103 Catron Unit 55A · Santa Fe, NM 87501

$45,000

2 bd · 2.0 ba · 1,169 sqft · Condo public records · 42 Days on market

Built 2006 $783/mo HOA · 30% of rent

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience effortless ownership in the heart of Santa Fe with this deeded fractional residence just moments from the historic Plaza. Unlike a timeshare, this offering provides true ownership with four guaranteed weeks each year and opportunities for additional stays based on availability. Enjoy walkable access to renowned dining, galleries, boutiques, and cultural attractions while returning to the comfort of luxury amenities and personalized concierge service. Ownership also includes access to travel exchange opportunities through the Hyatt Vacation Club and Registry Collection. With minimal upkeep and flexible use, this is an ideal retreat for those seeking the Santa Fe lifestyle without

Key facts

• Luxury amenities
• Walkable access
• Parking

Tags

• DEEDED FRACTIONAL RESIDENCE
• WALKABLE ACCESS
• LUXURY AMENITIES
• PERSONALIZED CONCIERGE SERVICE
• TRAVEL EXCHANGE OPPORTUNITIES

Property features AI

Finance

• Financial info: Property is for sale
• HOA & community: Homeowners association with quarterly fee of $2,350; HOA covers common areas, insurance, structure maintenance, recreation facilities, road maintenance, security, taxes, and water; Community amenities include clubhouse, gated access, barbecue, recreation facilities, and cable TV

Exterior

• Parking: 1 parking space
• Security: Gated community (security gate)
• Utilities: High-speed internet available; Electricity available; Public water; Public sewer
• Home design: Flat roof; Frame and stucco construction
• Construction: Assessor-reported year built source
• Exterior features: Security gate

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central refrigerated air conditioning
• Interior features: Interior steps; Not ADA compliant

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $45k.

Deal economics

• At list price, monthly cash flow is $959 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.9% vs local median 2.4% in Santa Fe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#9 in NM, #4,641 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F.
• Santa Fe Public Schools (urban): math 34% / reading 70% proficiency, ranked #6 of 29 in NM (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 235 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 244 units permitted in Santa Fe County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 5.78% ✓
• Cap rate: 31.87%
• Cash-on-cash: 91.34%
• DSCR: 5.06
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 91.8%
• Equity multiple: 5.24×
• Total profit: $53,400
• Equity at exit: $6,710

10-year hold

• IRR: 94.6%
• Equity multiple: 10.81×
• Total profit: $123,552
• Equity at exit: $3,891

Cash invested: $12,600 (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 87501

• Rents YoY: 2.6%
• Active inventory: 235
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $2,599 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$783
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $959

Break-even live

Break-even rent $1,385

Max offer price $45,000

Occupancy floor 58%

Sensitivity live

Price	-10% $990	-5% $975	+0% $959	+5% $944	+10% $928
Rent	-10% $754	-5% $856	+0% $959	+5% $1,062	+10% $1,164
Rate	-1.0pp $982	-0.5pp $971	base $959	+0.5pp $947	+1.0pp $936

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 Sandia St Santa Fe, NM	2.0	1.0	720	$2,900	$4.03	45d	1	0.23mi
602 Griffin St Santa Fe, NM	2.0	2.0	1500	$3,500	$2.33	45d	1	0.29mi
101 Williams St Unit A Santa Fe, NM	2.0	2.0	1314	$3,500	$2.66	45d	1	0.51mi
602 Agua Fria St Santa Fe, NM	2.0	1.5	1300	$2,950	$2.27	45d	1	0.61mi
231 W Manhattan Ave Unit A Santa Fe, NM	2.0	2.0	1250	$3,500	$2.80	45d	1	0.67mi
125 Martinez St Santa Fe, NM	1.0	1.0	963	$1,795	$1.86	45d	1	0.70mi
235 Irvine St Unit Main Santa Fe, NM	1.0	1.0	850	$2,500	$2.94	22d	1	0.74mi
1433 Paseo de Peralta Santa Fe, NM	2.0	1.0	1200	$2,300	$1.92	45d	1	0.79mi
739 Montez Pl Santa Fe, NM	1.0	1.0	700	$1,675	$2.39	45d	1	0.85mi
216 Miramonte St Santa Fe, NM	3.0	1.5	1300	$2,850	$2.19	45d	1	0.86mi
941 Calle Mejia #105 Santa Fe, NM	2.0	2.0	848	$1,600	$1.89	22d	1	0.94mi
1250 Avenida Morelia #101 Santa Fe, NM	1.0	1.0	1024	$2,300	$2.25	45d	1	0.96mi
825 Calle Mejia Santa Fe, NM	2.0	1.0–2.0	947	$2,199	$2.32	22d	5	0.97mi
701 Camino de la Familia Santa Fe, NM	1.0	2.0	1408	$3,375	$2.40	22d	1	0.98mi
945 Agua Fria St Unit B Santa Fe, NM	1.0	1.0	1100	$2,250	$2.05	45d	1	1.05mi
909 Don Gaspar Ave Santa Fe, NM	2.0	1.0	1000	$2,500	$2.50	22d	1	1.11mi
537 Kathryn Ave Unit C Santa Fe, NM	1.0	1.0	1174	$1,805	$1.54	45d	1	1.17mi
406 Cortez Pl Santa Fe, NM	3.0	2.0	1450	$2,650	$1.83	45d	1	1.19mi
295 Lomita St Unit 2 Santa Fe, NM	1.0	1.0	750	$1,600	$2.13	45d	1	1.24mi
950 W Cordova Rd Santa Fe, NM	1.0–2.0	1.0–2.0	781	$2,562	$3.28	22d	7	1.46mi

