I think its hard to know until you put a little time into the engine and see if you can get it to run. It doesn't necessarily need to be rebuilt.
Since you're in AZ, you don't have to worry about the metal much.
So whats left? Paint and interior. If you're not planning on restoring it, you can get a decent driver paint job at Maaco, or even try the Rustoleum foam roller job for cheap.
I don't know much about the interior, but some people on here have done their own.
So, again - it comes down to the engine and whether you can get it to run, and what shape you want this car to be in once it is a driver.