4111 Elks Dr · Las Cruces, NM 88005

$185,000

4 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 150 Days on market

Built 1984 9,637 sqft lot ↓ 8% 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 +13.7/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Is there a 4-bed home in Las Cruces with a permanent foundation under $225K? Yes: 4111 Elks Drive is well maintained, well located, and move-in ready. Located in the Elks Drive area of Las Cruces, this well-maintained 4-bedroom, 2-bath double-wide manufactured home offers 1,560 square feet of interior space on a 9,637 sq ft corner lot. The home is built on a permanent foundation in a residential neighborhood--not in a mobile home park--making it eligible for a wide range of financing options. Interior features include laminate flooring throughout, fresh paint inside and out, and a spacious open layout ideal for daily living or investment. The primary suite features a walk-in closet, mounted TV, and its own mini-split system for targeted comfort. Three additional bedrooms offer mirrored sliding-door closets. A central HVAC system, retractable ceiling fans, and city utilities--including sewer, gas, and water--provide functional ease. High-speed internet is also connected.

Key facts

• Laminate flooring
• Fresh paint
• Walk-in closet

Tags

• PERMANENT FOUNDATION
• CORNER LOT
• LAMINATE FLOORING
• FRESH PAINT
• OPEN LAYOUT
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $13 ($151/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 $163k (11.7% below list).
• Recommended offer: $163k (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+, crime F, commute 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.
• Zoned schools: Jornada Elementary (490 students, 100% FRL); Vista Middle (602 students, 100% FRL); Centennial High School (math 47% / reading 67%, grade C, #33 of 110 statewide, top 29%, 1,615 students, 0% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents soft (-0.9%/yr); 180 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% of comp listings sitting > 30 days — soft ceiling on asking rent; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.34×
• Total profit: $-33,942
• Equity at exit: $27,584

10-year hold

• IRR: -19.8%
• Equity multiple: 0.09×
• Total profit: $-46,935
• Equity at exit: $15,995

Cash invested: $51,800 (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 88005

• Rents YoY: -0.9%
• Active inventory: 180
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $13

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 94%

Sensitivity live

Price	-10% $140	-5% $76	+0% $13	+5% $-51	+10% $-115
Rent	-10% $-117	-5% $-52	+0% $13	+5% $77	+10% $142
Rate	-1.0pp $106	-0.5pp $60	base $13	+0.5pp $-35	+1.0pp $-84

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4033 Winters St Las Cruces, NM	3.0	2.0	1222	$1,575	$1.29	45d	1	0.34mi
3453 Park Ridge Pl Las Cruces, NM	3.0	2.0	1409	$1,600	$1.14	23d	1	0.69mi
3451 Valverde Loop Las Cruces, NM	3.0	2.0	1285	$1,500	$1.17	45d	2	0.75mi
4023 Apache Pine Pl Unit D Las Cruces, NM	4.0	2.0	1629	$1,850	$1.14	45d	1	0.76mi
1977 Pine Trail St Apt B Las Cruces, NM	3.0	2.0	1261	$1,625	$1.29	45d	1	0.82mi
654 Rouault Ave Las Cruces, NM	3.0	2.0	1394	$1,350	$0.97	45d	1	1.00mi
4383 Kingston Rd Las Cruces, NM	3.0	2.0	1470	$1,500	$1.02	45d	1	1.00mi
3260 Venus St Las Cruces, NM	1.0–3.0	1.0–2.0	951	$1,600	$1.68	15d	6	1.02mi
2711 Topley Ave Unit NA Las Cruces, NM	3.0	2.0	1510	$1,650	$1.09	23d	1	1.18mi
2711 Topley Ave Las Cruces, NM	3.0	2.0	1510	$1,650	$1.09	45d	1	1.18mi
4604 Pyramid Peak Dr Las Cruces, NM	3.0	2.0	1470	$1,525	$1.04	45d	1	1.25mi

