31 Bobcat Loop

Los Ojos, NM 87551

$67,500B-

2 bd · 1.0 ba · 837 sqft · Built 1987 · Other · Active · 240 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $861/mo
• Mortgage (P&I): −$354
• Tax + insurance: −$93
• HOA: −$33
• Vac / Maint / Mgmt: −$181
• Net cashflow: $201/mo
• Annual: $2,412/yr
• Cap rate: 9.87%
• Cash-on-cash: 12.76%
• DSCR: 1.57
• 1% rule: 1.28%
• Cash to close: $18,900

Investor read

• This is a 2-bed/1.0-bath other listed at $68k.
• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $68k).
• It's been on market 240 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($467 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 41/100 on livability (#378 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Zoned schools: Tierra Amarilla Elementary (101 students, 100% FRL); Chama Middle (40 students, 100% FRL); Escalante Middle/High School (147 students, 98% FRL).
• Market conditions: 37 active listings in the ZIP.
• Rio Arriba County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.