122 Mountain Breeze Dr · Ruidoso, NM 88345

$179,000

2 bd · 1.0 ba · 800 sqft · Other public records · 106 Days on market

4,792 sqft lot ↓ 20% 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).

• Cash flow +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +4.1/10.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience your own slice of paradise in this charming manufactured single-wide home with an add-on, featuring 2 bedrooms and 1 bathroom, located in the Upper Canyon area of Ruidoso, NM. The welcoming living area, centered around a beautiful wood-burning stone fireplace, invites you to relax after a day of mountain adventures. Enjoy the abundant natural light streaming through large windows, which provide lovely views of the surrounding landscape. The home is connected to all city utilities and offers ample parking.

Key facts

• Large windows
• Ample parking
• 4,792 sq ft lot

Tags

• WOOD-BURNING STONE FIREPLACE
• LARGE WINDOWS
• ABUNDANT NATURAL LIGHT
• AMPLE PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $179k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $163k (8.7% below list).
• Recommended offer: $163k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#40 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Ruidoso Municipal Schools (town): math 16% / reading 59% proficiency, ranked #14 of 29 in NM (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 593 active listings in the ZIP; 3 comparable units currently listed for rent nearby; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.22%
• DSCR: 1.23
• GRM: 9.1

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-15,188
• Equity at exit: $26,689

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $4,357
• Equity at exit: $15,477

Cash invested: $50,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State New Mexico: 55 Moderately Landlord-Leaning · D+3
• County: — inherits STATE
• City: — inherits STATE

3-day notice but with cure rights; relocation assistance in some cities.

Methodology + full state rankings →

ZIP-level market 88345

• Active inventory: 593
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$60 /mo · $723/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $218

Break-even live

Break-even rent $1,359

Max offer price $179,000

Occupancy floor 82%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 4th St Ruidoso, NM	3.0	2.0	1080	$2,200	$2.04	43d	1	0.64mi
108 Apache Hills Dr Unit A heuristic Ruidoso, NM	2.0	1.0	726	$1,200	$1.65	24d	1	0.96mi
106 Apache Hills Dr Unit A Ruidoso, NM	2.0	1.0	726	$1,200	$1.65	43d	1	0.97mi

Listing history 25 events

1. 2026-06-19
   days on market $179,000 Active 106 DOM
2. 2026-06-18
   days on market $179,000 Active 105 DOM
3. 2026-06-17
   days on market $179,000 Active 104 DOM
4. 2026-06-16
   days on market $179,000 Active 103 DOM
5. 2026-06-15
   days on market $179,000 Active 102 DOM
6. 2026-06-14
   days on market $179,000 Active 100 DOM
7. 2026-06-12
   days on market $179,000 Active 99 DOM
8. 2026-06-09
   days on market $179,000 Active 96 DOM
9. 2026-06-08
   days on market $179,000 Active 95 DOM
10. 2026-06-07
    days on market $179,000 Active 94 DOM
11. 2026-06-04
    days on market $179,000 Active 90 DOM
12. 2026-06-02
    days on market $179,000 Active 89 DOM
13. 2026-06-01
    days on market $179,000 Active 88 DOM
14. 2026-05-31
    days on market $179,000 Active 87 DOM
15. 2026-05-31
    days on market $179,000 Active 86 DOM
16. 2026-03-05
    listed $179,000 Active 521-char remark

    Show marketing remark (521 chars)

    Experience your own slice of paradise in this charming manufactured single-wide home with an add-on, featuring 2 bedrooms and 1 bathroom, located in the Upper Canyon area of Ruidoso, NM. The welcoming living area, centered around a beautiful wood-burning stone fireplace, invites you to relax after a day of mountain adventures. Enjoy the abundant natural light streaming through large windows, which provide lovely views of the surrounding landscape. The home is connected to all city utilities and offers ample parking.

17. 2024-10-23
    status Active
18. 2024-09-17
    status Pending
19. 2024-06-05
    price $205,000
20. 2024-04-27
    listed $225,000 Active
21. 2024-02-24
    historical Active Under Contract
22. 2023-07-10
    listed $225,000 Active
23. 2021-12-20
    soldstatus
24. 2010-04-01
    soldstatus
25. 2005-12-07
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NM · Resets to sale price

• Current annual tax: $723 · $60/mo
• Projected year-2 tax: $1,432 · $119/mo
• Expected delta: +$709/yr (+$59/mo · 98.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 Low 8 d/yr ≥86°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,620
• − Mortgage interest: −$10,027
• − Property taxes: −$723
• − Insurance: −$895
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$5,207
• Taxable loss: −$371
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $2,707/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: Ruidoso Municipal Schools
• NCES district ID: 3502310
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $44,094
• Composite: 31.68/100
• National rank: #5925
• State rank: #14 of 29 in NM

Livability — Ruidoso

• Score: 66/100
• State rank: #40
• US rank: #11996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruidoso, NM
• County: Lincoln County · 7,835 people
• City population: 7,835
• Metro: Ruidoso, NM
• Population (ZIP): 7,835
• Household income: $53,971
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 156.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 14% Native American 1% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 4% Slovak 3% Danish 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 81% English-only · Spanish 17%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.17%
• Current HPI: 141.9549
• Rent YoY: —
• Metro: Ruidoso, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-20.4% since first listed

10 events — show timeline

• 2026-03-05 Listed $179,000 RLCAR
• 2024-10-23 Relisted — RLCAR
• 2024-09-17 Pending — RLCAR
• 2024-06-05 Price Changed $205,000 RLCAR
• 2024-04-27 Listed $225,000 RLCAR
• 2024-02-24 Contingent — RLCAR
• 2023-07-10 Listed $225,000 RLCAR
• 2021-12-20 Sold (Public Records) — Public Records
• 2010-04-01 Sold (Public Records) — Public Records
• 2005-12-07 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $723 · +3.4% YoY. Source: county tax records.