104 Calle Diaz

Sunland Park, NM 88063

$110,000B

4 bd · 2.0 ba · 1,501 sqft · Built 1993 · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$295
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $551/mo
• Annual: $6,607/yr
• Cap rate: 13.96%
• Cash-on-cash: 27.38%
• DSCR: 2.22
• 1% rule: 1.64%
• Cash to close: $30,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• It's been on market 28 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($761 loan paydown + $2k appreciation (1.6% local appreciation)).
• Location reads 59/100 on livability (#125 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, crime B; Watch: schools F, amenities F, commute F.
• Gadsden Independent Schools (rural): math 20% / reading 34% proficiency, ranked #21 of 29 in NM (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 95% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $152/mo.
• Market conditions: 143 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.