18 South Kiowa · Questa, NM 87556

$245,000

4 bd · 1.5 ba · 2,014 sqft · SingleFamily · 64 Days on market

Built 1936 Fair condition 1.00 ac lot $122/sqft · 47% below area Est $462k · 47% under

---

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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.5/10.0

Listing remarks MLS

This classic adobe home located next to the Red River in the heart of Questa offers a plethora of opportunity. With traditional Southwestern character on a desirable 1-acre lot with stunning Sangre de Cristo Mountain views, this is where you want to make your home sweet home. Featuring four bedrooms and one and a half baths, the property is conveniently close to State Road 38, Eagle Rock Lake, and the Village of Red River. Inside, authentic Southwestern details match the adobe—like the viga and latilla ceilings that reflect the true character of this home. The generous footprint provides serious flexibility, perfect for setting up a home office, art studio, yoga space, or hosting guests. Maintaining its classic character, this home is in good condition for its age and presents an excellent opportunity for restoration or a fixer-upper project, should the next owner desire it. The location is ideal for outdoor enthusiasts, with fishing just minutes away at the Red River, Cabresto Lake, and Eagle Rock Lake, skiing and boarding at Red River Ski Resort, and plenty of trails for ATVs, hiking, hunting, biking, and more. A short drive south you will find downtown Taos for shopping and a plethora of activities; not far north you will reach the RCCLA for more outdoor exploring, or Denver and Colorado Springs for a weekend getaway. This home and land in the heart of Questa has some serious potential—don't miss the chance to shape its bright future!

Key facts

• 1 acre lot
• 2 parking spots
• Built 1936

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $245k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#129 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, schools F.
• Questa Independent Schools (rural): math 7% / reading 23% proficiency, ranked #79 of 95 in NM (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 127 units permitted in Taos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Taos County population projected at -16% 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 $69k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $230,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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 1936 — 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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $462,004
• List price: $245,000
• Delta: -46.97%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.4%
• Equity multiple: 1.77×
• Total profit: $52,536
• Equity at exit: $110,163

10-year hold

• IRR: 15.3%
• Equity multiple: 3.26×
• Total profit: $154,906
• Equity at exit: $169,774

Cash invested: $68,600 (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 87556

• Active inventory: 60
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $361

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 81%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 Bosque Rd Questa, NM	4.0	3.0	2240	$2,600	$1.16	43d	1	0.81mi

Listing history 15 events

1. 2026-06-18
   days on market $245,000 Active 64 DOM
2. 2026-06-17
   days on market $245,000 Active 63 DOM
3. 2026-06-16
   pricedays on market $245,000 Active 62 DOM
4. 2026-06-15
   days on market $255,000 Active 61 DOM
5. 2026-06-13
   days on market $255,000 Active 59 DOM
6. 2026-06-12
   days on market $255,000 Active 58 DOM
7. 2026-06-09
   days on market $255,000 Active 55 DOM
8. 2026-06-08
   days on market $255,000 Active 54 DOM
9. 2026-06-07
   days on market $255,000 Active 53 DOM
10. 2026-06-05
    days on market $255,000 Active 51 DOM
11. 2026-06-04
    days on market $255,000 Active 49 DOM
12. 2026-06-02
    days on market $255,000 Active 48 DOM
13. 2026-06-01
    days on market $255,000 Active 47 DOM
14. 2026-05-31
    days on market $255,000 Active 46 DOM
15. 2026-04-16
    listed $255,000 Active 1473-char remark

    Show marketing remark (1473 chars)

