825 W 4th Ave · Truth or Consequences, NM 87901

$74,900

24 bd · 16.0 ba · 4,636 sqft · Other public records · 94 Days on market

Built 1940 ↓ 21% 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 +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in the heart of Truth or Consequences, this 1,030-square-foot block home offers a prime canvas for your creative vision. The interior features a functional layout with original plumbing and electrical systems in working order. The kitchen is equipped with tile flooring, durable Formica countertops, well-maintained cabinetry, and a full suite of appliances, including a washer and dryer. With no HOA and public utilities, this property provides the freedom to customize. A blank slate with a solid foundation, ready for a full modern transformation. Sold as-is.

Key facts

• Tile flooring
• Functional layout
• Original plumbing

Tags

• FUNCTIONAL LAYOUT
• ORIGINAL PLUMBING
• ORIGINAL ELECTRICAL SYSTEMS
• TILE FLOORING
• FORMICA COUNTERTOPS
• WELL-MAINTAINED CABINETRY

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: 2 total parking spaces; 2 covered parking spaces; Attached carport; 2-car garage
• Home design: Residential single-family home
• Exterior features: Located in the Original Townsite subdivision; Directions available for property location

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: No heating listed
• Interior features: One full bathroom and one half bathroom; No heating system specified

What this means for you Summary

Snapshot

• This is a 24-bed/16.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#60 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: schools F, crime F, commute F.
• T Or C Municipal Schools (town): math 25% / reading 25% proficiency, ranked #29 of 29 in NM (top 100%) — 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: 91 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sierra County population projected at -38% 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,159 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.85% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.02%
• DSCR: 2.47
• GRM: 4.5

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: 28.2%
• Equity multiple: 2.17×
• Total profit: $24,639
• Equity at exit: $11,168

10-year hold

• IRR: 35.7%
• Equity multiple: 4.28×
• Total profit: $68,868
• Equity at exit: $6,476

Cash invested: $20,972 (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 87901

• Active inventory: 91
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,386 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $577

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 53%

Sensitivity live

Price	-10% $629	-5% $603	+0% $577	+5% $551	+10% $525
Rent	-10% $468	-5% $522	+0% $577	+5% $632	+10% $687
Rate	-1.0pp $615	-0.5pp $596	base $577	+0.5pp $558	+1.0pp $538

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $74,900 Active 94 DOM
2. 2026-06-17
   days on market $74,900 Active 93 DOM
3. 2026-06-16
   days on market $74,900 Active 92 DOM
4. 2026-06-15
   days on market $74,900 Active 91 DOM
5. 2026-06-14
   days on market $74,900 Active 89 DOM
6. 2026-06-13
   days on market $74,900 Active 88 DOM
7. 2026-06-10
   days on market $74,900 Active 86 DOM
8. 2026-06-09
   days on market $74,900 Active 85 DOM
9. 2026-06-08
   days on market $74,900 Active 84 DOM
10. 2026-06-07
    days on market $74,900 Active 83 DOM
11. 2026-06-02
    days on market $74,900 Active 78 DOM
12. 2026-06-01
    days on market $74,900 Active 77 DOM
13. 2026-05-31
    days on market $74,900 Active 76 DOM
14. 2026-05-30
    days on market $74,900 Active 75 DOM
15. 2026-04-14
    price $74,900
16. 2026-04-07
    price $79,900
17. 2026-03-31
    price $84,900
18. 2026-03-16
    listed $94,900 Active
19. 2004-08-25
    soldstatus

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 22 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: $16,628
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$2,179
• Taxable income: $6,095
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $5,462/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: T Or C Municipal Schools
• NCES district ID: 3502610
• Math proficiency: 25% ▲ 1.00%
• Reading proficiency: 25% ▼ -7.00%
• Median HH income: $28,449
• Composite: 20.0/100
• National rank: #8666
• State rank: #29 of 29 in NM

Livability — Truth or Consequences

• Score: 65/100
• State rank: #60
• US rank: #13470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Truth or Consequences, NM
• Population (ZIP): 6,459

Population outlook (Sierra County) Hauer SSP2

• Today (2025): 9,498 people
• By 2030: 8,580 · -9.7%
• By 2040: 6,994 · -26.4%
• By 2050: 5,914 · -37.7%
• By 2075: 4,083 · -57.0%
• By 2100: 2,499 · -73.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Hispanic / Latino 34% Two or more races 18% Native American 5%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 83% English-only · Spanish 16% French/Haitian/Cajun 1%

Political lean MEDSL · Sierra

• 2024 margin: R (+19.2) · D 39.2% · R 58.3% · Other 2.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -12.1pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+21.5 2016: R+27.2 2012: R+18.9 2008: R+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.64%
• Current HPI: 118.3055
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.1% since first listed

5 events — show timeline

• 2026-04-14 Price Changed $74,900 NMMLS
• 2026-04-07 Price Changed $79,900 NMMLS
• 2026-03-31 Price Changed $84,900 NMMLS
• 2026-03-16 Listed $94,900 NMMLS
• 2004-08-25 Sold (Public Records) — Public Records

Property tax history

-4.8%/yr

Latest (2025): $8,010 · -45.0% YoY. Source: county tax records.