501 2nd Ave · Raton, NM 87740

$95,000

2 bd · 1.0 ba · 1,155 sqft · Other · 367 Days on market

Built 1945 1.09 ac lot ↓ 5% since listing

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, 2 bedroom 1 bath, home at the end of the road. Large lot with mature trees, grape vines, and garden space. This home features a basement with additional room for storage or project space and is ready for it's new owner. This property has a detached garage/workshop area as well as additional storage all in one convenient location near the house. PLEASE NOTE THAT . 07 ACRE IS ACROSS I-25. Majority of the property is with the house. Call today to view.

Key facts

• Grape vines
• Basement
• Large lot

Tags

• LARGE LOT
• MATURE TREES
• GRAPE VINES
• GARDEN SPACE
• BASEMENT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $26 ($307/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#23 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Raton Public Schools (town): math 14% / reading 24% proficiency, ranked #71 of 95 in NM (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Colfax County population projected at -39% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 367 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 367 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 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.00% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 8.3

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-13,706
• Equity at exit: $14,165

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-9,604
• Equity at exit: $8,214

Cash invested: $26,600 (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 87740

• Active inventory: 65
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$62 /mo · $743/yr
• Insurance: −$40
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $26

Break-even live

Break-even rent $918

Max offer price $95,000

Occupancy floor 92%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Nevada Ave Apt 7 Raton, NM	2.0	1.0	700	$950	$1.36	43d	1	1.31mi

Listing history 24 events

1. 2026-06-18
   days on market $95,000 Active 367 DOM
2. 2026-06-17
   days on market $95,000 Active 366 DOM
3. 2026-06-16
   days on market $95,000 Active 365 DOM
4. 2026-06-15
   days on market $95,000 Active 364 DOM
5. 2026-06-13
   days on market $95,000 Active 362 DOM
6. 2026-06-12
   days on market $95,000 Active 361 DOM
7. 2026-06-09
   days on market $95,000 Active 358 DOM
8. 2026-06-08
   days on market $95,000 Active 357 DOM
9. 2026-06-07
   days on market $95,000 Active 356 DOM
10. 2026-06-05
    days on market $95,000 Active 354 DOM
11. 2026-06-04
    days on market $95,000 Active 352 DOM
12. 2026-06-02
    days on market $95,000 Active 351 DOM
13. 2026-06-01
    days on market $95,000 Active 350 DOM
14. 2026-05-31
    days on market $95,000 Active 349 DOM
15. 2025-12-05
    status Active 459-char remark

    Show marketing remark (459 chars)

    Cute, 2 bedroom 1 bath, home at the end of the road. Large lot with mature trees, grape vines, and garden space. This home features a basement with additional room for storage or project space and is ready for it's new owner. This property has a detached garage/workshop area as well as additional storage all in one convenient location near the house. PLEASE NOTE THAT . 07 ACRE IS ACROSS I-25. Majority of the property is with the house. Call today to view.

16. 2025-12-05
    price $95,000 459-char remark

    Show marketing remark (459 chars)

    Cute, 2 bedroom 1 bath, home at the end of the road. Large lot with mature trees, grape vines, and garden space. This home features a basement with additional room for storage or project space and is ready for it's new owner. This property has a detached garage/workshop area as well as additional storage all in one convenient location near the house. PLEASE NOTE THAT . 07 ACRE IS ACROSS I-25. Majority of the property is with the house. Call today to view.

17. 2025-11-29
    historical 459-char remark

    Show marketing remark (459 chars)

    Cute, 2 bedroom 1 bath, home at the end of the road. Large lot with mature trees, grape vines, and garden space. This home features a basement with additional room for storage or project space and is ready for it's new owner. This property has a detached garage/workshop area as well as additional storage all in one convenient location near the house. PLEASE NOTE THAT . 07 ACRE IS ACROSS I-25. Majority of the property is with the house. Call today to view.

18. 2025-06-10
    listed $100,000 Active 459-char remark

    Show marketing remark (459 chars)

    Cute, 2 bedroom 1 bath, home at the end of the road. Large lot with mature trees, grape vines, and garden space. This home features a basement with additional room for storage or project space and is ready for it's new owner. This property has a detached garage/workshop area as well as additional storage all in one convenient location near the house. PLEASE NOTE THAT . 07 ACRE IS ACROSS I-25. Majority of the property is with the house. Call today to view.

