106 Los Cordovas Rd · Ranchos de Taos, NM 87557

$125,000

2 bd · 1.0 ba · 1,372 sqft · SingleFamily · 211 Days on market

Fair condition 0.42 ac lot ↓ 25% since listing

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Why this score? — see what drove the C- 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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the picturesque neighborhood of Los Cordovas, this charming home awaits restoration and attention. Situated on a spacious 0.424-acre lot with water rights and a fairly new well, this 1,372 square foot, two-bedroom, one-bathroom dwelling offers plenty of living space. Constructed approximately in 1954, the home has been cherished by the same family for over six decades. Encircled by majestic mature trees, the property is surrounded by the remnants of historic Los Cordovas farms and ranches. The Los Cordovas Valley, shaped by the Rio Pueblo, holds significant importance in Taos’s rich indigenous history. This lush area that runs parallel to the Rio Pueblo, boasts wildlife, petroglyphs, and wildlife trails, providing a captivating glimpse into the region’s past. Residents of this esteemed community can experience the allure of the surrounding beauty and historical significance from this unique location. For those interested in exploring this property and envisioning its potential, we invite you to schedule an in-person tour. Home is a fixer upper so bring your ideas and talents and turn this canvas into what you envision it to be.

Key facts

• Wildlife trails
• New well
• Spacious lot

Tags

• WATER RIGHTS
• NEW WELL
• SPACIOUS LOT
• MATURE TREES
• WILDLIFE TRAILS
• UNIQUE LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#35 in NM) — a middle-class / working-renter tenant base. Strengths: crime A, commute A; Watch: health & safety C-, cost of living D+, schools F.
• Taos Municipal Schools (town): math 19% / reading 33% proficiency, ranked #43 of 95 in NM (top 45%) — 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: 140 active listings in the ZIP; 127 units permitted in Taos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Taos County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 8.0

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-9,595
• Equity at exit: $18,638

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $5,427
• Equity at exit: $10,808

Cash invested: $35,000 (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 87557

• Home prices YoY: -18.9%
• Active inventory: 140
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,305 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $167

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 82%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 211 DOM
2. 2026-06-17
   days on market $125,000 Active 210 DOM
3. 2026-06-16
   days on market $125,000 Active 209 DOM
4. 2026-06-15
   days on market $125,000 Active 208 DOM
5. 2026-06-13
   days on market $125,000 Active 206 DOM
6. 2026-06-12
   days on market $125,000 Active 205 DOM
7. 2026-06-09
   days on market $125,000 Active 202 DOM
8. 2026-06-08
   days on market $125,000 Active 201 DOM
9. 2026-06-07
   days on market $125,000 Active 200 DOM
10. 2026-06-07
    days on market $125,000 Active 199 DOM
11. 2026-06-04
    days on market $125,000 Active 196 DOM
12. 2026-06-03
    price $125,000 Active 195 DOM
13. 2026-06-02
    days on market $150,000 Active 195 DOM
14. 2026-06-01
    days on market $150,000 Active 194 DOM
15. 2026-05-31
    days on market $150,000 Active 193 DOM
16. 2026-04-01
    price $150,000 1168-char remark

    Show marketing remark (1168 chars)

    Nestled in the picturesque neighborhood of Los Cordovas, this charming home awaits restoration and attention. Situated on a spacious 0.424-acre lot with water rights and a fairly new well, this 1,372 square foot, two-bedroom, one-bathroom dwelling offers plenty of living space. Constructed approximately in 1954, the home has been cherished by the same family for over six decades. Encircled by majestic mature trees, the property is surrounded by the remnants of historic Los Cordovas farms and ranches. The Los Cordovas Valley, shaped by the Rio Pueblo, holds significant importance in Taos’s rich indigenous history. This lush area that runs parallel to the Rio Pueblo, boasts wildlife, petroglyphs, and wildlife trails, providing a captivating glimpse into the region’s past. Residents of this esteemed community can experience the allure of the surrounding beauty and historical significance from this unique location. For those interested in exploring this property and envisioning its potential, we invite you to schedule an in-person tour. Home is a fixer upper so bring your ideas and talents and turn this canvas into what you envision it to be.

