1209 S Locust St · Las Cruces, NM 88001

$109,900

2 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 131 Days on market

Built 1958 8,032 sqft lot $108/sqft · 13% below area Est $126k · 13% under ↓ 12% since listing

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Why this score? — see what drove the C+ 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 +21.9/30.0
• ARV discount +13.3/15.0
• DSCR +7.0/10.0
• 1% rule +4.9/10.0
• Schools +4.6/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! This centrally located 2-bedroom, 2-bath property offers 1,022 square feet and was built in 1958. With refurbishment, it has strong potential as a rental or student housing investment. Convenient location adds to long-term demand. Schedule a showing to evaluate the possibilities--contact your broker for additional details. Some photos are virtually staged.

Key facts

• 8,032 sq ft lot
• Built 1958
• Listed 131 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (0.7% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#120 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities D+, schools D-, crime F.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 143 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($33k/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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 1958 — 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 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. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

• ARV (median comp): $126,143
• List price: $109,900
• Delta: -12.88%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-6,261
• Equity at exit: $16,386

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $10,758
• Equity at exit: $9,502

Cash invested: $30,772 (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 88001

• Rents YoY: 3.5%
• Active inventory: 143
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,091 high
• Mortgage (P&I): −$576
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $174

Break-even live

Break-even rent $871

Max offer price $109,900

Occupancy floor 79%

Sensitivity live

Price	-10% $236	-5% $205	+0% $174	+5% $143	+10% $112
Rent	-10% $88	-5% $131	+0% $174	+5% $217	+10% $260
Rate	-1.0pp $229	-0.5pp $202	base $174	+0.5pp $145	+1.0pp $117

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1345 Branson Ave Las Cruces, NM	2.0	2.0	1199	$1,165	$0.97	21d	2	0.43mi
1345 Branson Ave Las Cruces, NM	2.0–3.0	2.0–2.5	1416	$1,050	$0.74	44d	2	0.43mi
2324 E Idaho Ave Las Cruces, NM	3.0	2.0	1241	$1,325	$1.07	44d	1	0.44mi
1815 Boston Dr Las Cruces, NM	3.0	1.5	980	$1,195	$1.22	44d	1	0.45mi
1400 S Espina St Las Cruces, NM	2.0	1.0	720	$795	$1.10	44d	1	0.58mi
1875 Rentfrow Ave Unit C Las Cruces, NM	1.0	1.0	913	$900	$0.99	44d	1	0.67mi
917 Branson Ave Las Cruces, NM	2.0	1.0	750	$750	$1.00	44d	1	0.68mi
905 Branson Ave Unit B Las Cruces, NM	2.0	1.0	750	$750	$1.00	44d	1	0.68mi
905 Branson Ave Las Cruces, NM	2.0	1.0	750	$750	$1.00	21d	1	0.69mi
1020 S Triviz Dr Apt 101 Las Cruces, NM	2.0	2.0	1000	$895	$0.90	45d	1	0.71mi
518 E Boutz Rd Unit B Las Cruces, NM	2.0	1.0	864	$850	$0.98	44d	1	0.78mi
2300 Kent Rd Las Cruces, NM	3.0	1.5	1200	$1,100	$0.92	44d	1	0.88mi
2306 S Espina St Las Cruces, NM	1.0–2.0	1.0–2.0	744	$975	$1.31	14d	7	0.98mi
204 N Virginia St Las Cruces, NM	2.0	1.0	876	$1,250	$1.43	44d	1	1.11mi
1255 E University Ave Las Cruces, NM	2.0	1.0	900	$995	$1.11	44d	1	1.12mi
2060 S Triviz Dr Las Cruces, NM	2.0	2.0	1000	$1,162	$1.16	44d	4	1.13mi
2050 E Wisconsin Ave Las Cruces, NM	1.0–2.0	1.0–2.0	893	$1,530	$1.71	14d	17	1.14mi
290 Montana Ave Las Cruces, NM	1.0–2.0	1.0–2.0	831	$1,425	$1.71	14d	2	1.14mi
290 Montana Ave Unit 402 Las Cruces, NM	2.0	2.0	1030	$1,425	$1.38	44d	1	1.14mi
2930 Claude Dove Dr Las Cruces, NM	2.0	1.5	950	$1,200	$1.26	44d	1	1.17mi
2908 Valle Vis Las Cruces, NM	2.0	2.0	952	$1,395	$1.47	44d	1	1.19mi
3000 Majestic Rdg Unit 70 Las Cruces, NM	2.0	2.0	957	$1,015	$1.06	21d	1	1.23mi
3000 Majestic Rdg Unit 59 Las Cruces, NM	2.0	2.0	957	$1,015	$1.06	44d	1	1.23mi
3000 Majestic Rdg Unit 18 Las Cruces, NM	2.0	1.0	861	$970	$1.13	14d	1	1.23mi
3000 Majestic Rdg Unit 42 Las Cruces, NM	2.0	1.0	861	$970	$1.13	21d	1	1.25mi
950 Mormon Dr Unit mslB-2 Las Cruces, NM	2.0	1.0	735	$895	$1.22	21d	1	1.27mi
1980 Buchanan Ave Las Cruces, NM	3.0	2.0	1162	$1,800	$1.55	21d	1	1.30mi
251 Desert Rose Ct Unit B3 Las Cruces, NM	2.0	1.0	865	$895	$1.03	44d	1	1.34mi
3043 Hillrise Dr Las Cruces, NM	2.0	2.0	1359	$1,550	$1.14	21d	1	1.35mi
1914 Sheryl Way Las Cruces, NM	2.0	2.0	856	$1,400	$1.64	14d	1	1.37mi
2190 Bex St Unit 4 Las Cruces, NM	2.0	2.0	800	$825	$1.03	44d	1	1.39mi
3109 Las Placitas Rd Las Cruces, NM	2.0	2.0	1217	$1,595	$1.31	44d	1	1.39mi
3113 Las Placitas Rd Las Cruces, NM	2.0	2.0	1182	$1,600	$1.35	44d	1	1.40mi
3193 Athenian Way Las Cruces, NM	3.0	3.0	1459	$1,800	$1.23	44d	1	1.43mi
1000 Coyote Trl Las Cruces, NM	3.0	2.0	1280	$1,524	$1.19	14d	1	1.49mi

