713 Washington Ave · Grants, NM 87020

$81,600

4 bd · 2.0 ba · 1,371 sqft · Other · 51 Days on market

Built 1959 7,841 sqft lot $60/sqft · 35% below area Est $125k · 35% under ↓ 11% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4 bed, 2 full bath home has had lots of updates, including kitchen, garage door, driveway, and evaporative cooler. Very well maintained with covered porches front and back as well as fenced in backyard. There is a small workshop with electricity, a play house, fully landscaped front and mostly landscaped backyard. Not much to do but move in! Call your Realtor today for a showing!

Key facts

• 7,841 sq ft lot
• Garage
• Built 1959

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces north; Resale property; Slab foundation
• Construction: Stucco construction; Pitched shingle roof; Built according to public records
• Exterior features: Private yard; Covered patio; Outbuilding, storage and workshop; Wall fencing; City street frontage; Paved road

Interior

• Kitchen: Kitchen on main level (10' x 8')
• Bedrooms: Bedroom 2 on main level (10' x 10'); Bedroom 3 on main level (10' x 10'); Bedroom 4 on main level (10' x 10')
• Flooring: Concrete
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Evaporative cooling
• Interior features: Entrance foyer; Main level primary; Tub with shower; Metal windows; Concrete flooring; Kiva fireplace (1)
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $82k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $79k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#115 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• Grants-Cibola County Schools (town): math 14% / reading 22% proficiency, ranked #74 of 95 in NM (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 76 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $564 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cibola County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,152 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.29%
• DSCR: 2.08
• GRM: 5.1

CMA / ARV

• ARV (median comp): $124,675
• List price: $81,600
• Delta: -34.55%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 1.71×
• Total profit: $16,272
• Equity at exit: $12,167

10-year hold

• IRR: 26.1%
• Equity multiple: 3.29×
• Total profit: $52,242
• Equity at exit: $7,055

Cash invested: $22,848 (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 87020

• Active inventory: 76
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$428
• Tax from tax record: −$124 /mo · $1,488/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $463

Break-even live

Break-even rent $742

Max offer price $81,600

Occupancy floor 60%

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: $20,400
• Closing costs: $2,448
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $81,600 Active 51 DOM
2. 2026-06-17
   days on market $81,600 Active 50 DOM
3. 2026-06-16
   days on market $81,600 Active 49 DOM
4. 2026-06-15
   days on market $81,600 Active 48 DOM
5. 2026-06-13
   pricedays on market $81,600 Active 46 DOM
6. 2026-06-10
   days on market $102,000 Active 43 DOM
7. 2026-06-09
   days on market $102,000 Active 42 DOM
8. 2026-06-08
   days on market $102,000 Active 41 DOM
9. 2026-06-07
   days on market $102,000 Active 40 DOM
10. 2026-06-03
    days on market $102,000 Active 36 DOM
11. 2026-06-02
    days on market $102,000 Active 35 DOM
12. 2026-06-01
    days on market $102,000 Active 34 DOM
13. 2026-05-31
    days on market $102,000 Active 33 DOM
14. 2026-04-24
    listed $102,000 Active 803-char remark
15. 2026-04-06
    soldstatus
16. 2017-08-17
    soldstatus 387-char remark

    Show marketing remark (387 chars)

    This 4 bed, 2 full bath home has had lots of updates, including kitchen, garage door, driveway, and evaporative cooler. Very well maintained with covered porches front and back as well as fenced in backyard. There is a small workshop with electricity, a play house, fully landscaped front and mostly landscaped backyard. Not much to do but move in! Call your Realtor today for a showing!

17. 2017-08-17
    soldstatus

    Show marketing remark (387 chars)

    This 4 bed, 2 full bath home has had lots of updates, including kitchen, garage door, driveway, and evaporative cooler. Very well maintained with covered porches front and back as well as fenced in backyard. There is a small workshop with electricity, a play house, fully landscaped front and mostly landscaped backyard. Not much to do but move in! Call your Realtor today for a showing!

18. 2015-09-08
    listed $92,000 387-char remark

    Show marketing remark (387 chars)

    This 4 bed, 2 full bath home has had lots of updates, including kitchen, garage door, driveway, and evaporative cooler. Very well maintained with covered porches front and back as well as fenced in backyard. There is a small workshop with electricity, a play house, fully landscaped front and mostly landscaped backyard. Not much to do but move in! Call your Realtor today for a showing!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NM · Resets to sale price

• Current annual tax: $1,488 · $124/mo
• Projected year-2 tax: $1,488 · $124/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,926
• − Mortgage interest: −$4,571
• − Property taxes: −$1,488
• − Insurance: −$408
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$2,374
• Taxable income: $4,537
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $4,462/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: Grants-Cibola County Schools
• NCES district ID: 3501170
• Math proficiency: 14% —
• Reading proficiency: 22% —
• Median HH income: $35,996
• Composite: 18.23/100
• National rank: #14064
• State rank: #74 of 95 in NM

Livability — Grants

• Score: 60/100
• State rank: #115
• US rank: #19558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grants, NM
• Population (ZIP): 11,874

Population outlook (Cibola County) Hauer SSP2

• Today (2025): 26,324 people
• By 2030: 25,594 · -2.8%
• By 2040: 24,117 · -8.4%
• By 2050: 22,568 · -14.3%
• By 2075: 18,653 · -29.1%
• By 2100: 12,719 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 27% Two or more races 19% Native American 13% Black 4%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 5% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 69% English-only · Spanish 24% Vietnamese 1%

Political lean MEDSL · Cibola

• 2024 margin: Toss-up / Even · D 49.6% · R 48.0% · Other 2.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 29.6pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.7 2016: D+6.8 2012: D+23.8 2008: D+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.40%
• Current HPI: 167.6417
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-11.3% since first listed

6 events — show timeline

• 2026-06-10 Price Changed $81,600 Southwest MLS
• 2026-04-24 Listed $102,000 Southwest MLS
• 2026-04-06 Sold (Public Records) — Public Records
• 2017-08-17 Sold (Public Records) — Public Records
• 2017-08-17 Sold (MLS) — NMMLS
• 2015-09-08 Listed $92,000 NMMLS

Property tax history

+4.7%/yr

Latest (2025): $1,488 · +3.6% YoY. Source: county tax records.