6255 Quay Ag Rd

Tucumcari, NM 88401

$115,000C-

3 bd · 2.0 ba · 1,266 sqft · Built 1984 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,095/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $129/mo
• Annual: $1,553/yr
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• 1% rule: 0.95%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k.
• 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).
• It's been on market 29 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (4.8% below list) — sets the bar for 1% rule.
• 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.
• 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.
• Quay County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• 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?
• 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?
• 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.