206 N Sunshine Blvd · Eloy, AZ 85131

$795,000

None bd · None ba · — sqft · MultiFamily · 41 Days on market

Built 1952 0.53 ac lot

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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
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Incredible upside potential. 150 ft frontage on Sunshine Blvd. 13-unit MF complex incl. a 1,263 sf wood frame 4 BR home (now used for storage) remodel for extra income when leased out. 7, 1BR apts, 1 sm studio, 4 studios. On-Site Mgr's Unit (1 BR). Ample electrical w/800 amp underground main feed & 4 sub-panels, showers, sinks, toilets, water heaters, upgraded throughout. Owned laundry-conveys. Low maint units, tile and/or laminate floors throughout.

Key facts

• 0.53 acre lot
• 20 parking spots
• Built 1952

Property features AI

Exterior

• Parking: 20 total parking spaces; 20 open parking spaces; RV access/parking; Assigned parking; One space per unit
• Utilities: Electric service: APS; Public sewer; City franchise water
• Home design: Fee simple ownership
• Construction: Painted stucco and block construction; Composition roof; Two buildings
• Exterior features: Painted stucco and block construction; Composition roof; Asphalt road access; Lot roughly 150 x 155; Two buildings on the property; No community pool

Interior

• Kitchen: Refrigerator; Free-standing electric oven
• Flooring: Laminate; Carpet; Ceramic tile
• Heating & cooling: Has heating (other type); Window/wall cooling unit
• Interior features: Refrigerator; Free-standing electric oven

What this means for you Summary

Snapshot

• This is a 8×1bd/1ba + 5×?bd/?ba units multifamily listed at $795k.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive. Per door: $393/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $795k).
• Recommended offer: $771k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 1.3% in Eloy — 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 (#78 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities D-, commute F.
• Santa Cruz Valley Union High School District (4454) (town): math 11% / reading 30% proficiency, ranked #382 of 501 in AZ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Santa Cruz Valley Union High School (math 15% / reading 24%, grade F, #230 of 381 statewide, top 61%, 340 students, 78% FRL).
• Market conditions: 440 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 9,504 units permitted in Pinal County in 2024 (776 in 5+ unit buildings).
• At $13,421/mo this rent would consume 285% of the median local household income ($57k/yr) (locally 301% 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 $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $223k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($771k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 10y 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.
• Current owner paid $520k; list at $795k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $771,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.69% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.54%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.6%
• Equity multiple: 1.88×
• Total profit: $196,743
• Equity at exit: $118,537

10-year hold

• IRR: 29.7%
• Equity multiple: 3.66×
• Total profit: $591,102
• Equity at exit: $68,737

Cash invested: $222,600 (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 85131

• Home prices YoY: -25.9%
• Active inventory: 440
• Price-to-rent: 64.2×

Monthly cashflow live

• Estimated rent: $13,421 high
• Mortgage (P&I): −$4,169
• Tax est. 1.5%: −$994 /mo · $11,925/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,818
• Net cashflow: $5,109

Break-even live

Break-even rent $6,955

Max offer price $795,000

Occupancy floor 57%

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$8,264
▸ 5× units	0	0	$5,160
Total (13 units)			$13,421

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 N D St Eloy, AZ	2.0–3.0	1.0	875	$850	$0.97	1d	4	0.10mi
403 N Sunshine Blvd Eloy, AZ	2.0	1.0	—	$1,145	—	11d	1	0.11mi
403 N Sunshine Blvd Unit C Eloy, AZ	2.0	1.0	805	$1,145	$1.42	1d	1	0.11mi
403 N Sunshine Blvd Unit A Eloy, AZ	2.0	1.0	—	$1,095	—	2d	1	0.11mi
403 N Sunshine Blvd Unit A Eloy, AZ	2.0	1.0	805	$1,095	$1.36	2d	1	0.11mi
204 N E St Eloy, AZ	3.0	2.0	1572	$1,200	$0.76	1d	1	0.37mi
810 N Curiel St Unit A Eloy, AZ	2.0	1.0	600	$1,050	$1.75	1d	1	0.64mi
507 W Alsdorf Rd Eloy, AZ	1.0	1.0	675	$995	$1.47	1d	1	0.84mi

