2303 35th St Unit B · Los Alamos, NM 87544

$350,000

3 bd · 1.0 ba · 1,412 sqft · Townhouse public records · 4 Days on market

Built 1949 6,966 sqft lot

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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 +18.1/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• DSCR +5.7/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the desirable N Community, this charming two-story home sits proudly on an elevated lot, offering beautiful curb appeal. A large front yard with grass and trees creates a serene setting, while tiered planter boxes filled with flower lead you up to the front entry. Below, you’ll find two designated parking spaces. Step inside to the foyer with wood floors that flow seamlessly throughout the home, adding warmth and character. Straight ahead is the combined living and dining space, anchored by a large picture window that frames views of the backyard and fills the room with natural light. A door from this area provides easy access to the backyard. Tucked into one corner is a co

Key facts

• Wood floors
• Large front yard
• Large picture window

Tags

• ELEVATED LOT
• LARGE FRONT YARD
• DESIGNATED PARKING SPACES
• WOOD FLOORS
• LARGE PICTURE WINDOW
• EASY ACCESS TO BACKYARD

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Electricity available; High-speed internet available
• Home design: 2-story; Property is attached
• Construction: Frame construction with wood siding; Built-up roof
• Exterior features: Drip irrigation/bubblers

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Concrete; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Insulated windows; Interior steps
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $350k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $316k (9.7% below list).
• Recommended offer: $316k (9.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#2 in NM, #1,377 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Los Alamos Public Schools (town): math 61% / reading 78% proficiency, ranked #2 of 29 in NM (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 46 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 14 units permitted in Los Alamos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Los Alamos County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y 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

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $316,104 (9.7% below list)

Questions for the listing agent

1. Built in 1949 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.90% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 9.2

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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-37,249
• Equity at exit: $52,186

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-7,629
• Equity at exit: $30,262

Cash invested: $98,000 (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 87544

• Active inventory: 46
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,161 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$209 /mo · $2,506/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $307

Break-even live

Break-even rent $2,772

Max offer price $350,000

Occupancy floor 85%

Sensitivity live

Price	-10% $505	-5% $406	+0% $307	+5% $208	+10% $109
Rent	-10% $57	-5% $182	+0% $307	+5% $432	+10% $557
Rate	-1.0pp $483	-0.5pp $396	base $307	+0.5pp $216	+1.0pp $124

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
141 36th St Los Alamos, NM	2.0–3.0	2.0	1241	$4,625	$3.73	3d	89	1.10mi
1926 24th St Los Alamos, NM	2.0	1.0	900	$1,920	$2.13	3d	1	1.13mi
505 Oppenheimer Dr #212 Los Alamos, NM	2.0	2.0	972	$2,450	$2.52	45d	1	1.31mi
1300 Iris St #203 Los Alamos, NM	2.0	2.0	1000	$2,400	$2.40	20d	1	1.49mi

Listing history 9 events

1. 2026-05-10
   status Pending
2. 2026-05-07
   status Active
3. 2026-04-26
   status Pending
4. 2026-04-24
   listed $350,000 Active
5. 2024-06-03
   soldstatus
6. 2015-05-01
   soldstatus
7. 2014-06-03
   listed $80,000
8. 2012-08-08
   listed $124,000
9. 2002-07-30
   listed $185,000

ⓘ 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: $2,506 · $209/mo
• Projected year-2 tax: $2,800 · $233/mo
• Expected delta: +$294/yr (+$24/mo · 11.7%)

ⓘ 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 2/10 Low 8 d/yr ≥86°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,932
• − Mortgage interest: −$19,605
• − Property taxes: −$2,506
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,035
• − Management: −$3,035
• − Depreciation: −$10,182
• Taxable loss: −$2,180
• Est. tax savings @ 24.0%: +$523
• After-tax cash flow: $4,208/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: Los Alamos Public Schools
• NCES district ID: 3501650
• Math proficiency: 61% ▲ 14.00%
• Reading proficiency: 78% ▲ 20.00%
• Median HH income: $104,436
• Composite: 64.09/100
• National rank: #577
• State rank: #2 of 29 in NM

Livability — Los Alamos

• Score: 81/100
• State rank: #2
• US rank: #1377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Alamos, NM
• County: Los Alamos County · 13,598 people
• City population: 13,598
• Metro: Los Alamos, NM
• Population (ZIP): 13,598
• Household income: $138,583
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 43.0

Population outlook (Los Alamos County) Hauer SSP2

• Today (2025): 17,874 people
• By 2030: 18,157 · +1.6%
• By 2040: 19,073 · +6.7%
• By 2050: 20,010 · +12.0%
• By 2075: 22,686 · +26.9%
• By 2100: 23,523 · +31.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 19% Two or more races 11% Asian 7% Black 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Slovak 4% Romanian 3%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 79% English-only · Spanish 9% Chinese 4% Other Indo-European 2%

Political lean MEDSL · Los Alamos

• 2024 margin: Solid D (+30.2) · D 63.4% · R 33.2% · Other 3.4%
• 2008→2024 swing: +23.3pp toward D · 2008: 6.9pp · 2024: 30.2pp
• All cycles: 2024: D+30.2 2020: D+26.6 2016: D+20.3 2012: D+3.7 2008: D+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -377.45%
• Current HPI: 192.7096
• Rent YoY: —
• Metro: Los Alamos, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+89.2% since first listed

9 events — show timeline

• 2026-05-10 Pending — Santa Fe MLS
• 2026-05-07 Relisted — Santa Fe MLS
• 2026-04-26 Pending — Santa Fe MLS
• 2026-04-24 Listed $350,000 Santa Fe MLS
• 2024-06-03 Sold (Public Records) — Public Records
• 2015-05-01 Sold (Public Records) — Public Records
• 2014-06-03 Listed $80,000 Santa Fe MLS
• 2012-08-08 Listed $124,000 Santa Fe MLS
• 2002-07-30 Listed $185,000 Santa Fe MLS

Property tax history

+9.8%/yr

Latest (2025): $2,506 · +108.9% YoY. Source: county tax records.