6255 Quay Ag Rd · Tucumcari, NM 88401

$115,000

3 bd · 2.0 ba · 1,266 sqft · SingleFamily public records · 29 Days on market

Built 1984 2.99 ac 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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Appreciation +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

This ranch-style home with 2 bedrooms and 2 bathrooms sits on 2.99 acres suited for those seeking rural living. The residence combines residential comfort with outdoor potential, making it an option for buyers interested in a horse facility with working land. The interior provides straightforward living spaces across a single-level layout. A wood-burning stove offers an alternative heating source and focal point within the home. Outside, the acreage features a fenced pasture area ideal for equestrian use or livestock management. A garden space allows residents to grow produce or ornamental plantings. The combination of pasture, garden, and residential structures creates a functional rural s

Key facts

• Working land
• Horse facility
• Equestrian use

Tags

• HORSE FACILITY
• WORKING LAND
• WOOD BURNING STOVE
• FENCED PASTURE
• EQUESTRIAN USE
• LIVESTOCK MANAGEMENT

Property features AI

Finance

• Other: Horses allowed (corral(s) on site)

Exterior

• Parking: No garage
• Utilities: Well water; Septic tank
• Home design: Residential property; One story
• Construction: Brick and frame construction; Metal roof
• Exterior features: Wire fencing; Corrals; Shed(s); Natural vegetation

Interior

• Kitchen: Dishwasher; Free-standing range
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Aluminum window frames; Double-pane windows; Free-standing wood-burning stove fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (4.8% below list).
• Recommended offer: $110k (4.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#166 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools F, crime F, amenities F.
• Tucumcari Public Schools (town): math 17% / reading 35% proficiency, ranked #47 of 95 in NM (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 26 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Quay County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Recommended offer $109,506 (4.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.8

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-10,410
• Equity at exit: $17,147

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,472
• Equity at exit: $9,943

Cash invested: $32,200 (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 88401

• Home prices YoY: -2.7%
• Active inventory: 26
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,095 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$85 /mo · $1,016/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $129

Break-even live

Break-even rent $931

Max offer price $115,000

Occupancy floor 83%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $115,000 Active 29 DOM
2. 2026-06-17
   days on market $115,000 Active 28 DOM
3. 2026-06-16
   days on market $115,000 Active 27 DOM
4. 2026-06-15
   days on market $115,000 Active 26 DOM
5. 2026-06-13
   days on market $115,000 Active 24 DOM
6. 2026-06-12
   days on market $115,000 Active 23 DOM
7. 2026-06-09
   days on market $115,000 Active 20 DOM
8. 2026-06-08
   days on market $115,000 Active 19 DOM
9. 2026-06-07
   days on market $115,000 Active 18 DOM
10. 2026-06-05
    days on market $115,000 Active 16 DOM
11. 2026-06-04
    days on market $115,000 Active 14 DOM
12. 2026-06-02
    days on market $115,000 Active 13 DOM
13. 2026-06-01
    days on market $115,000 Active 12 DOM
14. 2026-05-31
    days on market $115,000 Active 11 DOM
15. 2026-05-20
    listed $115,000 Active
16. 2025-04-03
    soldstatus
17. 2025-03-31
    soldstatus
18. 2012-08-16
    soldstatus
19. 2008-01-25
    soldstatus

ⓘ 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: $1,016 · $85/mo
• Projected year-2 tax: $1,016 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,141
• − Mortgage interest: −$6,442
• − Property taxes: −$1,016
• − Insurance: −$575
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$3,345
• Taxable loss: −$340
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $1,635/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: Tucumcari Public Schools
• NCES district ID: 3502640
• Math proficiency: 17% —
• Reading proficiency: 35% —
• Median HH income: $27,627
• Composite: 23.71/100
• National rank: #13236
• State rank: #47 of 95 in NM

Livability — Tucumcari

• Score: 57/100
• State rank: #166
• US rank: #22140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,689

Population outlook (Quay County) Hauer SSP2

• Today (2025): 7,255 people
• By 2030: 6,656 · -8.3%
• By 2040: 5,560 · -23.4%
• By 2050: 4,702 · -35.2%
• By 2075: 3,404 · -53.1%
• By 2100: 2,593 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 53% White 40% Two or more races 23% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 30% Puerto Rican 1%
• Common ancestry: Iranian 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Quay

• 2024 margin: Solid R (+40.9) · D 28.5% · R 69.4% · Other 2.1%
• 2008→2024 swing: -20.4pp toward R · 2008: -20.5pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.8 2016: R+33.6 2012: R+22.0 2008: R+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.16%
• Current HPI: 115.4103
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

5 events — show timeline

• 2026-05-20 Listed $115,000 NMMLS
• 2025-04-03 Sold (Public Records) — Public Records
• 2025-03-31 Sold (Public Records) — Public Records
• 2012-08-16 Sold (Public Records) — Public Records
• 2008-01-25 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,016 · +36.5% YoY. Source: county tax records.