103 Catron St #62 · Santa Fe, NM 87501

$50,000

2 bd · 2.5 ba · 1,780 sqft · Condo public records · 228 Days on market

Built 2006 $624/mo HOA · 19% of rent ↓ 43% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to The Residences Club at El Corazon de Santa Fe, now proudly managed by HVO (Hyatt Vacation Ownership)—bringing world-class service and sophistication to the heart of downtown Santa Fe. Own a fraction of this beautifully appointed 2-bedroom, 2.5-bath, 1,850 sq. ft. townhome, located just a 5-minute stroll to the historic Plaza, surrounded by fine dining, renowned art galleries, and boutique shopping. This is not a timeshare—it’s deeded real estate ownership with true benefits. As an owner, you’re guaranteed 4 weeks each year, with the flexibility to enjoy additional weeks based on availability. Use your weeks, share them with friends and family, or even reserve multiple units for memorable group getaways. Inside, the home is fully furnished and meticulously maintained, featuring a modern kitchen with stainless steel appliances, ample wood cabinetry, and a laundry area for convenience. The living room’s cozy fireplace and an additional fireplace in the primary bedroom create the perfect ambiance during Santa Fe’s crisp winters. The primary suite also offers a private balcony, spacious walk-in closet, and a luxurious ensuite bath. Enjoy the peace of mind that comes with gated security, dedicated on-site staff, and HOA fees that cover taxes, insurance, full maintenance, and all furnishings. Plus, you’ll have access to premium amenities, including a fitness center and outdoor BBQ area—ideal for making the most of your time in this exclusive community. At El Corazon de Santa Fe, you’re not just purchasing a property—you’re investing in a lifestyle of comfort, convenience, and care. It’s the perfect way to own a vacation home without the hassle of full-time upkeep.

Key facts

• Gated security
• Private balcony
• Walk-in closet

Tags

• GATED SECURITY
• MODERN KITCHEN
• COZY FIREPLACE
• PRIVATE BALCONY
• WALK-IN CLOSET
• LUXURIOUS ENSUITE BATH

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 44.9% vs local median 2.4% in Santa Fe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#9 in NM, #4,641 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F.
• Santa Fe Public Schools (urban): math 34% / reading 70% proficiency, ranked #6 of 29 in NM (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 235 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 244 units permitted in Santa Fe County in 2024 (0 in 5+ unit buildings).
• At $3,261/mo this rent would consume 49% of the median local household income ($80k/yr) (locally 905% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $18k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 6.52% ✓
• Cap rate: 44.85%
• Cash-on-cash: 137.71%
• DSCR: 7.13
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.68×
• Total profit: $93,511
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 16.02×
• Total profit: $210,282
• Equity at exit: $4,323

Cash invested: $14,000 (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 87501

• Rents YoY: 2.6%
• Active inventory: 235
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $3,261 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$624
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $1,607

Break-even live

Break-even rent $1,227

Max offer price $50,000

Occupancy floor 46%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Staab St Unit NA Santa Fe, NM	3.0	2.0	1800	$3,900	$2.17	44d	1	0.13mi
326 Staab St Santa Fe, NM	3.0	2.0	1800	$3,900	$2.17	21d	1	0.13mi
602 Griffin St Santa Fe, NM	2.0	2.0	1500	$3,500	$2.33	44d	1	0.32mi
101 Williams St Unit A Santa Fe, NM	2.0	2.0	1314	$3,500	$2.66	44d	1	0.53mi
602 Agua Fria St Santa Fe, NM	2.0	1.5	1300	$2,950	$2.27	44d	1	0.56mi
231 W Manhattan Ave Unit A Santa Fe, NM	2.0	2.0	1250	$3,500	$2.80	44d	1	0.60mi
126 Fiesta St Santa Fe, NM	2.0	1.0	2094	$2,300	$1.10	21d	1	0.70mi
216 Miramonte St Santa Fe, NM	3.0	1.5	1300	$2,850	$2.19	44d	1	0.88mi
701 Camino de la Familia Santa Fe, NM	1.0	2.0	1408	$3,375	$2.40	21d	1	0.92mi
903 Don Gaspar Ave Santa Fe, NM	2.0	1.0	1600	$3,500	$2.19	21d	1	1.03mi
508 Franklin Ave Santa Fe, NM	2.0	1.0	1900	$2,300	$1.21	21d	1	1.03mi
406 Cortez Pl Santa Fe, NM	3.0	2.0	1450	$2,650	$1.83	44d	1	1.16mi
1304 Galisteo Pkwy Santa Fe, NM	2.0	1.0	1612	$2,950	$1.83	44d	1	1.48mi

