502 Roosevelt Ave · Mountainair, NM 87036

$107,500

2 bd · 1.0 ba · 864 sqft · SingleFamily · 329 Days on market

Built 1950 8,276 sqft lot $124/sqft · 34% below area Est $162k · 34% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• Appreciation +6.9/10.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Flexible Seller Financing Available! Seller is open to a Real Estate Contract (REC) with flexible terms. Don't wait--submit your offer today and make this home yours! * * * * Charming Mountainair Home at a Great Value! Don't miss this move-in ready opportunity in a rare price range. This home offers two bedrooms, a beautifully remodeled 3/4 bathroom, and a cozy wood-burning stove at the heart of the living space. Updated double-pane windows and laminate flooring flows throughout. Step outside to enjoy a large covered back porch, perfect for evening barbecues in the cool Mountainair air.

Key facts

• Laminate flooring
• Remodeled bathroom
• Wood burning stove

Tags

• REMODELED BATHROOM
• WOOD BURNING STOVE
• LAMINATE FLOORING
• UPDATED DOUBLE PANE WINDOWS
• LARGE COVERED BACK PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $-32 ($-384/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (16.3% below list).
• Recommended offer: $90k (16.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#188 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities C-, schools F, crime F.
• Mountainair Public Schools (rural): math 25% / reading 25% proficiency, ranked #25 of 29 in NM (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 52 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($743 loan paydown + $4k appreciation (3.9% local appreciation)).
• Torrance County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 329 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $108k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,991 (16.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 329 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $161,849
• List price: $107,500
• Delta: -33.58%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

3.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.53×
• Total profit: $16,068
• Equity at exit: $53,806

10-year hold

• IRR: 10.9%
• Equity multiple: 2.79×
• Total profit: $53,969
• Equity at exit: $87,452

Cash invested: $30,100 (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 87036

• Home prices YoY: 3.8%
• Active inventory: 52
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$564
• Tax est. 1.5%: −$134 /mo · $1,612/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $-32

Break-even live

Break-even rent $940

Max offer price $102,873

Occupancy floor 99%

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-03
   days on market $107,500 Active 329 DOM
2. 2026-06-02
   days on market $107,500 Active 328 DOM
3. 2026-06-01
   days on market $107,500 Active 327 DOM
4. 2026-05-31
   days on market $107,500 Active 326 DOM
5. 2025-10-11
   price $107,500 597-char remark

   Show marketing remark (597 chars)

   Flexible Seller Financing Available! Seller is open to a Real Estate Contract (REC) with flexible terms. Don't wait--submit your offer today and make this home yours! * * * * Charming Mountainair Home at a Great Value! Don't miss this move-in ready opportunity in a rare price range. This home offers two bedrooms, a beautifully remodeled 3/4 bathroom, and a cozy wood-burning stove at the heart of the living space. Updated double-pane windows and laminate flooring flows throughout. Step outside to enjoy a large covered back porch, perfect for evening barbecues in the cool Mountainair air.

6. 2025-07-09
   listed $115,000 Active 597-char remark

   Show marketing remark (597 chars)

   Flexible Seller Financing Available! Seller is open to a Real Estate Contract (REC) with flexible terms. Don't wait--submit your offer today and make this home yours! * * * * Charming Mountainair Home at a Great Value! Don't miss this move-in ready opportunity in a rare price range. This home offers two bedrooms, a beautifully remodeled 3/4 bathroom, and a cozy wood-burning stove at the heart of the living space. Updated double-pane windows and laminate flooring flows throughout. Step outside to enjoy a large covered back porch, perfect for evening barbecues in the cool Mountainair air.

7. 2025-04-10
   soldstatus
8. 2022-11-16
   soldstatus $50,000

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 6 d/yr ≥91°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: $10,799
• − Mortgage interest: −$6,022
• − Property taxes: −$1,612
• − Insurance: −$538
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$3,127
• Taxable loss: −$2,228
• Est. tax savings @ 24.0%: +$535
• After-tax cash flow: $151/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: Mountainair Public Schools
• NCES district ID: 3501950
• Math proficiency: 25% ▲ 15.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $37,198
• Composite: 20.84/100
• National rank: #8501
• State rank: #25 of 29 in NM

Livability — Mountainair

• Score: 56/100
• State rank: #188
• US rank: #22919

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountainair, NM
• Population (ZIP): 2,052

Population outlook (Torrance County) Hauer SSP2

• Today (2025): 13,807 people
• By 2030: 12,946 · -6.2%
• By 2040: 11,214 · -18.8%
• By 2050: 9,802 · -29.0%
• By 2075: 7,634 · -44.7%
• By 2100: 5,637 · -59.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Hispanic / Latino 41% Two or more races 13% Black 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 82% English-only · Spanish 18%

Political lean MEDSL · Torrance

• 2024 margin: Solid R (+38.1) · D 29.9% · R 68.0% · Other 2.2%
• 2008→2024 swing: -28.8pp toward R · 2008: -9.3pp · 2024: -38.1pp
• All cycles: 2024: R+38.1 2020: R+33.4 2016: R+30.8 2012: R+17.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.89%
• Current HPI: 105.5739
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+115.0% since first listed

4 events — show timeline

• 2025-10-11 Price Changed $107,500 Southwest MLS
• 2025-07-09 Listed $115,000 Southwest MLS
• 2025-04-10 Sold (Public Records) — Public Records
• 2022-11-16 Sold (Public Records) $50,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $174 · +7.8% YoY. Source: county tax records.