103 Catron Unit 61B · Santa Fe, NM 87501

$50,000

2 bd · 2.5 ba · 1,750 sqft · Timeshare · 365 Days on market

Built 2005 20 ac lot $912/mo HOA · 28% of rent ↓ 60% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own a Slice of Santa Fe—Affordable Luxury in the Heart of Downtown Here’s your opportunity to own a second home in Santa Fe—at a fraction of the cost. This 1/8 deeded fractional ownership at El Corazón de Santa Fe, a premier Five-Star gated residence just steps from the historic Plaza, offers the perfect blend of luxury, convenience, and value. Located in the heart of downtown, Unit 61 is a beautifully appointed Montana model, offering 1,750 square feet of thoughtfully designed living space. This recently remodeled two-story home features 2 bedrooms, 2.5 baths, a gourmet kitchen with premium appliances and cookware, and warm Santa Fe-style finishes including vigas, a kiva fireplace, and high-end furnishings. A private patio and balcony offer peaceful outdoor spaces to relax and enjoy the ambiance of the City Different. Ownership at El Corazón is effortless. As part of The Residence Club, everything is taken care of for you—housekeeping, linens, maintenance, landscaping, and 24-hour security—so you can simply arrive and enjoy. The unit is fully furnished, with interiors that are either brand new or recently refreshed. Enjoy flexible reservations within the Montana series and gain access to an impressive trio of international exchange programs: The Registry Collection, Hyatt Vacation Club, and Interval International, giving you the option to travel to luxury destinations worldwide. HOA fees cover everything from property taxes and insurance to utilities and upkeep. Whether you’re looking for a stress-free vacation home or a smart way to spend more time in Santa Fe, El Corazón de Santa Fe offers an exceptional lifestyle where tradition meets modern luxury, at a truly attainable price point.

Key facts

• Balcony
• Kiva fireplace
• Gourmet kitchen

Tags

• GATED RESIDENCE
• GOURMET KITCHEN
• KIVA FIREPLACE
• PRIVATE PATIO
• BALCONY
• 24 HOUR SECURITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath timeshare listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.5% vs local median 2.4% in Santa Fe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#9 in NM, #4,641 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F.
• 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: Rents rising (+2.6%/yr); 235 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 244 units permitted in Santa Fe County in 2024 (0 in 5+ unit buildings).
• At $3,238/mo this rent would consume 49% of the median local household income ($80k/yr) (locally 905% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 365 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $25k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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.
9. 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.
10. 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: 6.48% ✓
• Cap rate: 37.51%
• Cash-on-cash: 111.48%
• DSCR: 5.96
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.30×
• Total profit: $74,204
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 13.08×
• Total profit: $169,121
• Equity at exit: $4,323

Cash invested: $14,000 (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 87501

• Rents YoY: 2.6%
• Active inventory: 235
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $3,238 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$912
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $1,301

Break-even live

Break-even rent $1,592

Max offer price $50,000

Occupancy floor 55%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Staab St Santa Fe, NM	3.0	2.0	1800	$3,900	$2.17	21d	1	0.17mi
326 Staab St Unit NA Santa Fe, NM	3.0	2.0	1800	$3,900	$2.17	44d	1	0.17mi
602 Griffin St Santa Fe, NM	2.0	2.0	1500	$3,500	$2.33	44d	1	0.29mi
101 Williams St Unit A Santa Fe, NM	2.0	2.0	1314	$3,500	$2.66	44d	1	0.51mi
602 Agua Fria St Santa Fe, NM	2.0	1.5	1300	$2,950	$2.27	44d	1	0.61mi
231 W Manhattan Ave Unit A Santa Fe, NM	2.0	2.0	1250	$3,500	$2.80	44d	1	0.67mi
126 Fiesta St Santa Fe, NM	2.0	1.0	2094	$2,300	$1.10	21d	1	0.70mi
216 Miramonte St Santa Fe, NM	3.0	1.5	1300	$2,850	$2.19	44d	1	0.86mi
701 Camino de la Familia Santa Fe, NM	1.0	2.0	1408	$3,375	$2.40	21d	1	0.98mi
508 Franklin Ave Santa Fe, NM	2.0	1.0	1900	$2,300	$1.21	21d	1	1.07mi
903 Don Gaspar Ave Santa Fe, NM	2.0	1.0	1600	$3,500	$2.19	21d	1	1.10mi
406 Cortez Pl Santa Fe, NM	3.0	2.0	1450	$2,650	$1.83	44d	1	1.19mi

HOA detail

• Monthly dues: $912 · $10,944/yr
• Likely covers: gaslandscapingsecurity

Listing history 21 events

1. 2026-06-19
   days on market $50,000 Active 365 DOM
2. 2026-06-18
   days on market $50,000 Active 364 DOM
3. 2026-06-17
   days on market $50,000 Active 363 DOM
4. 2026-06-16
   days on market $50,000 Active 362 DOM
5. 2026-06-15
   days on market $50,000 Active 361 DOM
6. 2026-06-14
   days on market $50,000 Active 359 DOM
7. 2026-06-13
   days on market $50,000 Active 358 DOM
8. 2026-06-10
   days on market $50,000 Active 356 DOM
9. 2026-06-09
   days on market $50,000 Active 355 DOM
10. 2026-06-08
    days on market $50,000 Active 354 DOM
11. 2026-06-07
    days on market $50,000 Active 353 DOM
12. 2026-06-03
    days on market $50,000 Active 349 DOM
13. 2026-06-02
    days on market $50,000 Active 348 DOM
14. 2026-06-01
    days on market $50,000 Active 347 DOM
15. 2026-05-31
    days on market $50,000 Active 346 DOM
16. 2026-05-30
    days on market $50,000 Active 345 DOM
17. 2026-01-15
    price $50,000 1776-char remark

