694 E North Boundary

Columbus, NM 88029

$69,950B

2 bd · 1.0 ba · 1,252 sqft · Built 1950 · SingleFamily · Active · 232 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,042/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $215/mo
• Annual: $2,579/yr
• Cap rate: 12.13%
• Cash-on-cash: 20.84%
• DSCR: 1.93
• 1% rule: 1.49%
• Cash to close: $19,586

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated fair.
• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 232 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 60/100 on livability (#118 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, schools F.
• Deming Public Schools (town): math 18% / reading 27% proficiency, ranked #63 of 95 in NM (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $125/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 7 units permitted in Luna County in 2024 (0 in 5+ unit buildings).
• Luna County population projected at -15% 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 ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% 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?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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)

• Major: tile flooring in kitchen and bath — cracks and wear
• Major: paint on interior walls — peeling and chipping
• Major: landscaping and curb appeal — fenced yard with no landscaping