600 Balsam St · Grants, NM 87020

$150,000

4 bd · 1.5 ba · 2,550 sqft · Other · 60 Days on market

Built 1959 8,407 sqft lot $59/sqft · 44% below area Est $267k · 44% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious home offers over 2,500 sqft with solid potential. It features a primary bedroom + 1 additional bedroom downstairs, 2 bedrooms upstairs, and 2 bathrooms total. Primary suite is the unfinished room that was being remodeled by current owner. Upstairs there is a small landing loft with lots of natural light. The home needs refreshing, but the home has strong underlying value. Conveniently located close to I-40 for easy access to Albuquerque. Perfect for investors or hands-on buyers ready to personalize and build equity. Turn this classic, family-loved property into your dream home!

Key facts

• 8,407 sq ft lot
• Built 1959
• Listed 60 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (8.6% below list).
• Recommended offer: $137k (8.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#115 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• 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: 76 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cibola County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,051 (8.6% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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: 0.91% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 9.1

CMA / ARV

• ARV (median comp): $266,714
• List price: $150,000
• Delta: -43.76%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-17,836
• Equity at exit: $22,365

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-7,237
• Equity at exit: $12,969

Cash invested: $42,000 (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 87020

• Active inventory: 76
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$132 /mo · $1,581/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $102

Break-even live

Break-even rent $1,242

Max offer price $150,000

Occupancy floor 88%

Sensitivity live

Price	-10% $187	-5% $144	+0% $102	+5% $59	+10% $17
Rent	-10% $-6	-5% $48	+0% $102	+5% $156	+10% $210
Rate	-1.0pp $177	-0.5pp $140	base $102	+0.5pp $63	+1.0pp $23

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $150,000 Active 60 DOM
2. 2026-06-17
   days on market $150,000 Active 59 DOM
3. 2026-06-16
   days on market $150,000 Active 58 DOM
4. 2026-06-15
   days on market $150,000 Active 57 DOM
5. 2026-06-13
   days on market $150,000 Active 55 DOM
6. 2026-06-10
   days on market $150,000 Active 52 DOM
7. 2026-06-09
   days on market $150,000 Active 51 DOM
8. 2026-06-08
   days on market $150,000 Active 50 DOM
9. 2026-06-07
   days on market $150,000 Active 49 DOM
10. 2026-06-03
    days on market $150,000 Active 45 DOM
11. 2026-06-02
    days on market $150,000 Active 44 DOM
12. 2026-06-01
    days on market $150,000 Active 43 DOM
13. 2026-05-31
    days on market $150,000 Active 42 DOM
14. 2026-04-16
    listed $150,000 Active 598-char remark

    Show marketing remark (598 chars)

    This spacious home offers over 2,500 sqft with solid potential. It features a primary bedroom + 1 additional bedroom downstairs, 2 bedrooms upstairs, and 2 bathrooms total. Primary suite is the unfinished room that was being remodeled by current owner. Upstairs there is a small landing loft with lots of natural light. The home needs refreshing, but the home has strong underlying value. Conveniently located close to I-40 for easy access to Albuquerque. Perfect for investors or hands-on buyers ready to personalize and build equity. Turn this classic, family-loved property into your dream home!

ⓘ 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: $1,581 · $132/mo
• Projected year-2 tax: $1,581 · $132/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 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: $16,446
• − Mortgage interest: −$8,402
• − Property taxes: −$1,581
• − Insurance: −$750
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$4,364
• Taxable loss: −$1,283
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $1,530/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: 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 — Grants

• Score: 60/100
• State rank: #115
• US rank: #19558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grants, NM
• Population (ZIP): 11,874

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 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 27% Two or more races 19% Native American 13% Black 4%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 5% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 69% English-only · Spanish 24% Vietnamese 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: ▼ -109.40%
• Current HPI: 167.6417
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-16 Listed $150,000 Southwest MLS

Property tax history

+5.9%/yr

Latest (2025): $1,581 · +3.6% YoY. Source: county tax records.