32 Sunset Canyon Ln · Santa Fe, NM 87508

$500,000

4 bd · 1.5 ba · 2,453 sqft · SingleFamily public records · 126 Days on market

Built 2007 4,008 sqft lot $204/sqft · 22% below area Est $657k · 24% under $55/mo HOA · 2% of rent ↓ 26% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor—ideal for guests or multi-generational living—while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR or OFFER $36,500 FLEX CASH!), and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs. The open kitchen remains the heart of the home, boasting a huge walk-in pantry and abundant natural light, while the upper floor offers the added convenience of a dedicated laundry room near the main bedrooms. Outside, enjoy a low-maintenance, xeriscape backyard designed for easy-care living. The community enhances the lifestyle with a low $55/month HOA that covers nightly security patrols and the professional upkeep of walking trails and three well-maintained parks. Offering two separate living areas and significant energy savings, this property is a peaceful retreat that delivers the perfect balance of functionality and charm.

Key facts

• Full bathroom
• Main floor bedroom
• Open kitchen

Tags

• MAIN FLOOR BEDROOM
• FULL BATHROOM
• OPEN KITCHEN

🏷️ Possibly a rental listed for sale. The $500,000 price doesn't fit this home's estimated sale value (~$656,960) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $-504 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $411k (17.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $322k (35.6% below list).
• Recommended offer: $322k (35.6% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.4% in Santa Fe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#9 in NM, #4,641 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F.
• Santa Fe Public Schools (urban): math 34% / reading 70% proficiency, ranked #6 of 29 in NM (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 194 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 244 units permitted in Santa Fe County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $40k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $321,876 (35.6% 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 126 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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. 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?
9. 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.
10. 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.
11. 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: 0.64% ✗
• Cap rate: 5.08%
• Cash-on-cash: -4.32%
• DSCR: 0.81
• GRM: 12.9

CMA / ARV

• ARV (median comp): $656,960
• List price: $500,000
• Delta: -23.89%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.7%
• Equity multiple: 0.19×
• Total profit: $-113,293
• Equity at exit: $74,552

10-year hold

• IRR: -18.7%
• Equity multiple: -0.01×
• Total profit: $-140,771
• Equity at exit: $43,231

Cash invested: $140,000 (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 87508

• Home prices YoY: -30.2%
• Active inventory: 194
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $3,219 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$208
• HOA: −$55
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $-504

Break-even live

Break-even rent $3,856

Max offer price $411,053

Occupancy floor —

Sensitivity live

Price	-10% $-220	-5% $-362	+0% $-504	+5% $-645	+10% $-787
Rent	-10% $-758	-5% $-631	+0% $-504	+5% $-376	+10% $-249
Rate	-1.0pp $-252	-0.5pp $-376	base $-504	+0.5pp $-633	+1.0pp $-765

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 Avenida Colibri Santa Fe, NM	3.0	2.5	2455	$3,600	$1.47	44d	1	0.39mi

HOA detail

• Monthly dues: $55 · $660/yr
• Likely covers: security

Listing history 30 events

1. 2026-06-16
   status $500,000 Pending 126 DOM
2. 2026-06-15
   days on market $500,000 Active 126 DOM
3. 2026-06-14
   days on market $500,000 Active 124 DOM
4. 2026-06-13
   days on market $500,000 Active 123 DOM
5. 2026-06-10
   days on market $500,000 Active 121 DOM
6. 2026-06-09
   days on market $500,000 Active 120 DOM
7. 2026-06-08
   days on market $500,000 Active 119 DOM
8. 2026-06-07
   days on market $500,000 Active 118 DOM
9. 2026-06-03
   days on market $500,000 Active 114 DOM
10. 2026-06-02
    days on market $500,000 Active 113 DOM
11. 2026-06-01
    days on market $500,000 Active 112 DOM
12. 2026-05-31
    days on market $500,000 Active 111 DOM
13. 2026-05-30
    days on market $500,000 Active 110 DOM
14. 2026-04-10
    price $500,000 1410-char remark

    Show marketing remark (763 chars)

    Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor--ideal for guests or multi-generational living--while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR, or OFFER $36,500 FLEX CASH!) and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs.

15. 2026-04-10
    price $500,000 763-char remark

    Show marketing remark (763 chars)

    Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor--ideal for guests or multi-generational living--while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR, or OFFER $36,500 FLEX CASH!) and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs.

16. 2026-02-24
    price $505,000 1410-char remark

    Show marketing remark (763 chars)

    Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor--ideal for guests or multi-generational living--while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR, or OFFER $36,500 FLEX CASH!) and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs.

17. 2026-02-24
    price $505,000 763-char remark

    Show marketing remark (763 chars)

    Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor--ideal for guests or multi-generational living--while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR, or OFFER $36,500 FLEX CASH!) and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs.

