133 ''a'' Cedar Place Pl · Ruidoso, NM 88345

$193,280

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 176 Days on market

Built 1998 Fair condition 10,019 sqft lot

---

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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your serene sanctuary, nestled among majestic pine trees in a prime location that perfectly balances tranquility and accessibility. This delightful furnished home is more than just a house; it's a lifestyle waiting to be embraced. With essential amenities just a stone's throw away, you have the best of both worlds--nature and convenience. Nearby hiking trails, and local shops provide endless opportunities for adventure and exploration.

Key facts

• Nearby hiking trails
• Essential amenities
• Majestic pine trees

Tags

• MAJESTIC PINE TREES
• PRIME LOCATION
• ESSENTIAL AMENITIES
• NEARBY HIKING TRAILS
• LOCAL SHOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $193k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $193k).
• Recommended offer: $170k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#40 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Ruidoso Municipal Schools (town): math 16% / reading 59% proficiency, ranked #14 of 29 in NM (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 596 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• At $2,321/mo this rent would consume 52% of the median local household income ($54k/yr) (locally 156% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $54k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $37k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $170,086 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• GRM: 6.9

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $423
• Equity at exit: $28,819

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $41,339
• Equity at exit: $16,711

Cash invested: $54,118 (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 88345

• Active inventory: 596
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,321 medium
• Mortgage (P&I): −$1,014
• Tax est. 1.5%: −$242 /mo · $2,899/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $498

Break-even live

Break-even rent $1,691

Max offer price $193,280

Occupancy floor 74%

Sensitivity live

Price	-10% $631	-5% $565	+0% $498	+5% $431	+10% $364
Rent	-10% $314	-5% $406	+0% $498	+5% $590	+10% $681
Rate	-1.0pp $595	-0.5pp $547	base $498	+0.5pp $448	+1.0pp $397

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: $48,320
• Closing costs: $5,798
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Niblic Ct Ruidoso, NM	3.0	2.5	1363	$2,200	$1.61	45d	1	1.06mi
402 4th St Ruidoso, NM	3.0	2.0	1080	$2,200	$2.04	45d	1	1.19mi
570 2nd St Ruidoso, NM	3.0	3.0	1825	$3,200	$1.75	45d	1	1.41mi

Listing history 23 events

1. 2026-06-21
   days on market $193,280 Active 176 DOM
2. 2026-06-19
   days on market $193,280 Active 174 DOM
3. 2026-06-18
   days on market $193,280 Active 173 DOM
4. 2026-06-17
   days on market $193,280 Active 172 DOM
5. 2026-06-16
   days on market $193,280 Active 171 DOM
6. 2026-06-15
   days on market $193,280 Active 170 DOM
7. 2026-06-14
   days on market $193,280 Active 168 DOM
8. 2026-06-12
   days on market $193,280 Active 167 DOM
9. 2026-06-09
   days on market $193,280 Active 164 DOM
10. 2026-06-08
    days on market $193,280 Active 163 DOM
11. 2026-06-07
    days on market $193,280 Active 162 DOM
12. 2026-06-04
    days on market $193,280 Active 158 DOM
13. 2026-06-02
    days on market $193,280 Active 157 DOM
14. 2026-06-01
    days on market $193,280 Active 156 DOM
15. 2026-05-31
    days on market $193,280 Active 155 DOM
16. 2026-05-31
    days on market $193,280 Active 154 DOM
17. 2026-05-04
    price $193,280 450-char remark

    Show marketing remark (450 chars)

    Welcome to your serene sanctuary, nestled among majestic pine trees in a prime location that perfectly balances tranquility and accessibility. This delightful furnished home is more than just a house; it's a lifestyle waiting to be embraced. With essential amenities just a stone's throw away, you have the best of both worlds--nature and convenience. Nearby hiking trails, and local shops provide endless opportunities for adventure and exploration.

18. 2026-03-11
    price $224,000 450-char remark

    Show marketing remark (450 chars)

    Welcome to your serene sanctuary, nestled among majestic pine trees in a prime location that perfectly balances tranquility and accessibility. This delightful furnished home is more than just a house; it's a lifestyle waiting to be embraced. With essential amenities just a stone's throw away, you have the best of both worlds--nature and convenience. Nearby hiking trails, and local shops provide endless opportunities for adventure and exploration.

