708 S 1st St · Raton, NM 87740

$38,000

1 bd · 1.0 ba · 717 sqft · Other · 123 Days on market

Built 1920 3,500 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with strong upside potential! This 1-bedroom, 1-bath handyman property is the perfect opportunity for investors or savvy buyers looking to add value. With some TLC and vision, this home could be transformed into a charming short-term rental, Airbnb, or long-term income-producing property. Located within walking distance to downtown Raton, the property offers excellent rental appeal with close proximity to the train station, coffee shops, dining, and local amenities. The prime location enhances both short-term and long-term rental demand. Whether you’re looking for your next renovation project or an affordable entry into the investment market, this property presents a solid opportunity to build equity and maximize returns.

Key facts

• Short term rental
• Rental appeal
• Local amenities

Tags

• HANDYMAN PROPERTY
• SHORT TERM RENTAL
• WALKING DISTANCE TO DOWNTOWN
• LOCAL AMENITIES
• RENTAL APPEAL
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $38k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($892 rent vs $38k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#23 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Raton Public Schools (town): math 14% / reading 24% proficiency, ranked #71 of 95 in NM (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 65 active listings in the ZIP; 2 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Colfax County population projected at -39% 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 2.35% ✓
• Cap rate: 21.00%
• Cash-on-cash: 52.52%
• DSCR: 3.34
• GRM: 3.5

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: 50.5%
• Equity multiple: 3.21×
• Total profit: $23,500
• Equity at exit: $5,666

10-year hold

• IRR: 55.9%
• Equity multiple: 6.51×
• Total profit: $58,649
• Equity at exit: $3,286

Cash invested: $10,640 (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 87740

• Active inventory: 65
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $892 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$24 /mo · $289/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $466

Break-even live

Break-even rent $303

Max offer price $38,000

Occupancy floor 43%

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 S 4th St Unit 5 Raton, NM	1.0	1.0	500	$850	$1.70	43d	1	0.50mi
704 Nevada Ave Apt 7 Raton, NM	2.0	1.0	700	$950	$1.36	43d	1	0.96mi

Listing history 5 events

1. 2026-03-24
   price $38,000 754-char remark

   Show marketing remark (754 chars)

   Investor special with strong upside potential! This 1-bedroom, 1-bath handyman property is the perfect opportunity for investors or savvy buyers looking to add value. With some TLC and vision, this home could be transformed into a charming short-term rental, Airbnb, or long-term income-producing property. Located within walking distance to downtown Raton, the property offers excellent rental appeal with close proximity to the train station, coffee shops, dining, and local amenities. The prime location enhances both short-term and long-term rental demand. Whether you’re looking for your next renovation project or an affordable entry into the investment market, this property presents a solid opportunity to build equity and maximize returns.

2. 2026-01-20
   listed $40,000 Active 754-char remark

   Show marketing remark (754 chars)

   Investor special with strong upside potential! This 1-bedroom, 1-bath handyman property is the perfect opportunity for investors or savvy buyers looking to add value. With some TLC and vision, this home could be transformed into a charming short-term rental, Airbnb, or long-term income-producing property. Located within walking distance to downtown Raton, the property offers excellent rental appeal with close proximity to the train station, coffee shops, dining, and local amenities. The prime location enhances both short-term and long-term rental demand. Whether you’re looking for your next renovation project or an affordable entry into the investment market, this property presents a solid opportunity to build equity and maximize returns.

3. 2019-11-14
   soldstatus 240-char remark

   Show marketing remark (240 chars)

   Great investment opportunity! One bedroom home with fenced yard close to downtown Raton! Walking distance to library, gas stations, parks , coffee shop and more! With a little tlc this would make a great rental property! Call today to view.

4. 2019-11-13
   soldstatus
5. 2019-10-19
   listed $18,900 240-char remark

   Show marketing remark (240 chars)

   Great investment opportunity! One bedroom home with fenced yard close to downtown Raton! Walking distance to library, gas stations, parks , coffee shop and more! With a little tlc this would make a great rental property! Call today to view.

ⓘ 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: $289 · $24/mo
• Projected year-2 tax: $304 · $25/mo
• Expected delta: +$15/yr (+$1/mo · 5.1%)

ⓘ 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 7/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥89°F today · 26 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,707
• − Mortgage interest: −$2,129
• − Property taxes: −$289
• − Insurance: −$190
• − Repairs & maintenance: −$857
• − Management: −$857
• − Depreciation: −$1,105
• Taxable income: $5,281
• Est. tax owed @ 24.0%: −$1,267
• After-tax cash flow: $4,321/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: Raton Public Schools
• NCES district ID: 3502190
• Math proficiency: 14% —
• Reading proficiency: 24% —
• Median HH income: $33,774
• Composite: 18.8/100
• National rank: #13993
• State rank: #71 of 95 in NM

Livability — Raton

• Score: 69/100
• State rank: #23
• US rank: #8557

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raton, NM
• Population (ZIP): 7,055

Population outlook (Colfax County) Hauer SSP2

• Today (2025): 10,260 people
• By 2030: 9,240 · -9.9%
• By 2040: 7,474 · -27.2%
• By 2050: 6,285 · -38.7%
• By 2075: 5,109 · -50.2%
• By 2100: 4,684 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (52%)
• Race & ethnicity: Hispanic / Latino 52% White 44% Two or more races 21% Native American 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Italian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 83% English-only · Spanish 14%

Political lean MEDSL · Colfax

• 2024 margin: R (+14.0) · D 41.9% · R 55.9% · Other 2.1%
• 2008→2024 swing: -24.8pp toward R · 2008: 10.7pp · 2024: -14.0pp
• All cycles: 2024: R+14.0 2020: R+11.0 2016: R+8.6 2012: D+2.0 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.47%
• Current HPI: 133.0875
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+101.1% since first listed

5 events — show timeline

• 2026-03-24 Price Changed $38,000 NMMLS
• 2026-01-20 Listed $40,000 NMMLS
• 2019-11-14 Sold (MLS) — NMMLS
• 2019-11-13 Sold (Public Records) — Public Records
• 2019-10-19 Listed $18,900 NMMLS

Property tax history

+3.1%/yr

Latest (2025): $289 · +1.3% YoY. Source: county tax records.