1625 Spruce Ave · Las Cruces, NM 88001

$68,000

3 bd · 2.0 ba · 3,000 sqft · Land public records · 28 Days on market

Built 2019

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3BR/2BA 2019 Clayton Revolution Singlewide 16X80 Price: $64,000 (Recently reduced and ready to sell) Location: 1625 Spruce Ave. Space 14 at Onate Greens MHP This charming mobile home is located in a friendly and peaceful community at Onate Greens MHP, perfect for anyone seeking a quiet and comfortable place to call home. Key Features: 3 Bedrooms, 2 Bathrooms Spacious Living Area Full Kitchen with Modern Appliances Laundry Hookups Central Heating & amp; AC Well-maintained interior with ample storage Community Highlights: Quiet, family-friendly neighborhood Close-knit, welcoming neighbors Convenient access to local amenities grocery stores, parks, Sierra Middle School Community Pool

Key facts

• Central heating
• Community pool
• Spacious living area

Tags

• SPACIOUS LIVING AREA
• LAUNDRY HOOKUPS
• CENTRAL HEATING
• WELL MAINTAINED INTERIOR
• AMPLE STORAGE
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $68k.

Deal economics

• At list price, monthly cash flow is $810 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#120 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities D+, crime F, commute F.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Loma Heights Elementary (505 students, 100% FRL); Sierra Middle (799 students, 100% FRL); Centennial High School (math 47% / reading 67%, grade C, #33 of 110 statewide, top 29%, 1,615 students, 0% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising (+3.5%/yr); 145 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• At $1,620/mo this rent would consume 59% of the median local household income ($33k/yr) (locally 2590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,980 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. 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: 2.38% ✓
• Cap rate: 20.59%
• Cash-on-cash: 51.06%
• DSCR: 3.27
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: 49.4%
• Equity multiple: 3.17×
• Total profit: $41,339
• Equity at exit: $10,139

10-year hold

• IRR: 55.1%
• Equity multiple: 6.55×
• Total profit: $105,587
• Equity at exit: $5,879

Cash invested: $19,040 (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 88001

• Rents YoY: 3.5%
• Active inventory: 145
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,620 medium
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $810

Break-even live

Break-even rent $595

Max offer price $68,000

Occupancy floor 45%

Sensitivity live

Price	-10% $857	-5% $834	+0% $810	+5% $787	+10% $763
Rent	-10% $682	-5% $746	+0% $810	+5% $874	+10% $938
Rate	-1.0pp $844	-0.5pp $827	base $810	+0.5pp $792	+1.0pp $775

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2672 Los Misioneros Las Cruces, NM	4.0	2.5	2252	$2,500	$1.11	14d	1	1.23mi

Listing history 16 events

1. 2026-06-16
   days on market $68,000 Active 28 DOM
2. 2026-06-15
   days on market $68,000 Active 27 DOM
3. 2026-06-14
   days on market $68,000 Active 25 DOM
4. 2026-06-13
   days on market $68,000 Active 24 DOM
5. 2026-06-10
   days on market $68,000 Active 22 DOM
6. 2026-06-09
   days on market $68,000 Active 21 DOM
7. 2026-06-08
   days on market $68,000 Active 20 DOM
8. 2026-06-07
   days on market $68,000 Active 19 DOM
9. 2026-06-02
   days on market $68,000 Active 14 DOM
10. 2026-06-01
    days on market $68,000 Active 13 DOM
11. 2026-05-31
    days on market $68,000 Active 12 DOM
12. 2026-05-30
    days on market $68,000 Active 11 DOM
13. 2026-05-19
    listed $68,000 Active
14. 2024-03-14
    historical $1,100
15. 2023-11-12
    listed $1,100
16. 2016-06-30
    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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 22 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: $19,444
• − Mortgage interest: −$3,809
• − Property taxes: −$1,020
• − Insurance: −$340
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$1,978
• Taxable income: $9,185
• Est. tax owed @ 24.0%: −$2,205
• After-tax cash flow: $7,517/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: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Las Cruces

• Score: 59/100
• State rank: #120
• US rank: #19687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Cruces, NM
• County: Dona Ana County · 144,044 people
• City population: 131,421
• Metro: Las Cruces, NM
• Population (ZIP): 37,690
• Household income: $33,087
• Rent vs Own: 58.3% rent · 41.7% own
• Severe rent burden: 2590.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 24% White 21% Black 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Slovak 1% Italian 1% Romanian 1%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -239.44%
• Current HPI: 219.0404
• Rent YoY: ▲ 3.45%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+6081.8% since first listed

4 events — show timeline

• 2026-05-19 Listed $68,000 FSBO.com
• 2024-03-14 Rental Removed $1,100 APPFOLIO
• 2023-11-12 Listed for Rent $1,100 APPFOLIO
• 2016-06-30 Sold (Public Records) — Public Records

Property tax history

+0.9%/yr

Latest (2025): $20,377 · +1.3% YoY. Source: county tax records.