9204 Butterfield Blvd · Butterfield Park, NM 88011

$150,000

3 bd · 2.0 ba · 1,539 sqft · SingleFamily public records · 98 Days on market

Built 1945 0.35 ac lot ↓ 6% 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 +28.0/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.6/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with incredible potential! This 3-bedroom, 1-bath home offers a spacious layout featuring both a living room and a separate family room, providing plenty of room to re-imagine and customize the space to fit your vision. The property also includes convenient RV access and beautiful mountain views, adding to its appeal. With some TLC and updates, this home has the potential to truly shine. Whether you're an investor, flipper, or buyer looking to build sweat equity, this is a great opportunity to create value and make it your own. Call the listing broker now for an appointment to view it!

Key facts

• Mountain views
• 0.35 acre lot
• Parking

Tags

• MOUNTAIN VIEWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 400 active listings in the ZIP; solid renter incomes; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 4→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 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 1945 — 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. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.28% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $845
• Equity at exit: $22,365

10-year hold

• IRR: 7.5%
• Equity multiple: 1.50×
• Total profit: $21,050
• 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 88011

• Rents YoY: 0.3%
• Active inventory: 400
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,718 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$40 /mo · $482/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $468

Break-even live

Break-even rent $1,126

Max offer price $150,000

Occupancy floor 68%

Sensitivity live

Price	-10% $553	-5% $510	+0% $468	+5% $425	+10% $383
Rent	-10% $332	-5% $400	+0% $468	+5% $536	+10% $603
Rate	-1.0pp $543	-0.5pp $506	base $468	+0.5pp $429	+1.0pp $389

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 16 events

1. 2026-06-18
   days on market $150,000 Active 98 DOM
2. 2026-06-17
   days on market $150,000 Active 97 DOM
3. 2026-06-16
   days on market $150,000 Active 96 DOM
4. 2026-06-15
   days on market $150,000 Active 95 DOM
5. 2026-06-14
   days on market $150,000 Active 93 DOM
6. 2026-06-13
   days on market $150,000 Active 92 DOM
7. 2026-06-10
   days on market $150,000 Active 90 DOM
8. 2026-06-09
   days on market $150,000 Active 89 DOM
9. 2026-06-08
   days on market $150,000 Active 88 DOM
10. 2026-06-07
    days on market $150,000 Active 87 DOM
11. 2026-06-02
    days on market $150,000 Active 82 DOM
12. 2026-06-01
    days on market $150,000 Active 81 DOM
13. 2026-05-31
    days on market $150,000 Active 80 DOM
14. 2026-05-30
    days on market $150,000 Active 79 DOM
15. 2026-04-22
    price $150,000 609-char remark

    Show marketing remark (609 chars)

    Investor special with incredible potential! This 3-bedroom, 1-bath home offers a spacious layout featuring both a living room and a separate family room, providing plenty of room to re-imagine and customize the space to fit your vision. The property also includes convenient RV access and beautiful mountain views, adding to its appeal. With some TLC and updates, this home has the potential to truly shine. Whether you're an investor, flipper, or buyer looking to build sweat equity, this is a great opportunity to create value and make it your own. Call the listing broker now for an appointment to view it!

16. 2026-03-12
    listed $160,000 Active 609-char remark

    Show marketing remark (609 chars)

    Investor special with incredible potential! This 3-bedroom, 1-bath home offers a spacious layout featuring both a living room and a separate family room, providing plenty of room to re-imagine and customize the space to fit your vision. The property also includes convenient RV access and beautiful mountain views, adding to its appeal. With some TLC and updates, this home has the potential to truly shine. Whether you're an investor, flipper, or buyer looking to build sweat equity, this is a great opportunity to create value and make it your own. Call the listing broker now for an appointment to view it!

ⓘ 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: $482 · $40/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$718/yr (+$60/mo · 148.7%)

ⓘ 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 5/10 Major 4 d/yr ≥97°F today · 12 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: $20,614
• − Mortgage interest: −$8,402
• − Property taxes: −$482
• − Insurance: −$750
• − Repairs & maintenance: −$1,649
• − Management: −$1,649
• − Depreciation: −$4,364
• Taxable income: $3,317
• Est. tax owed @ 24.0%: −$796
• After-tax cash flow: $4,817/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: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Butterfield Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Butterfield Park, NM
• County: Dona Ana County · 144,044 people
• Metro: Las Cruces, NM
• Population (ZIP): 33,064
• Household income: $75,875
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1398.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 52% Hispanic / Latino 40% Two or more races 18% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 74% English-only · Spanish 21% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.94%
• Current HPI: 196.0554
• Rent YoY: ▲ 0.28%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-6.2% since first listed

2 events — show timeline

• 2026-04-22 Price Changed $150,000 SNMMLS as distributed by MLS GRID
• 2026-03-12 Listed $160,000 SNMMLS as distributed by MLS GRID

Property tax history

-0.2%/yr

Latest (2025): $482 · -0.5% YoY. Source: county tax records.