710 Colfax Ave · Springer, NM 87747

$25,000

2 bd · 1.0 ba · 980 sqft · Other · 31 Days on market

Built 1930 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 opportunity. Corner lot close to schools, shopping, and amenities. Cute house with lots of potential. This property features 2 bedrooms and one Bath. This property is perfect for a DIYer or seasoned home flipper. No information on condition of utilities. Contact the listing office to schedule your viewing.

Key facts

• 7,000 sq ft lot
• Built 1930
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($868 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 ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1930 — 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 31 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 1930 — 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: 3.47% ✓
• Cap rate: 31.25%
• Cash-on-cash: 89.12%
• DSCR: 4.97
• GRM: 2.4

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: 93.4%
• Equity multiple: 6.16×
• Total profit: $36,131
• Equity at exit: $11,241

10-year hold

• IRR: 93.0%
• Equity multiple: 12.75×
• Total profit: $82,235
• 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: 2.4×

Monthly cashflow live

• Estimated rent: $868 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$24 /mo · $292/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $520

Break-even live

Break-even rent $210

Max offer price $25,000

Occupancy floor 35%

Sensitivity live

Price	-10% $534	-5% $527	+0% $520	+5% $513	+10% $506
Rent	-10% $451	-5% $486	+0% $520	+5% $554	+10% $588
Rate	-1.0pp $532	-0.5pp $526	base $520	+0.5pp $513	+1.0pp $507

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 3 events

1. 2026-05-06
   status Active 318-char remark

   Show marketing remark (318 chars)

   Investment opportunity. Corner lot close to schools, shopping, and amenities. Cute house with lots of potential. This property features 2 bedrooms and one Bath. This property is perfect for a DIYer or seasoned home flipper. No information on condition of utilities. Contact the listing office to schedule your viewing.

2. 2025-08-29
   historical 318-char remark

   Show marketing remark (318 chars)

   Investment opportunity. Corner lot close to schools, shopping, and amenities. Cute house with lots of potential. This property features 2 bedrooms and one Bath. This property is perfect for a DIYer or seasoned home flipper. No information on condition of utilities. Contact the listing office to schedule your viewing.

3. 2025-08-18
   listed $25,000 Active 318-char remark

   Show marketing remark (318 chars)

   Investment opportunity. Corner lot close to schools, shopping, and amenities. Cute house with lots of potential. This property features 2 bedrooms and one Bath. This property is perfect for a DIYer or seasoned home flipper. No information on condition of utilities. Contact the listing office to schedule your viewing.

ⓘ 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: $292 · $24/mo
• Projected year-2 tax: $292 · $24/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,416
• − Mortgage interest: −$1,400
• − Property taxes: −$292
• − Insurance: −$125
• − Repairs & maintenance: −$833
• − Management: −$833
• − Depreciation: −$727
• Taxable income: $6,205
• Est. tax owed @ 24.0%: −$1,489
• After-tax cash flow: $4,749/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

3 events — show timeline

• 2026-05-06 Relisted — NMMLS
• 2025-08-29 Delisted — NMMLS
• 2025-08-18 Listed $25,000 NMMLS

Property tax history

-2.6%/yr

Latest (2025): $292 · -32.7% YoY. Source: county tax records.