17. 2026-03-17
    price $175,000 1168-char remark

    Show marketing remark (1168 chars)

    Nestled in the picturesque neighborhood of Los Cordovas, this charming home awaits restoration and attention. Situated on a spacious 0.424-acre lot with water rights and a fairly new well, this 1,372 square foot, two-bedroom, one-bathroom dwelling offers plenty of living space. Constructed approximately in 1954, the home has been cherished by the same family for over six decades. Encircled by majestic mature trees, the property is surrounded by the remnants of historic Los Cordovas farms and ranches. The Los Cordovas Valley, shaped by the Rio Pueblo, holds significant importance in Taos’s rich indigenous history. This lush area that runs parallel to the Rio Pueblo, boasts wildlife, petroglyphs, and wildlife trails, providing a captivating glimpse into the region’s past. Residents of this esteemed community can experience the allure of the surrounding beauty and historical significance from this unique location. For those interested in exploring this property and envisioning its potential, we invite you to schedule an in-person tour. Home is a fixer upper so bring your ideas and talents and turn this canvas into what you envision it to be.

18. 2025-11-19
    listed $199,000 Active 1168-char remark

    Show marketing remark (1168 chars)

    Nestled in the picturesque neighborhood of Los Cordovas, this charming home awaits restoration and attention. Situated on a spacious 0.424-acre lot with water rights and a fairly new well, this 1,372 square foot, two-bedroom, one-bathroom dwelling offers plenty of living space. Constructed approximately in 1954, the home has been cherished by the same family for over six decades. Encircled by majestic mature trees, the property is surrounded by the remnants of historic Los Cordovas farms and ranches. The Los Cordovas Valley, shaped by the Rio Pueblo, holds significant importance in Taos’s rich indigenous history. This lush area that runs parallel to the Rio Pueblo, boasts wildlife, petroglyphs, and wildlife trails, providing a captivating glimpse into the region’s past. Residents of this esteemed community can experience the allure of the surrounding beauty and historical significance from this unique location. For those interested in exploring this property and envisioning its potential, we invite you to schedule an in-person tour. Home is a fixer upper so bring your ideas and talents and turn this canvas into what you envision it to be.

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥89°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: $15,660
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$3,636
• Taxable income: $16
• Est. tax owed @ 24.0%: −$4
• After-tax cash flow: $2,001/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

Fair 45/100 Moderate rehab

This property requires extensive repairs and maintenance to bring it up to a fair condition. Significant work is needed on the exterior, roof, flooring, HVAC, and landscaping to improve its value and appeal.

Repairs flagged

• Major exterior walls — Significant weathering and structural issues
• Major roof — No visible roof damage, but the condition of the exterior suggests potential roof issues
• Major flooring — Worn-out flooring, potential subfloor damage
• Major HVAC/mechanicals — No visible HVAC, potential mechanical issues
• Major landscaping — Overgrown vegetation, broken fence

Value-add opportunities

• Both exterior renovation — Improves curb appeal and structural integrity
• Both HVAC installation — Enhances comfort and energy efficiency
• Both landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior walls · Significant weathering and structural issues	Major	$15,000–50,000
roof · No visible roof damage, but the condition of the exterior suggests potential roof issues	Major	$15,000–50,000
flooring · Worn-out flooring, potential subfloor damage	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC, potential mechanical issues	Major	$15,000–50,000
landscaping · Overgrown vegetation, broken fence	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior renovation — Improves curb appeal and structural integrity ↑
• Both HVAC installation — Enhances comfort and energy efficiency ↑
• Both landscaping — Enhances curb appeal and property 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: Taos Municipal Schools
• NCES district ID: 3502520
• Math proficiency: 19% —
• Reading proficiency: 33% —
• Median HH income: $37,074
• Composite: 24.62/100
• National rank: #13051
• State rank: #43 of 95 in NM

Livability — Ranchos de Taos

• Score: 66/100
• State rank: #35
• US rank: #11723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,512

Population outlook (Taos County) Hauer SSP2

• Today (2025): 32,771 people
• By 2030: 32,128 · -2.0%
• By 2040: 29,938 · -8.6%
• By 2050: 27,593 · -15.8%
• By 2075: 23,279 · -29.0%
• By 2100: 18,948 · -42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Two or more races 29% White 27% Native American 4%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Romanian 2% Slovak 2% Danish 1%
• Foreign-born: 8% · Canada
• Languages at home: 54% English-only · Spanish 45%

Political lean MEDSL · Taos

• 2024 margin: Solid D (+47.5) · D 72.4% · R 24.9% · Other 2.8%
• 2008→2024 swing: -17.4pp toward R · 2008: 64.8pp · 2024: 47.5pp
• All cycles: 2024: D+47.5 2020: D+54.8 2016: D+52.0 2012: D+60.2 2008: D+64.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.02%
• Current HPI: 171.7898
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-24.6% since first listed

3 events — show timeline

• 2026-04-01 Price Changed $150,000 TCAR
• 2026-03-17 Price Changed $175,000 TCAR
• 2025-11-19 Listed $199,000 TCAR