401 E Blanco St · Aztec, NM 87410

$386,933

8 bd · 4.8 ba · 3,120 sqft · MultiFamily · 37 Days on market

Fair condition

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Use your imagination to make these 4 units spectacular!

Key facts

• Near schools
• In town location
• Near shopping

Tags

• INCOME PRODUCING OPPORTUNITY
• MULTI FAMILY PROPERTY
• STRONG RENTAL POTENTIAL
• IN TOWN LOCATION
• NEAR SCHOOLS
• NEAR SHOPPING

Property features AI

Finance

• Financial info: Annual tax: $3,766

Exterior

• Utilities: Public water; Septic sewer
• Home design: Quadruplex residential income property; 2 stories
• Exterior features: Located in the Colonel Williams Addition subdivision; Zoned for medium-density multifamily

Interior

• Kitchen: Range, Oven, Refrigerator
• Bathrooms: 5 full bathrooms
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Range, Oven, Refrigerator

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.2-bath units multifamily listed at $387k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $334/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $387k).
• Recommended offer: $375k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#98 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, employment D+, schools F.
• Aztec Municipal Schools (town): math 18% / reading 61% proficiency, ranked #12 of 29 in NM (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 157 active listings in the ZIP; 78 units permitted in San Juan County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• San Juan County population projected at -51% 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 $108k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,325 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.20%
• DSCR: 1.72
• GRM: 6.2

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $22,625
• Equity at exit: $57,693

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $130,003
• Equity at exit: $33,455

Cash invested: $108,341 (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 87410

• Active inventory: 157
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $5,236 medium
• Mortgage (P&I): −$2,029
• Tax est. 1.5%: −$484 /mo · $5,804/yr
• Insurance: −$161
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,100
• Net cashflow: $1,337

Break-even live

Break-even rent $3,543

Max offer price $386,933

Occupancy floor 69%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.2	$5,236
Total (4 units)			$5,236

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: $96,733
• Closing costs: $11,608
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $386,933 Active 37 DOM
2. 2026-06-18
   days on market $386,933 Active 36 DOM
3. 2026-06-17
   days on market $386,933 Active 35 DOM
4. 2026-06-16
   days on market $386,933 Active 34 DOM
5. 2026-06-15
   days on market $386,933 Active 33 DOM
6. 2026-06-14
   days on market $386,933 Active 31 DOM
7. 2026-06-12
   days on market $386,933 Active 30 DOM
8. 2026-06-09
   days on market $386,933 Active 27 DOM
9. 2026-06-08
   days on market $386,933 Active 26 DOM
10. 2026-06-07
    days on market $386,933 Active 25 DOM
11. 2026-06-05
    days on market $386,933 Active 22 DOM
12. 2026-06-02
    days on market $386,933 Active 20 DOM
13. 2026-06-01
    days on market $386,933 Active 19 DOM
14. 2026-05-31
    days on market $386,933 Active 18 DOM
15. 2026-05-30
    days on market $386,933 Active 17 DOM
16. 2026-05-13
    listed $386,933 Active 1225-char remark
17. 2016-04-27
    soldstatus 55-char remark

    Show marketing remark (55 chars)

    Use your imagination to make these 4 units spectacular!

18. 2015-11-16
    listed $99,900 55-char remark

    Show marketing remark (55 chars)

    Use your imagination to make these 4 units spectacular!

ⓘ 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 A · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥93°F today · 14 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: $62,832
• − Mortgage interest: −$21,674
• − Property taxes: −$5,804
• − Insurance: −$3,437
• − Repairs & maintenance: −$5,027
• − Management: −$5,027
• − Depreciation: −$11,256
• Taxable income: $10,607
• Est. tax owed @ 24.0%: −$2,546
• After-tax cash flow: $13,501/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and value. Focus on updating the kitchen and bathrooms, painting the exterior, and landscaping to attract tenants and buyers.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Moderate bathroom fixtures — basic and worn
• Moderate paint — paint appears worn in some areas

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would improve both resale and rental value
• Both bathroom updates — updating bathrooms would improve both resale and rental value
• Both exterior paint — fresh paint would improve curb appeal and value
• Both landscaping — improved landscaping would enhance curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen countertops · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · basic and worn	Moderate	$3,000–15,000
paint · paint appears worn in some areas	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would improve both resale and rental value ↑
• Both bathroom updates — updating bathrooms would improve both resale and rental value ↑
• Both exterior paint — fresh paint would improve curb appeal and value ↑
• Both landscaping — improved landscaping would enhance curb appeal and 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: Aztec Municipal Schools
• NCES district ID: 3500150
• Math proficiency: 18% ▲ 2.00%
• Reading proficiency: 61% ▲ 33.00%
• Median HH income: $50,522
• Composite: 33.95/100
• National rank: #5328
• State rank: #12 of 29 in NM

Livability — Aztec

• Score: 61/100
• State rank: #98
• US rank: #18096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aztec, NM
• Population (ZIP): 14,372

Population outlook (San Juan County) Hauer SSP2

• Today (2025): 95,201 people
• By 2030: 84,154 · -11.6%
• By 2040: 63,810 · -33.0%
• By 2050: 46,929 · -50.7%
• By 2075: 21,097 · -77.8%
• By 2100: 9,410 · -90.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 63% Hispanic / Latino 20% Native American 12% Two or more races 8% Black 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 86% English-only · Spanish 8%

Political lean MEDSL · San Juan

• 2024 margin: Solid R (+31.7) · D 33.0% · R 64.7% · Other 2.3%
• 2008→2024 swing: -10.6pp toward R · 2008: -21.2pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+28.3 2016: R+33.1 2012: R+28.5 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.31%
• Current HPI: 156.6284
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+287.3% since first listed

3 events — show timeline

• 2026-05-13 Listed $386,933 SJCMLS
• 2016-04-27 Sold (MLS) — SJCMLS
• 2015-11-16 Listed $99,900 SJCMLS