Listing history 18 events

1. 2026-06-22
   days on market $185,000 Active 150 DOM
2. 2026-06-18
   days on market $185,000 Active 147 DOM
3. 2026-06-17
   days on market $185,000 Active 146 DOM
4. 2026-06-16
   days on market $185,000 Active 145 DOM
5. 2026-06-15
   days on market $185,000 Active 144 DOM
6. 2026-06-14
   days on market $185,000 Active 142 DOM
7. 2026-06-13
   days on market $185,000 Active 141 DOM
8. 2026-06-10
   days on market $185,000 Active 139 DOM
9. 2026-06-09
   days on market $185,000 Active 138 DOM
10. 2026-06-08
    days on market $185,000 Active 137 DOM
11. 2026-06-07
    days on market $185,000 Active 136 DOM
12. 2026-06-02
    days on market $185,000 Active 131 DOM
13. 2026-06-01
    days on market $185,000 Active 130 DOM
14. 2026-05-31
    days on market $185,000 Active 129 DOM
15. 2026-05-30
    days on market $185,000 Active 128 DOM
16. 2026-04-01
    price $185,000 984-char remark

    Show marketing remark (984 chars)

    Is there a 4-bed home in Las Cruces with a permanent foundation under $225K? Yes: 4111 Elks Drive is well maintained, well located, and move-in ready. Located in the Elks Drive area of Las Cruces, this well-maintained 4-bedroom, 2-bath double-wide manufactured home offers 1,560 square feet of interior space on a 9,637 sq ft corner lot. The home is built on a permanent foundation in a residential neighborhood--not in a mobile home park--making it eligible for a wide range of financing options. Interior features include laminate flooring throughout, fresh paint inside and out, and a spacious open layout ideal for daily living or investment. The primary suite features a walk-in closet, mounted TV, and its own mini-split system for targeted comfort. Three additional bedrooms offer mirrored sliding-door closets. A central HVAC system, retractable ceiling fans, and city utilities--including sewer, gas, and water--provide functional ease. High-speed internet is also connected.

17. 2026-01-22
    listed $200,000 Active 984-char remark

    Show marketing remark (984 chars)

    Is there a 4-bed home in Las Cruces with a permanent foundation under $225K? Yes: 4111 Elks Drive is well maintained, well located, and move-in ready. Located in the Elks Drive area of Las Cruces, this well-maintained 4-bedroom, 2-bath double-wide manufactured home offers 1,560 square feet of interior space on a 9,637 sq ft corner lot. The home is built on a permanent foundation in a residential neighborhood--not in a mobile home park--making it eligible for a wide range of financing options. Interior features include laminate flooring throughout, fresh paint inside and out, and a spacious open layout ideal for daily living or investment. The primary suite features a walk-in closet, mounted TV, and its own mini-split system for targeted comfort. Three additional bedrooms offer mirrored sliding-door closets. A central HVAC system, retractable ceiling fans, and city utilities--including sewer, gas, and water--provide functional ease. High-speed internet is also connected.

18. 2006-11-03
    soldstatus

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°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: $19,611
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$5,382
• Taxable loss: −$2,971
• Est. tax savings @ 24.0%: +$713
• After-tax cash flow: $864/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): 27,509
• Household income: $54,452
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1248.0

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: Majority Hispanic (58%)
• Race & ethnicity: Hispanic / Latino 58% White 35% Two or more races 28% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 68% English-only · Spanish 30%

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: ▼ -186.66%
• Current HPI: 188.4624
• Rent YoY: ▼ -0.88%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-7.5% since first listed

3 events — show timeline

• 2026-04-01 Price Changed $185,000 SNMMLS as distributed by MLS GRID
• 2026-01-22 Listed $200,000 SNMMLS as distributed by MLS GRID
• 2006-11-03 Sold (Public Records) — Public Records

Property tax history

-11.5%/yr

Latest (2025): $141 · -0.6% YoY. Source: county tax records.