1003 Bard Street 903 St · Santa Clara, NM 88026

$48,000

2 bd · 1.0 ba · 598 sqft · SingleFamily · 69 Days on market

Built 1930 0.29 ac lot

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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 +7.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

This quaint 2 BD 1 BA home sits on over 1/4 Acre in beautiful Santa Clara on the corner of Pine St and Bard Ave. The listing includes a high-ceiling workshop/carport outbuilding that has a built-in pull over for at home mechanic work and an additional small outbuilding with so much room for opportunity. The yard is fully fenced with chainlink and ready for a showing today. Call Listing Broker!

Key facts

• Fully fenced yard
• 0.29 acre lot
• Garage

Tags

• FULLY FENCED YARD
• CORNER OF PINE ST AND BARD AVE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($812 rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#94 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools F, amenities F, commute F.
• Cobre Consolidated Schools (town): math 13% / reading 33% proficiency, ranked #56 of 95 in NM (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($332 loan paydown + $2k appreciation (5.0% local appreciation)).
• Grant County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 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?
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.66%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 3.30×
• Total profit: $30,936
• Equity at exit: $27,339

10-year hold

• IRR: 35.3%
• Equity multiple: 6.69×
• Total profit: $76,434
• Equity at exit: $47,299

Cash invested: $13,440 (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 88026

• Home prices YoY: 9.2%
• Active inventory: 13
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $812 medium
• Mortgage (P&I): −$252
• Tax est. 1.5%: −$60 /mo · $720/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $310

Break-even live

Break-even rent $420

Max offer price $48,000

Occupancy floor 57%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2024-09-17
   status Pending
2. 2024-08-10
   status Active
3. 2024-07-22
   status Pending
4. 2024-06-19
   listed $48,000 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 10/10 Extreme
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 21 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: $9,744
• − Mortgage interest: −$2,689
• − Property taxes: −$720
• − Insurance: −$240
• − Repairs & maintenance: −$780
• − Management: −$780
• − Depreciation: −$1,396
• Taxable income: $3,140
• Est. tax owed @ 24.0%: −$754
• After-tax cash flow: $2,964/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: Cobre Consolidated Schools
• NCES district ID: 3500600
• Math proficiency: 13% —
• Reading proficiency: 33% —
• Median HH income: $32,044
• Composite: 21.77/100
• National rank: #13581
• State rank: #56 of 95 in NM

Livability — Santa Clara

• Score: 61/100
• State rank: #94
• US rank: #17762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Clara, NM
• Population (ZIP): 1,636

Population outlook (Grant County) Hauer SSP2

• Today (2025): 26,478 people
• By 2030: 25,179 · -4.9%
• By 2040: 22,711 · -14.2%
• By 2050: 20,807 · -21.4%
• By 2075: 16,893 · -36.2%
• By 2100: 13,020 · -50.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 41% White 24%
• Hispanic origin (detail): Mexican 68% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Danish 1%
• Foreign-born: 3% · Canada
• Languages at home: 53% English-only · Spanish 46%

Political lean MEDSL · Grant

• 2024 margin: Lean D (+5.1) · D 51.3% · R 46.3% · Other 2.4%
• 2008→2024 swing: -14.8pp toward R · 2008: 19.9pp · 2024: 5.1pp
• All cycles: 2024: D+5.1 2020: D+7.2 2016: D+7.7 2012: D+13.5 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.05%
• Current HPI: 59.8202
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

4 events — show timeline

• 2024-09-17 Pending — NMMLS
• 2024-08-10 Relisted — NMMLS
• 2024-07-22 Pending — NMMLS
• 2024-06-19 Listed $48,000 NMMLS