HOA detail condo

• Monthly dues: $624 · $7,488/yr
• Likely covers: gymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-19
   days on market $50,000 Active 228 DOM
2. 2026-06-18
   days on market $50,000 Active 227 DOM
3. 2026-06-17
   days on market $50,000 Active 226 DOM
4. 2026-06-16
   days on market $50,000 Active 225 DOM
5. 2026-06-15
   days on market $50,000 Active 224 DOM
6. 2026-06-14
   days on market $50,000 Active 222 DOM
7. 2026-06-13
   days on market $50,000 Active 221 DOM
8. 2026-06-10
   days on market $50,000 Active 219 DOM
9. 2026-06-09
   days on market $50,000 Active 218 DOM
10. 2026-06-08
    days on market $50,000 Active 217 DOM
11. 2026-06-07
    days on market $50,000 Active 216 DOM
12. 2026-06-03
    days on market $50,000 Active 212 DOM
13. 2026-06-02
    days on market $50,000 Active 211 DOM
14. 2026-06-01
    days on market $50,000 Active 210 DOM
15. 2026-05-31
    days on market $50,000 Active 209 DOM
16. 2026-05-30
    days on market $50,000 Active 208 DOM
17. 2026-01-22
    price $50,000 1768-char remark

    Show marketing remark (1768 chars)

    Welcome to The Residences Club at El Corazon de Santa Fe, now proudly managed by HVO (Hyatt Vacation Ownership)—bringing world-class service and sophistication to the heart of downtown Santa Fe. Own a fraction of this beautifully appointed 2-bedroom, 2.5-bath, 1,850 sq. ft. townhome, located just a 5-minute stroll to the historic Plaza, surrounded by fine dining, renowned art galleries, and boutique shopping. This is not a timeshare—it’s deeded real estate ownership with true benefits. As an owner, you’re guaranteed 4 weeks each year, with the flexibility to enjoy additional weeks based on availability. Use your weeks, share them with friends and family, or even reserve multiple units for memorable group getaways. Inside, the home is fully furnished and meticulously maintained, featuring a modern kitchen with stainless steel appliances, ample wood cabinetry, and a laundry area for convenience. The living room’s cozy fireplace and an additional fireplace in the primary bedroom create the perfect ambiance during Santa Fe’s crisp winters. The primary suite also offers a private balcony, spacious walk-in closet, and a luxurious ensuite bath. Enjoy the peace of mind that comes with gated security, dedicated on-site staff, and HOA fees that cover taxes, insurance, full maintenance, and all furnishings. Plus, you’ll have access to premium amenities, including a fitness center and outdoor BBQ area—ideal for making the most of your time in this exclusive community. At El Corazon de Santa Fe, you’re not just purchasing a property—you’re investing in a lifestyle of comfort, convenience, and care. It’s the perfect way to own a vacation home without the hassle of full-time upkeep.

