1105 Marshall Ave · Tularosa, NM 88352

$192,300

3 bd · 2.0 ba · 1,437 sqft · SingleFamily public records · 178 Days on market

Built 1952 6,534 sqft lot $134/sqft · 27% below area Est $266k · 28% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.8/30.0
• Livability +3.3/5.0
• Appreciation +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +1.9/10.0
• 1% rule +1.2/10.0

Listing remarks MLS

What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

Key facts

• Beautiful fireplace
• Walk-in closet
• Updated kitchen

Tags

• OPEN-CONCEPT LIVING AREA
• BEAUTIFUL FIREPLACE
• UPDATED KITCHEN
• STAINLESS-STEEL APPLIANCES
• AMPLE CABINET SPACE
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (38.3% below list).
• Recommended offer: $119k (38.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#43 in NM) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tularosa Municipal Schools (town): math 11% / reading 48% proficiency, ranked #17 of 29 in NM (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tularosa Intermediate (math 12% / reading 47%, grade F, #55 of 68 statewide, top 82%, 268 students, 92% FRL); Tularosa Middle (math 8% / reading 52%, grade F, #12 of 27 statewide, top 50%, 144 students, 92% FRL); Tularosa High (math 10% / reading 30%, grade F, #98 of 110 statewide, top 94%, 272 students, 95% FRL) — zoned schools at 93% FRL track the district average.
• Market conditions: 69 active listings in the ZIP; 6 units permitted in Otero 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 $6k of value loss. Plan a longer hold.
• Otero County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,634 (38.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.62% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.78%
• DSCR: 0.79
• GRM: 13.5

CMA / ARV

• ARV (median comp): $265,891
• List price: $192,300
• Delta: -27.68%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.5%
• Equity multiple: 0.17×
• Total profit: $-44,906
• Equity at exit: $28,673

10-year hold

• IRR: -20.2%
• Equity multiple: -0.06×
• Total profit: $-57,056
• Equity at exit: $16,627

Cash invested: $53,844 (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 88352

• Home prices YoY: -2.3%
• Active inventory: 69
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $1,186 medium
• Mortgage (P&I): −$1,008
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-214

Break-even live

Break-even rent $1,458

Max offer price $154,428

Occupancy floor —

Sensitivity live

Price	-10% $-106	-5% $-160	+0% $-214	+5% $-269	+10% $-323
Rent	-10% $-308	-5% $-261	+0% $-214	+5% $-168	+10% $-121
Rate	-1.0pp $-118	-0.5pp $-165	base $-214	+0.5pp $-264	+1.0pp $-315

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: $48,075
• Closing costs: $5,769
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $192,300 Active 178 DOM
2. 2026-06-18
   days on market $192,300 Active 177 DOM
3. 2026-06-17
   days on market $192,300 Active 176 DOM
4. 2026-06-16
   days on market $192,300 Active 175 DOM
5. 2026-06-15
   days on market $192,300 Active 174 DOM
6. 2026-06-14
   days on market $192,300 Active 172 DOM
7. 2026-06-12
   days on market $192,300 Active 171 DOM
8. 2026-06-09
   days on market $192,300 Active 168 DOM
9. 2026-06-08
   days on market $192,300 Active 167 DOM
10. 2026-06-07
    days on market $192,300 Active 166 DOM
11. 2026-06-02
    days on market $192,300 Active 161 DOM
12. 2026-06-01
    days on market $192,300 Active 160 DOM
13. 2026-05-31
    days on market $192,300 Active 159 DOM
14. 2026-05-30
    days on market $192,300 Active 158 DOM
15. 2026-02-24
    status Active 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

16. 2025-12-08
    status Pending 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

17. 2025-10-29
    status Active 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

18. 2025-09-18
    status Pending 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

19. 2025-09-05
    status Active 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

20. 2025-06-19
    status Pending 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

21. 2025-06-09
    listed $192,300 Active 904-char remark

    Show marketing remark (904 chars)