    This classic adobe home located next to the Red River in the heart of Questa offers a plethora of opportunity. With traditional Southwestern character on a desirable 1-acre lot with stunning Sangre de Cristo Mountain views, this is where you want to make your home sweet home. Featuring four bedrooms and one and a half baths, the property is conveniently close to State Road 38, Eagle Rock Lake, and the Village of Red River. Inside, authentic Southwestern details match the adobe—like the viga and latilla ceilings that reflect the true character of this home. The generous footprint provides serious flexibility, perfect for setting up a home office, art studio, yoga space, or hosting guests. Maintaining its classic character, this home is in good condition for its age and presents an excellent opportunity for restoration or a fixer-upper project, should the next owner desire it. The location is ideal for outdoor enthusiasts, with fishing just minutes away at the Red River, Cabresto Lake, and Eagle Rock Lake, skiing and boarding at Red River Ski Resort, and plenty of trails for ATVs, hiking, hunting, biking, and more. A short drive south you will find downtown Taos for shopping and a plethora of activities; not far north you will reach the RCCLA for more outdoor exploring, or Denver and Colorado Springs for a weekend getaway. This home and land in the heart of Questa has some serious potential—don't miss the chance to shape its bright future!

ⓘ 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: $31,200
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$7,127
• Taxable income: $457
• Est. tax owed @ 24.0%: −$110
• After-tax cash flow: $4,221/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

This classic adobe home in Questa, NM, offers a unique opportunity for renovation. With a desirable 1-acre lot and stunning mountain views, the property has potential for significant value increase through updates to the exterior, HVAC, and interior spaces.

Repairs flagged

• Major wood siding — poor condition
• Major HVAC unit — appears old and may need replacement
• Major windows — possibly leaky and in poor condition
• Major kitchen cabinets — dated and in poor condition
• Major bathroom fixtures — outdated and in poor condition
• Major flooring — carpeted floors in poor condition

Value-add opportunities

• Resale new wood siding — enhances curb appeal and value
• Resale HVAC unit replacement — improves comfort and energy efficiency
• Resale new windows — increases energy efficiency and value
• Resale kitchen renovation — modernizes the space and increases value
• Resale bathroom renovation — modernizes the space and increases value
• Resale new flooring — enhances the living space and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
wood siding · poor condition	Major	$15,000–50,000
HVAC unit · appears old and may need replacement	Major	$15,000–50,000
windows · possibly leaky and in poor condition	Major	$15,000–50,000
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · outdated and in poor condition	Major	$15,000–50,000
flooring · carpeted floors in poor condition	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale new wood siding — enhances curb appeal and value ↑
• Resale HVAC unit replacement — improves comfort and energy efficiency ↑
• Resale new windows — increases energy efficiency and value ↑
• Resale kitchen renovation — modernizes the space and increases value ↑
• Resale bathroom renovation — modernizes the space and increases value ↑
• Resale new flooring — enhances the living space and increases value ↑

ⓘ 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: Questa Independent Schools
• NCES district ID: 3502160
• Math proficiency: 7% —
• Reading proficiency: 23% —
• Median HH income: $31,361
• Composite: 15.41/100
• National rank: #14344
• State rank: #79 of 95 in NM

Livability — Questa

• Score: 59/100
• State rank: #129
• US rank: #20235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Questa, NM
• Population (ZIP): 2,433

Population outlook (Taos County) Hauer SSP2

• Today (2025): 32,771 people
• By 2030: 32,128 · -2.0%
• By 2040: 29,938 · -8.6%
• By 2050: 27,593 · -15.8%
• By 2075: 23,279 · -29.0%
• By 2100: 18,948 · -42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% White 26% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Italian 7% Slovak 1% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 55% English-only · Spanish 45%

Political lean MEDSL · Taos

• 2024 margin: Solid D (+47.5) · D 72.4% · R 24.9% · Other 2.8%
• 2008→2024 swing: -17.4pp toward R · 2008: 64.8pp · 2024: 47.5pp
• All cycles: 2024: D+47.5 2020: D+54.8 2016: D+52.0 2012: D+60.2 2008: D+64.8

Not yet ingested

• Civics: —

Market trends

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

Price history

1 event — show timeline

• 2026-04-16 Listed $255,000 TCAR