801 E A Ave · Melrose, NM 88124

$67,500

2 bd · 1.0 ba · 968 sqft · Other · 147 Days on market

Built 1937 0.96 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 +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Welcome to this cozy 2-bedroom, 1-bath home featuring recent interior updates and a brand-new roof. The property includes a detached carport and sits on nearly an acre, offering plenty of outdoor space with great potential. Whether you're looking for your next investment opportunity or a peaceful place to call home, this property is full of possibilities. Don't miss the chance to view this home---schedule your showing today!

Key facts

• Detached carport
• Brand new roof
• Outdoor space

Tags

• RECENT INTERIOR UPDATES
• BRAND NEW ROOF
• DETACHED CARPORT
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $68k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($854 rent vs $68k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#142 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, health & safety C-, employment D.
• Melrose Public Schools (rural): math 25% / reading 25% proficiency, ranked #24 of 29 in NM (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($467 loan paydown + $2k appreciation (3.0% local appreciation)).
• Curry County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.27% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.90%
• DSCR: 1.75
• GRM: 6.6

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: 23.4%
• Equity multiple: 2.33×
• Total profit: $25,061
• Equity at exit: $30,351

10-year hold

• IRR: 24.2%
• Equity multiple: 4.46×
• Total profit: $65,436
• Equity at exit: $46,774

Cash invested: $18,900 (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 88124

• Active inventory: 10
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $854 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$26 /mo · $316/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $266

Break-even live

Break-even rent $517

Max offer price $67,500

Occupancy floor 64%

Sensitivity live

Price	-10% $304	-5% $285	+0% $266	+5% $247	+10% $228
Rent	-10% $199	-5% $232	+0% $266	+5% $300	+10% $334
Rate	-1.0pp $300	-0.5pp $283	base $266	+0.5pp $249	+1.0pp $231

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $67,500 Active 147 DOM
2. 2026-06-18
   days on market $67,500 Active 146 DOM
3. 2026-06-17
   days on market $67,500 Active 145 DOM
4. 2026-06-16
   days on market $67,500 Active 144 DOM
5. 2026-06-15
   days on market $67,500 Active 143 DOM
6. 2026-06-14
   days on market $67,500 Active 141 DOM
7. 2026-06-12
   days on market $67,500 Active 140 DOM
8. 2026-06-09
   days on market $67,500 Active 137 DOM
9. 2026-06-08
   days on market $67,500 Active 136 DOM
10. 2026-06-07
    days on market $67,500 Active 135 DOM
11. 2026-06-05
    days on market $67,500 Active 132 DOM
12. 2026-06-02
    days on market $67,500 Active 130 DOM
13. 2026-06-01
    days on market $67,500 Active 129 DOM
14. 2026-05-31
    days on market $67,500 Active 128 DOM
15. 2026-05-30
    days on market $67,500 Active 127 DOM
16. 2026-01-23
    listed $67,500 Active 428-char remark

    Show marketing remark (428 chars)

    Welcome to this cozy 2-bedroom, 1-bath home featuring recent interior updates and a brand-new roof. The property includes a detached carport and sits on nearly an acre, offering plenty of outdoor space with great potential. Whether you're looking for your next investment opportunity or a peaceful place to call home, this property is full of possibilities. Don't miss the chance to view this home---schedule your showing today!

ⓘ 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: $316 · $26/mo
• Projected year-2 tax: $540 · $45/mo
• Expected delta: +$224/yr (+$19/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,247
• − Mortgage interest: −$3,781
• − Property taxes: −$316
• − Insurance: −$338
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$1,964
• Taxable income: $2,209
• Est. tax owed @ 24.0%: −$530
• After-tax cash flow: $2,664/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: Melrose Public Schools
• NCES district ID: 3501830
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 25% ▼ -30.00%
• Median HH income: $38,315
• Composite: 20.95/100
• National rank: #8475
• State rank: #24 of 29 in NM

Livability — Melrose

• Score: 58/100
• State rank: #142
• US rank: #20976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Melrose, NM
• Population (ZIP): 907

Population outlook (Curry County) Hauer SSP2

• Today (2025): 48,742 people
• By 2030: 47,759 · -2.0%
• By 2040: 45,444 · -6.8%
• By 2050: 42,403 · -13.0%
• By 2075: 33,878 · -30.5%
• By 2100: 22,414 · -54.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 15% Two or more races 8%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: German 3% Iranian 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Curry

• 2024 margin: Solid R (+42.6) · D 27.8% · R 70.4% · Other 1.8%
• 2008→2024 swing: -8.5pp toward R · 2008: -34.1pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+40.6 2016: R+42.4 2012: R+38.6 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-23 Listed $67,500 NMMLS

Property tax history

+14.5%/yr

Latest (2025): $316 · +28.7% YoY. Source: county tax records.