718 Aspen Ave · Milan, NM 87021

$70,000

3 bd · 1.5 ba · 1,624 sqft · Manufactured · 301 Days on market

Built 2003 Poor condition 0.31 ac lot ↓ 20% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

Key facts

• 0.31 acre lot
• 0.31 acre lot
• Built 2003

Tags

• 0.31 ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-2 ($-22/yr) — negative.
• To cash-flow at today's rent, offer at most $70k (0.4% below list).
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#144 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-; Watch: health & safety C-, housing D, schools F.
• Grants-Cibola County Schools (town): math 14% / reading 22% proficiency, ranked #74 of 95 in NM (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 17 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.0% local appreciation)).
• Cibola County population projected at -14% 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 301 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 301 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 13.57%
• Cash-on-cash: 26.00%
• DSCR: 2.16
• GRM: 5.1

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: 7.6%
• Equity multiple: 1.44×
• Total profit: $8,598
• Equity at exit: $31,475

10-year hold

• IRR: 10.5%
• Equity multiple: 2.59×
• Total profit: $31,162
• Equity at exit: $48,507

Cash invested: $19,600 (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 87021

• Active inventory: 17
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-2

Break-even live

Break-even rent $1,152

Max offer price $69,740

Occupancy floor 95%

Sensitivity live

Price	-10% $47	-5% $22	+0% $-2	+5% $-26	+10% $-50
Rent	-10% $-93	-5% $-47	+0% $-2	+5% $44	+10% $89
Rate	-1.0pp $33	-0.5pp $16	base $-2	+0.5pp $-20	+1.0pp $-38

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 Willow Dr Milan, NM	2.0	2.0	1100	$1,150	$1.05	45d	1	0.82mi

Listing history 21 events

1. 2026-06-18
   days on market $70,000 Active 301 DOM
2. 2026-06-17
   days on market $70,000 Active 300 DOM
3. 2026-06-16
   days on market $70,000 Active 299 DOM
4. 2026-06-15
   days on market $70,000 Active 298 DOM
5. 2026-06-13
   days on market $70,000 Active 296 DOM
6. 2026-06-10
   days on market $70,000 Active 293 DOM
7. 2026-06-09
   days on market $70,000 Active 292 DOM
8. 2026-06-08
   days on market $70,000 Active 291 DOM
9. 2026-06-07
   pricedays on market $70,000 Active 290 DOM
10. 2026-06-03
    days on market $80,000 Active 286 DOM
11. 2026-06-02
    days on market $80,000 Active 285 DOM
12. 2026-05-31
    days on market $80,000 Active 284 DOM
13. 2026-04-28
    price $80,000 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

14. 2026-04-03
    status Active 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

15. 2026-04-01
    historical 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

16. 2026-03-03
    price $85,000 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

17. 2026-02-24
    price $80,000 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

18. 2025-11-25
    price $85,000 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

19. 2025-10-17
    price $90,000 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

20. 2025-09-17
    price $95,000 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

21. 2025-08-18
    listed $100,000 Active 139-char remark

    Show marketing remark (139 chars)

    PRICED TO SELL. 3 bedroom 1 and a half bathroom double wide mobile home needing some TLC. Located on 0.31 acre lot. Must see to appreciate.

ⓘ 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 5/10 Major FEMA zone AE · 62% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $13,800
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$5,468
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,036
• Taxable loss: −$884
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $191/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 · 1 photo

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and maintenance, including board-up and repair of windows and siding, as well as landscaping and driveway paving. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major Boarded-up windows — Structural damage
• Major Missing siding — Exterior damage

Value-add opportunities

• Both Board up and repair windows — Safety and appearance
• Both Replace siding — Structural integrity and curb appeal
• Both Landscaping and driveway paving — Curb appeal and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Boarded-up windows · Structural damage	Major	$15,000–50,000
Missing siding · Exterior damage	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Board up and repair windows — Safety and appearance ↑
• Both Replace siding — Structural integrity and curb appeal ↑
• Both Landscaping and driveway paving — Curb appeal and safety ↑

ⓘ 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: Grants-Cibola County Schools
• NCES district ID: 3501170
• Math proficiency: 14% —
• Reading proficiency: 22% —
• Median HH income: $35,996
• Composite: 18.23/100
• National rank: #14064
• State rank: #74 of 95 in NM

Livability — Milan

• Score: 58/100
• State rank: #144
• US rank: #21042

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milan, NM
• Population (ZIP): 3,164

Population outlook (Cibola County) Hauer SSP2

• Today (2025): 26,324 people
• By 2030: 25,594 · -2.8%
• By 2040: 24,117 · -8.4%
• By 2050: 22,568 · -14.3%
• By 2075: 18,653 · -29.1%
• By 2100: 12,719 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 51% Two or more races 33% Native American 25% White 21% Asian 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 11% Scottish 2% Lithuanian 1%
• Foreign-born: 2% · China
• Languages at home: 68% English-only · Spanish 15% Chinese 1%

Political lean MEDSL · Cibola

• 2024 margin: Toss-up / Even · D 49.6% · R 48.0% · Other 2.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 29.6pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.7 2016: D+6.8 2012: D+23.8 2008: D+29.6

Not yet ingested

• Civics: —

Market trends

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

Price history

-20.0% since first listed

9 events — show timeline

• 2026-04-28 Price Changed $80,000 NMMLS
• 2026-04-03 Relisted — NMMLS
• 2026-04-01 Delisted — NMMLS
• 2026-03-03 Price Changed $85,000 NMMLS
• 2026-02-24 Price Changed $80,000 NMMLS
• 2025-11-25 Price Changed $85,000 NMMLS
• 2025-10-17 Price Changed $90,000 NMMLS
• 2025-09-17 Price Changed $95,000 NMMLS
• 2025-08-18 Listed $100,000 NMMLS