1415 S 6th St · Tucumcari, NM 88401

$110,000

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 167 Days on market

Built 1955 7,100 sqft lot $106/sqft · 214% above area ↓ 4% since listing

---

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 +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +3.6/10.0
• Appreciation +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

3 bedroom 1 1/2 completely remodeled - - newer flooring, bathrooms, kitchen, vinyl windows & roof. Fenced backyard with a covered patio. This home is ready to move in!

Key facts

• Vinyl windows
• Newer flooring
• Remodeled kitchen

Tags

• FENCED BACKYARD
• COVERED PATIO
• NEWER FLOORING
• REMODELED BATHROOMS
• REMODELED KITCHEN
• VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (14.0% below list).
• Recommended offer: $95k (14.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#166 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Tucumcari Public Schools (town): math 17% / reading 35% proficiency, ranked #47 of 95 in NM (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tucumcari Elementary (450 students, 100% FRL); Tucumcari Middle (214 students, 100% FRL); Tucumcari High (math 15% / reading 44%, grade F, #75 of 110 statewide, top 70%, 243 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Market conditions: 26 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Quay 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 167 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,638 (14.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.57%
• DSCR: 1.16
• GRM: 9.7

CMA / ARV

• ARV (median comp): $35,000
• List price: $110,000
• Delta: 214.29%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-12,037
• Equity at exit: $16,401

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-3,166
• Equity at exit: $9,511

Cash invested: $30,800 (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 88401

• Home prices YoY: -2.7%
• Active inventory: 26
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $946 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$33 /mo · $400/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $92

Break-even live

Break-even rent $830

Max offer price $110,000

Occupancy floor 85%

Sensitivity live

Price	-10% $154	-5% $123	+0% $92	+5% $61	+10% $29
Rent	-10% $17	-5% $54	+0% $92	+5% $129	+10% $166
Rate	-1.0pp $147	-0.5pp $120	base $92	+0.5pp $63	+1.0pp $34

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $110,000 Active 167 DOM
2. 2026-06-21
   days on market $110,000 Active 166 DOM
3. 2026-06-18
   days on market $110,000 Active 164 DOM
4. 2026-06-17
   days on market $110,000 Active 163 DOM
5. 2026-06-16
   days on market $110,000 Active 162 DOM
6. 2026-06-15
   days on market $110,000 Active 161 DOM
7. 2026-06-13
   days on market $110,000 Active 159 DOM
8. 2026-06-12
   days on market $110,000 Active 158 DOM
9. 2026-06-09
   days on market $110,000 Active 155 DOM
10. 2026-06-08
    days on market $110,000 Active 154 DOM
11. 2026-06-07
    days on market $110,000 Active 153 DOM
12. 2026-06-05
    days on market $110,000 Active 151 DOM
13. 2026-06-04
    days on market $110,000 Active 149 DOM
14. 2026-06-02
    days on market $110,000 Active 148 DOM
15. 2026-06-01
    days on market $110,000 Active 147 DOM
16. 2026-05-31
    days on market $110,000 Active 146 DOM
17. 2026-05-08
    price $110,000 173-char remark

    Show marketing remark (173 chars)

    3 bedroom 1 1/2 completely remodeled - - newer flooring, bathrooms, kitchen, vinyl windows & roof. Fenced backyard with a covered patio. This home is ready to move in!

18. 2026-01-04
    listed $115,000 Active 173-char remark

    Show marketing remark (173 chars)

    3 bedroom 1 1/2 completely remodeled - - newer flooring, bathrooms, kitchen, vinyl windows & roof. Fenced backyard with a covered patio. This home is ready to move in!

ⓘ 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: $400 · $33/mo
• Projected year-2 tax: $880 · $73/mo
• Expected delta: +$480/yr (+$40/mo · 120.2%)

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

Taxation est. · year 1

• Rental income: $11,357
• − Mortgage interest: −$6,162
• − Property taxes: −$400
• − Insurance: −$550
• − Repairs & maintenance: −$909
• − Management: −$909
• − Depreciation: −$3,200
• Taxable loss: −$772
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $1,285/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: Tucumcari Public Schools
• NCES district ID: 3502640
• Math proficiency: 17% —
• Reading proficiency: 35% —
• Median HH income: $27,627
• Composite: 23.71/100
• National rank: #13236
• State rank: #47 of 95 in NM

Livability — Tucumcari

• Score: 57/100
• State rank: #166
• US rank: #22140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tucumcari, NM
• Population (ZIP): 6,689

Population outlook (Quay County) Hauer SSP2

• Today (2025): 7,255 people
• By 2030: 6,656 · -8.3%
• By 2040: 5,560 · -23.4%
• By 2050: 4,702 · -35.2%
• By 2075: 3,404 · -53.1%
• By 2100: 2,593 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 53% White 40% Two or more races 23% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 30% Puerto Rican 1%
• Common ancestry: Iranian 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Quay

• 2024 margin: Solid R (+40.9) · D 28.5% · R 69.4% · Other 2.1%
• 2008→2024 swing: -20.4pp toward R · 2008: -20.5pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.8 2016: R+33.6 2012: R+22.0 2008: R+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.16%
• Current HPI: 115.4103
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.3% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $110,000 NMMLS
• 2026-01-04 Listed $115,000 NMMLS

Property tax history

+3.0%/yr

Latest (2025): $400 · +2.9% YoY. Source: county tax records.