Listing history 16 events

1. 2026-06-15
   status $109,900 Pending 131 DOM
2. 2026-06-15
   days on market $109,900 Active 131 DOM
3. 2026-06-14
   days on market $109,900 Active 129 DOM
4. 2026-06-13
   days on market $109,900 Active 128 DOM
5. 2026-06-10
   days on market $109,900 Active 126 DOM
6. 2026-06-09
   days on market $109,900 Active 125 DOM
7. 2026-06-08
   days on market $109,900 Active 124 DOM
8. 2026-06-07
   pricedays on market $109,900 Active 123 DOM
9. 2026-06-02
   days on market $114,900 Active 118 DOM
10. 2026-06-01
    days on market $114,900 Active 117 DOM
11. 2026-05-31
    days on market $114,900 Active 116 DOM
12. 2026-05-30
    days on market $114,900 Active 115 DOM
13. 2026-05-01
    price $114,900 380-char remark

    Show marketing remark (380 chars)

    Investor opportunity! This centrally located 2-bedroom, 2-bath property offers 1,022 square feet and was built in 1958. With refurbishment, it has strong potential as a rental or student housing investment. Convenient location adds to long-term demand. Schedule a showing to evaluate the possibilities--contact your broker for additional details. Some photos are virtually staged.

14. 2026-03-09
    price $124,900 380-char remark

    Show marketing remark (380 chars)

    Investor opportunity! This centrally located 2-bedroom, 2-bath property offers 1,022 square feet and was built in 1958. With refurbishment, it has strong potential as a rental or student housing investment. Convenient location adds to long-term demand. Schedule a showing to evaluate the possibilities--contact your broker for additional details. Some photos are virtually staged.

15. 2026-02-02
    listed $129,900 Active 380-char remark

    Show marketing remark (380 chars)

    Investor opportunity! This centrally located 2-bedroom, 2-bath property offers 1,022 square feet and was built in 1958. With refurbishment, it has strong potential as a rental or student housing investment. Convenient location adds to long-term demand. Schedule a showing to evaluate the possibilities--contact your broker for additional details. Some photos are virtually staged.

16. 2005-02-17
    soldstatus

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $879 · $73/mo
• Expected delta: +$88/yr (+$7/mo · 11.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 25 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: $13,093
• − Mortgage interest: −$6,156
• − Property taxes: −$791
• − Insurance: −$550
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$3,197
• Taxable income: $305
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,014/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: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Las Cruces

• Score: 59/100
• State rank: #120
• US rank: #19687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Cruces, NM
• County: Dona Ana County · 144,044 people
• City population: 131,421
• Metro: Las Cruces, NM
• Population (ZIP): 37,690
• Household income: $33,087
• Rent vs Own: 58.3% rent · 41.7% own
• Severe rent burden: 2590.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 24% White 21% Black 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Slovak 1% Italian 1% Romanian 1%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -239.44%
• Current HPI: 219.0404
• Rent YoY: ▲ 3.45%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-11.5% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $114,900 SNMMLS as distributed by MLS GRID
• 2026-03-09 Price Changed $124,900 SNMMLS as distributed by MLS GRID
• 2026-02-02 Listed $129,900 SNMMLS as distributed by MLS GRID
• 2005-02-17 Sold (Public Records) — Public Records

Property tax history

+2.7%/yr

Latest (2025): $791 · +2.7% YoY. Source: county tax records.