644 E High St · Grants, NM 87020

$88,000

4 bd · 2.0 ba · 1,932 sqft · Other · 57 Days on market

Built 1958 0.34 ac lot $46/sqft · 61% below area ↓ 4% since listing

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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
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4-bedroom, 2-bath home offers 1,932 square feet of living space on a sizable 0.33-acre lot—an excellent opportunity for buyers seeking value and potential. Key features include a wood-burning fireplace, distinctive viga accents, and an open flow between the living, dining, and kitchen areas. The breakfast bar adds functional appeal. The large lot provides opportunities for expansion, landscaping improvements, or added amenities, while the detached single-car garage increases versatility.

Key facts

• Large lot
• Open flow
• Breakfast bar

Tags

• WOOD-BURNING FIREPLACE
• VIGA ACCENTS
• OPEN FLOW
• BREAKFAST BAR
• LARGE LOT
• DETACHED SINGLE-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $88k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#115 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• 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: 76 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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. 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: 1.61% ✓
• Cap rate: 13.28%
• Cash-on-cash: 24.94%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

• ARV (median comp): $225,063
• List price: $88,000
• Delta: -60.90%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.4%
• Equity multiple: 1.75×
• Total profit: $18,381
• Equity at exit: $13,121

10-year hold

• IRR: 26.8%
• Equity multiple: 3.36×
• Total profit: $58,096
• Equity at exit: $7,609

Cash invested: $24,640 (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 87020

• Active inventory: 76
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,418 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$110 /mo · $1,320/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $512

Break-even live

Break-even rent $770

Max offer price $88,000

Occupancy floor 59%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $88,000 Active 57 DOM
2. 2026-06-17
   days on market $88,000 Active 56 DOM
3. 2026-06-16
   pricedays on market $88,000 Active 55 DOM
4. 2026-06-15
   days on market $95,000 Active 54 DOM
5. 2026-06-13
   days on market $95,000 Active 52 DOM
6. 2026-06-10
   days on market $95,000 Active 49 DOM
7. 2026-06-09
   days on market $95,000 Active 48 DOM
8. 2026-06-08
   days on market $95,000 Active 47 DOM
9. 2026-06-07
   days on market $95,000 Active 46 DOM
10. 2026-06-03
    days on market $95,000 Active 42 DOM
11. 2026-06-02
    days on market $95,000 Active 41 DOM
12. 2026-06-01
    days on market $95,000 Active 40 DOM
13. 2026-05-31
    days on market $95,000 Active 39 DOM
14. 2026-05-18
    price $95,000 503-char remark

    Show marketing remark (503 chars)

    This 4-bedroom, 2-bath home offers 1,932 square feet of living space on a sizable 0.33-acre lot—an excellent opportunity for buyers seeking value and potential. Key features include a wood-burning fireplace, distinctive viga accents, and an open flow between the living, dining, and kitchen areas. The breakfast bar adds functional appeal. The large lot provides opportunities for expansion, landscaping improvements, or added amenities, while the detached single-car garage increases versatility.

15. 2026-04-22
    listed $99,000 Active 503-char remark

    Show marketing remark (503 chars)

    This 4-bedroom, 2-bath home offers 1,932 square feet of living space on a sizable 0.33-acre lot—an excellent opportunity for buyers seeking value and potential. Key features include a wood-burning fireplace, distinctive viga accents, and an open flow between the living, dining, and kitchen areas. The breakfast bar adds functional appeal. The large lot provides opportunities for expansion, landscaping improvements, or added amenities, while the detached single-car garage increases versatility.

ⓘ 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: $1,320 · $110/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 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: $17,018
• − Mortgage interest: −$4,929
• − Property taxes: −$1,320
• − Insurance: −$440
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$2,560
• Taxable income: $5,045
• Est. tax owed @ 24.0%: −$1,211
• After-tax cash flow: $4,935/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 — Grants

• Score: 60/100
• State rank: #115
• US rank: #19558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grants, NM
• Population (ZIP): 11,874

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 27% Two or more races 19% Native American 13% Black 4%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 5% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 69% English-only · Spanish 24% Vietnamese 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: ▼ -109.40%
• Current HPI: 167.6417
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-4.0% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $95,000 NMMLS
• 2026-04-22 Listed $99,000 NMMLS

Property tax history

+61.0%/yr

Latest (2025): $1,320 · +3.6% YoY. Source: county tax records.