10 Mockingbird Ln · Cloudcroft, NM 88317

$150,000

2 bd · 1.0 ba · 820 sqft · SingleFamily public records · 24 Days on market

Built 1982

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a vacant land. This home is located at 10 Mockingbird Ln, Cloudcroft, NM 88317.

Key facts

• Built 1982
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#107 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: health & safety C-, crime F, amenities F.
• Cloudcroft Municipal Schools (rural): math 28% / reading 48% proficiency, ranked #12 of 95 in NM (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 153 active listings in the ZIP; 6 units permitted in Otero County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 24 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.19% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.0

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-659
• Equity at exit: $22,365

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $29,952
• Equity at exit: $12,969

Cash invested: $42,000 (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 88317

• Home prices YoY: -25.1%
• Active inventory: 153
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,782 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $371

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 74%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $150,000 Active 24 DOM
2. 2026-06-18
   days on market $150,000 Active 23 DOM
3. 2026-06-17
   days on market $150,000 Active 22 DOM
4. 2026-06-16
   days on market $150,000 Active 21 DOM
5. 2026-06-15
   days on market $150,000 Active 20 DOM
6. 2026-06-14
   days on market $150,000 Active 18 DOM
7. 2026-06-12
   days on market $150,000 Active 17 DOM
8. 2026-06-09
   days on market $150,000 Active 14 DOM
9. 2026-06-08
   days on market $150,000 Active 13 DOM
10. 2026-06-07
    days on market $150,000 Active 12 DOM
11. 2026-06-05
    days on market $150,000 Active 9 DOM
12. 2026-06-03
    days on market $150,000 Active 8 DOM
13. 2026-06-02
    days on market $150,000 Active 7 DOM
14. 2026-06-01
    days on market $150,000 Active 6 DOM
15. 2026-05-31
    days on market $150,000 Active 5 DOM
16. 2026-05-30
    days on market $150,000 Active 4 DOM
17. 2026-05-26
    listed $150,000 Active

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 4 d/yr ≥79°F today · 12 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: $21,380
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − Depreciation: −$4,364
• Taxable income: $2,193
• Est. tax owed @ 24.0%: −$526
• After-tax cash flow: $3,924/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: Cloudcroft Municipal Schools
• NCES district ID: 3500540
• Math proficiency: 28% —
• Reading proficiency: 48% —
• Median HH income: $45,499
• Composite: 34.88/100
• National rank: #9996
• State rank: #12 of 95 in NM

Livability — Cloudcroft

• Score: 60/100
• State rank: #107
• US rank: #18938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,633

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 21% Iranian 18% Scottish 5%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 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: ▼ -70.09%
• Current HPI: 209.5308
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $150,000 FSBO.com

Property tax history

-0.4%/yr

Latest (2025): $116 · +2.9% YoY. Source: county tax records.