1008 College Ave · Alamogordo, NM 88310

$149,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 10 Days on market

Built 1962 7,144 sqft 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 +19.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CHARMING, UPDATED, AND MOVE-IN READY! THIS WELL-MAINTAINED 2-BEDROOM, 1-BATH HOME OFFERS COMFORT, CONVENIENCE, AND PRIDE OF OWNERSHIP THROUGHOUT. REFRIGERATED AIR, AND A DURABLE METAL ROOF PROVIDE PEACE OF MIND AND YEAR-ROUND COMFORT. THE PROPERTY FEATURES AN A 20X30 CARPORT AND ATTACHED 10X20 ENCLOSED STORAGE AREA—PERFECT FOR VEHICLES, ATVS, TOOLS, HOBBIES, OR EXTRA HOUSEHOLD STORAGE. INSIDE AND OUT, THIS HOME HAS BEEN EXCEPTIONALLY CARED FOR AND IS CLEAN, INVITING, AND READY FOR ITS NEXT CHAPTER. CONVENIENTLY LOCATED NEAR SCHOOLS, SHOPPING, DINING, AND EVERYDAY AMENITIES, YOU'LL ENJOY EASY ACCESS TO EVERYTHING ALAMOGORDO HAS TO OFFER!

Key facts

• Refrigerated air
• Metal roof
• Carport

Tags

• REFRIGERATED AIR
• METAL ROOF
• CARPORT
• ENCLOSED STORAGE AREA
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached parking
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1 story; Site-built home
• Construction: Metal roof
• Exterior features: Patio; Chain link fencing

Interior

• Kitchen: Microwave; Refrigerator; Range; Oven
• Flooring: Laminate
• Heating & cooling: Central air; Ceiling fans; Forced air heating
• Interior features: Microwave; Refrigerator; Range; Oven; Laminate flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $7 ($78/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 $132k (11.3% below list).
• Recommended offer: $132k (11.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#5 in NM, #3,233 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment D, schools F.
• Alamogordo Public Schools (town): math 26% / reading 39% proficiency, ranked #26 of 95 in NM (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 444 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 6 units permitted in Otero County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Otero County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 8→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,096 (11.3% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 D 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: 0.89% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.56%
• DSCR: 1.20
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.65% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.39×
• Total profit: $-25,475
• Equity at exit: $22,216

10-year hold

• IRR: -12.3%
• Equity multiple: 0.31×
• Total profit: $-28,620
• Equity at exit: $12,883

Cash invested: $41,720 (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 88310

• Rents YoY: 1.6%
• Active inventory: 444
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,321 high
• Mortgage (P&I): −$781
• Tax from tax record: −$42 /mo · $498/yr
• Insurance: −$62
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $7

Break-even live

Break-even rent $1,313

Max offer price $149,000

Occupancy floor 95%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1905 12th St Alamogordo, NM	2.0	1.0	704	$850	$1.21	14d	1	0.09mi
1301 Fillmore Ave Alamogordo, NM	2.0	1.0	967	$1,095	$1.13	44d	2	0.14mi
1301 Jefferson Ave Unit LAST ONE AVAILABLE!! Alamogordo, NM	2.0	2.0	892	$1,425	$1.60	3d	1	0.39mi
1514 Utah Ave Alamogordo, NM	2.0	1.0	1119	$1,450	$1.30	14d	1	0.68mi
2200 1st St Alamogordo, NM	1.0–3.0	1.0–3.0	1011	$1,979	$1.96	3d	18	0.92mi
2116 N Scenic Dr Apt A1 Alamogordo, NM	2.0	1.0	957	$950	$0.99	23d	1	1.29mi
2509 Pecan Dr Unit 11D Alamogordo, NM	2.0	1.0	735	$975	$1.33	21d	1	1.49mi

Listing history 10 events

1. 2026-06-10
   status $149,000 Pending 10 DOM
2. 2026-06-09
   days on market $149,000 Active 10 DOM
3. 2026-06-08
   days on market $149,000 Active 9 DOM
4. 2026-06-07
   days on market $149,000 Active 8 DOM
5. 2026-06-05
   days on market $149,000 Active 5 DOM
6. 2026-06-03
   days on market $149,000 Active 4 DOM
7. 2026-06-03
   days on market $149,000 Active 3 DOM
8. 2026-06-01
   days on market $149,000 Active 2 DOM
9. 2026-05-31
   remarks 644-char remark
10. 2026-05-31
    listed $149,000 Active 1 DOM

ⓘ 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: $498 · $42/mo
• Projected year-2 tax: $1,192 · $99/mo
• Expected delta: +$694/yr (+$58/mo · 139.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AH · 71% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 8 d/yr ≥98°F today · 26 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: $15,852
• − Mortgage interest: −$8,346
• − Property taxes: −$498
• − Insurance: −$2,570
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$4,335
• Taxable loss: −$2,434
• Est. tax savings @ 24.0%: +$584
• After-tax cash flow: $662/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: Alamogordo Public Schools
• NCES district ID: 3500030
• Math proficiency: 26% —
• Reading proficiency: 39% —
• Median HH income: $42,194
• Composite: 30.24/100
• National rank: #11572
• State rank: #26 of 95 in NM

Livability — Alamogordo

• Score: 77/100
• State rank: #5
• US rank: #3233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamogordo, NM
• County: Otero County · 36,983 people
• City population: 36,983
• Metro: Alamogordo, NM
• Population (ZIP): 36,983
• Household income: $57,214
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1231.0

Population outlook (Otero County) Hauer SSP2

• Today (2025): 62,967 people
• By 2030: 62,164 · -1.3%
• By 2040: 60,253 · -4.3%
• By 2050: 58,575 · -7.0%
• By 2075: 55,411 · -12.0%
• By 2100: 48,551 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 31% Two or more races 18% Black 5% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 12% Tagalog/Filipino 1%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+27.0) · D 35.4% · R 62.4% · Other 2.2%
• 2008→2024 swing: -7.7pp toward R · 2008: -19.3pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+25.6 2016: R+29.1 2012: R+28.0 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.88%
• Current HPI: 181.737
• Rent YoY: ▲ 1.65%
• Metro: Alamogordo, NM
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-30 Listed $149,000 OCAOR
• 2023-07-10 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $498 · +3.3% YoY. Source: county tax records.