401 Apple St · House, NM 88121

$95,000

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 320 Days on market

Built 1965 1.41 ac lot $75/sqft · 16% below area Est $100k · 5% under

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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 +24.9/30.0
• ARV discount +9.8/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

Key facts

• Big workshop
• 1.4 acres
• Root cellar

Tags

• ROOT CELLAR
• BIG WORKSHOP
• 1.4 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#243 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime F, amenities F.
• Market conditions: 1 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Quay County population projected at -35% 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.20%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $100,171
• List price: $95,000
• Delta: -5.16%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.1%
• Equity multiple: 1.92×
• Total profit: $24,448
• Equity at exit: $42,716

10-year hold

• IRR: 17.7%
• Equity multiple: 3.59×
• Total profit: $68,869
• Equity at exit: $65,831

Cash invested: $26,600 (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 88121

• Active inventory: 1
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,089 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $204

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 76%

Sensitivity live

Price	-10% $270	-5% $237	+0% $204	+5% $171	+10% $138
Rent	-10% $118	-5% $161	+0% $204	+5% $247	+10% $290
Rate	-1.0pp $252	-0.5pp $228	base $204	+0.5pp $179	+1.0pp $154

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $95,000 Active 320 DOM
2. 2026-06-18
   days on market $95,000 Active 318 DOM
3. 2026-06-17
   days on market $95,000 Active 317 DOM
4. 2026-06-16
   days on market $95,000 Active 316 DOM
5. 2026-06-15
   days on market $95,000 Active 315 DOM
6. 2026-06-13
   days on market $95,000 Active 313 DOM
7. 2026-06-12
   days on market $95,000 Active 312 DOM
8. 2026-06-09
   days on market $95,000 Active 309 DOM
9. 2026-06-08
   days on market $95,000 Active 308 DOM
10. 2026-06-07
    days on market $95,000 Active 307 DOM
11. 2026-06-05
    days on market $95,000 Active 305 DOM
12. 2026-06-04
    days on market $95,000 Active 303 DOM
13. 2026-06-02
    days on market $95,000 Active 302 DOM
14. 2026-06-01
    days on market $95,000 Active 301 DOM
15. 2026-05-31
    days on market $95,000 Active 300 DOM
16. 2026-05-02
    status Active 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

17. 2026-04-03
    status Pending 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

18. 2026-03-31
    status Active 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

19. 2026-03-27
    historical 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

20. 2026-01-04
    status Active 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

21. 2025-12-27
    historical 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

22. 2025-06-26
    listed $95,000 Active 650-char remark

    Show marketing remark (650 chars)

    The perfect getaway! This sweet home is located in House, New Mexico a darling community of about 40 families in Eastern New Mexico. House has an excellent school, a community center that provides lunches 5 days a week at a discounted rate to seniors, and at a slightly higher cost to anyone else. This home includes 2 bedrooms, 1 bath, an office with a root cellar, utility room, large kitchen, big workshop/garage as well as a well house several sheds, an outhouse and a genuine bomb shelter. It all sits on 1.4 acres on the outskirts of house. Neighbors are there but not right next to you. THis is just a lovely place. Call to check it out today!

23. 2005-08-15
    soldstatus

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

Taxation est. · year 1

• Rental income: $13,070
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$2,764
• Taxable income: $994
• Est. tax owed @ 24.0%: −$238
• After-tax cash flow: $2,209/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 — House

• Score: 53/100
• State rank: #243
• US rank: #24471

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: House, NM
• Population (ZIP): 143

Population outlook (Quay County) Hauer SSP2

• Today (2025): 7,255 people
• By 2030: 6,656 · -8.3%
• By 2040: 5,560 · -23.4%
• By 2050: 4,702 · -35.2%
• By 2075: 3,404 · -53.1%
• By 2100: 2,593 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Italian 3% Romanian 2%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Quay

• 2024 margin: Solid R (+40.9) · D 28.5% · R 69.4% · Other 2.1%
• 2008→2024 swing: -20.4pp toward R · 2008: -20.5pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.8 2016: R+33.6 2012: R+22.0 2008: R+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

8 events — show timeline

• 2026-05-02 Relisted — NMMLS
• 2026-04-03 Pending — NMMLS
• 2026-03-31 Relisted — NMMLS
• 2026-03-27 Delisted — NMMLS
• 2026-01-04 Relisted — NMMLS
• 2025-12-27 Delisted — NMMLS
• 2025-06-26 Listed $95,000 NMMLS
• 2005-08-15 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $177 · +3.8% YoY. Source: county tax records.