488 7 Th · Chama, NM 87520

$165,000

3 bd · 1.0 ba · 1,869 sqft · Other public records · 262 Days on market

Built 1960 7,405 sqft lot ↓ 18% since listing

---

Why this score? — see what drove the D 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 +10.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Schools +5.0/10.0
• DSCR +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks

Charming Northern NM Home in the Village of Chama This 3-bedroom, 1.75-bath home offers solid potential with some updates already completed. While it could use a bit of TLC, it sits on a village lot with city sewer, natural gas a private well—a rare combination that adds to its appeal. The property includes a detached garage, perfect for storage or a workshop. Whether you're looking for a full-time residence, vacation home, or investment opportunity, this home is a great option in the heart of Chama.

Key facts

• Village of chama
• Private well
• Northern nm home

Tags

• NORTHERN NM HOME
• VILLAGE OF CHAMA
• CITY SEWER
• NATURAL GAS
• PRIVATE WELL
• DETACHED GARAGE

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached garage; Two total parking spaces (includes 1 garage space)
• Utilities: Electricity available; Public sewer; Private well water
• Construction: Metal roof; Year built not certain (owner indicated)
• Exterior features: Lot is approximately 0.17 acres

Interior

• Bathrooms: One three-quarter bathroom
• Heating & cooling: Natural gas heating; Space heater; Stove heating
• Interior features: No interior steps; Not ADA compliant

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $165k.

Deal economics

• At list price, monthly cash flow is $-82 ($-982/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (30.5% below list).
• Recommended offer: $115k (30.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#192 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, schools F, crime F.
• Market conditions: 89 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Rio Arriba County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Recommended offer $114,742 (30.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.70% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.13%
• DSCR: 0.91
• GRM: 12.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $289
• Equity at exit: $58,981

10-year hold

• IRR: 4.7%
• Equity multiple: 1.59×
• Total profit: $27,324
• Equity at exit: $80,474

Cash invested: $46,200 (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 87520

• Home prices YoY: 0.8%
• Active inventory: 89
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$54 /mo · $652/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-82

Break-even live

Break-even rent $1,251

Max offer price $150,538

Occupancy floor —

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $165,000 Active 262 DOM
2. 2026-06-17
   days on market $165,000 Active 261 DOM
3. 2026-06-16
   days on market $165,000 Active 260 DOM
4. 2026-06-15
   days on market $165,000 Active 259 DOM
5. 2026-06-13
   days on market $165,000 Active 257 DOM
6. 2026-06-12
   days on market $165,000 Active 256 DOM
7. 2026-06-09
   days on market $165,000 Active 253 DOM
8. 2026-06-08
   days on market $165,000 Active 252 DOM
9. 2026-06-07
   days on market $165,000 Active 251 DOM
10. 2026-06-05
    days on market $165,000 Active 249 DOM
11. 2026-06-04
    days on market $165,000 Active 247 DOM
12. 2026-06-02
    days on market $165,000 Active 246 DOM
13. 2026-06-01
    days on market $165,000 Active 245 DOM
14. 2026-05-31
    days on market $165,000 Active 244 DOM
15. 2026-02-07
    price $165,000
16. 2025-09-26
    listed $200,000 Active

ⓘ 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: $652 · $54/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$668/yr (+$56/mo · 102.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 8 d/yr ≥83°F today · 21 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: $13,769
• − Mortgage interest: −$9,243
• − Property taxes: −$652
• − Insurance: −$825
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$4,800
• Taxable loss: −$3,953
• Est. tax savings @ 24.0%: +$949
• After-tax cash flow: $-34/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 — Chama

• Score: 56/100
• State rank: #192
• US rank: #23013

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chama, NM
• Population (ZIP): 1,088

Population outlook (Rio Arriba County) Hauer SSP2

• Today (2025): 36,893 people
• By 2030: 35,060 · -5.0%
• By 2040: 31,035 · -15.9%
• By 2050: 27,056 · -26.7%
• By 2075: 19,056 · -48.3%
• By 2100: 12,332 · -66.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 52% White 39% Two or more races 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 10% Hungarian 5% Portuguese 2%
• Languages at home: 81% English-only · Spanish 19%

Political lean MEDSL · Rio Arriba

• 2024 margin: D (+19.4) · D 58.6% · R 39.2% · Other 2.2%
• 2008→2024 swing: -31.4pp toward R · 2008: 50.9pp · 2024: 19.4pp
• All cycles: 2024: D+19.4 2020: D+33.6 2016: D+40.3 2012: D+52.6 2008: D+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.31%
• Current HPI: 154.8397
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-17.5% since first listed

2 events — show timeline

• 2026-02-07 Price Changed $165,000 Santa Fe MLS
• 2025-09-26 Listed $200,000 Santa Fe MLS

Property tax history

+4.3%/yr

Latest (2025): $652 · +12.3% YoY. Source: county tax records.