19. 2025-12-27
    listed $229,999 Active 450-char remark

    Show marketing remark (450 chars)

    Welcome to your serene sanctuary, nestled among majestic pine trees in a prime location that perfectly balances tranquility and accessibility. This delightful furnished home is more than just a house; it's a lifestyle waiting to be embraced. With essential amenities just a stone's throw away, you have the best of both worlds--nature and convenience. Nearby hiking trails, and local shops provide endless opportunities for adventure and exploration.

20. 2025-12-12
    historical $1,700
21. 2025-11-11
    listed $1,700
22. 2023-06-23
    soldstatus Closed 533-char remark

    Show marketing remark (533 chars)

    133A Cedar Pl is a 1998 construction, 3 bedroom, 2 bath, singlewide manufactured home. 1,280 square feet. Enter into front door into living room. Guest rooms with guest hall bath to the right. Kitchen with back laundry closet and door to back deck with ramp, to the left of living room. Master bedroom off kitchen with full en-suite bath. Separate double vanity. Metal roof. Central Heat and AC. 2 storage sheds. Public water and sewer, natural gas, and electric connected. Level lot. Close to Albertsons Grocery and National Forest.

23. 2023-05-14
    listed $170,000 Active 533-char remark

    Show marketing remark (533 chars)

    133A Cedar Pl is a 1998 construction, 3 bedroom, 2 bath, singlewide manufactured home. 1,280 square feet. Enter into front door into living room. Guest rooms with guest hall bath to the right. Kitchen with back laundry closet and door to back deck with ramp, to the left of living room. Master bedroom off kitchen with full en-suite bath. Separate double vanity. Metal roof. Central Heat and AC. 2 storage sheds. Public water and sewer, natural gas, and electric connected. Level lot. Close to Albertsons Grocery and National Forest.

ⓘ 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 8/10 Severe
• 🌡 Heat 1/10 Low 8 d/yr ≥86°F today · 24 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,851
• − Mortgage interest: −$10,827
• − Property taxes: −$2,899
• − Insurance: −$966
• − Repairs & maintenance: −$2,228
• − Management: −$2,228
• − Depreciation: −$5,623
• Taxable income: $3,080
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $5,235/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and updates to improve its condition and increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate exterior siding — visible wear and tear
• Moderate interior walls — light paint with some discoloration
• Moderate landscaping — simple landscaping with some overgrowth

Value-add opportunities

• Both update kitchen cabinets and fixtures — modernizing the kitchen will appeal to both buyers and renters
• Both replace bathroom fixtures and flooring — modernizing the bathrooms will appeal to both buyers and renters
• Both repair and paint exterior siding — improving the exterior will enhance curb appeal and value
• Both landscape the yard — a well-maintained yard will enhance curb appeal and attract potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · visible wear and tear	Moderate	$3,000–15,000
interior walls · light paint with some discoloration	Moderate	$3,000–15,000
landscaping · simple landscaping with some overgrowth	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both update kitchen cabinets and fixtures — modernizing the kitchen will appeal to both buyers and renters ↑
• Both replace bathroom fixtures and flooring — modernizing the bathrooms will appeal to both buyers and renters ↑
• Both repair and paint exterior siding — improving the exterior will enhance curb appeal and value ↑
• Both landscape the yard — a well-maintained yard will enhance curb appeal and attract potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ruidoso Municipal Schools
• NCES district ID: 3502310
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $44,094
• Composite: 31.68/100
• National rank: #5925
• State rank: #14 of 29 in NM

Livability — Ruidoso

• Score: 66/100
• State rank: #40
• US rank: #11996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruidoso, NM
• County: Lincoln County · 7,835 people
• City population: 7,835
• Metro: Ruidoso, NM
• Population (ZIP): 7,835
• Household income: $53,971
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 156.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 14% Native American 1% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 4% Slovak 3% Danish 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 81% English-only · Spanish 17%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.17%
• Current HPI: 141.9549
• Rent YoY: —
• Metro: Ruidoso, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+13.7% since first listed

7 events — show timeline

• 2026-05-04 Price Changed $193,280 RLCAR
• 2026-03-11 Price Changed $224,000 RLCAR
• 2025-12-27 Listed $229,999 RLCAR
• 2025-12-12 Rental Removed $1,700 APPFOLIO
• 2025-11-11 Listed for Rent $1,700 APPFOLIO
• 2023-06-23 Sold (MLS) — RLCAR
• 2023-05-14 Listed $170,000 RLCAR