39 Vail Avenue 117a Ave Unit 117 A · Angel Fire, NM 87710

$39,000

1 bd · 1.0 ba · 956 sqft · SingleFamily · 212 Days on market

Built 1985 $387/mo HOA · 28% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This desirable 1 bedroom 1 bath condo offers you fractional ownership. Enjoy 12 weeks a year to enjoy all that Angel Fire Resort has to offer. If you love hiking, biking, skiing, golfing, paddling boarding and fishing, this is the place for you. Four owners get to enjoy this condo 2 weeks out of each season personally or as a rental. With this fractional, there are no other associated costs to ownership. In addition, you will receive a recreational pass that gives you free access to Angel Fire Resort Country Club's fitness center, indoor pool, tennis and pickle ball courts, as well as discounted skiing and golf. The Mountain Spirit complex is conveniently located at the base of Angel Fire Ski Resort and is close to surrounding amenities. The Mountain Spirits building has covered parking, laundry on every level, bike storage room, ski locker storage, community space and an elevator!

Key facts

• Fitness center
• Pickle ball courts
• Covered parking

Tags

• FITNESS CENTER
• INDOOR POOL
• TENNIS COURTS
• PICKLE BALL COURTS
• COVERED PARKING
• LAUNDRY ON EVERY LEVEL

Property features AI

Finance

• Other: Subdivision: Angel Fire Vil1; Zoning: Angel Fire Siki Area
• HOA & community: Homeowners association with laundry amenity; Monthly HOA fee of $387; HOA covers electricity, gas, insurance, grounds and structure maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: Attached carport; Paved parking; 2 carport spaces
• Utilities: Public water; Electricity connected; Natural gas not available
• Home design: Residential timeshare (fractional); Two levels
• Construction: Frame construction
• Exterior features: Deck; Wooded surroundings

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Radiant heating; Fireplace heating; Active solar heating; Passive solar heating
• Interior features: Fireplace (1); Active and passive solar features
• Laundry & utility: Laundry available through HOA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#104 in NM) — a middle-class / working-renter tenant base. Watch: housing C-, health & safety C-, amenities F.
• Cimarron Municipal Schools (rural): math 18% / reading 42% proficiency, ranked #28 of 95 in NM (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eagle Nest Elementary (math 15% / reading 84%, grade D+, #17 of 68 statewide, top 34%, 96 students, 49% FRL); Moreno Valley High (math 24% / reading 75%, grade D+, #36 of 110 statewide, top 45%, 52 students, 56% FRL, charter) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 50% at this address vs 30% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Cimarron Municipal Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 443 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $391 of value loss. Plan a longer hold.
• Colfax County population projected at -39% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $34,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.58% ✓
• Cap rate: 20.05%
• Cash-on-cash: 49.12%
• DSCR: 3.19
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.6%
• Equity multiple: 3.36×
• Total profit: $25,788
• Equity at exit: $9,409

10-year hold

• IRR: 53.3%
• Equity multiple: 6.80×
• Total profit: $63,340
• Equity at exit: $9,876

Cash invested: $10,920 (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 87710

• Home prices YoY: -0.5%
• Active inventory: 443
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,397 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$387
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $447

Break-even live

Break-even rent $831

Max offer price $39,000

Occupancy floor 63%

Sensitivity live

Price	-10% $474	-5% $460	+0% $447	+5% $434	+10% $420
Rent	-10% $337	-5% $392	+0% $447	+5% $502	+10% $557
Rate	-1.0pp $467	-0.5pp $457	base $447	+0.5pp $437	+1.0pp $427

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $387 · $4,644/yr
• Likely covers: poolgym

