5475 Porter Dr Spc 121 · Las Cruces, NM 88012

$200,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 5 Days on market

Built 2002 4,356 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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Schools +4.6/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Turn Key * Fully Remodeled * Easy access to Highway 70 * This home offers a rare combination of quality and affordability. It is just over 1,500 square feet with 3 bedrooms, 2 bathrooms, and everything freshly updated and painted. With a remote controlled fireplace and new covered wood deck in the back, this home is ready to be enjoyed. Easy access to highway 70 offers a simple commute, and covered parking offers protection from our harsh desert sun. Come and see what this home has to offer.

Key facts

• Open floor plan
• Covered carport
• Community parks

Tags

• MOUNTAIN VIEWS
• OPEN FLOOR PLAN
• REFRIGERATED AIR CONDITIONING
• FULLY FENCED YARD
• COVERED CARPORT
• COMMUNITY PARKS

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Covered carport (2 spaces)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Residential mobile home; Single-story
• Construction: Shingle roof
• Exterior features: Covered patio/porch; Chain link fencing; Community pool; Shed(s); Has a view

Interior

• Kitchen: Gas cooktop; Gas range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Eat-in kitchen; Kitchen island; Walk-in closets; Open floorplan; Double pane windows; Living room fireplace
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $326 ($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 $195k (2.7% below list).
• Recommended offer: $195k (2.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#120 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities D+, schools D-, crime F.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 591 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

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

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,501 (2.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 0.97% ✗
• Cap rate: 8.25%
• Cash-on-cash: 6.99%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-10,673
• Equity at exit: $29,821

10-year hold

• IRR: 5.1%
• Equity multiple: 1.38×
• Total profit: $21,408
• Equity at exit: $17,292

Cash invested: $56,000 (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 88012

• Home prices YoY: -26.2%
• Rents YoY: 3.5%
• Active inventory: 591
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,945 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $326

Break-even live

Break-even rent $1,532

Max offer price $200,000

Occupancy floor 78%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5014 Kenner Way Las Cruces, NM	3.0	2.0	1657	$1,825	$1.10	13d	1	0.94mi
4942 Sherwood Rd Las Cruces, NM	3.0	2.0	1376	$1,625	$1.18	13d	1	1.02mi

Listing history 6 events

1. 2026-06-18
   days on market $200,000 Active 5 DOM
2. 2026-06-17
   days on market $200,000 Active 4 DOM
3. 2026-06-16
   days on market $200,000 Active 3 DOM
4. 2026-06-15
   days on market $200,000 Active 2 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $200,000 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: $936 · $78/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$664/yr (+$55/mo · 71.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 6 d/yr ≥98°F today · 22 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: $23,340
• − Mortgage interest: −$11,203
• − Property taxes: −$936
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$5,818
• Taxable income: $649
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $3,761/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: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Las Cruces

• Score: 59/100
• State rank: #120
• US rank: #19687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Cruces, NM
• County: Dona Ana County · 144,044 people
• City population: 131,421
• Metro: Las Cruces, NM
• Population (ZIP): 33,158
• Household income: $69,052
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 717.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 32% Two or more races 25% Native American 2% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Slovak 2% Russian 1% Iranian 1%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 65% English-only · Spanish 33%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.04%
• Current HPI: 185.7733
• Rent YoY: ▲ 3.52%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+233.9% since first listed

16 events — show timeline

• 2026-06-13 Listed $200,000 SNMMLS as distributed by MLS GRID
• 2025-10-03 Price Changed $215,000 SNMMLS as distributed by MLS GRID
• 2023-03-08 Sold (Public Records) — Public Records
• 2023-03-08 Sold (MLS) — SNMMLS as distributed by MLS GRID
• 2023-02-10 Pending — SNMMLS as distributed by MLS GRID
• 2023-02-06 Relisted — SNMMLS as distributed by MLS GRID
• 2023-01-03 Pending — SNMMLS as distributed by MLS GRID
• 2022-12-29 Price Changed $165,000 SNMMLS as distributed by MLS GRID
• 2022-12-12 Price Changed $175,000 SNMMLS as distributed by MLS GRID
• 2022-12-05 Relisted — SNMMLS as distributed by MLS GRID
• 2022-12-03 Pending — SNMMLS as distributed by MLS GRID
• 2022-12-01 Listed $185,000 SNMMLS as distributed by MLS GRID
• 2022-05-27 Sold (MLS) — SNMMLS as distributed by MLS GRID
• 2022-05-27 Sold (MLS) — NMMLS
• 2022-02-22 Listed $59,900 SNMMLS as distributed by MLS GRID
• 2022-02-22 Listed $59,900 NMMLS

Property tax history

-17.7%/yr

Latest (2023): $936 · -17.7% YoY. Source: county tax records.