4100 Rowe Ave · Farmington, NM 87402

$259,500

2 bd · 2.0 ba · 1,746 sqft · SingleFamily public records · 25 Days on market

Built 1964 0.67 ac lot

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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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A rare gem in Farmington! Hardwood floors grace the main living areas, complemented by an oversized utility room and tile countertops. The second bedroom currently serves as a den with two closets, while a ramp entry and other accessibility upgrades make this home truly one of a kind.

Key facts

• Tile countertops
• Hardwood floors
• 0.67 acre lot

Tags

• HARDWOOD FLOORS
• OVERSIZED UTILITY ROOM
• TILE COUNTERTOPS
• ACCESSIBILITY UPGRADES

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Natural gas available
• Home design: Single-family house; Multi/split and one-story levels; Residential property
• Exterior features: Deck

Interior

• Kitchen: Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Breakfast bar; Walk-in closet(s); Fireplace (1)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/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 $205k (21.2% below list).
• Recommended offer: $205k (21.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#38 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, commute F.
• Farmington Municipal Schools (urban): math 23% / reading 43% proficiency, ranked #23 of 95 in NM (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mesa Verde Elementary (435 students, 44% FRL); Heights Middle School (718 students, 44% FRL); Piedra Vista High (math 27% / reading 52%, grade F, #68 of 110 statewide, top 62%, 1,578 students, 47% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 91 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 78 units permitted in San Juan County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• San Juan County population projected at -51% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,533 (21.2% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.79% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 10.6

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: -14.1%
• Equity multiple: 0.49×
• Total profit: $-36,794
• Equity at exit: $38,692

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-25,633
• Equity at exit: $22,437

Cash invested: $72,660 (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 87402

• Active inventory: 91
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,045 medium
• Mortgage (P&I): −$1,361
• Tax from tax record: −$62 /mo · $747/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $85

Break-even live

Break-even rent $1,938

Max offer price $259,500

Occupancy floor 91%

Sensitivity live

Price	-10% $231	-5% $158	+0% $85	+5% $11	+10% $-62
Rent	-10% $-77	-5% $4	+0% $85	+5% $165	+10% $246
Rate	-1.0pp $215	-0.5pp $151	base $85	+0.5pp $17	+1.0pp $-51

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: $64,875
• Closing costs: $7,785
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5542 Cypress St Farmington, NM	3.0	2.0	1276	$2,400	$1.88	44d	1	0.66mi
5200 Villa View Dr Unit 16C Farmington, NM	2.0	2.5	1272	$1,600	$1.26	44d	1	0.83mi

Listing history 17 events

1. 2026-06-21
   days on market $259,500 Active 25 DOM
2. 2026-06-19
   days on market $259,500 Active 23 DOM
3. 2026-06-18
   days on market $259,500 Active 22 DOM
4. 2026-06-17
   days on market $259,500 Active 21 DOM
5. 2026-06-16
   days on market $259,500 Active 20 DOM
6. 2026-06-15
   days on market $259,500 Active 19 DOM
7. 2026-06-14
   days on market $259,500 Active 17 DOM
8. 2026-06-12
   days on market $259,500 Active 16 DOM
9. 2026-06-09
   days on market $259,500 Active 13 DOM
10. 2026-06-08
    days on market $259,500 Active 12 DOM
11. 2026-06-07
    days on market $259,500 Active 11 DOM
12. 2026-06-05
    days on market $259,500 Active 8 DOM
13. 2026-06-02
    days on market $259,500 Active 6 DOM
14. 2026-06-01
    days on market $259,500 Active 5 DOM
15. 2026-05-31
    days on market $259,500 Active 4 DOM
16. 2026-05-30
    days on market $259,500 Active 3 DOM
17. 2026-05-28
    listed $259,500 Active

ⓘ 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: $747 · $62/mo
• Projected year-2 tax: $2,076 · $173/mo
• Expected delta: +$1,329/yr (+$111/mo · 177.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 18 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: $24,544
• − Mortgage interest: −$14,536
• − Property taxes: −$747
• − Insurance: −$1,298
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$7,549
• Taxable loss: −$3,513
• Est. tax savings @ 24.0%: +$843
• After-tax cash flow: $1,858/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: Farmington Municipal Schools
• NCES district ID: 3500990
• Math proficiency: 23% —
• Reading proficiency: 43% —
• Median HH income: $51,365
• Composite: 31.5/100
• National rank: #11178
• State rank: #23 of 95 in NM

Livability — Farmington

• Score: 66/100
• State rank: #38
• US rank: #11926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington, NM
• City population: 45,229
• Population (ZIP): 10,997

Population outlook (San Juan County) Hauer SSP2

• Today (2025): 95,201 people
• By 2030: 84,154 · -11.6%
• By 2040: 63,810 · -33.0%
• By 2050: 46,929 · -50.7%
• By 2075: 21,097 · -77.8%
• By 2100: 9,410 · -90.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 54% Hispanic / Latino 24% Native American 17% Two or more races 15%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 1%

Political lean MEDSL · San Juan

• 2024 margin: Solid R (+31.7) · D 33.0% · R 64.7% · Other 2.3%
• 2008→2024 swing: -10.6pp toward R · 2008: -21.2pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+28.3 2016: R+33.1 2012: R+28.5 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.39%
• Current HPI: 207.275
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-28 Listed $259,500 SJCMLS

Property tax history

-0.5%/yr

Latest (2025): $747 · -6.7% YoY. Source: county tax records.