36 Bass Rd · Las Tusas, NM 87323

$90,000

2 bd · 1.0 ba · 1,120 sqft · Other · 78 Days on market

Built 1971 1.03 ac lot

---

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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Seller is highly motivated-This beautifully 14X80 mobile home offers 2 bedrooms, 1 full bathrooms, and 1,120 sqft of comfortable living space in the heart of Thoreau, New Mexico. Enjoy spacious living with a large living room and dining area, plus a 1,033 acre lot perfect for relaxing or entertaining. The property also features a 1-car garage for added convenience. Ideally located along historic Route 66, this home provides quick access to I-40 and is just about an 1hour and 30 minutes from Albuquerque. The area offers short commute times and year-round outdoor recreation, including nearby Mount Taylor, the Zuni Mountains, El Malpais, Ice Caves, Bluewater Lake, and Ramah Lake. Thoreau blends rich culture, history, and small-town charm with an affordable cost of living--maki

Key facts

• Dining area
• Large living room
• 1 acre lot

Tags

• LARGE LIVING ROOM
• DINING AREA
• 1 ACRE LOT
• QUICK ACCESS TO I-40
• YEAR-ROUND OUTDOOR RECREATION
• NEARBY MOUNT TAYLOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Grants-Cibola County Schools (town): math 14% / reading 22% proficiency, ranked #74 of 95 in NM (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Cibola County population projected at -14% 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1971 — 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. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• GRM: 7.4

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: 15.3%
• Equity multiple: 1.87×
• Total profit: $22,045
• Equity at exit: $40,468

10-year hold

• IRR: 17.0%
• Equity multiple: 3.49×
• Total profit: $62,833
• Equity at exit: $62,366

Cash invested: $25,200 (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 87323

• Active inventory: 22
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,010 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $176

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 78%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $90,000 Active 78 DOM
2. 2026-06-17
   days on market $90,000 Active 77 DOM
3. 2026-06-16
   days on market $90,000 Active 76 DOM
4. 2026-06-15
   days on market $90,000 Active 75 DOM
5. 2026-06-13
   days on market $90,000 Active 73 DOM
6. 2026-06-10
   days on market $90,000 Active 70 DOM
7. 2026-06-09
   days on market $90,000 Active 69 DOM
8. 2026-06-08
   days on market $90,000 Active 68 DOM
9. 2026-06-07
   days on market $90,000 Active 67 DOM
10. 2026-06-03
    days on market $90,000 Active 63 DOM
11. 2026-06-02
    days on market $90,000 Active 62 DOM
12. 2026-06-01
    days on market $90,000 Active 61 DOM
13. 2026-05-31
    days on market $90,000 Active 60 DOM
14. 2026-04-01
    listed $90,000 Active 785-char remark

    Show marketing remark (785 chars)

    Seller is highly motivated-This beautifully 14X80 mobile home offers 2 bedrooms, 1 full bathrooms, and 1,120 sqft of comfortable living space in the heart of Thoreau, New Mexico. Enjoy spacious living with a large living room and dining area, plus a 1,033 acre lot perfect for relaxing or entertaining. The property also features a 1-car garage for added convenience. Ideally located along historic Route 66, this home provides quick access to I-40 and is just about an 1hour and 30 minutes from Albuquerque. The area offers short commute times and year-round outdoor recreation, including nearby Mount Taylor, the Zuni Mountains, El Malpais, Ice Caves, Bluewater Lake, and Ramah Lake. Thoreau blends rich culture, history, and small-town charm with an affordable cost of living--maki

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥84°F today · 20 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: $12,116
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$2,618
• Taxable income: $718
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $1,936/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: Grants-Cibola County Schools
• NCES district ID: 3501170
• Math proficiency: 14% —
• Reading proficiency: 22% —
• Median HH income: $35,996
• Composite: 18.23/100
• National rank: #14064
• State rank: #74 of 95 in NM

Livability — Las Tusas

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Las Tusas, NM
• Population (ZIP): 3,702

Population outlook (Cibola County) Hauer SSP2

• Today (2025): 26,324 people
• By 2030: 25,594 · -2.8%
• By 2040: 24,117 · -8.4%
• By 2050: 22,568 · -14.3%
• By 2075: 18,653 · -29.1%
• By 2100: 12,719 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.95)
• Race & ethnicity: Native American 73% White 21% Hispanic / Latino 6% Two or more races 2% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Iranian 2% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 57% English-only · Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Cibola

• 2024 margin: Toss-up / Even · D 49.6% · R 48.0% · Other 2.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 29.6pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.7 2016: D+6.8 2012: D+23.8 2008: D+29.6

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

• 2026-04-01 Listed $90,000 Southwest MLS

Property tax history

+1.0%/yr

Latest (2025): $74 · +3.0% YoY. Source: county tax records.