103 Catron Unit 60-C · Santa Fe, NM 87501

$70,000

2 bd · 2.5 ba · 1,750 sqft · SingleFamily · 306 Days on market

Built 2005 Good condition 20 ac lot $912/mo HOA · 28% of rent

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to effortless ownership in one of Santa Fe’s most coveted downtown residences. This 1/8 deeded fractional share in El Corazón de Santa Fe offers an incredible opportunity to enjoy the richness of downtown Santa Fe without the commitment or expense of full ownership. Unit 60, a spacious and stylish Montana model, spans 1,750 square feet across two levels. With 2 bedrooms, 2.5 bathrooms, and elegant Santa Fe-inspired architecture, the home features authentic touches like vigas, a cozy kiva fireplace, and hand-selected furnishings. The gourmet kitchen is fully equipped with premium appliances and cookware, ready for a quiet dinner at home or entertaining guests. Thoughtfully designed indoor and outdoor spaces—including a private patio and upstairs balcony—create the ideal setting to relax and unwind in the heart of downtown. Just moments from the historic Plaza, you’ll be immersed in the art, culture, dining, and history that make Santa Fe a world-class destination. As part of The Residence Club at El Corazón, ownership is fully managed for your convenience. From housekeeping and linens to landscaping, maintenance, and security, every detail is handled professionally so you can enjoy every moment of your stay. Furnishings are regularly refreshed to maintain a high-end, comfortable feel throughout. Owners enjoy flexible scheduling within the Montana series, plus exclusive access to luxury exchange networks including The Registry Collection, Hyatt Vacation Club, and Interval International—expanding your travel possibilities around the globe. All-inclusive HOA fees cover everything: property taxes, insurance, utilities, and upkeep, making it not only easy but also financially predictable. Whether you're looking for a refined getaway, a second home, or an inspired way to experience Santa Fe, this is a rare chance to enjoy high-end living at a fraction of the cost.

Key facts

• Historic plaza
• Upstairs balcony
• Gourmet kitchen

Tags

• SANTA FE INSPIRED ARCHITECTURE
• COZY KIVA FIREPLACE
• GOURMET KITCHEN
• PRIVATE PATIO
• UPSTAIRS BALCONY
• HISTORIC PLAZA

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.2% vs local median 2.4% in Santa Fe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#9 in NM, #4,641 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F.
• Santa Fe Public Schools (urban): math 34% / reading 70% proficiency, ranked #6 of 29 in NM (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 235 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 244 units permitted in Santa Fe County in 2024 (0 in 5+ unit buildings).
• At $3,238/mo this rent would consume 49% of the median local household income ($80k/yr) (locally 905% 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 306 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 306 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 4.63% ✓
• Cap rate: 26.22%
• Cash-on-cash: 71.16%
• DSCR: 4.17
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $1,081,500
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
521 Webber St	0.75mi	3/2.0 (+1)	1,780 (+2%)	1mo	$1,100,000	$618	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 70.5%
• Equity multiple: 4.17×
• Total profit: $62,160
• Equity at exit: $10,437

10-year hold

• IRR: 74.4%
• Equity multiple: 8.52×
• Total profit: $147,298
• Equity at exit: $6,052

Cash invested: $19,600 (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 87501

• Rents YoY: 2.6%
• Active inventory: 235
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $3,238 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$912
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $1,162

Break-even live

Break-even rent $1,767

Max offer price $70,000

Occupancy floor 59%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Staab St Santa Fe, NM	3.0	2.0	1800	$3,900	$2.17	21d	1	0.17mi
326 Staab St Unit NA Santa Fe, NM	3.0	2.0	1800	$3,900	$2.17	43d	1	0.17mi
602 Griffin St Santa Fe, NM	2.0	2.0	1500	$3,500	$2.33	43d	1	0.29mi
101 Williams St Unit A Santa Fe, NM	2.0	2.0	1314	$3,500	$2.66	43d	1	0.51mi
602 Agua Fria St Santa Fe, NM	2.0	1.5	1300	$2,950	$2.27	43d	1	0.61mi
231 W Manhattan Ave Unit A Santa Fe, NM	2.0	2.0	1250	$3,500	$2.80	43d	1	0.67mi
126 Fiesta St Santa Fe, NM	2.0	1.0	2094	$2,300	$1.10	21d	1	0.70mi
216 Miramonte St Santa Fe, NM	3.0	1.5	1300	$2,850	$2.19	43d	1	0.86mi
701 Camino de la Familia Santa Fe, NM	1.0	2.0	1408	$3,375	$2.40	21d	1	0.98mi
508 Franklin Ave Santa Fe, NM	2.0	1.0	1900	$2,300	$1.21	21d	1	1.07mi
903 Don Gaspar Ave Santa Fe, NM	2.0	1.0	1600	$3,500	$2.19	21d	1	1.10mi
406 Cortez Pl Santa Fe, NM	3.0	2.0	1450	$2,650	$1.83	43d	1	1.19mi