HOA detail condo

• Monthly dues: $783 · $9,396/yr
• Likely covers: doorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-19
   days on market $45,000 Active 42 DOM
2. 2026-06-18
   days on market $45,000 Active 41 DOM
3. 2026-06-17
   days on market $45,000 Active 40 DOM
4. 2026-06-16
   days on market $45,000 Active 39 DOM
5. 2026-06-15
   days on market $45,000 Active 38 DOM
6. 2026-06-14
   days on market $45,000 Active 36 DOM
7. 2026-06-13
   days on market $45,000 Active 35 DOM
8. 2026-06-10
   days on market $45,000 Active 33 DOM
9. 2026-06-09
   days on market $45,000 Active 32 DOM
10. 2026-06-08
    days on market $45,000 Active 31 DOM
11. 2026-06-07
    days on market $45,000 Active 30 DOM
12. 2026-06-03
    days on market $45,000 Active 26 DOM
13. 2026-06-02
    days on market $45,000 Active 25 DOM
14. 2026-06-01
    days on market $45,000 Active 24 DOM
15. 2026-05-31
    days on market $45,000 Active 23 DOM
16. 2026-05-30
    days on market $45,000 Active 22 DOM
17. 2026-05-07
    listed $45,000 Active 743-char remark
18. 2024-08-13
    soldstatus

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 8 d/yr ≥87°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,186
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$2,495
• − Management: −$2,495
• − HOA: −$9,396
• − Depreciation: −$1,309
• Taxable income: $12,070
• Est. tax owed @ 24.0%: −$2,897
• After-tax cash flow: $8,612/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: Santa Fe Public Schools
• NCES district ID: 3502370
• Math proficiency: 34% ▲ 16.00%
• Reading proficiency: 70% ▲ 40.00%
• Median HH income: $55,031
• Composite: 44.78/100
• National rank: #2744
• State rank: #6 of 29 in NM

Livability — Santa Fe

• Score: 74/100
• State rank: #9
• US rank: #4641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Fe, NM
• County: Santa Fe County · 118,003 people
• City population: 118,003
• Metro: Santa Fe, NM
• Population (ZIP): 16,007
• Household income: $79,603
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 905.0

Population outlook (Santa Fe County) Hauer SSP2

• Today (2025): 156,674 people
• By 2030: 159,422 · +1.8%
• By 2040: 160,891 · +2.7%
• By 2050: 159,966 · +2.1%
• By 2075: 161,318 · +3.0%
• By 2100: 157,302 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 15% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 12% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Santa Fe

• 2024 margin: Solid D (+48.9) · D 73.3% · R 24.4% · Other 2.2%
• 2008→2024 swing: -6.1pp toward R · 2008: 55.0pp · 2024: 48.9pp
• All cycles: 2024: D+48.9 2020: D+53.8 2016: D+51.0 2012: D+51.0 2008: D+55.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -595.93%
• Current HPI: 250.8292
• Rent YoY: ▲ 2.65%
• Metro: Santa Fe, NM
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-07 Listed $45,000 Santa Fe MLS
• 2024-08-13 Sold (Public Records) — Public Records

Property tax history

-0.0%/yr

Latest (2025): $3,682 · +2.6% YoY. Source: county tax records.