1500 Gladys Dr · Las Cruces, NM 88001

$180,000

5 bd · 3.0 ba · 1,755 sqft · SingleFamily public records · 158 Days on market

Built 1954 6,300 sqft lot $103/sqft · 26% below area Est $243k · 26% under

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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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Schools +4.6/10.0
• 1% rule +3.8/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Increase because home now has heat. This charming 5-bedroom, 2.25-bathroom home offers the perfect blend of convenience, comfort, and potential. This 1,755 square foot property provides endless possibilities to create your ideal home. The property includes a detached storage shed. The backyard offers unlimited potential to create your dream outdoor oasis. Make your appointment today for a showing!

Key facts

• 6,300 sq ft lot
• Built 1954
• Listed 157 days

Tags

• DETACHED STORAGE SHED

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (11.7% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#120 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities D+, schools D-, crime F.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 143 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• At $1,589/mo this rent would consume 58% of the median local household income ($33k/yr) (locally 2590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 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 1954 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 0.88% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.24%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (median comp): $242,519
• List price: $180,000
• Delta: -25.78%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-19,833
• Equity at exit: $26,839

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-3,334
• Equity at exit: $15,563

Cash invested: $50,400 (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 88001

• Rents YoY: 3.5%
• Active inventory: 143
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $136

Break-even live

Break-even rent $1,417

Max offer price $180,000

Occupancy floor 86%

Sensitivity live

Price	-10% $238	-5% $187	+0% $136	+5% $85	+10% $34
Rent	-10% $11	-5% $73	+0% $136	+5% $199	+10% $262
Rate	-1.0pp $227	-0.5pp $182	base $136	+0.5pp $89	+1.0pp $42

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1429 Walden Dr Las Cruces, NM	4.0	2.0	2200	$1,700	$0.77	14d	1	0.22mi

Listing history 15 events

1. 2026-06-18
   days on market $180,000 Active 158 DOM
2. 2026-06-17
   days on market $180,000 Active 157 DOM
3. 2026-06-16
   days on market $180,000 Active 156 DOM
4. 2026-06-15
   days on market $180,000 Active 155 DOM
5. 2026-06-14
   days on market $180,000 Active 153 DOM
6. 2026-06-13
   days on market $180,000 Active 152 DOM
7. 2026-06-10
   days on market $180,000 Active 150 DOM
8. 2026-06-09
   days on market $180,000 Active 149 DOM
9. 2026-06-08
   days on market $180,000 Active 148 DOM
10. 2026-06-07
    days on market $180,000 Active 147 DOM
11. 2026-06-02
    days on market $180,000 Active 142 DOM
12. 2026-06-01
    days on market $180,000 Active 141 DOM
13. 2026-05-31
    days on market $180,000 Active 140 DOM
14. 2026-05-30
    days on market $180,000 Active 139 DOM
15. 2026-01-11
    listed $180,000 Active 407-char remark

    Show marketing remark (407 chars)

    Price Increase because home now has heat. This charming 5-bedroom, 2.25-bathroom home offers the perfect blend of convenience, comfort, and potential. This 1,755 square foot property provides endless possibilities to create your ideal home. The property includes a detached storage shed. The backyard offers unlimited potential to create your dream outdoor oasis. Make your appointment today for a showing!

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $1,440 · $120/mo
• Expected delta: +$236/yr (+$20/mo · 19.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 25 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: $19,068
• − Mortgage interest: −$10,083
• − Property taxes: −$1,204
• − Insurance: −$900
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$5,236
• Taxable loss: −$1,406
• Est. tax savings @ 24.0%: +$337
• After-tax cash flow: $1,970/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: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Las Cruces

• Score: 59/100
• State rank: #120
• US rank: #19687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Cruces, NM
• County: Dona Ana County · 144,044 people
• City population: 131,421
• Metro: Las Cruces, NM
• Population (ZIP): 37,690
• Household income: $33,087
• Rent vs Own: 58.3% rent · 41.7% own
• Severe rent burden: 2590.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 24% White 21% Black 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Slovak 1% Italian 1% Romanian 1%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -239.44%
• Current HPI: 219.0404
• Rent YoY: ▲ 3.45%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-11 Listed $180,000 SNMMLS as distributed by MLS GRID

Property tax history

+2.0%/yr

Latest (2025): $1,204 · +2.4% YoY. Source: county tax records.