403 Pinon St · Mountainair, NM 87036

$80,000

4 bd · 1.5 ba · 1,384 sqft · SingleFamily · 224 Days on market

Built 1953 Poor condition 0.47 ac lot $58/sqft · 20% below area Est $100k · 20% under ↓ 41% since listing

---

Why this score? — see what drove the A- 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
• Appreciation +6.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Condition / age +1.5/5.0

Listing remarks MLS

Great investment opportunity! This older home offers up to 5 bedrooms, a spacious living room, and a country kitchen-ready for full renovation or redevelopment. Sitting on 3 full city lots, there's potential to build an ADU or explore other income-producing options(buyer to verify). Excellent upside for the right buyer-bring your tools and your imagination. Workshop/storage space. Start growing your wealth today! Cash purchase only!

Key facts

• Country kitchen
• Build an adu
• Full renovation

Tags

• INVESTMENT OPPORTUNITY
• COUNTRY KITCHEN
• FULL RENOVATION
• 3 FULL CITY LOTS
• BUILD AN ADU

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $80k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $614 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#188 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities C-, schools F, crime F.
• Mountainair Public Schools (rural): math 25% / reading 25% proficiency, ranked #25 of 29 in NM (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 52 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($553 loan paydown + $3k appreciation (3.9% local appreciation)).
• Torrance County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 224 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 1.85% ✓
• Cap rate: 15.50%
• Cash-on-cash: 32.87%
• DSCR: 2.46
• GRM: 4.5

CMA / ARV

• ARV (median comp): $100,000
• List price: $80,000
• Delta: -20.00%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 N Ross Ave	0.15mi	3/2.0 (-1)	1,255 (-9%)	2mo	$100,000	$80	69

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.1%
• Equity multiple: 3.35×
• Total profit: $52,563
• Equity at exit: $40,042

10-year hold

• IRR: 39.1%
• Equity multiple: 6.71×
• Total profit: $127,842
• Equity at exit: $65,080

Cash invested: $22,400 (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 87036

• Home prices YoY: 3.8%
• Active inventory: 52
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $614

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 53%

Sensitivity live

Price	-10% $669	-5% $641	+0% $614	+5% $586	+10% $558
Rent	-10% $497	-5% $555	+0% $614	+5% $672	+10% $730
Rate	-1.0pp $654	-0.5pp $634	base $614	+0.5pp $593	+1.0pp $572

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $80,000 Active 224 DOM
2. 2026-06-17
   days on market $80,000 Active 223 DOM
3. 2026-06-16
   days on market $80,000 Active 222 DOM
4. 2026-06-15
   days on market $80,000 Active 221 DOM
5. 2026-06-13
   pricedays on market $80,000 Active 219 DOM
6. 2026-06-10
   days on market $85,000 Active 216 DOM
7. 2026-06-09
   days on market $85,000 Active 215 DOM
8. 2026-06-08
   days on market $85,000 Active 214 DOM
9. 2026-06-07
   days on market $85,000 Active 213 DOM
10. 2026-06-05
    days on market $85,000 Active 210 DOM
11. 2026-06-03
    days on market $85,000 Active 209 DOM
12. 2026-06-02
    days on market $85,000 Active 208 DOM
13. 2026-06-01
    days on market $85,000 Active 207 DOM
14. 2026-05-31
    days on market $85,000 Active 206 DOM
15. 2026-05-15
    price $85,000 436-char remark

    Show marketing remark (436 chars)

    Great investment opportunity! This older home offers up to 5 bedrooms, a spacious living room, and a country kitchen-ready for full renovation or redevelopment. Sitting on 3 full city lots, there's potential to build an ADU or explore other income-producing options(buyer to verify). Excellent upside for the right buyer-bring your tools and your imagination. Workshop/storage space. Start growing your wealth today! Cash purchase only!

16. 2026-04-22
    price $90,000 436-char remark

    Show marketing remark (436 chars)

    Great investment opportunity! This older home offers up to 5 bedrooms, a spacious living room, and a country kitchen-ready for full renovation or redevelopment. Sitting on 3 full city lots, there's potential to build an ADU or explore other income-producing options(buyer to verify). Excellent upside for the right buyer-bring your tools and your imagination. Workshop/storage space. Start growing your wealth today! Cash purchase only!

