, countertops, flooring, cabinetry and appliances and even add an additional bedroom- creating a space that perfectly reflects your style and vision. Enjoy small-town charm, rich history, and stunning desert scenery all in one exceptional property!

20. 2026-01-19
    historical
21. 2025-10-18
    price $195,000
22. 2025-07-19
    status Active
23. 2025-07-19
    historical
24. 2025-07-18
    listed $220,000 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: $12,090
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$4,044
• Taxable loss: −$4,454
• Est. tax savings @ 24.0%: +$1,069
• After-tax cash flow: $-907/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

Excellent 95/100 None rehab

This new construction home in Tombstone, AZ, is in excellent condition with no visible repairs or maintenance needed. It offers a unique opportunity to customize the interior and exterior to reflect personal style and vision, making it an attractive investment.

Value-add opportunities

• Both Painting the exterior and interior — Painting enhances curb appeal and interior aesthetics, which can increase both resale and rental value.
• Both Landscaping — Landscaping can improve curb appeal and add value to the property, making it more attractive to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Painting enhances curb appeal and interior aesthetics, which can increase both resale and rental value. ↑
• Both Landscaping — Landscaping can improve curb appeal and add value to the property, 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: Tombstone Unified District (4168)
• NCES district ID: 0408600
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $38,694
• Composite: 21.36/100
• National rank: #8362
• State rank: #150 of 249 in AZ

Livability — Tombstone

• Score: 67/100
• State rank: #62
• US rank: #10694

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tombstone, AZ
• Population (ZIP): 1,621

Population outlook (Cochise County) Hauer SSP2

• Today (2025): 113,402 people
• By 2030: 106,197 · -6.4%
• By 2040: 92,166 · -18.7%
• By 2050: 79,805 · -29.6%
• By 2075: 56,831 · -49.9%
• By 2100: 35,103 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Cochise

• 2024 margin: Strong R (+23.1) · D 37.8% · R 61.0% · Other 1.2%
• 2008→2024 swing: -2.5pp toward R · 2008: -20.7pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.6 2016: R+22.6 2012: R+24.0 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.74%
• Current HPI: 170.7589
• 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

-36.8% since first listed

7 events — show timeline

• 2026-04-17 Price Changed $139,000 ARMLS
• 2026-02-17 Listed $150,000 ARMLS
• 2026-01-19 Listing Removed — ARMLS
• 2025-10-18 Price Changed $195,000 ARMLS
• 2025-07-19 Relisted — ARMLS
• 2025-07-19 Listing Removed — ARMLS
• 2025-07-18 Listed $220,000 ARMLS