604 & 606 D Ave · Carrizozo, NM 88301

$150,000

4 bd · 2.0 ba · 1,292 sqft · Other public records · 420 Days on market

Built 1950 0.31 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 +18.5/30.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• DSCR +5.8/10.0
• Schools +4.1/10.0
• 1% rule +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

Key facts

• Remodeled
• Full kitchen
• Utility room

Tags

• FULL KITCHEN
• UTILITY ROOM
• FENCED YARDS
• SHARED DRIVEWAY
• REMODELED
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/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 $130k (13.5% below list).
• Recommended offer: $130k (13.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#106 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities D+, housing D, schools F.
• Carrizozo Municipal Schools (rural): math 25% / reading 75% proficiency, ranked #11 of 29 in NM (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.2% local appreciation)).
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 420 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $40k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,820 (13.5% below list)

Questions for the listing agent

1. It's been on market 420 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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. 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: 0.87% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.50×
• Total profit: $21,070
• Equity at exit: $61,063

10-year hold

• IRR: 12.1%
• Equity multiple: 2.66×
• Total profit: $69,914
• Equity at exit: $89,414

Cash invested: $42,000 (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 88301

• Home prices YoY: 2.7%
• Active inventory: 54
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$34 /mo · $407/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $143

Break-even live

Break-even rent $1,118

Max offer price $150,000

Occupancy floor 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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $150,000 Active 420 DOM
2. 2026-06-17
   days on market $150,000 Active 419 DOM
3. 2026-06-16
   days on market $150,000 Active 418 DOM
4. 2026-06-15
   days on market $150,000 Active 417 DOM
5. 2026-06-13
   days on market $150,000 Active 415 DOM
6. 2026-06-12
   days on market $150,000 Active 414 DOM
7. 2026-06-09
   days on market $150,000 Active 411 DOM
8. 2026-06-08
   days on market $150,000 Active 410 DOM
9. 2026-06-07
   days on market $150,000 Active 409 DOM
10. 2026-06-07
    days on market $150,000 Active 408 DOM
11. 2026-06-04
    days on market $150,000 Active 405 DOM
12. 2026-06-02
    days on market $150,000 Active 404 DOM
13. 2026-06-01
    days on market $150,000 Active 403 DOM
14. 2026-05-31
    days on market $150,000 Active 402 DOM
15. 2026-03-26
    price $150,000 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

16. 2026-03-11
    price $160,000 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

17. 2025-12-22
    status Active 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

18. 2025-12-22
    price $165,000 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

19. 2025-09-22
    historical Active Under Contract 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

20. 2025-08-13
    price $170,000 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

21. 2025-06-25
    price $180,000 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

22. 2025-05-20
    price $185,000 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

23. 2025-04-25
    listed $190,000 Active 655-char remark

    Show marketing remark (655 chars)

    604 & 606 D Ave is a 4 bedroom 2 bath duplex. Each unit is approx. 646 sq feet and has 2 bedrooms, 1 bath, full kitchen, and utility room. Both units have full baths. Kitchens convey with ranges, and refrigerators only. Washer & Dryer hookups in both units. Both units were remodeled so all new appliances, plumbing and electrical. Fenced yards and shared driveway/sidewalk parking. Income producing duplex! Both units have full time tenants paying month to month rent. Landlord pays water only, tenants pay gas & electric. Tenants would like to stay with new ownership. Schedule an appointment to tour today! SELLER FINANCING AVAILABLE.

24. 2022-05-02
    soldstatus 288-char remark

    Show marketing remark (288 chars)

    This Duplex is located centrally in Carrizozo. Unit 606 includes two bedrooms and one full bath with rent being $425 per month. Unit 604 contains one bedroom and one full bath with rent being $375 per month. This property has excellent long-term rental potential with a little bit of TLC.

25. 2022-02-08
    listed $50,000 288-char remark

    Show marketing remark (288 chars)

    This Duplex is located centrally in Carrizozo. Unit 606 includes two bedrooms and one full bath with rent being $425 per month. Unit 604 contains one bedroom and one full bath with rent being $375 per month. This property has excellent long-term rental potential with a little bit of TLC.

ⓘ 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: $407 · $34/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$793/yr (+$66/mo · 194.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥93°F today · 19 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: $15,578
• − Mortgage interest: −$8,402
• − Property taxes: −$407
• − Insurance: −$750
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$4,364
• Taxable loss: −$838
• Est. tax savings @ 24.0%: +$201
• After-tax cash flow: $1,911/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: Carrizozo Municipal Schools
• NCES district ID: 3500330
• Math proficiency: 25% ▲ 15.00%
• Reading proficiency: 75% ▲ 40.00%
• Median HH income: $31,699
• Composite: 40.83/100
• National rank: #3633
• State rank: #11 of 29 in NM

Livability — Carrizozo

• Score: 60/100
• State rank: #106
• US rank: #18817

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carrizozo, NM
• Population (ZIP): 1,269

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 55% Two or more races 41% White 32% Native American 2%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Slovak 5% Italian 1% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 64% English-only · Spanish 34% French/Haitian/Cajun 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.23%
• Current HPI: 85.6064
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+200.0% since first listed

11 events — show timeline

• 2026-03-26 Price Changed $150,000 RLCAR
• 2026-03-11 Price Changed $160,000 RLCAR
• 2025-12-22 Relisted — RLCAR
• 2025-12-22 Price Changed $165,000 RLCAR
• 2025-09-22 Contingent — RLCAR
• 2025-08-13 Price Changed $170,000 RLCAR
• 2025-06-25 Price Changed $180,000 RLCAR
• 2025-05-20 Price Changed $185,000 RLCAR
• 2025-04-25 Listed $190,000 RLCAR
• 2022-05-02 Sold (MLS) — RLCAR
• 2022-02-08 Listed $50,000 RLCAR

Property tax history

+6.1%/yr

Latest (2025): $407 · +0.2% YoY. Source: county tax records.