    What a charming Tularosa, NM gem! This delightful 4-bedroom, 2-bath home blends classic Southwestern character with modern comforts. Step into an inviting open-concept living area featuring a beautiful fireplace—perfect for relaxing evenings. The updated kitchen shines with stainless-steel appliances and ample cabinet space. The primary suite is a peaceful retreat, boasting a generous walk-in closet and personal bathroom. Outside, enjoy a large, fenced backyard ideal for entertaining or gardening, complete with a covered patio. The front yard is green and beautiful, you won't believe it's in the desert! The additional RV/boat parking is a huge bonus. Let's not forget about the NEW plumbing, NEW counter tops, NEW Appliances, NEW fans, NEW light fixtures, NEW wall heater, and did I mention there is a lot of NEW things in this house? Don't miss the opportunity to make this your new home!

22. 2022-07-08
    soldstatus 496-char remark

    Show marketing remark (496 chars)

    A charming home that has been entirely rejuvenated in the heart of Tularosa! This home includes three traditional bedrooms, one with adjoining room that could be used as an office, hobby room or bedroom. It is a source of incredible New Mexico light throughout. ThisSouthwestern style home features adobe and brick exterior also has a large backyard with a separate garden area with a shade tree! Brand new stainless steel appliances, wood burning fireplace, huge laundry room and RV parking too!

23. 2020-06-26
    soldstatus
24. 2019-05-08
    listed $99,000 496-char remark

    Show marketing remark (496 chars)

    A charming home that has been entirely rejuvenated in the heart of Tularosa! This home includes three traditional bedrooms, one with adjoining room that could be used as an office, hobby room or bedroom. It is a source of incredible New Mexico light throughout. ThisSouthwestern style home features adobe and brick exterior also has a large backyard with a separate garden area with a shade tree! Brand new stainless steel appliances, wood burning fireplace, huge laundry room and RV parking too!

ⓘ 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: $756 · $63/mo
• Projected year-2 tax: $1,538 · $128/mo
• Expected delta: +$782/yr (+$65/mo · 103.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 23 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: $14,236
• − Mortgage interest: −$10,772
• − Property taxes: −$756
• − Insurance: −$962
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$5,594
• Taxable loss: −$6,125
• Est. tax savings @ 24.0%: +$1,470
• After-tax cash flow: $-1,102/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: Tularosa Municipal Schools
• NCES district ID: 3502670
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 48% ▲ 16.00%
• Median HH income: $34,909
• Composite: 24.19/100
• National rank: #7736
• State rank: #17 of 29 in NM

Livability — Tularosa

• Score: 66/100
• State rank: #43
• US rank: #12240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tularosa, NM
• Population (ZIP): 4,211

Population outlook (Otero County) Hauer SSP2

• Today (2025): 62,967 people
• By 2030: 62,164 · -1.3%
• By 2040: 60,253 · -4.3%
• By 2050: 58,575 · -7.0%
• By 2075: 55,411 · -12.0%
• By 2100: 48,551 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 51% White 38% Two or more races 29% Native American 5%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 2% Scottish 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+27.0) · D 35.4% · R 62.4% · Other 2.2%
• 2008→2024 swing: -7.7pp toward R · 2008: -19.3pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+25.6 2016: R+29.1 2012: R+28.0 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.47%
• Current HPI: 189.6639
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+94.2% since first listed

10 events — show timeline

• 2026-02-24 Relisted — OCAOR
• 2025-12-08 Pending — OCAOR
• 2025-10-29 Relisted — OCAOR
• 2025-09-18 Pending — OCAOR
• 2025-09-05 Relisted — OCAOR
• 2025-06-19 Pending — OCAOR
• 2025-06-09 Listed $192,300 OCAOR
• 2022-07-08 Sold (MLS) — OCAOR
• 2020-06-26 Sold (Public Records) — Public Records
• 2019-05-08 Listed $99,000 OCAOR

Property tax history

+7.1%/yr

Latest (2025): $756 · +3.6% YoY. Source: county tax records.