521 Fifth St N · Ruidoso, NM 88345

$199,999

3 bd · 2.0 ba · 898 sqft · Other public records · 35 Days on market

Built 1973 8,712 sqft lot

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.8/10.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute & Affordable cabin walking distance to Midtown!! All the main rooms have split units in them to provide ultimate heat and air conditioning when needed. Lots of shops & restaurants close by, as well as casinos. Grindstone Lake a couple blocks away for fishing & swimming!! Inn of the mountain Gods about a five-minute drive, come and view this cabin that could be yours!!!

Key facts

• Split units
• Grindstone lake
• 8,712 sq ft lot

Tags

• WALKING DISTANCE TO MIDTOWN
• SPLIT UNITS
• SHOPS AND RESTAURANTS CLOSE BY
• GRINDSTONE LAKE

Property features AI

Finance

• Other: Zoning: R1; Lot is level and on a paved city street; Lot size approximately 0.2 acres; Subdivision: Ruidoso Pine Lodge
• HOA & community: No association amenities

Exterior

• Parking: No garage; on-site parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Single family residence; Updated/remodeled condition; Multi-level (three or more / multi-split); Entry level is 1
• Construction: Wood siding; Metal roof
• Exterior features: No notable exterior features listed; No patio or porch; No fencing; Has a view

Interior

• Kitchen: Gas range; Range hood; Refrigerator
• Bedrooms: Entry level: 1
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (see remarks)
• Interior features: Ceiling fans; Open floor plan; Pantry; Furnished negotiable
• Laundry & utility: Stacked washer/dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (1.9% below list).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#40 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Ruidoso Municipal Schools (town): math 16% / reading 59% proficiency, ranked #14 of 29 in NM (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 593 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 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

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1973 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• GRM: 8.5

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-14,328
• Equity at exit: $29,821

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $10,689
• Equity at exit: $17,292

Cash invested: $56,000 (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 88345

• Active inventory: 593
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,963 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$134 /mo · $1,608/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $285

Break-even live

Break-even rent $1,603

Max offer price $199,999

Occupancy floor 80%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 4th St Ruidoso, NM	3.0	2.0	1080	$2,200	$2.04	43d	1	0.13mi
108 Apache Hills Dr Unit A heuristic Ruidoso, NM	2.0	1.0	726	$1,200	$1.65	25d	1	0.41mi
106 Apache Hills Dr Unit A Ruidoso, NM	2.0	1.0	726	$1,200	$1.65	43d	1	0.42mi
128 Taos Trl Ruidoso, NM	3.0	1.0	1120	$2,400	$2.14	43d	1	1.49mi

Listing history 26 events

1. 2026-06-19
   days on market $199,999 Active 35 DOM
2. 2026-06-18
   days on market $199,999 Active 34 DOM
3. 2026-06-17
   days on market $199,999 Active 33 DOM
4. 2026-06-16
   days on market $199,999 Active 32 DOM
5. 2026-06-15
   days on market $199,999 Active 31 DOM
6. 2026-06-14
   days on market $199,999 Active 29 DOM
7. 2026-06-12
   days on market $199,999 Active 28 DOM
8. 2026-06-09
   days on market $199,999 Active 25 DOM
9. 2026-06-08
   days on market $199,999 Active 24 DOM
10. 2026-06-07
    days on market $199,999 Active 23 DOM
11. 2026-06-04
    days on market $199,999 Active 19 DOM
12. 2026-06-02
    days on market $199,999 Active 18 DOM
13. 2026-06-01
    days on market $199,999 Active 17 DOM
14. 2026-05-31
    days on market $199,999 Active 16 DOM
15. 2026-05-31
    days on market $199,999 Active 15 DOM
16. 2026-05-15
    listed $199,999 Active 394-char remark
17. 2025-10-30
    price $196,000
18. 2025-09-19
    price $201,000
19. 2024-09-09
    listed $249,000 Active
20. 2023-05-26
    soldstatus Closed
21. 2023-05-26
    soldstatus
22. 2023-01-09
    listed $185,500 Active
23. 2015-10-02
    soldstatus
24. 2015-08-31
    listed $29,000
25. 2015-08-31
    listed $29,000
26. 2008-08-08
    soldstatus

ⓘ 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: $1,608 · $134/mo
• Projected year-2 tax: $1,608 · $134/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 10/10 Extreme
• 🌡 Heat 1/10 Low 8 d/yr ≥86°F today · 25 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,555
• − Mortgage interest: −$11,203
• − Property taxes: −$1,608
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − Depreciation: −$5,818
• Taxable income: $157
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $3,377/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: Ruidoso Municipal Schools
• NCES district ID: 3502310
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $44,094
• Composite: 31.68/100
• National rank: #5925
• State rank: #14 of 29 in NM

Livability — Ruidoso

• Score: 66/100
• State rank: #40
• US rank: #11996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruidoso, NM
• County: Lincoln County · 7,835 people
• City population: 7,835
• Metro: Ruidoso, NM
• Population (ZIP): 7,835
• Household income: $53,971
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 156.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 14% Native American 1% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 4% Slovak 3% Danish 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 81% English-only · Spanish 17%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.17%
• Current HPI: 141.9549
• Rent YoY: —
• Metro: Ruidoso, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+589.7% since first listed

11 events — show timeline

• 2026-05-15 Listed $199,999 RLCAR
• 2025-10-30 Price Changed $196,000 RLCAR
• 2025-09-19 Price Changed $201,000 RLCAR
• 2024-09-09 Listed $249,000 RLCAR
• 2023-05-26 Sold (Public Records) — Public Records
• 2023-05-26 Sold (MLS) — RLCAR
• 2023-01-09 Listed $185,500 RLCAR
• 2015-10-02 Sold (MLS) — RLCAR
• 2015-08-31 Listed $29,000 RLCAR
• 2015-08-31 Listed $29,000 GEPARMLS
• 2008-08-08 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,608 · +0.4% YoY. Source: county tax records.