    Show marketing remark (1776 chars)

    Own a Slice of Santa Fe—Affordable Luxury in the Heart of Downtown Here’s your opportunity to own a second home in Santa Fe—at a fraction of the cost. This 1/8 deeded fractional ownership at El Corazón de Santa Fe, a premier Five-Star gated residence just steps from the historic Plaza, offers the perfect blend of luxury, convenience, and value. Located in the heart of downtown, Unit 61 is a beautifully appointed Montana model, offering 1,750 square feet of thoughtfully designed living space. This recently remodeled two-story home features 2 bedrooms, 2.5 baths, a gourmet kitchen with premium appliances and cookware, and warm Santa Fe-style finishes including vigas, a kiva fireplace, and high-end furnishings. A private patio and balcony offer peaceful outdoor spaces to relax and enjoy the ambiance of the City Different. Ownership at El Corazón is effortless. As part of The Residence Club, everything is taken care of for you—housekeeping, linens, maintenance, landscaping, and 24-hour security—so you can simply arrive and enjoy. The unit is fully furnished, with interiors that are either brand new or recently refreshed. Enjoy flexible reservations within the Montana series and gain access to an impressive trio of international exchange programs: The Registry Collection, Hyatt Vacation Club, and Interval International, giving you the option to travel to luxury destinations worldwide. HOA fees cover everything from property taxes and insurance to utilities and upkeep. Whether you’re looking for a stress-free vacation home or a smart way to spend more time in Santa Fe, El Corazón de Santa Fe offers an exceptional lifestyle where tradition meets modern luxury, at a truly attainable price point.

18. 2025-06-19
    listed $75,000 Active 1776-char remark

    Show marketing remark (1776 chars)

    Own a Slice of Santa Fe—Affordable Luxury in the Heart of Downtown Here’s your opportunity to own a second home in Santa Fe—at a fraction of the cost. This 1/8 deeded fractional ownership at El Corazón de Santa Fe, a premier Five-Star gated residence just steps from the historic Plaza, offers the perfect blend of luxury, convenience, and value. Located in the heart of downtown, Unit 61 is a beautifully appointed Montana model, offering 1,750 square feet of thoughtfully designed living space. This recently remodeled two-story home features 2 bedrooms, 2.5 baths, a gourmet kitchen with premium appliances and cookware, and warm Santa Fe-style finishes including vigas, a kiva fireplace, and high-end furnishings. A private patio and balcony offer peaceful outdoor spaces to relax and enjoy the ambiance of the City Different. Ownership at El Corazón is effortless. As part of The Residence Club, everything is taken care of for you—housekeeping, linens, maintenance, landscaping, and 24-hour security—so you can simply arrive and enjoy. The unit is fully furnished, with interiors that are either brand new or recently refreshed. Enjoy flexible reservations within the Montana series and gain access to an impressive trio of international exchange programs: The Registry Collection, Hyatt Vacation Club, and Interval International, giving you the option to travel to luxury destinations worldwide. HOA fees cover everything from property taxes and insurance to utilities and upkeep. Whether you’re looking for a stress-free vacation home or a smart way to spend more time in Santa Fe, El Corazón de Santa Fe offers an exceptional lifestyle where tradition meets modern luxury, at a truly attainable price point.

19. 2018-02-06
    status Pending
20. 2017-02-20
    price $75,000
21. 2016-09-06
    listed $125,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 8 d/yr ≥87°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,857
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$3,109
• − Management: −$3,109
• − HOA: −$10,944
• − Depreciation: −$1,455
• Taxable income: $16,441
• Est. tax owed @ 24.0%: −$3,946
• After-tax cash flow: $11,661/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: Santa Fe Public Schools
• NCES district ID: 3502370
• Math proficiency: 34% ▲ 16.00%
• Reading proficiency: 70% ▲ 40.00%
• Median HH income: $55,031
• Composite: 44.78/100
• National rank: #2744
• State rank: #6 of 29 in NM

Livability — Santa Fe

• Score: 74/100
• State rank: #9
• US rank: #4641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Fe, NM
• County: Santa Fe County · 118,003 people
• City population: 118,003
• Metro: Santa Fe, NM
• Population (ZIP): 16,007
• Household income: $79,603
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 905.0

Population outlook (Santa Fe County) Hauer SSP2

• Today (2025): 156,674 people
• By 2030: 159,422 · +1.8%
• By 2040: 160,891 · +2.7%
• By 2050: 159,966 · +2.1%
• By 2075: 161,318 · +3.0%
• By 2100: 157,302 · +0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 15% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 82% English-only · Spanish 12% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Santa Fe

• 2024 margin: Solid D (+48.9) · D 73.3% · R 24.4% · Other 2.2%
• 2008→2024 swing: -6.1pp toward R · 2008: 55.0pp · 2024: 48.9pp
• All cycles: 2024: D+48.9 2020: D+53.8 2016: D+51.0 2012: D+51.0 2008: D+55.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -595.93%
• Current HPI: 250.8292
• Rent YoY: ▲ 2.65%
• Metro: Santa Fe, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-60.0% since first listed

5 events — show timeline

• 2026-01-15 Price Changed $50,000 Santa Fe MLS
• 2025-06-19 Listed $75,000 Santa Fe MLS
• 2018-02-06 Pending — Santa Fe MLS
• 2017-02-20 Price Changed $75,000 Santa Fe MLS
• 2016-09-06 Listed $125,000 Santa Fe MLS