124 Turquoise Trl

Valle Vista, NM 87508

$465,000D

4 bd · 2.0 ba · 2,080 sqft · Built 2000 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,056/mo
• Mortgage (P&I): −$2,439
• Tax + insurance: −$297
• HOA: −$0
• Vac / Maint / Mgmt: −$642
• Net cashflow: $-322/mo
• Annual: $-3,866/yr
• Cap rate: 5.46%
• Cash-on-cash: -2.97%
• DSCR: 0.87
• 1% rule: 0.66%
• Cash to close: $130,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $465k.
• At list price, monthly cash flow is $-322 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $408k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $306k (34.3% below list).
• It's been on market 68 days — a 6% lower offer ($437k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $306k (34.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 195 active listings in the ZIP; solid renter incomes; 244 units permitted in Santa Fe County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts 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.
• This rent runs 36% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 68 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.
• 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.