19. 2023-10-03
    historical 405-char remark

    Show marketing remark (405 chars)

    Great investment or starter home. This home has a large lot at the end of the road. Just under an acre this 2 bedroom home is ready for it's new owner! Beautiful mature landscaping and trees on property. Detached garage/workshop is great for a small car or storage and workshop area. This home has a bonus finished basement where you can have another bedroom or family room or storage. Call today to view!

20. 2023-10-02
    soldstatus
21. 2023-09-28
    soldstatus Closed 405-char remark

    Show marketing remark (405 chars)

    Great investment or starter home. This home has a large lot at the end of the road. Just under an acre this 2 bedroom home is ready for it's new owner! Beautiful mature landscaping and trees on property. Detached garage/workshop is great for a small car or storage and workshop area. This home has a bonus finished basement where you can have another bedroom or family room or storage. Call today to view!

22. 2023-09-01
    status Active 405-char remark

    Show marketing remark (405 chars)

    Great investment or starter home. This home has a large lot at the end of the road. Just under an acre this 2 bedroom home is ready for it's new owner! Beautiful mature landscaping and trees on property. Detached garage/workshop is great for a small car or storage and workshop area. This home has a bonus finished basement where you can have another bedroom or family room or storage. Call today to view!

23. 2023-08-05
    historical 405-char remark

    Show marketing remark (405 chars)

    Great investment or starter home. This home has a large lot at the end of the road. Just under an acre this 2 bedroom home is ready for it's new owner! Beautiful mature landscaping and trees on property. Detached garage/workshop is great for a small car or storage and workshop area. This home has a bonus finished basement where you can have another bedroom or family room or storage. Call today to view!

24. 2023-05-02
    listed $99,500 Active 405-char remark

    Show marketing remark (405 chars)

    Great investment or starter home. This home has a large lot at the end of the road. Just under an acre this 2 bedroom home is ready for it's new owner! Beautiful mature landscaping and trees on property. Detached garage/workshop is great for a small car or storage and workshop area. This home has a bonus finished basement where you can have another bedroom or family room or storage. Call today to view!

ⓘ 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: $743 · $62/mo
• Projected year-2 tax: $760 · $63/mo
• Expected delta: +$17/yr (+$1/mo · 2.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥89°F today · 25 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: $11,400
• − Mortgage interest: −$5,321
• − Property taxes: −$743
• − Insurance: −$1,978
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$2,764
• Taxable loss: −$1,229
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $603/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: Raton Public Schools
• NCES district ID: 3502190
• Math proficiency: 14% —
• Reading proficiency: 24% —
• Median HH income: $33,774
• Composite: 18.8/100
• National rank: #13993
• State rank: #71 of 95 in NM

Livability — Raton

• Score: 69/100
• State rank: #23
• US rank: #8557

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raton, NM
• Population (ZIP): 7,055

Population outlook (Colfax County) Hauer SSP2

• Today (2025): 10,260 people
• By 2030: 9,240 · -9.9%
• By 2040: 7,474 · -27.2%
• By 2050: 6,285 · -38.7%
• By 2075: 5,109 · -50.2%
• By 2100: 4,684 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (52%)
• Race & ethnicity: Hispanic / Latino 52% White 44% Two or more races 21% Native American 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Italian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 83% English-only · Spanish 14%

Political lean MEDSL · Colfax

• 2024 margin: R (+14.0) · D 41.9% · R 55.9% · Other 2.1%
• 2008→2024 swing: -24.8pp toward R · 2008: 10.7pp · 2024: -14.0pp
• All cycles: 2024: R+14.0 2020: R+11.0 2016: R+8.6 2012: D+2.0 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.47%
• Current HPI: 133.0875
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.5% since first listed

10 events — show timeline

• 2025-12-05 Relisted — NMMLS
• 2025-12-05 Price Changed $95,000 NMMLS
• 2025-11-29 Delisted — NMMLS
• 2025-06-10 Listed $100,000 NMMLS
• 2023-10-03 Delisted — NMMLS
• 2023-10-02 Sold (Public Records) — Public Records
• 2023-09-28 Sold (MLS) — NMMLS
• 2023-09-01 Relisted — NMMLS
• 2023-08-05 Delisted — NMMLS
• 2023-05-02 Listed $99,500 NMMLS

Property tax history

+4.8%/yr

Latest (2025): $743 · -1.6% YoY. Source: county tax records.