1030 Nm 119

Llano del Medio, NM 87724

$135,000D

3 bd · 2.0 ba · 1,280 sqft · Built 1994 · Manufactured · Active · 527 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,154/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-21/mo
• Annual: $-255/yr
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated fair.
• At list price, monthly cash flow is $-21 ($-255/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (14.5% below list).
• It's been on market 527 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (14.5% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 35/100 on livability (#420 in NM) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Santa Rosa Consolidated Schools (town): math 25% / reading 25% proficiency, ranked #28 of 29 in NM (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 91% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 3 active listings in the ZIP.
• Guadalupe County population projected at -29% 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 527 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: bathroom fixtures — outdated and possibly leaking
• Moderate: exterior siding — moderate wear and tear
• Moderate: interior walls — wallpaper in need of replacement
• Moderate: windows — old and possibly inefficient