17. 2026-01-27
    price $120,000 436-char remark

    Show marketing remark (436 chars)

    Great investment opportunity! This older home offers up to 5 bedrooms, a spacious living room, and a country kitchen-ready for full renovation or redevelopment. Sitting on 3 full city lots, there's potential to build an ADU or explore other income-producing options(buyer to verify). Excellent upside for the right buyer-bring your tools and your imagination. Workshop/storage space. Start growing your wealth today! Cash purchase only!

18. 2026-01-01
    price $135,000 436-char remark

    Show marketing remark (436 chars)

    Great investment opportunity! This older home offers up to 5 bedrooms, a spacious living room, and a country kitchen-ready for full renovation or redevelopment. Sitting on 3 full city lots, there's potential to build an ADU or explore other income-producing options(buyer to verify). Excellent upside for the right buyer-bring your tools and your imagination. Workshop/storage space. Start growing your wealth today! Cash purchase only!

19. 2025-09-15
    listed $143,000 Active 436-char remark

    Show marketing remark (436 chars)

    Great investment opportunity! This older home offers up to 5 bedrooms, a spacious living room, and a country kitchen-ready for full renovation or redevelopment. Sitting on 3 full city lots, there's potential to build an ADU or explore other income-producing options(buyer to verify). Excellent upside for the right buyer-bring your tools and your imagination. Workshop/storage space. Start growing your wealth today! Cash purchase only!

ⓘ 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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 19 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: $17,718
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$2,327
• Taxable income: $6,474
• Est. tax owed @ 24.0%: −$1,554
• After-tax cash flow: $5,809/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.

Condition & rehab AI · 12 photos

Poor 30/100 Extensive rehab

This older home requires extensive renovations to improve its condition and increase its value. The property has potential for significant upgrades that would enhance both its resale and rental appeal.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major exterior siding — weathered and in poor condition
• Major flooring — carpeted and in poor condition
• Major interior walls/paint — dated paint and wallpaper
• Major windows — old windows with peeling paint
• Major HVAC system — old and likely inefficient

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen will improve both resale and rental value
• Both update bathrooms with new fixtures and flooring — modernizing the bathrooms will improve both resale and rental value
• Both repair and paint exterior siding — improving the exterior will enhance curb appeal and increase both resale and rental value
• Both repair and replace windows — replacing old windows will improve energy efficiency and increase both resale and rental value
• Both replace HVAC system — upgrading the HVAC system will improve comfort and energy efficiency, increasing both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
exterior siding · weathered and in poor condition	Major	$15,000–50,000
flooring · carpeted and in poor condition	Major	$15,000–50,000
interior walls/paint · dated paint and wallpaper	Major	$15,000–50,000
windows · old windows with peeling paint	Major	$15,000–50,000
HVAC system · old and likely inefficient	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen will improve both resale and rental value ↑
• Both update bathrooms with new fixtures and flooring — modernizing the bathrooms will improve both resale and rental value ↑
• Both repair and paint exterior siding — improving the exterior will enhance curb appeal and increase both resale and rental value ↑
• Both repair and replace windows — replacing old windows will improve energy efficiency and increase both resale and rental value ↑
• Both replace HVAC system — upgrading the HVAC system will improve comfort and energy efficiency, increasing both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mountainair Public Schools
• NCES district ID: 3501950
• Math proficiency: 25% ▲ 15.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $37,198
• Composite: 20.84/100
• National rank: #8501
• State rank: #25 of 29 in NM

Livability — Mountainair

• Score: 56/100
• State rank: #188
• US rank: #22919

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mountainair, NM
• Population (ZIP): 2,052

Population outlook (Torrance County) Hauer SSP2

• Today (2025): 13,807 people
• By 2030: 12,946 · -6.2%
• By 2040: 11,214 · -18.8%
• By 2050: 9,802 · -29.0%
• By 2075: 7,634 · -44.7%
• By 2100: 5,637 · -59.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 47% Hispanic / Latino 41% Two or more races 13% Black 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 82% English-only · Spanish 18%

Political lean MEDSL · Torrance

• 2024 margin: Solid R (+38.1) · D 29.9% · R 68.0% · Other 2.2%
• 2008→2024 swing: -28.8pp toward R · 2008: -9.3pp · 2024: -38.1pp
• All cycles: 2024: R+38.1 2020: R+33.4 2016: R+30.8 2012: R+17.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.89%
• Current HPI: 105.5739
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-40.6% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $85,000 Southwest MLS
• 2026-04-22 Price Changed $90,000 Southwest MLS
• 2026-01-27 Price Changed $120,000 Southwest MLS
• 2026-01-01 Price Changed $135,000 Southwest MLS
• 2025-09-15 Listed $143,000 Southwest MLS