23 Happy Trl N · Las Cruces, NM 88005

$95,000

3 bd · 2.0 ba · 1,250 sqft · Other · 12 Days on market

Fair condition

---

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
• Schools +4.6/10.0
• Livability +3.0/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

?? 23 Happy Trails Dr | Las Cruces, NM 3 Bed | 2 Bath | Trails West 55+ Gated Community Nestled in the desirable Trails West 55+ Gated Community, this home offers privacy, security, and access to an active lifestyle. Featuring 3 bedrooms and 2 bathrooms, this property presents an excellent opportunity for buyers looking to make a home their own. The home could benefit from some updates and repairs. The seller may be willing to address certain repairs depending on the terms of the offer. Buyers are encouraged to submit their offers for consideration. Residents of Trails West enjoy exceptional amenities including: ? Indoor & amp; Outdoor Swimming Pools ? Fitness Center / Gymnasium ? Pi

Key facts

• Gated community
• Fitness center
• Pickleball courts

Tags

• GATED COMMUNITY
• INDOOR SWIMMING POOLS
• OUTDOOR SWIMMING POOLS
• FITNESS CENTER
• PICKLEBALL COURTS
• BILLIARD ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).

Location & tenants

• Location reads 59/100 on livability (#120 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities D+, schools D-, crime F.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.9%/yr); 178 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($54k/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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.59% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.30%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.55×
• Total profit: $14,500
• Equity at exit: $14,165

10-year hold

• IRR: 20.5%
• Equity multiple: 2.49×
• Total profit: $39,759
• Equity at exit: $8,214

Cash invested: $26,600 (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 88005

• Rents YoY: -0.9%
• Active inventory: 178
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $539

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 59%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1320 Avenida de Mesilla Unit 124C Las Cruces, NM	2.0	2.0	1173	$1,550	$1.32	13d	1	0.41mi
560 El Molino Blvd Las Cruces, NM	3.0	2.0	1487	$1,500	$1.01	13d	1	1.39mi
2300 Stern Dr Las Cruces, NM	3.0	2.0	1082	$1,350	$1.25	13d	1	1.44mi

Listing history 11 events

1. 2026-06-18
   days on market $95,000 Active 12 DOM
2. 2026-06-17
   days on market $95,000 Active 11 DOM
3. 2026-06-16
   days on market $95,000 Active 10 DOM
4. 2026-06-15
   days on market $95,000 Active 9 DOM
5. 2026-06-14
   days on market $95,000 Active 7 DOM
6. 2026-06-13
   days on market $95,000 Active 6 DOM
7. 2026-06-10
   days on market $95,000 Active 4 DOM
8. 2026-06-09
   days on market $95,000 Active 3 DOM
9. 2026-06-08
   days on market $95,000 Active 2 DOM
10. 2026-06-07
    remarks 695-char remark
11. 2026-06-07
    listed $95,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°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: $18,154
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$2,764
• Taxable income: $5,264
• Est. tax owed @ 24.0%: −$1,263
• After-tax cash flow: $5,200/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, including painting the exterior and landscaping, to improve its condition and resale value.

Repairs flagged

• Moderate exterior siding — The siding appears weathered and needs repainting or replacement.
• Moderate exterior paint — The paint is faded and needs repainting.
• Moderate landscaping — The landscaping is sparse and needs trimming and planting to improve curb appeal.

Value-add opportunities

• Resale painting the exterior — Fresh paint can make the home look more appealing and increase its resale value.
• Both landscaping and planting — Improved landscaping can enhance curb appeal and attract more potential buyers or renters.
• Resale repairing and repainting the siding — Aesthetic repairs to the siding can significantly improve the home's appearance and increase its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding appears weathered and needs repainting or replacement.	Moderate	$3,000–15,000
exterior paint · The paint is faded and needs repainting.	Moderate	$3,000–15,000
landscaping · The landscaping is sparse and needs trimming and planting to improve curb appeal.	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale painting the exterior — Fresh paint can make the home look more appealing and increase its resale value. ↑
• Both landscaping and planting — Improved landscaping can enhance curb appeal and attract more potential buyers or renters. ↑
• Resale repairing and repainting the siding — Aesthetic repairs to the siding can significantly improve the home's appearance and increase its resale value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Las Cruces

• Score: 59/100
• State rank: #120
• US rank: #19687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Cruces, NM
• County: Dona Ana County · 144,044 people
• City population: 131,421
• Metro: Las Cruces, NM
• Population (ZIP): 27,509
• Household income: $54,452
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1248.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (58%)
• Race & ethnicity: Hispanic / Latino 58% White 35% Two or more races 28% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 68% English-only · Spanish 30%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.66%
• Current HPI: 188.4624
• Rent YoY: ▼ -0.88%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-07 Listed $95,000 FSBO.com