1 Desert Dr · Boles Acres, NM 88310

$140,000

3 bd · 1.75 ba · 1,904 sqft · Manufactured · 6 Days on market

Built 1996 Fair condition 0.25 ac lot

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This manufactured home sits on a fully fenced 1/4 acre lot in La Luz, with a 2 car carport, re-roofed in 2018, on permanent foundation, block fence, pistachio trees. 3 bedroom 1.75 bath, large rooms, deck on front and back, 2 storage sheds in yard.

Key facts

• 2 car carport
• Fully fenced
• Pistachio trees

Tags

• FULLY FENCED
• 2 CAR CARPORT
• PERMANENT FOUNDATION
• BLOCK FENCE
• PISTACHIO TREES
• DECK ON FRONT AND BACK

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Septic tank
• Home design: Manufactured home; Single-story; Residential property
• Construction: Wood siding; Shingle roof
• Exterior features: Deck; Shed(s); Corner lot

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Flooring: Carpet; Tile
• Heating & cooling: Forced air heating; Central air; Ceiling fans
• Interior features: Eat-in kitchen; Vaulted ceilings; Walk-in closets; Window coverings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.75-bath manufactured listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

Location & tenants

• Location reads 65/100 on livability (#47 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Alamogordo Public Schools (town): math 26% / reading 39% proficiency, ranked #26 of 95 in NM (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 444 active listings in the ZIP; 6 units permitted in Otero County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Otero County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $140,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.09%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.65% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,848
• Equity at exit: $20,874

10-year hold

• IRR: 6.9%
• Equity multiple: 1.49×
• Total profit: $19,189
• Equity at exit: $12,105

Cash invested: $39,200 (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 88310

• Rents YoY: 1.6%
• Active inventory: 444
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $362

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 73%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $140,000 Active 6 DOM
2. 2026-06-17
   days on market $140,000 Active 5 DOM
3. 2026-06-16
   days on market $140,000 Active 4 DOM
4. 2026-06-15
   days on market $140,000 Active 3 DOM
5. 2026-06-13
   remarks 248-char remark
6. 2026-06-13
   listed $140,000 Active 1 DOM

ⓘ 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: $20,198
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$4,073
• Taxable income: $2,251
• Est. tax owed @ 24.0%: −$540
• After-tax cash flow: $3,806/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 manufactured home requires moderate repairs and updates to its kitchen and bathrooms, as well as some landscaping. It has a good roof and is on a permanent foundation, making it a solid investment with room for improvement.

Repairs flagged

• Moderate Kitchen cabinets — Dated appearance
• Moderate Bathroom fixtures — Dated appearance
• Minor Landscaping — Some vegetation needs trimming

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace countertops — Modern countertops improve functionality and aesthetics
• Resale Update bathroom fixtures — Modern fixtures enhance functionality and aesthetics
• Rental Landscaping — Well-maintained landscaping improves curb appeal and tenant satisfaction

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dated appearance	Moderate	$3,000–15,000
Bathroom fixtures · Dated appearance	Moderate	$3,000–15,000
Landscaping · Some vegetation needs trimming	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace countertops — Modern countertops improve functionality and aesthetics ↑
• Resale Update bathroom fixtures — Modern fixtures enhance functionality and aesthetics ↑
• Rental Landscaping — Well-maintained landscaping improves curb appeal and 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: Alamogordo Public Schools
• NCES district ID: 3500030
• Math proficiency: 26% —
• Reading proficiency: 39% —
• Median HH income: $42,194
• Composite: 30.24/100
• National rank: #11572
• State rank: #26 of 95 in NM

Livability — Boles Acres

• Score: 65/100
• State rank: #47
• US rank: #12466

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Otero County · 36,983 people
• City population: 696
• Metro: Alamogordo, NM
• Population (ZIP): 36,983
• Household income: $57,214
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1231.0

Population outlook (Otero County) Hauer SSP2

• Today (2025): 62,967 people
• By 2030: 62,164 · -1.3%
• By 2040: 60,253 · -4.3%
• By 2050: 58,575 · -7.0%
• By 2075: 55,411 · -12.0%
• By 2100: 48,551 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 31% Two or more races 18% Black 5% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 12% Tagalog/Filipino 1%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+27.0) · D 35.4% · R 62.4% · Other 2.2%
• 2008→2024 swing: -7.7pp toward R · 2008: -19.3pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+25.6 2016: R+29.1 2012: R+28.0 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.88%
• Current HPI: 181.737
• Rent YoY: ▲ 1.65%
• Metro: Alamogordo, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-12 Listed $140,000 OCAOR