18. 2025-11-03
    listed $67,500 Active 1768-char remark

    Show marketing remark (1768 chars)

    Welcome to The Residences Club at El Corazon de Santa Fe, now proudly managed by HVO (Hyatt Vacation Ownership)—bringing world-class service and sophistication to the heart of downtown Santa Fe. Own a fraction of this beautifully appointed 2-bedroom, 2.5-bath, 1,850 sq. ft. townhome, located just a 5-minute stroll to the historic Plaza, surrounded by fine dining, renowned art galleries, and boutique shopping. This is not a timeshare—it’s deeded real estate ownership with true benefits. As an owner, you’re guaranteed 4 weeks each year, with the flexibility to enjoy additional weeks based on availability. Use your weeks, share them with friends and family, or even reserve multiple units for memorable group getaways. Inside, the home is fully furnished and meticulously maintained, featuring a modern kitchen with stainless steel appliances, ample wood cabinetry, and a laundry area for convenience. The living room’s cozy fireplace and an additional fireplace in the primary bedroom create the perfect ambiance during Santa Fe’s crisp winters. The primary suite also offers a private balcony, spacious walk-in closet, and a luxurious ensuite bath. Enjoy the peace of mind that comes with gated security, dedicated on-site staff, and HOA fees that cover taxes, insurance, full maintenance, and all furnishings. Plus, you’ll have access to premium amenities, including a fitness center and outdoor BBQ area—ideal for making the most of your time in this exclusive community. At El Corazon de Santa Fe, you’re not just purchasing a property—you’re investing in a lifestyle of comfort, convenience, and care. It’s the perfect way to own a vacation home without the hassle of full-time upkeep.

19. 2025-03-11
    soldstatus
20. 2025-02-22
    historical Active Under Contract
21. 2024-11-15
    listed $88,000 Active
22. 2021-04-29
    soldstatus
23. 2010-03-29
    soldstatus

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 8 d/yr ≥88°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,131
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$3,130
• − Management: −$3,130
• − HOA: −$7,488
• − Depreciation: −$1,455
• Taxable income: $20,127
• Est. tax owed @ 24.0%: −$4,830
• After-tax cash flow: $14,449/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: Santa Fe Public Schools
• NCES district ID: 3502370
• Math proficiency: 34% ▲ 16.00%
• Reading proficiency: 70% ▲ 40.00%
• Median HH income: $55,031
• Composite: 44.78/100
• National rank: #2744
• State rank: #6 of 29 in NM

Livability — Santa Fe

• Score: 74/100
• State rank: #9
• US rank: #4641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Fe, NM
• County: Santa Fe County · 118,003 people
• City population: 118,003
• Metro: Santa Fe, NM
• Population (ZIP): 16,007
• Household income: $79,603
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 905.0

Population outlook (Santa Fe County) Hauer SSP2

• Today (2025): 156,674 people
• By 2030: 159,422 · +1.8%
• By 2040: 160,891 · +2.7%
• By 2050: 159,966 · +2.1%
• By 2075: 161,318 · +3.0%
• By 2100: 157,302 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 15% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 12% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Santa Fe

• 2024 margin: Solid D (+48.9) · D 73.3% · R 24.4% · Other 2.2%
• 2008→2024 swing: -6.1pp toward R · 2008: 55.0pp · 2024: 48.9pp
• All cycles: 2024: D+48.9 2020: D+53.8 2016: D+51.0 2012: D+51.0 2008: D+55.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -595.93%
• Current HPI: 250.8292
• Rent YoY: ▲ 2.65%
• Metro: Santa Fe, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-43.2% since first listed

7 events — show timeline

• 2026-01-22 Price Changed $50,000 Santa Fe MLS
• 2025-11-03 Listed $67,500 Santa Fe MLS
• 2025-03-11 Sold (Public Records) — Public Records
• 2025-02-22 Contingent — Santa Fe MLS
• 2024-11-15 Listed $88,000 Santa Fe MLS
• 2021-04-29 Sold (Public Records) — Public Records
• 2010-03-29 Sold (Public Records) — Public Records

Property tax history

+1.6%/yr

Latest (2025): $6,508 · +2.6% YoY. Source: county tax records.