510 Park Ave · Raton, NM 87740

$95,000

3 bd · 1.5 ba · 1,108 sqft · Other · 199 Days on market

Built 1981 2,057 sqft 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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Talk about VIEWS! 510 Park Avenue is a 3 bedroom, 2 bath townhome located at the top of Park Avenue. From the front deck, the views of the northeastern New Mexico highlands are tremendous! Stepping through the front door, the large windows in this modestly sized home gives a sense of warmth and comfort. The natural light spills in, giving an inviting impression. The main floor consists of livingroom, dining area, a half bath, and kitchen. Appliances are all electric, as is the heating system. Upstairs you will find 3 bedrooms, and a bathroom. The bedrooms are nice sized, with the primairy large enough for a king sized bed. A small balcony off the primairy suite would be AMAZING to watch the town firework display from. The back yard includes a flagstone patio, as well as a nice sized side yard with fence. Your dog will love it! Entertain friends on the back patio under the glow of the Raton sign on Goat Hill! This would be a great home for a single person, a couple, or a small family! Its worth a look, call today to view this unique property!

Key facts

• Front deck
• Small balcony
• Natural light

Tags

• FRONT DECK
• NATURAL LIGHT
• FLAGSTONE PATIO
• BACK PATIO
• SMALL BALCONY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#23 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Raton Public Schools (town): math 14% / reading 24% proficiency, ranked #71 of 95 in NM (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Colfax County population projected at -39% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 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 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. 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: 1.00% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 8.3

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-5,663
• Equity at exit: $14,165

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $7,538
• Equity at exit: $8,214

Cash invested: $26,600 (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 87740

• Active inventory: 66
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $153

Break-even live

Break-even rent $756

Max offer price $95,000

Occupancy floor 79%

Sensitivity live

Price	-10% $207	-5% $180	+0% $153	+5% $126	+10% $99
Rent	-10% $78	-5% $116	+0% $153	+5% $191	+10% $228
Rate	-1.0pp $201	-0.5pp $177	base $153	+0.5pp $129	+1.0pp $103

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Nevada Ave Apt 7 Raton, NM	2.0	1.0	700	$950	$1.36	44d	1	0.37mi

Listing history 20 events

1. 2026-06-21
   days on market $95,000 Active 199 DOM
2. 2026-06-18
   days on market $95,000 Active 197 DOM
3. 2026-06-17
   days on market $95,000 Active 196 DOM
4. 2026-06-16
   days on market $95,000 Active 195 DOM
5. 2026-06-15
   days on market $95,000 Active 194 DOM
6. 2026-06-13
   days on market $95,000 Active 192 DOM
7. 2026-06-12
   days on market $95,000 Active 191 DOM
8. 2026-06-09
   days on market $95,000 Active 188 DOM
9. 2026-06-08
   days on market $95,000 Active 187 DOM
10. 2026-06-07
    days on market $95,000 Active 186 DOM
11. 2026-06-05
    days on market $95,000 Active 184 DOM
12. 2026-06-04
    days on market $95,000 Active 182 DOM
13. 2026-06-02
    days on market $95,000 Active 181 DOM
14. 2026-06-01
    days on market $95,000 Active 180 DOM
15. 2026-05-31
    days on market $95,000 Active 179 DOM
16. 2026-04-15
    price $95,000 1060-char remark

    Show marketing remark (1060 chars)

    Talk about VIEWS! 510 Park Avenue is a 3 bedroom, 2 bath townhome located at the top of Park Avenue. From the front deck, the views of the northeastern New Mexico highlands are tremendous! Stepping through the front door, the large windows in this modestly sized home gives a sense of warmth and comfort. The natural light spills in, giving an inviting impression. The main floor consists of livingroom, dining area, a half bath, and kitchen. Appliances are all electric, as is the heating system. Upstairs you will find 3 bedrooms, and a bathroom. The bedrooms are nice sized, with the primairy large enough for a king sized bed. A small balcony off the primairy suite would be AMAZING to watch the town firework display from. The back yard includes a flagstone patio, as well as a nice sized side yard with fence. Your dog will love it! Entertain friends on the back patio under the glow of the Raton sign on Goat Hill! This would be a great home for a single person, a couple, or a small family! Its worth a look, call today to view this unique property!

