511 County Rd · Springer, NM 87747

$125,000

5 bd · 1.0 ba · 1,748 sqft · Other · 7 Days on market

Built 1940 0.32 ac lot

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Why this score? — see what drove the C+ 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Lots of space in this large home with 5 bedrooms, 1 bath with a nice big living room! Oak hardwood floors and a full basement!. Big corner lot. Sit on the back patio and enjoy some coffee! There are shade trees and fruit trees! Don't lose out on seeing potential gem.

Key facts

• Large home
• Big corner lot
• Full basement

Tags

• LARGE HOME
• BIG LIVING ROOM
• OAK HARDWOOD FLOORS
• FULL BASEMENT
• BIG CORNER LOT
• BACK PATIO

Property features AI

Finance

• HOA & community: Homeowners association present with monthly fees

Exterior

• Parking: Gravel parking
• Utilities: Public water; Electricity connected; Natural gas available; Phone available
• Home design: Residential single-family home; Two levels; Entry level information not provided; Facing direction not provided
• Construction: Frame and other construction materials; Metal roof; Slab foundation; Built year not provided
• Exterior features: Covered patio and porch; Corner lot; Canyon/valley topography

Interior

• Kitchen: Electric range; Freezer
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Ceiling fan cooling
• Interior features: Ceiling fans; Insulated windows with window coverings; No fireplace
• Laundry & utility: Washer hookup; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 65/100 on livability (#62 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: employment D+, housing D+, crime F.
• Market conditions: 8 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Colfax County population projected at -39% 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1940 — 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. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.61%
• DSCR: 1.43
• GRM: 7.8

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: 16.5%
• Equity multiple: 1.94×
• Total profit: $32,880
• Equity at exit: $56,205

10-year hold

• IRR: 18.0%
• Equity multiple: 3.63×
• Total profit: $91,988
• Equity at exit: $86,619

Cash invested: $35,000 (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 87747

• Active inventory: 8
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $280

Break-even live

Break-even rent $975

Max offer price $125,000

Occupancy floor 74%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $125,000 Active 7 DOM
2. 2026-06-17
   days on market $125,000 Active 6 DOM
3. 2026-06-16
   days on market $125,000 Active 5 DOM
4. 2026-06-15
   days on market $125,000 Active 4 DOM
5. 2026-06-13
   days on market $125,000 Active 2 DOM
6. 2026-06-12
   remarks 269-char remark
7. 2026-06-12
   listed $125,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NM · Resets to sale price

• Current annual tax: $751 · $63/mo
• Projected year-2 tax: $1,000 · $83/mo
• Expected delta: +$249/yr (+$21/mo · 33.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,959
• − Mortgage interest: −$7,002
• − Property taxes: −$751
• − Insurance: −$625
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$3,636
• Taxable income: $1,391
• Est. tax owed @ 24.0%: −$334
• After-tax cash flow: $3,031/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)

No district data.

Livability — Springer

• Score: 65/100
• State rank: #62
• US rank: #13583

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springer, NM
• Population (ZIP): 1,941

Population outlook (Colfax County) Hauer SSP2

• Today (2025): 10,260 people
• By 2030: 9,240 · -9.9%
• By 2040: 7,474 · -27.2%
• By 2050: 6,285 · -38.7%
• By 2075: 5,109 · -50.2%
• By 2100: 4,684 · -54.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (57%)
• Race & ethnicity: Hispanic / Latino 57% White 37% Two or more races 33% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Iranian 4% Portuguese 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 75% English-only · Spanish 24%

Political lean MEDSL · Colfax

• 2024 margin: R (+14.0) · D 41.9% · R 55.9% · Other 2.1%
• 2008→2024 swing: -24.8pp toward R · 2008: 10.7pp · 2024: -14.0pp
• All cycles: 2024: R+14.0 2020: R+11.0 2016: R+8.6 2012: D+2.0 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

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

Price history

1 event — show timeline

• 2026-06-11 Listed $125,000 TCAR

Property tax history

+0.9%/yr

Latest (2025): $751 · +5.6% YoY. Source: county tax records.