102 Gold St Unit Truth or Consequences

Truth or Consequences, NM 87901

$80,000C

2 bd · 1.0 ba · 896 sqft · Built 1984 · Other · Active · 176 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $847/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $201/mo
• Annual: $2,417/yr
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• 1% rule: 1.06%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($847 rent vs $80k).
• It's been on market 176 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#60 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools F, crime F, commute F.
• T Or C Municipal Schools (town): math 25% / reading 25% proficiency, ranked #29 of 29 in NM (top 100%) — 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: 91 active listings in the ZIP.
• Sierra County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.