17. 2025-12-02
    listed $100,000 Active 1060-char remark

    Show marketing remark (1060 chars)

    Talk about VIEWS! 510 Park Avenue is a 3 bedroom, 2 bath townhome located at the top of Park Avenue. From the front deck, the views of the northeastern New Mexico highlands are tremendous! Stepping through the front door, the large windows in this modestly sized home gives a sense of warmth and comfort. The natural light spills in, giving an inviting impression. The main floor consists of livingroom, dining area, a half bath, and kitchen. Appliances are all electric, as is the heating system. Upstairs you will find 3 bedrooms, and a bathroom. The bedrooms are nice sized, with the primairy large enough for a king sized bed. A small balcony off the primairy suite would be AMAZING to watch the town firework display from. The back yard includes a flagstone patio, as well as a nice sized side yard with fence. Your dog will love it! Entertain friends on the back patio under the glow of the Raton sign on Goat Hill! This would be a great home for a single person, a couple, or a small family! Its worth a look, call today to view this unique property!

18. 2020-11-10
    soldstatus
19. 2020-10-13
    soldstatus 723-char remark

    Show marketing remark (723 chars)

    Unique property in close proximity to down town Raton and hiking trails are close by! Townhouse in Raton has 2 living levels and garage that is tucked under the main level. As you walk up the first flight of stairs you land on a deck where you can sit and enjoy the mountain views around you! Goat hill is just behind you as you walk out into the backyard with a partial fenced yard. .Great for pets! It is the last unit as you travel west up park ave so the views are just gorgeous from the 3rd level deck just off the bedroom! 3 bedrooms and 1 full bath are on the upper level. Main level includes living. laundry, 1/2 bath, kitchen and dining! This unit has been well cared for and in good condition! Call today to view!

20. 2019-07-29
    listed $79,900 723-char remark

    Show marketing remark (723 chars)

    Unique property in close proximity to down town Raton and hiking trails are close by! Townhouse in Raton has 2 living levels and garage that is tucked under the main level. As you walk up the first flight of stairs you land on a deck where you can sit and enjoy the mountain views around you! Goat hill is just behind you as you walk out into the backyard with a partial fenced yard. .Great for pets! It is the last unit as you travel west up park ave so the views are just gorgeous from the 3rd level deck just off the bedroom! 3 bedrooms and 1 full bath are on the upper level. Main level includes living. laundry, 1/2 bath, kitchen and dining! This unit has been well cared for and in good condition! Call today to view!

ⓘ 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: $715 · $60/mo
• Projected year-2 tax: $760 · $63/mo
• Expected delta: +$45/yr (+$4/mo · 6.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 9 d/yr ≥88°F today · 27 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,400
• − Mortgage interest: −$5,321
• − Property taxes: −$715
• − Insurance: −$475
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$2,764
• Taxable income: $301
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $1,765/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: Raton Public Schools
• NCES district ID: 3502190
• Math proficiency: 14% —
• Reading proficiency: 24% —
• Median HH income: $33,774
• Composite: 18.8/100
• National rank: #13993
• State rank: #71 of 95 in NM

Livability — Raton

• Score: 69/100
• State rank: #23
• US rank: #8557

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raton, NM
• Population (ZIP): 7,055

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 (52%)
• Race & ethnicity: Hispanic / Latino 52% White 44% Two or more races 21% Native American 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Italian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 83% English-only · Spanish 14%

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: ▼ -80.47%
• Current HPI: 133.0875
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+18.9% since first listed

5 events — show timeline

• 2026-04-15 Price Changed $95,000 NMMLS
• 2025-12-02 Listed $100,000 NMMLS
• 2020-11-10 Sold (Public Records) — Public Records
• 2020-10-13 Sold (MLS) — NMMLS
• 2019-07-29 Listed $79,900 NMMLS

Property tax history

+4.1%/yr

Latest (2025): $715 · +1.3% YoY. Source: county tax records.