HOA detail

• Monthly dues: $912 · $10,944/yr
• Likely covers: gaslandscapingsecurity

Listing history 17 events

1. 2026-06-19
   days on market $70,000 Active 306 DOM
2. 2026-06-18
   days on market $70,000 Active 305 DOM
3. 2026-06-17
   days on market $70,000 Active 304 DOM
4. 2026-06-16
   days on market $70,000 Active 303 DOM
5. 2026-06-15
   days on market $70,000 Active 302 DOM
6. 2026-06-14
   days on market $70,000 Active 300 DOM
7. 2026-06-13
   days on market $70,000 Active 299 DOM
8. 2026-06-10
   days on market $70,000 Active 297 DOM
9. 2026-06-09
   days on market $70,000 Active 296 DOM
10. 2026-06-08
    days on market $70,000 Active 295 DOM
11. 2026-06-07
    days on market $70,000 Active 294 DOM
12. 2026-06-03
    days on market $70,000 Active 290 DOM
13. 2026-06-02
    days on market $70,000 Active 289 DOM
14. 2026-06-01
    days on market $70,000 Active 288 DOM
15. 2026-05-31
    days on market $70,000 Active 287 DOM
16. 2026-05-30
    days on market $70,000 Active 286 DOM
17. 2025-08-17
    listed $70,000 Active 1941-char remark

    Show marketing remark (1941 chars)

    Welcome to effortless ownership in one of Santa Fe’s most coveted downtown residences. This 1/8 deeded fractional share in El Corazón de Santa Fe offers an incredible opportunity to enjoy the richness of downtown Santa Fe without the commitment or expense of full ownership. Unit 60, a spacious and stylish Montana model, spans 1,750 square feet across two levels. With 2 bedrooms, 2.5 bathrooms, and elegant Santa Fe-inspired architecture, the home features authentic touches like vigas, a cozy kiva fireplace, and hand-selected furnishings. The gourmet kitchen is fully equipped with premium appliances and cookware, ready for a quiet dinner at home or entertaining guests. Thoughtfully designed indoor and outdoor spaces—including a private patio and upstairs balcony—create the ideal setting to relax and unwind in the heart of downtown. Just moments from the historic Plaza, you’ll be immersed in the art, culture, dining, and history that make Santa Fe a world-class destination. As part of The Residence Club at El Corazón, ownership is fully managed for your convenience. From housekeeping and linens to landscaping, maintenance, and security, every detail is handled professionally so you can enjoy every moment of your stay. Furnishings are regularly refreshed to maintain a high-end, comfortable feel throughout. Owners enjoy flexible scheduling within the Montana series, plus exclusive access to luxury exchange networks including The Registry Collection, Hyatt Vacation Club, and Interval International—expanding your travel possibilities around the globe. All-inclusive HOA fees cover everything: property taxes, insurance, utilities, and upkeep, making it not only easy but also financially predictable. Whether you're looking for a refined getaway, a second home, or an inspired way to experience Santa Fe, this is a rare chance to enjoy high-end living at a fraction of the cost.

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 8 d/yr ≥88°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,857
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$3,109
• − Management: −$3,109
• − HOA: −$10,944
• − Depreciation: −$2,036
• Taxable income: $14,338
• Est. tax owed @ 24.0%: −$3,441
• After-tax cash flow: $10,507/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 · 13 photos

Good 80/100 Cosmetic rehab

This property is in excellent condition with minimal repairs needed. It offers a great opportunity for a potential buyer or renter looking for a move-in-ready home in a desirable location.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Reorganizing furniture and decor — Creates a more inviting and functional living space.
• Both Updating window treatments — Improves natural light and privacy.
• Both Adding smart home features — Enhances convenience and energy efficiency.
• Both Upgrading appliances — Improves functionality and appeal for potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Reorganizing furniture and decor — Creates a more inviting and functional living space. ↑
• Both Updating window treatments — Improves natural light and privacy. ↑
• Both Adding smart home features — Enhances convenience and energy efficiency. ↑
• Both Upgrading appliances — Improves functionality and appeal for potential buyers/renters. ↑

ⓘ 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: Santa Fe Public Schools
• NCES district ID: 3502370
• Math proficiency: 34% ▲ 16.00%
• Reading proficiency: 70% ▲ 40.00%
• Median HH income: $55,031
• Composite: 44.78/100
• National rank: #2744
• State rank: #6 of 29 in NM

Livability — Santa Fe

• Score: 74/100
• State rank: #9
• US rank: #4641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Fe, NM
• County: Santa Fe County · 118,003 people
• City population: 118,003
• Metro: Santa Fe, NM
• Population (ZIP): 16,007
• Household income: $79,603
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 905.0

Population outlook (Santa Fe County) Hauer SSP2

• Today (2025): 156,674 people
• By 2030: 159,422 · +1.8%
• By 2040: 160,891 · +2.7%
• By 2050: 159,966 · +2.1%
• By 2075: 161,318 · +3.0%
• By 2100: 157,302 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 15% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 12% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Santa Fe

• 2024 margin: Solid D (+48.9) · D 73.3% · R 24.4% · Other 2.2%
• 2008→2024 swing: -6.1pp toward R · 2008: 55.0pp · 2024: 48.9pp
• All cycles: 2024: D+48.9 2020: D+53.8 2016: D+51.0 2012: D+51.0 2008: D+55.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -595.93%
• Current HPI: 250.8292
• Rent YoY: ▲ 2.65%
• Metro: Santa Fe, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-08-17 Listed $70,000 Santa Fe MLS