206 Park Ave · Wagon Mound, NM 87752

$65,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily · 605 Days on market

Built 1910 Fair condition 0.41 ac lot ↓ 41% since listing

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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
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0

Listing remarks MLS

Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

Key facts

• Adobe house
• Tin roof
• Propane wood stove

Tags

• ADOBE HOUSE
• ORIGINAL WOOD FLOORS
• STUCCOED RECENTLY
• TIN ROOF
• PROPANE WOOD STOVE
• FENCED PROPERTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#215 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Wagon Mound Public Schools (rural): math 11% / reading 11% proficiency, ranked #86 of 95 in NM (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Mora County population projected at -38% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 605 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $45k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 605 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.52% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.94%
• DSCR: 1.98
• GRM: 5.5

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: 28.2%
• Equity multiple: 2.60×
• Total profit: $29,039
• Equity at exit: $29,227

10-year hold

• IRR: 28.7%
• Equity multiple: 5.05×
• Total profit: $73,705
• Equity at exit: $45,042

Cash invested: $18,200 (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 87752

• Active inventory: 2
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $990 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $333

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 61%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $65,000 Active 605 DOM
2. 2026-06-17
   days on market $65,000 Active 604 DOM
3. 2026-06-16
   days on market $65,000 Active 603 DOM
4. 2026-06-15
   days on market $65,000 Active 602 DOM
5. 2026-06-13
   days on market $65,000 Active 600 DOM
6. 2026-06-12
   days on market $65,000 Active 599 DOM
7. 2026-06-09
   days on market $65,000 Active 596 DOM
8. 2026-06-08
   days on market $65,000 Active 595 DOM
9. 2026-06-07
   days on market $65,000 Active 594 DOM
10. 2026-06-05
    days on market $65,000 Active 592 DOM
11. 2026-06-04
    days on market $65,000 Active 590 DOM
12. 2026-06-02
    days on market $65,000 Active 589 DOM
13. 2026-06-01
    days on market $65,000 Active 588 DOM
14. 2026-05-31
    days on market $65,000 Active 587 DOM
15. 2026-05-11
    price $65,000 346-char remark

    Show marketing remark (346 chars)

    Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

16. 2026-05-08
    status Active 346-char remark

    Show marketing remark (346 chars)

    Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

17. 2026-04-24
    status Pending 346-char remark

    Show marketing remark (346 chars)

    Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

18. 2025-09-30
    price $100,000 346-char remark

    Show marketing remark (346 chars)

    Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

19. 2025-06-17
    price $105,000 346-char remark

    Show marketing remark (346 chars)

    Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

20. 2024-10-07
    listed $110,000 Active 346-char remark

    Show marketing remark (346 chars)

    Quaint adobe house on almost half an acre in Wagon Mound. Original wood floors and antique linoleum on some floors! The owners have recently stuccoed it, painted it inside and out, and replaced eight windows. Tin roof and propane wood stove and wall heater. Attic and small basement. The entire property is fenced. In the same family for decades.

ⓘ 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: $11,878
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$1,891
• Taxable income: $3,146
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,238/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

A fair condition adobe house with moderate rehab needs, recently stuccoed and painted, but showing signs of wear. Repairs to the roof and exterior are needed.

Repairs flagged

• Major roof — Rusty tin roof
• Major exterior — Stuccoed exterior, but shows signs of wear

Value-add opportunities

• Resale paint interior walls — Fresh paint enhances curb appeal
• Rental replace linoleum flooring — New flooring improves tenant satisfaction

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Rusty tin roof	Major	$15,000–50,000
exterior · Stuccoed exterior, but shows signs of wear	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale paint interior walls — Fresh paint enhances curb appeal ↑
• Rental replace linoleum flooring — New flooring improves tenant satisfaction ↑

ⓘ 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: Wagon Mound Public Schools
• NCES district ID: 3502730
• Math proficiency: 11% —
• Reading proficiency: 11% —
• Median HH income: $34,073
• Composite: 12.55/100
• National rank: #14560
• State rank: #86 of 95 in NM

Livability — Wagon Mound

• Score: 55/100
• State rank: #215
• US rank: #23583

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wagon Mound, NM
• Population (ZIP): 706

Population outlook (Mora County) Hauer SSP2

• Today (2025): 3,991 people
• By 2030: 3,684 · -7.7%
• By 2040: 3,032 · -24.0%
• By 2050: 2,461 · -38.3%
• By 2075: 1,595 · -60.0%
• By 2100: 1,000 · -74.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% White 35% Two or more races 18% Native American 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 3%
• Common ancestry: Lithuanian 21% Portuguese 20% Italian 3%
• Foreign-born: 0% · Canada
• Languages at home: 57% English-only · Spanish 42% Arabic 1%

Political lean MEDSL · Mora

• 2024 margin: D (+17.2) · D 57.9% · R 40.6% · Other 1.5%
• 2008→2024 swing: -40.7pp toward R · 2008: 57.9pp · 2024: 17.2pp
• All cycles: 2024: D+17.2 2020: D+31.4 2016: D+35.9 2012: D+52.3 2008: D+57.9

Not yet ingested

• Civics: —

Market trends

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

Price history

-40.9% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $65,000 Santa Fe MLS
• 2026-05-08 Relisted — Santa Fe MLS
• 2026-04-24 Pending — Santa Fe MLS
• 2025-09-30 Price Changed $100,000 Santa Fe MLS
• 2025-06-17 Price Changed $105,000 Santa Fe MLS
• 2024-10-07 Listed $110,000 Santa Fe MLS