403 State Highway 3 · Encino, NM 88321

$70,000

3 bd · 2.0 ba · 1,822 sqft · SingleFamily · 7 Days on market

Built 1950 5.25 ac lot ↓ 11% since listing

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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
• Appreciation +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

5.25 Acre property with lots of outbuildings for your homestead. Large two story home with upstairs suite including full bath and kitchen. Large living room with fireplace makes this a cozy area to relax in the evenings. Basement for storage and canning and a nice indoor workshop. This property has set vacant for a few years and needs some TLC. Property sold as is. Great investment property or come out to the rural SW and homestead. Property has community water, septic, and propane. Prices to sell fast!

Key facts

• 5.25 acre lot
• Built 1950
• Listed 7 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).

Location & tenants

• Location reads 53/100 on livability (#242 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: employment C-, schools D, crime F.
• Vaughn Municipal Schools (rural): math 0% / reading 20% proficiency, ranked #87 of 95 in NM (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.0% local appreciation)).
• Torrance 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.96% ✓
• Cap rate: 16.57%
• Cash-on-cash: 36.69%
• DSCR: 2.63
• GRM: 4.3

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: 42.3%
• Equity multiple: 3.38×
• Total profit: $46,624
• Equity at exit: $31,475

10-year hold

• IRR: 42.2%
• Equity multiple: 6.74×
• Total profit: $112,522
• Equity at exit: $48,507

Cash invested: $19,600 (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 88321

• Active inventory: 1
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $599

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 51%

Sensitivity live

Price	-10% $648	-5% $624	+0% $599	+5% $575	+10% $551
Rent	-10% $491	-5% $545	+0% $599	+5% $653	+10% $708
Rate	-1.0pp $635	-0.5pp $617	base $599	+0.5pp $581	+1.0pp $563

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2024-03-15
   status Pending
2. 2024-03-08
   listed $70,000 Active
3. 2017-12-12
   price $74,963
4. 2017-04-01
   price $79,000

ⓘ 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 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 19 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: $16,452
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$2,036
• Taxable income: $6,462
• Est. tax owed @ 24.0%: −$1,551
• After-tax cash flow: $5,641/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: Vaughn Municipal Schools
• NCES district ID: 3500001
• Math proficiency: 0% —
• Reading proficiency: 20% —
• Median HH income: $28,450
• Composite: 11.18/100
• National rank: #14631
• State rank: #87 of 95 in NM

Livability — Encino

• Score: 53/100
• State rank: #242
• US rank: #24431

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Encino, NM
• Population (ZIP): 430

Population outlook (Torrance County) Hauer SSP2

• Today (2025): 13,807 people
• By 2030: 12,946 · -6.2%
• By 2040: 11,214 · -18.8%
• By 2050: 9,802 · -29.0%
• By 2075: 7,634 · -44.7%
• By 2100: 5,637 · -59.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 2%
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Torrance

• 2024 margin: Solid R (+38.1) · D 29.9% · R 68.0% · Other 2.2%
• 2008→2024 swing: -28.8pp toward R · 2008: -9.3pp · 2024: -38.1pp
• All cycles: 2024: R+38.1 2020: R+33.4 2016: R+30.8 2012: R+17.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-11.4% since first listed

4 events — show timeline

• 2024-03-15 Pending — Southwest MLS
• 2024-03-08 Listed $70,000 Southwest MLS
• 2017-12-12 Price Changed $74,963 Southwest MLS
• 2017-04-01 Price Changed $79,000 Southwest MLS