841 NM 170 · La Plata, NM 87401

$120,000

3 bd · 2.0 ba · 1,120 sqft · Other · 3 Days on market

Built 1990 3.00 ac lot

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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 +7.6/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Schools +3.2/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

GREAT VIEWS!!! If you're looking for acreage in the county with great views, then you've found it! 3 acres just north of Jackson Lake on NM 170. This parcel is fully fenced and ready for someone to start a new life here. The single wide is a 3 bed 2 bath and needs a little love, but the bones are good. Call for a personal tour!!!

Key facts

• 3 acre lot
• Built 1990
• Listed 2 days

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Home design: Manufactured home (residential)
• Exterior features: Property sits on 3 acres; Zoned None/County; Directions: Take NM 170 north, about 1 mile north of Jackson Lake on the left

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Two full bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).

Location & tenants

• Location reads 55/100 on livability (#219 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B; Watch: amenities F, commute F, employment D-.
• Farmington Municipal Schools (urban): math 23% / reading 43% proficiency, ranked #23 of 95 in NM (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ladera Del Norte Elementary (543 students, 40% FRL); Tibbetts Middle School (683 students, 100% FRL); Farmington High (math 50% / reading 90%, grade B+, #18 of 110 statewide, top 17%, 1,824 students, 49% FRL) — zoned schools average 63% FRL vs 48% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 70% at this address vs 33% district-wide (+37 pts) — the actual schools serving this property are materially stronger than the Farmington Municipal Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.1%/yr); 238 active listings in the ZIP; 78 units permitted in San Juan County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• San Juan County population projected at -51% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $120,000

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 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?
3. 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.
4. 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.
5. 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: 1.26% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.60%
• DSCR: 1.78
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.08% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.45×
• Total profit: $15,128
• Equity at exit: $17,892

10-year hold

• IRR: 21.6%
• Equity multiple: 3.00×
• Total profit: $67,231
• Equity at exit: $10,375

Cash invested: $33,600 (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 87401

• Rents YoY: 5.1%
• Active inventory: 238
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,515 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$25 /mo · $296/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $493

Break-even live

Break-even rent $891

Max offer price $120,000

Occupancy floor 62%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $120,000 Active 3 DOM
2. 2026-06-18
   days on market $120,000 Active 2 DOM
3. 2026-06-17
   remarks 331-char remark
4. 2026-06-17
   listed $120,000 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: $296 · $25/mo
• Projected year-2 tax: $960 · $80/mo
• Expected delta: +$664/yr (+$55/mo · 224.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 18 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: $18,179
• − Mortgage interest: −$6,722
• − Property taxes: −$296
• − Insurance: −$600
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,491
• Taxable income: $4,162
• Est. tax owed @ 24.0%: −$999
• After-tax cash flow: $4,915/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: Farmington Municipal Schools
• NCES district ID: 3500990
• Math proficiency: 23% —
• Reading proficiency: 43% —
• Median HH income: $51,365
• Composite: 31.5/100
• National rank: #11178
• State rank: #23 of 95 in NM

Livability — La Plata

• Score: 55/100
• State rank: #219
• US rank: #23701

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Plata, NM
• County: San Juan County · 45,229 people
• Metro: Farmington, NM
• Population (ZIP): 45,229
• Household income: $61,886
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1190.0

Population outlook (San Juan County) Hauer SSP2

• Today (2025): 95,201 people
• By 2030: 84,154 · -11.6%
• By 2040: 63,810 · -33.0%
• By 2050: 46,929 · -50.7%
• By 2075: 21,097 · -77.8%
• By 2100: 9,410 · -90.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.80)
• Race & ethnicity: White 38% Native American 32% Hispanic / Latino 24% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 72% English-only · Spanish 13%

Political lean MEDSL · San Juan

• 2024 margin: Solid R (+31.7) · D 33.0% · R 64.7% · Other 2.3%
• 2008→2024 swing: -10.6pp toward R · 2008: -21.2pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+28.3 2016: R+33.1 2012: R+28.5 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.62%
• Current HPI: 170.162
• Rent YoY: ▲ 5.08%
• Metro: Farmington, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-16 Listed $120,000 SJCMLS

Property tax history

+4.8%/yr

Latest (2025): $296 · +11.1% YoY. Source: county tax records.