2405 Harvard Ave · Alamogordo, NM 88310

$180,000

3 bd · 2.0 ba · 1,242 sqft · SingleFamily public records · 16 Days on market

Built 1969 6,708 sqft lot

---

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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright & Beautiful 3 bedroom, 1.75 bath home has just been newly renovated. Lots of updates with a newer Roof, newer AC & Heating unit, Electrical Panel, Interior Paint, newer Floors throughout Enjoy the large backyard that’s perfect for BBQ’s & entertaining family & friends. Move-in ready. This home is a must see, Don't Delay, Call Today!

Key facts

• Spacious backyard
• Centrally located
• College street area

Tags

• CENTRALLY LOCATED
• COLLEGE STREET AREA
• SPACIOUS BACKYARD
• PRIVATE ENTERTAINMENT OASIS

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public water; Public sewer
• Home design: Single family residence (site built); Residential property
• Construction: Brick veneer exterior; Shingle roof
• Exterior features: Covered patio

Interior

• Kitchen: Refrigerator; Range; Oven
• Heating & cooling: Central air; Forced air
• Interior features: Window coverings; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#5 in NM, #3,233 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment D, schools F.
• Alamogordo Public Schools (town): math 26% / reading 39% proficiency, ranked #26 of 95 in NM (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 444 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 6 units permitted in Otero County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Otero County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago 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

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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 D 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: 1.01% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.65% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-12,424
• Equity at exit: $26,839

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $4,057
• Equity at exit: $15,563

Cash invested: $50,400 (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 88310

• Rents YoY: 1.6%
• Active inventory: 444
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,809 high
• Mortgage (P&I): −$944
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $302

Break-even live

Break-even rent $1,427

Max offer price $180,000

Occupancy floor 78%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 Mesa Ln Alamogordo, NM	3.0	2.0	1408	$3,000	$2.13	24d	1	0.25mi
2509 Pecan Dr Unit 11D Alamogordo, NM	2.0	1.0	735	$975	$1.33	21d	1	0.35mi
2360 Mesa Ln Alamogordo, NM	3.0	2.0	1173	$1,600	$1.36	24d	1	0.38mi
2116 N Scenic Dr Apt A1 Alamogordo, NM	2.0	1.0	957	$950	$0.99	24d	1	0.82mi
1514 Utah Ave Alamogordo, NM	2.0	1.0	1119	$1,450	$1.30	14d	1	0.94mi
1301 Jefferson Ave Unit LAST ONE AVAILABLE!! Alamogordo, NM	2.0	2.0	892	$1,425	$1.60	3d	1	1.11mi
2300 Aspen Dr Alamogordo, NM	3.0	2.0	1368	$1,400	$1.02	3d	1	1.13mi
1301 Fillmore Ave Alamogordo, NM	2.0	1.0	967	$1,095	$1.13	44d	2	1.22mi
1905 12th St Alamogordo, NM	2.0	1.0	704	$850	$1.21	14d	1	1.24mi

Listing history 13 events

1. 2026-06-18
   days on market $180,000 Active 16 DOM
2. 2026-06-17
   days on market $180,000 Active 15 DOM
3. 2026-06-16
   days on market $180,000 Active 14 DOM
4. 2026-06-15
   days on market $180,000 Active 13 DOM
5. 2026-06-13
   days on market $180,000 Active 11 DOM
6. 2026-06-13
   days on market $180,000 Active 10 DOM
7. 2026-06-10
   days on market $180,000 Active 8 DOM
8. 2026-06-09
   days on market $180,000 Active 7 DOM
9. 2026-06-08
   days on market $180,000 Active 6 DOM
10. 2026-06-07
    days on market $180,000 Active 5 DOM
11. 2026-06-05
    days on market $180,000 Active 2 DOM
12. 2026-06-03
    remarks 460-char remark
13. 2026-06-03
    listed $180,000 Active 1 DOM

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

Tax reassessment forecast NM · Resets to sale price

• Current annual tax: $1,303 · $109/mo
• Projected year-2 tax: $1,440 · $120/mo
• Expected delta: +$137/yr (+$11/mo · 10.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 8 d/yr ≥98°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: $21,709
• − Mortgage interest: −$10,083
• − Property taxes: −$1,303
• − Insurance: −$900
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − Depreciation: −$5,236
• Taxable income: $713
• Est. tax owed @ 24.0%: −$171
• After-tax cash flow: $3,449/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: Alamogordo Public Schools
• NCES district ID: 3500030
• Math proficiency: 26% —
• Reading proficiency: 39% —
• Median HH income: $42,194
• Composite: 30.24/100
• National rank: #11572
• State rank: #26 of 95 in NM

Livability — Alamogordo

• Score: 77/100
• State rank: #5
• US rank: #3233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamogordo, NM
• County: Otero County · 36,983 people
• City population: 36,983
• Metro: Alamogordo, NM
• Population (ZIP): 36,983
• Household income: $57,214
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1231.0

Population outlook (Otero County) Hauer SSP2

• Today (2025): 62,967 people
• By 2030: 62,164 · -1.3%
• By 2040: 60,253 · -4.3%
• By 2050: 58,575 · -7.0%
• By 2075: 55,411 · -12.0%
• By 2100: 48,551 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 31% Two or more races 18% Black 5% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 12% Tagalog/Filipino 1%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+27.0) · D 35.4% · R 62.4% · Other 2.2%
• 2008→2024 swing: -7.7pp toward R · 2008: -19.3pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+25.6 2016: R+29.1 2012: R+28.0 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.88%
• Current HPI: 181.737
• Rent YoY: ▲ 1.65%
• Metro: Alamogordo, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+100.0% since first listed

11 events — show timeline

• 2026-06-02 Listed $180,000 OCAOR
• 2024-12-19 Rental Removed $1,400 APPFOLIO
• 2024-12-10 Price Changed $1,400 APPFOLIO
• 2024-11-22 Listed for Rent $1,500 APPFOLIO
• 2023-03-01 Sold (Public Records) — Public Records
• 2023-02-21 Sold (MLS) — OCAOR
• 2023-01-11 Pending — OCAOR
• 2023-01-09 Listed $178,000 OCAOR
• 2022-09-26 Sold (MLS) — OCAOR
• 2022-07-21 Listed $90,000 OCAOR
• 2020-12-21 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,303 · +0.9% YoY. Source: county tax records.