18. 2026-02-02
    listed $540,000 Active 1410-char remark

    Show marketing remark (763 chars)

    Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor--ideal for guests or multi-generational living--while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR, or OFFER $36,500 FLEX CASH!) and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs.

19. 2026-02-02
    listed $540,000 Active 763-char remark

    Show marketing remark (763 chars)

    Welcome to 32 Sunset Canyon Lane, a fantastic 5-bedroom, 3-bath home built in 2006 that perfectly combines comfort, style, and modern efficiency. The functional floor plan offers a convenient bedroom and full bathroom on the main floor--ideal for guests or multi-generational living--while the upper level features a huge great room over the garage that serves as a versatile office, additional family room, or even a 6th bedroom. The home underwent extensive updates in 2023, including a new roof, new stucco, a new solar energy system (SELLER WILL PAY OFF SOLAR, or OFFER $36,500 FLEX CASH!) and new custom windows and patio doors. The interior was equally refreshed with bathroom updates featuring new toilets, lighting, and new shower surrounds with bathtubs.

20. 2025-12-18
    price $590,000
21. 2025-12-18
    price $590,000
22. 2025-11-25
    price $615,000
23. 2025-11-25
    price $615,000
24. 2025-11-12
    price $650,000
25. 2025-11-05
    price $650,000
26. 2025-10-11
    price $664,000
27. 2025-10-11
    price $664,000
28. 2025-09-23
    price $675,000
29. 2025-09-22
    listed $670,000 Active
30. 2025-09-11
    price $675,000

ⓘ 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: $1,931 · $161/mo
• Projected year-2 tax: $4,000 · $333/mo
• Expected delta: +$2,069/yr (+$172/mo · 107.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 4 d/yr ≥90°F today · 10 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: $38,625
• − Mortgage interest: −$28,008
• − Property taxes: −$1,931
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,090
• − Management: −$3,090
• − HOA: −$660
• − Depreciation: −$14,545
• Taxable loss: −$15,199
• Est. tax savings @ 24.0%: +$3,648
• After-tax cash flow: $-2,394/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: Santa Fe Public Schools
• NCES district ID: 3502370
• Math proficiency: 34% ▲ 16.00%
• Reading proficiency: 70% ▲ 40.00%
• Median HH income: $55,031
• Composite: 44.78/100
• National rank: #2744
• State rank: #6 of 29 in NM

Livability — Santa Fe

• Score: 74/100
• State rank: #9
• US rank: #4641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Santa Fe County · 118,003 people
• City population: 118,003
• Metro: Santa Fe, NM
• Population (ZIP): 18,518
• Household income: $101,565
• Rent vs Own: 7.4% rent · 92.6% own
• Severe rent burden: 113.0

Population outlook (Santa Fe County) Hauer SSP2

• Today (2025): 156,674 people
• By 2030: 159,422 · +1.8%
• By 2040: 160,891 · +2.7%
• By 2050: 159,966 · +2.1%
• By 2075: 161,318 · +3.0%
• By 2100: 157,302 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (56%)
• Race & ethnicity: White 56% Hispanic / Latino 39% Two or more races 18% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 80% English-only · Spanish 15% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Santa Fe

• 2024 margin: Solid D (+48.9) · D 73.3% · R 24.4% · Other 2.2%
• 2008→2024 swing: -6.1pp toward R · 2008: 55.0pp · 2024: 48.9pp
• All cycles: 2024: D+48.9 2020: D+53.8 2016: D+51.0 2012: D+51.0 2008: D+55.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.86%
• Current HPI: 253.3773
• Rent YoY: —
• Metro: Santa Fe, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-25.9% since first listed

17 events — show timeline

• 2026-04-10 Price Changed $500,000 Santa Fe MLS
• 2026-04-10 Price Changed $500,000 Southwest MLS
• 2026-02-24 Price Changed $505,000 Santa Fe MLS
• 2026-02-24 Price Changed $505,000 Southwest MLS
• 2026-02-02 Listed $540,000 Southwest MLS
• 2026-02-02 Listed $540,000 Santa Fe MLS
• 2025-12-18 Price Changed $590,000 Southwest MLS
• 2025-12-18 Price Changed $590,000 Santa Fe MLS
• 2025-11-25 Price Changed $615,000 Santa Fe MLS
• 2025-11-25 Price Changed $615,000 Southwest MLS
• 2025-11-12 Price Changed $650,000 Santa Fe MLS
• 2025-11-05 Price Changed $650,000 Southwest MLS
• 2025-10-11 Price Changed $664,000 Santa Fe MLS
• 2025-10-11 Price Changed $664,000 Southwest MLS
• 2025-09-23 Price Changed $675,000 Santa Fe MLS
• 2025-09-22 Listed $670,000 Santa Fe MLS
• 2025-09-11 Price Changed $675,000 Southwest MLS

Property tax history

+2.5%/yr

Latest (2025): $1,931 · +2.2% YoY. Source: county tax records.