219 Mountain Ln

Ruidoso Downs, NM 88346

$73,500B

2 bd · 1.0 ba · 1,196 sqft · Built 1955 · SingleFamily · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,042/mo
• Mortgage (P&I): −$385
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $316/mo
• Annual: $3,786/yr
• Cap rate: 11.44%
• Cash-on-cash: 18.40%
• DSCR: 1.82
• 1% rule: 1.42%
• Cash to close: $20,580

Investor read

• This is a 2-bed/1.0-bath single-family listed at $74k. Condition is rated fair.
• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 78 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($508 loan paydown + $3k appreciation (4.7% local appreciation)).
• Location reads 55/100 on livability (#216 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Ruidoso Municipal Schools (town): math 16% / reading 59% proficiency, ranked #14 of 29 in NM (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sierra Vista Primary (497 students, 100% FRL); Ruidoso Middle (math 13% / reading 52%, grade F, #10 of 27 statewide, top 35%, 394 students, 100% FRL); Ruidoso High (math 44% / reading 74%, grade C+, #27 of 110 statewide, top 28%, 532 students, 100% FRL) — zoned schools average 100% FRL vs 59% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 47 active listings in the ZIP; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k 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 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1955 — 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen appliances — outdated and worn
• Major: bathroom fixtures — dated and worn
• Major: flooring — carpeted and worn
• Major: interior walls/paint — peeling paint and worn wood paneling