131 Kreuzer Dr · Ruidoso, NM 88312

$187,000

3 bd · 2.0 ba · 1,000 sqft · Other · 118 Days on market

Built 2011 4.40 ac lot

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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 +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL level acreage located near Lincoln National Forest, this 2011 manufactured double wide is approx. 1100 sq. ft. with attached carport/storage area. Located on approx. 4.4 acres between Alto & Rainmakers subdivision. If you are looking for serenity, this may be it. Will require cash to purchase. Water source is rainwater collection system w/ filters. Manufactured home is being taxed separately thru MVD. Being sold 'As is''. This property would be great for those wanting their horses with them.

Key facts

• Attached carport
• Manufactured home
• Level acreage

Tags

• LEVEL ACREAGE
• ATTACHED CARPORT
• RAINWATER COLLECTION SYSTEM
• MANUFACTURED HOME

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $187k.

Deal economics

• At list price, monthly cash flow is $-47 ($-563/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (7.2% below list).
• Recommended offer: $170k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#40 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities 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.
• Market conditions: 430 active listings in the ZIP; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask is 21% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,170 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.79%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.0%
• Equity multiple: 0.37×
• Total profit: $-33,188
• Equity at exit: $27,882

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-32,330
• Equity at exit: $16,168

Cash invested: $52,360 (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 88312

• Home prices YoY: -25.0%
• Active inventory: 430
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,735 medium
• Mortgage (P&I): −$981
• Tax est. 1.5%: −$234 /mo · $2,805/yr
• Insurance: −$78
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-47

Break-even live

Break-even rent $1,794

Max offer price $180,208

Occupancy floor 98%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-08
   days on market $187,000 Active 118 DOM
2. 2026-06-07
   days on market $187,000 Active 117 DOM
3. 2026-06-04
   days on market $187,000 Active 113 DOM
4. 2026-06-02
   days on market $187,000 Active 112 DOM
5. 2026-06-01
   days on market $187,000 Active 111 DOM
6. 2026-05-31
   days on market $187,000 Active 110 DOM
7. 2026-05-31
   days on market $187,000 Active 109 DOM
8. 2026-05-18
   price $187,000 512-char remark

   Show marketing remark (512 chars)

   BEAUTIFUL level acreage located near Lincoln National Forest, this 2011 manufactured double wide is approx. 1100 sq. ft. with attached carport/storage area. Located on approx. 4.4 acres between Alto & Rainmakers subdivision. If you are looking for serenity, this may be it. Will require cash to purchase. Water source is rainwater collection system w/ filters. Manufactured home is being taxed separately thru MVD. Being sold 'As is''. This property would be great for those wanting their horses with them.

9. 2026-02-20
   price $210,000 512-char remark

   Show marketing remark (512 chars)

   BEAUTIFUL level acreage located near Lincoln National Forest, this 2011 manufactured double wide is approx. 1100 sq. ft. with attached carport/storage area. Located on approx. 4.4 acres between Alto & Rainmakers subdivision. If you are looking for serenity, this may be it. Will require cash to purchase. Water source is rainwater collection system w/ filters. Manufactured home is being taxed separately thru MVD. Being sold 'As is''. This property would be great for those wanting their horses with them.

10. 2026-02-10
    listed $155,000 Active 512-char remark

    Show marketing remark (512 chars)

    BEAUTIFUL level acreage located near Lincoln National Forest, this 2011 manufactured double wide is approx. 1100 sq. ft. with attached carport/storage area. Located on approx. 4.4 acres between Alto & Rainmakers subdivision. If you are looking for serenity, this may be it. Will require cash to purchase. Water source is rainwater collection system w/ filters. Manufactured home is being taxed separately thru MVD. Being sold 'As is''. This property would be great for those wanting their horses with them.

11. 2021-10-22
    soldstatus 414-char remark

    Show marketing remark (414 chars)

    Horses Allowed!! Secluded/Near Lincoln National Forest 3Bedroom/2Bathroom Manufactured Double Wide Built in 2011 on Usable Level 4.4 Acres. Attached carport/Storage Area. Current water source for home is a Rainwater Collection System w/ filter approx combined size of tanks is around 7,800 Gallons. Front Partial Covered Deck/Rear Storage shed. Approx Sqft footage is about 1,100.Call Realtor For More Information.

12. 2021-06-30
    listed $180,000 414-char remark

    Show marketing remark (414 chars)

    Horses Allowed!! Secluded/Near Lincoln National Forest 3Bedroom/2Bathroom Manufactured Double Wide Built in 2011 on Usable Level 4.4 Acres. Attached carport/Storage Area. Current water source for home is a Rainwater Collection System w/ filter approx combined size of tanks is around 7,800 Gallons. Front Partial Covered Deck/Rear Storage shed. Approx Sqft footage is about 1,100.Call Realtor For More Information.

13. 2010-02-16
    soldstatus

ⓘ 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 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥87°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,819
• − Mortgage interest: −$10,475
• − Property taxes: −$2,805
• − Insurance: −$2,438
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$5,440
• Taxable loss: −$3,669
• Est. tax savings @ 24.0%: +$881
• After-tax cash flow: $317/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: Ruidoso Municipal Schools
• NCES district ID: 3502310
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $44,094
• Composite: 31.68/100
• National rank: #5925
• State rank: #14 of 29 in NM

Livability — Ruidoso

• Score: 66/100
• State rank: #40
• US rank: #11996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,835
• Population (ZIP): 3,178

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 24% Two or more races 14% Native American 4%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 6% Slovak 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 82% English-only · Spanish 12% Other Asian/Pacific 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.48%
• Current HPI: 169.5165
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+3.9% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $187,000 RLCAR
• 2026-02-20 Price Changed $210,000 RLCAR
• 2026-02-10 Listed $155,000 RLCAR
• 2021-10-22 Sold (MLS) — RLCAR
• 2021-06-30 Listed $180,000 RLCAR
• 2010-02-16 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $101 · +3.8% YoY. Source: county tax records.