120 S Elota Ave · Ajo, AZ 85321

$103,500

2 bd · 1.0 ba · 837 sqft · SingleFamily public records · 91 Days on market

Built 1948 6,752 sqft lot $124/sqft · 24% below area Est $136k · 24% under

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming bungalow in the heart of historic Ajo, where Arizona's copper mining legacy meets Sonoran Desert character. This two-bedroom, one-bathroom home sits on a deep, oversized lot with instant income potential: the property is thoughtfully configured with RV parking, rear alley access, and a detached garage featuring a dedicated workshop space ideal for extended-stay visitors exploring Organ Pipe Cactus National Monument or those seeking affordable winter lodging in this hidden gem of a community. The covered patio invites year-round outdoor living, while the expansive backyard offers flexibility for additional storage. Just three blocks from the iconic Spanish Colonial Revival Ajo Plaza, you're steps from local shops, dining, the post office, and public library, walkability that's rare in rural Arizona.

Key facts

• Easy access
• Detached shop
• Historic ajo

Tags

• HISTORIC AJO
• DETACHED SHOP
• DEEP SPACIOUS LOT
• CONVENIENT LOCATION
• EASY ACCESS
• THREE BLOCKS FROM AJO PLAZA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $94k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 6.9% in Ajo — 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 63/100 on livability (#115 in AZ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute D-, employment D-.
• Ajo Unified District (4409) (town): math 25% / reading 25% proficiency, ranked #343 of 501 in AZ (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ajo Elementary School (math 8% / reading 22%, grade F, #888 of 1,109 statewide, top 81%, 268 students, 75% FRL); Ajo High School (math 10% / reading 10%, grade F, #298 of 381 statewide, top 90%, 135 students, 68% FRL) — zoned schools average 71% FRL vs 56% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 12% at this address vs 25% district-wide (-13 pts) — the specific schools serving this property underperform the Ajo Unified District (4409) average; the district grade overstates school quality for this exact location.
• Market conditions: 37 active listings in the ZIP; 5,268 units permitted in Pima County in 2024 (996 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $716 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pima County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $104k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,185 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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: 1.07% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.94%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

• ARV (median comp): $136,200
• List price: $103,500
• Delta: -24.01%
• 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
301 W Estrella Ave	0.10mi	2/1.0	806 (-4%)	6mo	$175,000	$217	84
430 W Vananda Ave	0.27mi	2/1.0	810 (-3%)	9mo	$120,000	$148	74
541 W Lomita Ave	0.34mi	2/1.0	793 (-5%)	13mo	$155,000	$195	64
420 W Arroyo Ave	0.56mi	2/1.0	793 (-5%)	4mo	$139,000	$175	61
311 W Solana Ave	0.34mi	2/1.0	950 (+14%)	2mo	$190,000	$200	60
241 W 3rd Ave	0.66mi	2/1.0	780 (-7%)	5mo	$150,000	$192	54
300 W 2nd St	0.64mi	2/2.0	900 (+8%)	2mo	$147,500	$164	52
121 E 2nd Ave	0.57mi	2/1.0	926 (+11%)	14mo	$159,800	$173	44
710 W Ocotillo Ave	0.59mi	3/1.0 (+1)	905 (+8%)	15mo	$105,000	$116	42
201 E 2nd Ave	0.56mi	3/1.0 (+1)	950 (+14%)	7mo	$115,000	$121	41
441 W 1st St	0.60mi	2/2.0	918 (+10%)	14mo	$138,500	$151	40
500 W Palo Verde Ave	0.53mi	3/1.0 (+1)	950 (+14%)	15mo	$125,000	$132	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,524
• Equity at exit: $15,432

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $18,209
• Equity at exit: $8,949

Cash invested: $28,980 (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 85321

• Home prices YoY: -5.6%
• Active inventory: 37
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$543
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $240

Break-even live

Break-even rent $799

Max offer price $103,500

Occupancy floor 73%

Sensitivity live

Price	-10% $299	-5% $269	+0% $240	+5% $211	+10% $181
Rent	-10% $153	-5% $196	+0% $240	+5% $284	+10% $327
Rate	-1.0pp $292	-0.5pp $266	base $240	+0.5pp $213	+1.0pp $186

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: $25,875
• Closing costs: $3,105
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-09
   days on market $103,500 Active 91 DOM
2. 2026-06-08
   days on market $103,500 Active 90 DOM
3. 2026-06-07
   days on market $103,500 Active 89 DOM
4. 2026-06-07
   days on market $103,500 Active 88 DOM
5. 2026-06-04
   days on market $103,500 Active 85 DOM
6. 2026-06-02
   days on market $103,500 Active 84 DOM
7. 2026-06-01
   days on market $103,500 Active 83 DOM
8. 2026-05-31
   days on market $103,500 Active 82 DOM
9. 2026-05-31
   days on market $103,500 Active 81 DOM
10. 2026-05-11
    price $103,500 834-char remark

