601 Valencia Ave · Milan, NM 87021

$45,000

3 bd · 1.0 ba · 1,170 sqft · Other · 3 Days on market

Built 1964 0.42 ac lot

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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
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Affordable home that needs so work. Sits on a large corner lot with a 3 car detached garage. It needs interior and exterior work. Generate into an income property or fix up to your liking. Call for more information today!

Key facts

• Large corner lot
• Detached garage
• 0.42 acre lot

Tags

• LARGE CORNER LOT
• DETACHED GARAGE

Property features AI

Finance

• Financial info: Annual tax amount reported as $1,000

Exterior

• Parking: Detached garage; 3 covered parking spaces (3 total parking spaces)
• Home design: Single-family residential property
• Exterior features: Lot of approximately 0.42 acres (about 18,295 sq ft)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating
• Interior features: No central heating (no heating system specified)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).

Location & tenants

• Location reads 58/100 on livability (#144 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-; Watch: health & safety C-, housing D, schools F.
• 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: 17 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.56% ✓
• Cap rate: 23.04%
• Cash-on-cash: 59.81%
• DSCR: 3.66
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 64.7%
• Equity multiple: 4.60×
• Total profit: $45,417
• Equity at exit: $20,234

10-year hold

• IRR: 64.2%
• Equity multiple: 9.38×
• Total profit: $105,630
• Equity at exit: $31,183

Cash invested: $12,600 (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 87021

• Active inventory: 17
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$26 /mo · $309/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $628

Break-even live

Break-even rent $355

Max offer price $45,000

Occupancy floor 40%

Sensitivity live

Price	-10% $653	-5% $641	+0% $628	+5% $615	+10% $603
Rent	-10% $537	-5% $583	+0% $628	+5% $673	+10% $719
Rate	-1.0pp $651	-0.5pp $639	base $628	+0.5pp $616	+1.0pp $604

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 Willow Dr Milan, NM	2.0	2.0	1100	$1,150	$1.05	44d	1	1.00mi

Listing history 4 events

1. 2026-06-18
   days on market $45,000 Active 3 DOM
2. 2026-06-17
   days on market $45,000 Active 2 DOM
3. 2026-06-16
   remarks 221-char remark
4. 2026-06-16
   listed $45,000 Active 1 DOM

ⓘ 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: $309 · $26/mo
• Projected year-2 tax: $360 · $30/mo
• Expected delta: +$51/yr (+$4/mo · 16.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 18% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $13,800
• − Mortgage interest: −$2,521
• − Property taxes: −$309
• − Insurance: −$225
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$1,309
• Taxable income: $7,228
• Est. tax owed @ 24.0%: −$1,735
• After-tax cash flow: $5,801/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 — Milan

• Score: 58/100
• State rank: #144
• US rank: #21042

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milan, NM
• Population (ZIP): 3,164

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 0.70)
• Race & ethnicity: Hispanic / Latino 51% Two or more races 33% Native American 25% White 21% Asian 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 11% Scottish 2% Lithuanian 1%
• Foreign-born: 2% · China
• Languages at home: 68% English-only · Spanish 15% Chinese 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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-14 Listed $45,000 NMMLS

Property tax history

-1.4%/yr

Latest (2025): $309 · -34.7% YoY. Source: county tax records.