806 7th St · Springer, NM 87747

$25,000

1 bd · 1.0 ba · 868 sqft · Other · 55 Days on market

Built 1920 7,000 sqft lot

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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 +5.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investment property on nice lot. Home features one bedroom and one bath. Galley kitchen is situated off of the living room. Home appears to have been heated with wood stoves that have since been removed. Attached carport on front of home. Large side yard with small shed. Home has lots of potential. This is a cash only purchase.

Key facts

• Attached carport
• Galley kitchen
• Small shed

Tags

• GALLEY KITCHEN
• ATTACHED CARPORT
• LARGE SIDE YARD
• SMALL SHED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($839 rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#62 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: employment D+, housing D+, crime F.
• Market conditions: 8 active listings in the ZIP.

Forward outlook

• In year one you build about $923 of equity ($173 loan paydown + $750 appreciation (3.0% local appreciation)).
• Colfax County population projected at -39% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.35% ✓
• Cap rate: 30.58%
• Cash-on-cash: 86.72%
• DSCR: 4.86
• GRM: 2.5

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: 91.1%
• Equity multiple: 6.03×
• Total profit: $35,234
• Equity at exit: $11,241

10-year hold

• IRR: 90.6%
• Equity multiple: 12.47×
• Total profit: $80,284
• Equity at exit: $17,324

Cash invested: $7,000 (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 87747

• Active inventory: 8
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $839 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$15 /mo · $181/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $506

Break-even live

Break-even rent $198

Max offer price $25,000

Occupancy floor 35%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-03-31
   listed $25,000 Active 329-char remark

   Show marketing remark (329 chars)

   Investment property on nice lot. Home features one bedroom and one bath. Galley kitchen is situated off of the living room. Home appears to have been heated with wood stoves that have since been removed. Attached carport on front of home. Large side yard with small shed. Home has lots of potential. This is a cash only purchase.

ⓘ 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: $181 · $15/mo
• Projected year-2 tax: $200 · $17/mo
• Expected delta: +$19/yr (+$2/mo · 10.4%)

ⓘ 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 6 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,063
• − Mortgage interest: −$1,400
• − Property taxes: −$181
• − Insurance: −$125
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$727
• Taxable income: $6,019
• Est. tax owed @ 24.0%: −$1,445
• After-tax cash flow: $4,626/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)

No district data.

Livability — Springer

• Score: 65/100
• State rank: #62
• US rank: #13583

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springer, NM
• Population (ZIP): 1,941

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: Majority Hispanic (57%)
• Race & ethnicity: Hispanic / Latino 57% White 37% Two or more races 33% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Iranian 4% Portuguese 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 75% English-only · Spanish 24%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-31 Listed $25,000 NMMLS

Property tax history

-6.3%/yr

Latest (2025): $181 · -56.9% YoY. Source: county tax records.