221 Camino Seis St · Elephant Butte, NM 87935

$89,000

2 bd · 1.0 ba · 720 sqft · Manufactured · 13 Days on market

Built 1969 Good condition

---

Why this score? — see what drove the C 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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.4/10.0

Listing remarks

This remodeled single-wide home has a cozy, inviting feel and room to enjoy the outdoors. The covered porch creates the perfect spot for morning coffee or evening sunsets, while the fully fenced property offers privacy or space for pets and a storage shed. This property backs directly to BLM land.

Key facts

• Covered porch
• Built 1969
• Listed 12 days

Tags

• COVERED PORCH
• FULLY FENCED PROPERTY
• BACKS DIRECTLY TO BLM LAND

Property features AI

Exterior

• Parking: No garage
• Utilities: Natural gas available; Electricity connected; Natural gas connected; Propane; Septic tank
• Home design: Manufactured house; Residential property (Manufactured Home)
• Construction: Manufactured construction
• Exterior features: Chain link fencing; Irregular lot

Interior

• Kitchen: Free-Standing Range; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Free-Standing Range; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $89k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($976 rent vs $89k).

Location & tenants

• Location reads 65/100 on livability (#54 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• T Or C Municipal Schools (town): math 25% / reading 25% proficiency, ranked #29 of 29 in NM (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 104 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Sierra County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1969 — 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 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 7.6

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-4,489
• Equity at exit: $13,270

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $8,922
• Equity at exit: $7,695

Cash invested: $24,920 (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 87935

• Home prices YoY: -6.1%
• Active inventory: 104
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $976 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $156

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 79%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $89,000 Active 13 DOM
2. 2026-06-17
   days on market $89,000 Active 12 DOM
3. 2026-06-16
   days on market $89,000 Active 11 DOM
4. 2026-06-15
   days on market $89,000 Active 10 DOM
5. 2026-06-14
   days on market $89,000 Active 8 DOM
6. 2026-06-13
   days on market $89,000 Active 7 DOM
7. 2026-06-10
   days on market $89,000 Active 5 DOM
8. 2026-06-09
   days on market $89,000 Active 4 DOM
9. 2026-06-08
   days on market $89,000 Active 3 DOM
10. 2026-06-07
    remarks 298-char remark
11. 2026-06-07
    listed $89,000 Active 2 DOM

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥98°F today · 17 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: $11,708
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$937
• − Management: −$937
• − Depreciation: −$2,589
• Taxable income: $480
• Est. tax owed @ 24.0%: −$115
• After-tax cash flow: $1,753/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This remodeled single-wide home is in good condition with a good layout and modern appliances. It has a good exterior and interior, and the landscaping can be improved to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and value of the home.
• Both Landscaping — Adding landscaping can improve the curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and value of the home. ↑
• Both Landscaping — Adding landscaping can improve the curb appeal and increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: T Or C Municipal Schools
• NCES district ID: 3502610
• Math proficiency: 25% ▲ 1.00%
• Reading proficiency: 25% ▼ -7.00%
• Median HH income: $28,449
• Composite: 20.0/100
• National rank: #8666
• State rank: #29 of 29 in NM

Livability — Elephant Butte

• Score: 65/100
• State rank: #54
• US rank: #13228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elephant Butte, NM
• Population (ZIP): 1,848

Population outlook (Sierra County) Hauer SSP2

• Today (2025): 9,498 people
• By 2030: 8,580 · -9.7%
• By 2040: 6,994 · -26.4%
• By 2050: 5,914 · -37.7%
• By 2075: 4,083 · -57.0%
• By 2100: 2,499 · -73.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 15% Two or more races 13%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 2% Portuguese 1% Slovak 1%
• Foreign-born: 2%
• Languages at home: 89% English-only · Spanish 10% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Sierra

• 2024 margin: R (+19.2) · D 39.2% · R 58.3% · Other 2.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -12.1pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+21.5 2016: R+27.2 2012: R+18.9 2008: R+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.28%
• Current HPI: 143.564
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-05 Listed $89,000 NMMLS