17 Gloryland Ln · Pinehaven, NM 87326

$128,000

3 bd · 2.0 ba · 1,876 sqft · SingleFamily · 98 Days on market

Built 1996

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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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Welcome to 17 Gloryland Land in the quiet community of Vanderwagen. This property features a well-maintained manufactured home set on a permanent foundation, offering the benefits of real property financing and long-term stability. The home includes 3 bedrooms and 2 bathrooms, providing a comfortable layout with space for everyday living. Situated in a peaceful rural setting, the property offers wide open skies, natural surroundings, and room to enjoy the outdoors. Whether you’re looking for a full-time residence or a place to get away from the hustle, this home provides privacy while still being within driving distance to nearby amenities in the Gallup area. This property is ready fo

Key facts

• Permanent foundation
• Natural surroundings
• Built 1996

Tags

• PERMANENT FOUNDATION
• PEACEFUL RURAL SETTING
• NATURAL SURROUNDINGS
• ROOM TO ENJOY OUTDOORS
• DRIVING DISTANCE TO AMENITIES

Property features AI

Exterior

• Parking: No garage; RV access/parking
• Utilities: Electricity connected; Propane; Septic tank
• Home design: Manufactured house (double wide) on land; Single-story / One level
• Construction: Shingle roof
• Exterior features: Deck; Fenced lot; Workshop (other structure); Irregular lot

Interior

• Kitchen: Dishwasher
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (propane); Ceiling fans; Evaporative cooling
• Interior features: Ceiling fans; Walk-in closets; Double-pane windows; Wood-burning fireplace in family room (1 fireplace)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $110 ($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 $126k (1.7% below list).
• Recommended offer: $116k (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.
• Gallup-Mckinley Cty Schools (rural): math 17% / reading 30% proficiency, ranked #54 of 95 in NM (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: David Skeet Elementary (250 students, 100% FRL) — zoned schools average 100% FRL vs 84% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 1 units permitted in McKinley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($885 loan paydown + $4k appreciation (3.0% local appreciation)).
• McKinley County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Recommended offer $116,480 (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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 8.5

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: 10.9%
• Equity multiple: 1.63×
• Total profit: $22,425
• Equity at exit: $57,554

10-year hold

• IRR: 13.2%
• Equity multiple: 2.96×
• Total profit: $70,085
• Equity at exit: $88,698

Cash invested: $35,840 (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 87326

• Active inventory: 6
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,920/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $110

Break-even live

Break-even rent $1,120

Max offer price $128,000

Occupancy floor 86%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-04
   statusdays on market $128,000 Pending 98 DOM
2. 2026-06-02
   days on market $128,000 Active 97 DOM
3. 2026-06-01
   days on market $128,000 Active 96 DOM
4. 2026-05-31
   days on market $128,000 Active 95 DOM
5. 2026-05-13
   price $128,000
6. 2026-03-26
   price $149,000
7. 2026-02-19
   listed $169,000 Active
8. 2025-09-30
   price $169,000
9. 2025-08-04
   price $185,000
10. 2024-02-19
    price $125,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥87°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: $15,103
• − Mortgage interest: −$7,170
• − Property taxes: −$1,920
• − Insurance: −$640
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$3,724
• Taxable loss: −$767
• Est. tax savings @ 24.0%: +$184
• After-tax cash flow: $1,500/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: Gallup-Mckinley Cty Schools
• NCES district ID: 3501110
• Math proficiency: 17% —
• Reading proficiency: 30% —
• Median HH income: $30,298
• Composite: 22.01/100
• National rank: #13541
• State rank: #54 of 95 in NM

Livability — Pinehaven

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

Census & demographics

• Population (ZIP): 2,224

Population outlook (McKinley County) Hauer SSP2

• Today (2025): 88,386 people
• By 2030: 94,451 · +6.9%
• By 2040: 107,369 · +21.5%
• By 2050: 119,937 · +35.7%
• By 2075: 148,818 · +68.4%
• By 2100: 160,771 · +81.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 1.00)
• Race & ethnicity: Native American 79% Two or more races 14% White 6%
• Common ancestry: Romanian 4%
• Foreign-born: 0%
• Languages at home: 38% English-only · Spanish 2%

Political lean MEDSL · McKinley

• 2024 margin: Strong D (+24.5) · D 60.7% · R 36.2% · Other 3.1%
• 2008→2024 swing: -19.4pp toward R · 2008: 43.9pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+38.6 2016: D+39.8 2012: D+46.6 2008: D+43.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+2.4% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $128,000 NMMLS
• 2026-03-26 Price Changed $149,000 NMMLS
• 2026-02-19 Listed $169,000 NMMLS
• 2025-09-30 Price Changed $169,000 NMMLS
• 2025-08-04 Price Changed $185,000 NMMLS
• 2024-02-19 Price Changed $125,000 NMMLS