2406 Westminster Ave · Alamogordo, NM 88310

$139,900

3 bd · 1.0 ba · 1,294 sqft · SingleFamily public records · 6 Days on market

Built 1965 6,665 sqft lot $108/sqft · at area comps Est $134k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +5.4/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for an affordable home with the opportunity to add your own style and updates? This 3-bedroom, 1-bath home offers a practical floor plan and is a great option for first-time buyers, investors, or anyone seeking a property with potential. The home features evaporative cooling and gas wall heaters for year-round comfort, while the centrally located setting provides convenient access to schools, shopping, dining, and other everyday amenities. Outside, you'll find a large fenced backyard with plenty of space for pets, gardening, outdoor entertaining, or future improvements. An added benefit is that this property is not located in a flood zone, providing additional peace of mind. If you'

Key facts

• Gas wall heaters
• Evaporative cooling
• 6,665 sq ft lot

Tags

• EVAPORATIVE COOLING
• GAS WALL HEATERS
• LARGE FENCED BACKYARD
• CONVENIENT ACCESS TO SCHOOLS
• NOT LOCATED IN A FLOOD ZONE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $625 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

Location & tenants

• Location reads 77/100 on livability (#5 in NM, #3,233 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment D, schools F.
• Alamogordo Public Schools (town): math 26% / reading 39% proficiency, ranked #26 of 95 in NM (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 444 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6 units permitted in Otero County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Otero County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1965 — 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. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.15%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (median comp): $133,594
• List price: $139,900
• Delta: 12.28%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.65% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.37×
• Total profit: $14,614
• Equity at exit: $20,860

10-year hold

• IRR: 17.7%
• Equity multiple: 2.38×
• Total profit: $53,867
• Equity at exit: $12,096

Cash invested: $39,172 (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 88310

• Rents YoY: 1.6%
• Active inventory: 444
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$734
• Tax from tax record: −$49 /mo · $589/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $625

Break-even live

Break-even rent $1,065

Max offer price $139,900

Occupancy floor 61%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 Mesa Ln Alamogordo, NM	3.0	2.0	1408	$3,000	$2.13	24d	1	0.34mi
2360 Mesa Ln Alamogordo, NM	3.0	2.0	1173	$1,600	$1.36	24d	1	0.48mi
1514 Utah Ave Alamogordo, NM	2.0	1.0	1119	$1,450	$1.30	14d	1	0.89mi
2116 N Scenic Dr Apt A1 Alamogordo, NM	2.0	1.0	957	$950	$0.99	24d	1	0.93mi
1502 Campbell Pl Alamogordo, NM	3.0	2.0	1816	$1,450	$0.80	24d	1	1.04mi
2606 Pontiac Dr Alamogordo, NM	3.0	2.0	1785	$1,650	$0.92	24d	1	1.04mi
1301 Jefferson Ave Unit LAST ONE AVAILABLE!! Alamogordo, NM	2.0	2.0	892	$1,425	$1.60	3d	1	1.09mi
2300 Aspen Dr Alamogordo, NM	3.0	2.0	1368	$1,400	$1.02	3d	1	1.15mi
1301 Fillmore Ave Alamogordo, NM	2.0	1.0	967	$1,095	$1.13	44d	2	1.22mi

Listing history 7 events

1. 2026-06-13
   statusdays on market $139,900 Pending 6 DOM
2. 2026-06-13
   days on market $139,900 Active 5 DOM
3. 2026-06-10
   days on market $139,900 Active 3 DOM
4. 2026-06-09
   days on market $139,900 Active 2 DOM
5. 2026-06-08
   remarks 699-char remark
6. 2026-06-08
   pricestatusdays on marketlisting id $139,900 Active 1 DOM
7. 2026-03-20
   price $145,000

ⓘ 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: $589 · $49/mo
• Projected year-2 tax: $1,119 · $93/mo
• Expected delta: +$531/yr (+$44/mo · 90.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 8 d/yr ≥98°F today · 26 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: $22,272
• − Mortgage interest: −$7,837
• − Property taxes: −$589
• − Insurance: −$700
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$4,070
• Taxable income: $5,514
• Est. tax owed @ 24.0%: −$1,323
• After-tax cash flow: $6,179/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: Alamogordo Public Schools
• NCES district ID: 3500030
• Math proficiency: 26% —
• Reading proficiency: 39% —
• Median HH income: $42,194
• Composite: 30.24/100
• National rank: #11572
• State rank: #26 of 95 in NM

Livability — Alamogordo

• Score: 77/100
• State rank: #5
• US rank: #3233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamogordo, NM
• County: Otero County · 36,983 people
• City population: 36,983
• Metro: Alamogordo, NM
• Population (ZIP): 36,983
• Household income: $57,214
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1231.0

Population outlook (Otero County) Hauer SSP2

• Today (2025): 62,967 people
• By 2030: 62,164 · -1.3%
• By 2040: 60,253 · -4.3%
• By 2050: 58,575 · -7.0%
• By 2075: 55,411 · -12.0%
• By 2100: 48,551 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 31% Two or more races 18% Black 5% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 12% Tagalog/Filipino 1%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+27.0) · D 35.4% · R 62.4% · Other 2.2%
• 2008→2024 swing: -7.7pp toward R · 2008: -19.3pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+25.6 2016: R+29.1 2012: R+28.0 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.88%
• Current HPI: 181.737
• Rent YoY: ▲ 1.65%
• Metro: Alamogordo, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-20 Price Changed $145,000 RLCAR

Property tax history

+1.6%/yr

Latest (2025): $589 · +3.5% YoY. Source: county tax records.