Listing history 46 events

1. 2026-06-18
   days on market $795,000 Active 41 DOM
2. 2026-06-17
   days on market $795,000 Active 40 DOM
3. 2026-06-16
   days on market $795,000 Active 39 DOM
4. 2026-06-15
   days on market $795,000 Active 38 DOM
5. 2026-06-13
   days on market $795,000 Active 36 DOM
6. 2026-06-13
   days on market $795,000 Active 35 DOM
7. 2026-06-09
   days on market $795,000 Active 32 DOM
8. 2026-06-08
   days on market $795,000 Active 31 DOM
9. 2026-06-07
   days on market $795,000 Active 30 DOM
10. 2026-06-04
    days on market $795,000 Active 27 DOM
11. 2026-06-03
    days on market $795,000 Active 26 DOM
12. 2026-06-02
    days on market $795,000 Active 25 DOM
13. 2026-06-01
    days on market $795,000 Active 24 DOM
14. 2026-05-31
    days on market $795,000 Active 23 DOM
15. 2026-05-08
    listed $795,000 Active
16. 2022-09-21
    soldstatus $520,000 Closed 463-char remark

    Show marketing remark (463 chars)

    Incredible upside potential. 150 ft frontage on Sunshine Blvd. 13-unit MF complex incl. a 1,263 sf wood frame 4 BR home (now used for storage) remodel for extra income when leased out. 7, 1BR apts, 1 sm studio, 4 studios. On-Site Mgr's Unit (1 BR). Ample electrical w/800 amp underground main feed & 4 sub-panels, showers, sinks, toilets, water heaters, upgraded throughout. Owned laundry-conveys. Low maint units, tile and/or laminate floors throughout.

17. 2022-09-14
    status Pending 463-char remark

    Show marketing remark (463 chars)

    Incredible upside potential. 150 ft frontage on Sunshine Blvd. 13-unit MF complex incl. a 1,263 sf wood frame 4 BR home (now used for storage) remodel for extra income when leased out. 7, 1BR apts, 1 sm studio, 4 studios. On-Site Mgr's Unit (1 BR). Ample electrical w/800 amp underground main feed & 4 sub-panels, showers, sinks, toilets, water heaters, upgraded throughout. Owned laundry-conveys. Low maint units, tile and/or laminate floors throughout.

18. 2022-08-31
    price $575,300 463-char remark

    Show marketing remark (463 chars)

    Incredible upside potential. 150 ft frontage on Sunshine Blvd. 13-unit MF complex incl. a 1,263 sf wood frame 4 BR home (now used for storage) remodel for extra income when leased out. 7, 1BR apts, 1 sm studio, 4 studios. On-Site Mgr's Unit (1 BR). Ample electrical w/800 amp underground main feed & 4 sub-panels, showers, sinks, toilets, water heaters, upgraded throughout. Owned laundry-conveys. Low maint units, tile and/or laminate floors throughout.

19. 2022-08-09
    listed $625,000 Active 463-char remark

    Show marketing remark (463 chars)

    Incredible upside potential. 150 ft frontage on Sunshine Blvd. 13-unit MF complex incl. a 1,263 sf wood frame 4 BR home (now used for storage) remodel for extra income when leased out. 7, 1BR apts, 1 sm studio, 4 studios. On-Site Mgr's Unit (1 BR). Ample electrical w/800 amp underground main feed & 4 sub-panels, showers, sinks, toilets, water heaters, upgraded throughout. Owned laundry-conveys. Low maint units, tile and/or laminate floors throughout.

