0 Tbd Wildhorse Dr · Costilla, NM 81152

$60,000

3 bd · 1.0 ba · 1,032 sqft · Land · 27 Days on market

Built 1975 42 ac lot

---

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 +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.0/5.0
• Schools +1.3/10.0

Listing remarks

Over 42 acres of southern Colorado land where you can make your vision come to life! An old office building is on site and is ready for a clean-out and renovation to make it your own. Lots of level, buildable space and easy access make this an ideal place for your new home or live/work situation. There is an old well that is capped off, so a new well and a septic system would be needed. There is fiber optic running down the highway but no electric so a solar/generator system would be needed. Come see this unique property for yourself today. Call the listing agent with any questions and to schedule a showing.

Key facts

• Easy access
• 42 acres of land
• 42.41 acre lot

Tags

• 42 ACRES OF LAND
• LEVEL BUILDABLE SPACE
• EASY ACCESS
• FIBER OPTIC AVAILABLE

Property features AI

Finance

• Financial info: 2025 taxes listed (see broker for details)

Exterior

• Parking: Off-street parking; 10 garage spaces
• Utilities: Septic tank sewer; Cable available; No water rights
• Home design: Single family residence; One story; Not new construction; Rural residential zoning
• Construction: Frame and adobe construction; Fiberglass roof; Built on slab
• Exterior features: Patio; Partial fencing; Corner lot; Outbuildings; House faces north; Dirt road access; Horse(s) allowed

Interior

• Bedrooms: 3 bedrooms
• Heating & cooling: Wood stove heating; Slab (no basement)
• Interior features: Level lot

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 40/100 on livability (#385 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Centennial School District No. R-1 (rural): math 6% / reading 20% proficiency, ranked #168 of 176 in CO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Costilla County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.73% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.10%
• DSCR: 2.29
• GRM: 4.8

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: 23.5%
• Equity multiple: 1.97×
• Total profit: $16,238
• Equity at exit: $8,946

10-year hold

• IRR: 31.4%
• Equity multiple: 3.83×
• Total profit: $47,613
• Equity at exit: $5,188

Cash invested: $16,800 (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 81152

• Home prices YoY: -2.9%
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,041 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $407

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 56%

Sensitivity live

Price	-10% $449	-5% $428	+0% $407	+5% $387	+10% $366
Rent	-10% $325	-5% $366	+0% $407	+5% $448	+10% $490
Rate	-1.0pp $438	-0.5pp $423	base $407	+0.5pp $392	+1.0pp $376

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-08
   days on market $60,000 Active 27 DOM
2. 2026-06-07
   days on market $60,000 Active 26 DOM
3. 2026-06-07
   remarks 615-char remark
4. 2026-06-07
   listed $60,000 Active 25 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,486
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$1,745
• Taxable income: $4,182
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $3,885/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: Centennial School District No. R-1
• NCES district ID: 0806360
• Math proficiency: 6% ▬ 0.00%
• Reading proficiency: 20% ▲ 5.00%
• Median HH income: $25,969
• Composite: 13.32/100
• National rank: #14505
• State rank: #168 of 176 in CO

Livability — Costilla

• Score: 40/100
• State rank: #385
• US rank: #27326

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 498
• Population (ZIP): 1,203

Population outlook (Costilla County) Hauer SSP2

• Today (2025): 3,560 people
• By 2030: 3,524 · -1.0%
• By 2040: 3,393 · -4.7%
• By 2050: 3,226 · -9.4%
• By 2075: 3,027 · -15.0%
• By 2100: 2,637 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 23% Native American 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 5% Hispanic 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 63% English-only · Spanish 37% Other Asian/Pacific 1%

Political lean MEDSL · Costilla

• 2024 margin: D (+14.7) · D 55.5% · R 40.9% · Other 3.6%
• 2008→2024 swing: -34.2pp toward R · 2008: 48.9pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+27.2 2016: D+29.0 2012: D+48.6 2008: D+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.60%
• Current HPI: 119.7764
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+20.0% since first listed

5 events — show timeline

• 2026-05-12 Listed $60,000 IRES
• 2019-10-15 Listing Removed — IRES
• 2019-10-15 Listing Removed — REColorado as Distributed by MLS Grid
• 2019-01-03 Listed $50,000 IRES
• 2019-01-03 Listed $50,000 REColorado as Distributed by MLS Grid