    Show marketing remark (834 chars)

    Welcome to this charming bungalow in the heart of historic Ajo, where Arizona's copper mining legacy meets Sonoran Desert character. This two-bedroom, one-bathroom home sits on a deep, oversized lot with instant income potential: the property is thoughtfully configured with RV parking, rear alley access, and a detached garage featuring a dedicated workshop space ideal for extended-stay visitors exploring Organ Pipe Cactus National Monument or those seeking affordable winter lodging in this hidden gem of a community. The covered patio invites year-round outdoor living, while the expansive backyard offers flexibility for additional storage. Just three blocks from the iconic Spanish Colonial Revival Ajo Plaza, you're steps from local shops, dining, the post office, and public library, walkability that's rare in rural Arizona.

11. 2026-04-09
    price $109,250 834-char remark

    Show marketing remark (834 chars)

    Welcome to this charming bungalow in the heart of historic Ajo, where Arizona's copper mining legacy meets Sonoran Desert character. This two-bedroom, one-bathroom home sits on a deep, oversized lot with instant income potential: the property is thoughtfully configured with RV parking, rear alley access, and a detached garage featuring a dedicated workshop space ideal for extended-stay visitors exploring Organ Pipe Cactus National Monument or those seeking affordable winter lodging in this hidden gem of a community. The covered patio invites year-round outdoor living, while the expansive backyard offers flexibility for additional storage. Just three blocks from the iconic Spanish Colonial Revival Ajo Plaza, you're steps from local shops, dining, the post office, and public library, walkability that's rare in rural Arizona.

12. 2026-03-10
    listed $115,000 Active 834-char remark

    Show marketing remark (834 chars)

    Welcome to this charming bungalow in the heart of historic Ajo, where Arizona's copper mining legacy meets Sonoran Desert character. This two-bedroom, one-bathroom home sits on a deep, oversized lot with instant income potential: the property is thoughtfully configured with RV parking, rear alley access, and a detached garage featuring a dedicated workshop space ideal for extended-stay visitors exploring Organ Pipe Cactus National Monument or those seeking affordable winter lodging in this hidden gem of a community. The covered patio invites year-round outdoor living, while the expansive backyard offers flexibility for additional storage. Just three blocks from the iconic Spanish Colonial Revival Ajo Plaza, you're steps from local shops, dining, the post office, and public library, walkability that's rare in rural Arizona.

13. 2024-07-30
    status Pending
14. 2024-07-30
    historical
15. 2024-07-12
    listed $110,000 Active
16. 2007-01-11
    soldstatus $65,000
17. 2003-03-18
    soldstatus $50,000

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $683 · $57/mo
• Expected delta: +$135/yr (+$11/mo · 24.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,238
• − Mortgage interest: −$5,798
• − Property taxes: −$548
• − Insurance: −$518
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,011
• Taxable income: $1,246
• Est. tax owed @ 24.0%: −$299
• After-tax cash flow: $2,580/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: Ajo Unified District (4409)
• NCES district ID: 0400520
• Math proficiency: 25% ▼ -2.00%
• Reading proficiency: 25% ▼ -3.00%
• Median HH income: $34,237
• Composite: 23.59/100
• National rank: #13264
• State rank: #343 of 501 in AZ

Livability — Ajo

• Score: 63/100
• State rank: #115
• US rank: #15321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ajo, AZ
• Population (ZIP): 4,313

Population outlook (Pima County) Hauer SSP2

• Today (2025): 1,066,056 people
• By 2030: 1,086,684 · +1.9%
• By 2040: 1,117,160 · +4.8%
• By 2050: 1,149,778 · +7.9%
• By 2075: 1,271,480 · +19.3%
• By 2100: 1,321,160 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 25% Two or more races 19% Native American 15% Asian 1%
• Hispanic origin (detail): Mexican 20% Puerto Rican 5%
• Common ancestry: Lithuanian 4% Slovak 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 78% English-only · Spanish 15% Tagalog/Filipino 1%

Political lean MEDSL · Pima

• 2024 margin: D (+15.2) · D 57.0% · R 41.8% · Other 1.2%
• 2008→2024 swing: +9.1pp toward D · 2008: 6.1pp · 2024: 15.2pp
• All cycles: 2024: D+15.2 2020: D+18.7 2016: D+13.5 2012: D+5.8 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.38%
• Current HPI: 173.7704
• 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

+107.0% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $103,500 ARMLS
• 2026-04-09 Price Changed $109,250 ARMLS
• 2026-03-10 Listed $115,000 ARMLS
• 2024-07-30 Pending — ARMLS
• 2024-07-30 Listing Removed — ARMLS
• 2024-07-12 Listed $110,000 ARMLS
• 2007-01-11 Sold (Public Records) $65,000 Public Records
• 2003-03-18 Sold (Public Records) $50,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $548 · +4.9% YoY. Source: county tax records.