302 Travel Aire Rd · Ruidoso, NM 88345

$110,000

2 bd · 2.0 ba · 1,008 sqft · Manufactured · 7 Days on market

Built 1975 Fair condition 0.65 ac lot

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable mountain living awaits! This fully furnished 2-bedroom, 2-bath manufactured home offers a low-maintenance retreat in the cool pines of Ruidoso. Built in 1975, the home features convenient one-level living, ample parking, and a covered front deck perfect for relaxing and enjoying the mountain air. Whether you're looking for a weekend getaway, investment opportunity, or full-time residence, this mountain retreat is ready for you to enjoy all that Ruidoso has to offer.

Key facts

• Ample parking
• One-level living
• Covered front deck

Tags

• FULLY FURNISHED
• ONE-LEVEL LIVING
• AMPLE PARKING
• COVERED FRONT DECK

Property features AI

Finance

• Other: Property zoned M1

Exterior

• Parking: Driveway; Gravel parking on site
• Utilities: Public water; Septic tank sewer; Electricity connected; Propane; Water connected
• Home design: Manufactured home (single wide); One level
• Construction: Board & batten siding; Shingle roof
• Exterior features: Covered patio/porch; Deck; Corner lot; Gentle sloping lot; Wooded lot; Paved road frontage; City street frontage; Has a view

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); Furnished; See remarks

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 66/100 on livability (#40 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Ruidoso Municipal Schools (town): math 16% / reading 59% proficiency, ranked #14 of 29 in NM (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 593 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lincoln County population projected at -35% 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 $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $110,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1975 — 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 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?
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: 1.33% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 6.3

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: 6.1%
• Equity multiple: 1.24×
• Total profit: $7,359
• Equity at exit: $16,401

10-year hold

• IRR: 15.5%
• Equity multiple: 2.26×
• Total profit: $38,898
• Equity at exit: $9,511

Cash invested: $30,800 (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 88345

• Active inventory: 593
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $395

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 68%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Raymond Buckner Dr Unit B Ruidoso, NM	2.0	1.0	993	$1,400	$1.41	43d	1	0.54mi

Listing history 6 events

1. 2026-06-17
   status $110,000 Pending 7 DOM
2. 2026-06-16
   days on market $110,000 Active 7 DOM
3. 2026-06-15
   days on market $110,000 Active 6 DOM
4. 2026-06-14
   days on market $110,000 Active 4 DOM
5. 2026-06-12
   remarks 481-char remark
6. 2026-06-12
   listed $110,000 Active 3 DOM

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥85°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,548
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$3,200
• Taxable income: $3,179
• Est. tax owed @ 24.0%: −$763
• After-tax cash flow: $3,978/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This manufactured home requires significant repairs and maintenance, including a new roof, exterior siding repair, HVAC replacement, and interior wall repairs. Landscaping would also improve its curb appeal and increase its resale value.

Repairs flagged

• Major roof — The independent aerial image shows significant damage.
• Major exterior siding — The independent aerial image shows significant damage.
• Major HVAC system — The listing photos show an old and potentially inefficient system.
• Major interior walls — The listing photos show peeling paint and potential water damage.
• Major landscaping — The listing photos show a lack of landscaping and a worn exterior, which detracts from curb appeal.

Value-add opportunities

• Resale new roof — A new roof would significantly improve the home's appearance and reduce potential maintenance costs.
• Resale exterior siding repair — Repairing the exterior siding would improve the home's curb appeal and increase its resale value.
• Both HVAC replacement — Replacing the old HVAC system would improve energy efficiency and comfort, benefiting both resale and rental value.
• Resale interior wall repairs — Repairing the peeling paint and addressing potential water damage would improve the home's condition and increase its resale value.
• Resale landscaping — Landscaping would improve the home's curb appeal and increase its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The independent aerial image shows significant damage.	Major	$15,000–50,000
exterior siding · The independent aerial image shows significant damage.	Major	$15,000–50,000
HVAC system · The listing photos show an old and potentially inefficient system.	Major	$15,000–50,000
interior walls · The listing photos show peeling paint and potential water damage.	Major	$15,000–50,000
landscaping · The listing photos show a lack of landscaping and a worn exterior, which detracts from curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale new roof — A new roof would significantly improve the home's appearance and reduce potential maintenance costs. ↑
• Resale exterior siding repair — Repairing the exterior siding would improve the home's curb appeal and increase its resale value. ↑
• Both HVAC replacement — Replacing the old HVAC system would improve energy efficiency and comfort, benefiting both resale and rental value. ↑
• Resale interior wall repairs — Repairing the peeling paint and addressing potential water damage would improve the home's condition and increase its resale value. ↑
• Resale landscaping — Landscaping would improve the home's curb appeal and increase its resale value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ruidoso Municipal Schools
• NCES district ID: 3502310
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $44,094
• Composite: 31.68/100
• National rank: #5925
• State rank: #14 of 29 in NM

Livability — Ruidoso

• Score: 66/100
• State rank: #40
• US rank: #11996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruidoso, NM
• County: Lincoln County · 7,835 people
• City population: 7,835
• Metro: Ruidoso, NM
• Population (ZIP): 7,835
• Household income: $53,971
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 156.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 28% Two or more races 14% Native American 1% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 4% Slovak 3% Danish 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 81% English-only · Spanish 17%

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: ▼ -125.17%
• Current HPI: 141.9549
• Rent YoY: —
• Metro: Ruidoso, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-09 Listed $110,000 RLCAR