116 High St · Ruidoso, NM 88345

$119,000

1 bd · 1.0 ba · 500 sqft · Other public records · 23 Days on market

Built 1966 3,049 sqft lot

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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).

• Cash flow +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Escape to the mountains with this charming little cabin in the heart of Ruidoso! Approx. (unheated) 500 sq ft, this cozy retreat offers rustic character and endless potential for a weekend getaway, rental investment, or full-time mountain living. Nestled among the tall pines, you'll enjoy cool mountain air, wildlife sightings, and easy access to Midtown shopping, restaurants, hiking, casinos, etc. The cabin is being sold as-is, giving buyers the opportunity to update or customize to their own style and vision. Compact yet functional. This property is full of possibilities. No owner financing available. Will need to be cash purchase. No sight unseen offers, buyers need to view in person prio

Key facts

• Wildlife sightings
• Mountain living
• 3,049 sq ft lot

Tags

• MOUNTAIN LIVING
• WILDLIFE SIGHTINGS
• EASY ACCESS TO MIDTOWN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; One level
• Construction: Wood siding; Metal roof
• Exterior features: Covered patio/porch; Deck; Front porch; Porch; Sloped-up lot; Paved road frontage; City street frontage

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Flooring: Linoleum; See remarks
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating; Window unit(s) for cooling; No cooling (listed as None and Window Unit(s))
• Interior features: Furnished; No fireplace; Has a view
• Laundry & utility: Electric water heater; Water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/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 $116k (2.9% below list).
• Recommended offer: $116k (2.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#40 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Ruidoso Municipal Schools (town): math 16% / reading 59% proficiency, ranked #14 of 29 in NM (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 593 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,547 (2.9% below list)

Questions for the listing agent

1. Built in 1966 — 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. 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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 8.6

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-5,839
• Equity at exit: $17,743

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $12,067
• Equity at exit: $10,289

Cash invested: $33,320 (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 88345

• Active inventory: 593
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,155 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$27 /mo · $327/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $212

Break-even live

Break-even rent $887

Max offer price $119,000

Occupancy floor 77%

Sensitivity live

Price	-10% $279	-5% $246	+0% $212	+5% $178	+10% $145
Rent	-10% $121	-5% $166	+0% $212	+5% $258	+10% $303
Rate	-1.0pp $272	-0.5pp $242	base $212	+0.5pp $181	+1.0pp $150

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Apache Hills Dr Unit A Ruidoso, NM	2.0	1.0	726	$1,200	$1.65	44d	1	0.86mi
108 Apache Hills Dr Unit A heuristic Ruidoso, NM	2.0	1.0	726	$1,200	$1.65	25d	1	0.87mi

Listing history 16 events

1. 2026-06-19
   days on market $119,000 Active 23 DOM
2. 2026-06-18
   days on market $119,000 Active 22 DOM
3. 2026-06-17
   days on market $119,000 Active 21 DOM
4. 2026-06-16
   days on market $119,000 Active 20 DOM
5. 2026-06-15
   days on market $119,000 Active 19 DOM
6. 2026-06-14
   days on market $119,000 Active 17 DOM
7. 2026-06-12
   days on market $119,000 Active 16 DOM
8. 2026-06-09
   days on market $119,000 Active 13 DOM
9. 2026-06-08
   days on market $119,000 Active 12 DOM
10. 2026-06-07
    days on market $119,000 Active 11 DOM
11. 2026-06-04
    days on market $119,000 Active 7 DOM
12. 2026-06-02
    days on market $119,000 Active 6 DOM
13. 2026-06-01
    days on market $119,000 Active 5 DOM
14. 2026-05-31
    days on market $119,000 Active 4 DOM
15. 2026-05-31
    days on market $119,000 Active 3 DOM
16. 2026-05-27
    listed $119,000 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: $327 · $27/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$625/yr (+$52/mo · 191.6%)

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥86°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,866
• − Mortgage interest: −$6,666
• − Property taxes: −$327
• − Insurance: −$595
• − Repairs & maintenance: −$1,109
• − Management: −$1,109
• − Depreciation: −$3,462
• Taxable income: $598
• Est. tax owed @ 24.0%: −$144
• After-tax cash flow: $2,400/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: Ruidoso Municipal Schools
• NCES district ID: 3502310
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $44,094
• Composite: 31.68/100
• National rank: #5925
• State rank: #14 of 29 in NM

Livability — Ruidoso

• Score: 66/100
• State rank: #40
• US rank: #11996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruidoso, NM
• County: Lincoln County · 7,835 people
• City population: 7,835
• Metro: Ruidoso, NM
• Population (ZIP): 7,835
• Household income: $53,971
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 156.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 14% Native American 1% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 4% Slovak 3% Danish 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 81% English-only · Spanish 17%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.17%
• Current HPI: 141.9549
• Rent YoY: —
• Metro: Ruidoso, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-27 Listed $119,000 RLCAR

Property tax history

+3.7%/yr

Latest (2025): $327 · +3.4% YoY. Source: county tax records.