20. 2022-03-19
    historical
21. 2022-03-14
    status Active
22. 2022-02-25
    historical Under Contract Accepting Backups
23. 2022-02-07
    status Active
24. 2022-01-31
    status Pending
25. 2021-11-30
    historical Under Contract Accepting Backups
26. 2021-11-20
    price $774,400
27. 2021-11-10
    listed $776,114 Active
28. 2018-10-13
    historical
29. 2018-09-28
    price $393,900
30. 2018-09-12
    price $418,500
31. 2018-09-04
    price $429,000
32. 2018-08-06
    status Active
33. 2018-08-02
    historical Under Contract Accepting Backups
34. 2018-07-10
    status Active
35. 2018-06-23
    historical Under Contract Accepting Backups
36. 2018-06-17
    price $435,000
37. 2018-05-28
    price $465,000
38. 2018-04-26
    listed $485,000 Active
39. 2017-11-11
    historical
40. 2017-11-09
    status Active
41. 2017-10-14
    status Pending
42. 2017-07-05
    price $350,000
43. 2017-03-08
    price $369,900
44. 2017-01-18
    status Active
45. 2016-12-22
    status Pending
46. 2016-10-15
    listed $395,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 21 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: $161,052
• − Mortgage interest: −$44,532
• − Property taxes: −$11,925
• − Insurance: −$3,975
• − Repairs & maintenance: −$12,884
• − Management: −$12,884
• − Depreciation: −$23,127
• Taxable income: $51,724
• Est. tax owed @ 24.0%: −$12,414
• After-tax cash flow: $48,889/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: Santa Cruz Valley Union High School District (4454)
• NCES district ID: 0407530
• Math proficiency: 11% ▲ 1.00%
• Reading proficiency: 30% ▲ 15.00%
• Median HH income: $24,927
• Composite: 19.12/100
• National rank: #13971
• State rank: #382 of 501 in AZ

Livability — Eloy

• Score: 65/100
• State rank: #78
• US rank: #12496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eloy, AZ
• County: Pinal County · 399,947 people
• City population: 18,794
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 18,794
• Household income: $56,576
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 301.0

Population outlook (Pinal County) Hauer SSP2

• Today (2025): 437,574 people
• By 2030: 446,903 · +2.1%
• By 2040: 452,589 · +3.4%
• By 2050: 444,126 · +1.5%
• By 2075: 430,300 · -1.7%
• By 2100: 393,536 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 47% White 36% Two or more races 16% Black 8% Native American 5% Pacific Islander 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 4% Slovak 1% Lithuanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 65% English-only · Spanish 32% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pinal

• 2024 margin: Strong R (+22.1) · D 38.5% · R 60.6%
• 2008→2024 swing: -7.6pp toward R · 2008: -14.5pp · 2024: -22.1pp
• All cycles: 2024: R+22.1 2020: R+17.3 2016: R+19.3 2012: R+17.1 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.00%
• Current HPI: 171.3217
• Rent YoY: —
• Metro: Phoenix-Mesa-Chandler, 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

+101.3% since first listed

32 events — show timeline

• 2026-05-08 Listed $795,000 ARMLS
• 2022-09-21 Sold (MLS) $520,000 ARMLS
• 2022-09-14 Pending — ARMLS
• 2022-08-31 Price Changed $575,300 ARMLS
• 2022-08-09 Listed $625,000 ARMLS
• 2022-03-19 Listing Removed — ARMLS
• 2022-03-14 Relisted — ARMLS
• 2022-02-25 Contingent — ARMLS
• 2022-02-07 Relisted — ARMLS
• 2022-01-31 Pending — ARMLS
• 2021-11-30 Contingent — ARMLS
• 2021-11-20 Price Changed $774,400 ARMLS
• 2021-11-10 Listed $776,114 ARMLS
• 2018-10-13 Listing Removed — ARMLS
• 2018-09-28 Price Changed $393,900 ARMLS
• 2018-09-12 Price Changed $418,500 ARMLS
• 2018-09-04 Price Changed $429,000 ARMLS
• 2018-08-06 Relisted — ARMLS
• 2018-08-02 Contingent — ARMLS
• 2018-07-10 Relisted — ARMLS
• 2018-06-23 Contingent — ARMLS
• 2018-06-17 Price Changed $435,000 ARMLS
• 2018-05-28 Price Changed $465,000 ARMLS
• 2018-04-26 Listed $485,000 ARMLS
• 2017-11-11 Listing Removed — ARMLS
• 2017-11-09 Relisted — ARMLS
• 2017-10-14 Pending — ARMLS
• 2017-07-05 Price Changed $350,000 ARMLS
• 2017-03-08 Price Changed $369,900 ARMLS
• 2017-01-18 Relisted — ARMLS
• 2016-12-22 Pending — ARMLS
• 2016-10-15 Listed $395,000 ARMLS