214 Todd St

Santa Clara, NM 88026

$97,999B

3 bd · 2.5 ba · 1,714 sqft · Built 1970 · Manufactured · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,228/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $293/mo
• Annual: $3,518/yr
• Cap rate: 9.88%
• Cash-on-cash: 12.82%
• DSCR: 1.57
• 1% rule: 1.25%
• Cash to close: $27,440

Investor read

• This is a 3-bed/2.5-bath manufactured listed at $98k. Condition is rated average.
• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 93 days — a 9% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (9.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($677 loan paydown + $5k appreciation (5.0% local appreciation)).
• Location reads 61/100 on livability (#94 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools F, amenities F, commute F.
• Cobre Consolidated Schools (town): math 13% / reading 33% proficiency, ranked #56 of 95 in NM (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP.
• Grant County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops — Worn appearance
• Minor: Bathroom vanity — Worn appearance
• Moderate: Exterior siding — Signs of wear
• Moderate: Interior walls — Paint appears faded
• Moderate: Windows — Worn appearance
• Moderate: Foundation cracks — Visible cracks