108 Faulkner Rd · Socorro, NM 87801

$150,000

3 bd · 1.0 ba · 1,007 sqft · Other · 100 Days on market

Built 1953 0.27 ac lot $149/sqft · 20% below area Est $186k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Key facts

• 0.27 acre lot
• Garage
• Built 1953

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $-20 ($-241/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (25.1% below list).
• Recommended offer: $112k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.9% in Socorro — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#59 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime F, commute F.
• Socorro Consolidated Schools (town): math 12% / reading 21% proficiency, ranked #76 of 95 in NM (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: R. Sarracino Middle (254 students, 97% FRL); Socorro High (math 34% / reading 64%, grade D, #51 of 110 statewide, top 50%, 450 students, 98% FRL) — zoned schools average 98% FRL vs 60% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 16% district-wide (+33 pts) — the actual schools serving this property are materially stronger than the Socorro Consolidated Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 100 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Socorro County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,321 (25.1% 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 100 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.75% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (median comp): $186,500
• List price: $150,000
• Delta: -19.57%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-25,648
• Equity at exit: $22,365

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-24,234
• Equity at exit: $12,969

Cash invested: $42,000 (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 87801

• Active inventory: 100
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-20

Break-even live

Break-even rent $1,149

Max offer price $146,454

Occupancy floor 97%

Sensitivity live

Price	-10% $65	-5% $22	+0% $-20	+5% $-63	+10% $-105
Rent	-10% $-109	-5% $-64	+0% $-20	+5% $24	+10% $69
Rate	-1.0pp $55	-0.5pp $18	base $-20	+0.5pp $-59	+1.0pp $-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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $150,000 Active 100 DOM
2. 2026-06-21
   days on market $150,000 Active 99 DOM
3. 2026-06-18
   days on market $150,000 Active 97 DOM
4. 2026-06-17
   days on market $150,000 Active 96 DOM
5. 2026-06-16
   days on market $150,000 Active 95 DOM
6. 2026-06-15
   days on market $150,000 Active 94 DOM
7. 2026-06-13
   days on market $150,000 Active 92 DOM
8. 2026-06-12
   days on market $150,000 Active 91 DOM
9. 2026-06-09
   days on market $150,000 Active 88 DOM
10. 2026-06-08
    days on market $150,000 Active 87 DOM
11. 2026-06-07
    days on market $150,000 Active 86 DOM
12. 2026-06-07
    days on market $150,000 Active 85 DOM
13. 2026-06-04
    days on market $150,000 Active 82 DOM
14. 2026-06-02
    days on market $150,000 Active 81 DOM
15. 2026-06-01
    days on market $150,000 Active 80 DOM
16. 2026-05-31
    days on market $150,000 Active 79 DOM
17. 2026-03-10
    listed $150,000 Active

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$500/yr (+$42/mo · 71.5%)

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

Taxation est. · year 1

• Rental income: $13,479
• − Mortgage interest: −$8,402
• − Property taxes: −$700
• − Insurance: −$750
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$4,364
• Taxable loss: −$2,894
• Est. tax savings @ 24.0%: +$694
• After-tax cash flow: $454/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: Socorro Consolidated Schools
• NCES district ID: 3502460
• Math proficiency: 12% —
• Reading proficiency: 21% —
• Median HH income: $35,586
• Composite: 17.01/100
• National rank: #14193
• State rank: #76 of 95 in NM

Livability — Socorro

• Score: 65/100
• State rank: #59
• US rank: #13325

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Socorro, NM
• Population (ZIP): 9,309

Population outlook (Socorro County) Hauer SSP2

• Today (2025): 16,091 people
• By 2030: 15,334 · -4.7%
• By 2040: 13,876 · -13.8%
• By 2050: 12,542 · -22.1%
• By 2075: 10,157 · -36.9%
• By 2100: 8,116 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 51% White 36% Two or more races 29% Native American 5% Asian 3%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Portuguese 1% Italian 1% Slovak 1%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 67% English-only · Spanish 26% Other Indo-European 2%

Political lean MEDSL · Socorro

• 2024 margin: Toss-up / Even · D 46.8% · R 50.5% · Other 2.7%
• 2008→2024 swing: -24.8pp toward R · 2008: 21.1pp · 2024: -3.7pp
• All cycles: 2024: R+3.7 2020: D+6.5 2016: D+10.1 2012: D+18.1 2008: D+21.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.16%
• Current HPI: 127.044
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-10 Listed $150,000 Southwest MLS

Property tax history

+3.9%/yr

Latest (2025): $700 · +17.3% YoY. Source: county tax records.