Listing history 17 events

1. 2026-06-21
   days on market $39,000 Active 212 DOM
2. 2026-06-18
   days on market $39,000 Active 210 DOM
3. 2026-06-17
   days on market $39,000 Active 209 DOM
4. 2026-06-16
   days on market $39,000 Active 208 DOM
5. 2026-06-15
   days on market $39,000 Active 207 DOM
6. 2026-06-13
   days on market $39,000 Active 205 DOM
7. 2026-06-12
   days on market $39,000 Active 204 DOM
8. 2026-06-09
   days on market $39,000 Active 201 DOM
9. 2026-06-08
   days on market $39,000 Active 200 DOM
10. 2026-06-07
    days on market $39,000 Active 199 DOM
11. 2026-06-07
    days on market $39,000 Active 198 DOM
12. 2026-06-04
    days on market $39,000 Active 195 DOM
13. 2026-06-02
    days on market $39,000 Active 194 DOM
14. 2026-06-01
    days on market $39,000 Active 193 DOM
15. 2026-05-31
    days on market $39,000 Active 192 DOM
16. 2025-10-08
    listed $39,000 Active

    Show marketing remark (894 chars)

    This desirable 1 bedroom 1 bath condo offers you fractional ownership. Enjoy 12 weeks a year to enjoy all that Angel Fire Resort has to offer. If you love hiking, biking, skiing, golfing, paddling boarding and fishing, this is the place for you. Four owners get to enjoy this condo 2 weeks out of each season personally or as a rental. With this fractional, there are no other associated costs to ownership. In addition, you will receive a recreational pass that gives you free access to Angel Fire Resort Country Club's fitness center, indoor pool, tennis and pickle ball courts, as well as discounted skiing and golf. The Mountain Spirit complex is conveniently located at the base of Angel Fire Ski Resort and is close to surrounding amenities. The Mountain Spirits building has covered parking, laundry on every level, bike storage room, ski locker storage, community space and an elevator!

17. 2025-10-08
    listed $39,000 Active 894-char remark

    Show marketing remark (894 chars)

    This desirable 1 bedroom 1 bath condo offers you fractional ownership. Enjoy 12 weeks a year to enjoy all that Angel Fire Resort has to offer. If you love hiking, biking, skiing, golfing, paddling boarding and fishing, this is the place for you. Four owners get to enjoy this condo 2 weeks out of each season personally or as a rental. With this fractional, there are no other associated costs to ownership. In addition, you will receive a recreational pass that gives you free access to Angel Fire Resort Country Club's fitness center, indoor pool, tennis and pickle ball courts, as well as discounted skiing and golf. The Mountain Spirit complex is conveniently located at the base of Angel Fire Ski Resort and is close to surrounding amenities. The Mountain Spirits building has covered parking, laundry on every level, bike storage room, ski locker storage, community space and an elevator!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,763
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − HOA: −$4,644
• − Depreciation: −$1,135
• Taxable income: $5,337
• Est. tax owed @ 24.0%: −$1,281
• After-tax cash flow: $4,083/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: Cimarron Municipal Schools
• NCES district ID: 3500480
• Math proficiency: 18% —
• Reading proficiency: 42% —
• Median HH income: $43,503
• Composite: 28.37/100
• National rank: #12129
• State rank: #28 of 95 in NM

Livability — Angel Fire

• Score: 61/100
• State rank: #104
• US rank: #18413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Angel Fire, NM
• City population: 1,472
• Population (ZIP): 1,472

Population outlook (Colfax County) Hauer SSP2

• Today (2025): 10,260 people
• By 2030: 9,240 · -9.9%
• By 2040: 7,474 · -27.2%
• By 2050: 6,285 · -38.7%
• By 2075: 5,109 · -50.2%
• By 2100: 4,684 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 10% Native American 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 10% Iranian 6% Portuguese 4%
• Foreign-born: 17% · Canada
• Languages at home: 86% English-only · Spanish 12% German/W. Germanic 1%

Political lean MEDSL · Colfax

• 2024 margin: R (+14.0) · D 41.9% · R 55.9% · Other 2.1%
• 2008→2024 swing: -24.8pp toward R · 2008: 10.7pp · 2024: -14.0pp
• All cycles: 2024: R+14.0 2020: R+11.0 2016: R+8.6 2012: D+2.0 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.00%
• Current HPI: 209.637
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2025-10-08 Listed $39,000 TCAR
• 2025-10-08 Listed $39,000 TCAR