1032 Ash Ave · Las Cruces, NM 88001

$185,000

3 bd · 2.0 ba · 1,998 sqft · SingleFamily public records · 9 Days on market

Built 1986 0.28 ac lot Est $138k · 34% over

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Why this score? — see what drove the F 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 +12.4/30.0
• Schools +4.6/10.0
• DSCR +3.7/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This home offers approximately 1,998 square feet of living space and is situated on a generously sized lot in the heart of Las Cruces. Originally built in 1985, the property features a converted garage that expands the home's usable living area. This versatile space could serve as a fourth bedroom, game room, home office, flex space, or a variety of other uses to suit your needs. The home would benefit from updating and refurbishment, presenting an excellent opportunity for buyers to add their own style and improvements. With some vision and investment, this property has great potential to shine. The asking price reflects the home's current condition and provides an opportunity to build equ

Key facts

• 0.28 acre lot
• Built 1986
• Listed 8 days

Property features AI

Finance

• Other: Located in the Loma Heights subdivision; Directions: N Solano Dr, E on Ash St.

Exterior

• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One-level home; Brick construction
• Construction: Built with brick exterior
• Exterior features: Chain link fencing around front and back yard; Lot about 0.28 acres (.25 to .50 acre)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-30 ($-357/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (20.9% below list).
• Recommended offer: $146k (20.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#120 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities D+, schools D-, crime F.
• Las Cruces Public Schools (urban): math 42% / reading 68% proficiency, ranked #5 of 29 in NM (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 143 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• At $1,463/mo this rent would consume 53% of the median local household income ($33k/yr) (locally 2590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $155k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,305 (20.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $137,862
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1735 E Madrid Ave	0.58mi	3/2.0	1,948 (-2%)	2mo	$135,000	$69	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-31,244
• Equity at exit: $27,584

10-year hold

• IRR: -8.2%
• Equity multiple: 0.48×
• Total profit: $-27,036
• Equity at exit: $15,995

Cash invested: $51,800 (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 88001

• Rents YoY: 3.5%
• Active inventory: 143
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$970
• Tax from tax record: −$138 /mo · $1,660/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-30

Break-even live

Break-even rent $1,501

Max offer price $179,740

Occupancy floor 97%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1595 Carrillo Ct Unit A Las Cruces, NM	3.0	2.0	1405	$1,295	$0.92	44d	1	0.25mi
2081 Nehemiah Ct Las Cruces, NM	3.0	1.5	1380	$1,700	$1.23	21d	1	0.28mi
1000 Coyote Trl Las Cruces, NM	3.0	2.0	1280	$1,524	$1.19	13d	1	0.43mi
2019 Evelyn St Las Cruces, NM	3.0	2.0	1712	$1,450	$0.85	44d	1	0.60mi
169 Oban Ct Las Cruces, NM	3.0	2.0	1289	$1,350	$1.05	13d	1	0.77mi
2711 Topley Ave Las Cruces, NM	3.0	2.0	1510	$1,650	$1.09	44d	1	1.01mi
2711 Topley Ave Unit NA Las Cruces, NM	3.0	2.0	1510	$1,650	$1.09	21d	1	1.01mi
2035 Rosedale Dr Las Cruces, NM	3.0	2.0	1425	$1,550	$1.09	13d	1	1.31mi
654 Rouault Ave Las Cruces, NM	3.0	2.0	1394	$1,350	$0.97	44d	1	1.36mi
2040 Carlyle Dr Las Cruces, NM	3.0	2.0	1852	$1,595	$0.86	44d	1	1.40mi
1775 Roadrunner Pkwy Unit 2601 Las Cruces, NM	3.0	2.0	1255	$1,980	$1.58	13d	1	1.41mi
1775 Roadrunner Pkwy Unit 2901 Las Cruces, NM	2.0	2.0	1246	$1,750	$1.40	21d	1	1.41mi

Listing history 9 events

1. 2026-06-18
   days on market $185,000 Active 9 DOM
2. 2026-06-17
   days on market $185,000 Active 8 DOM
3. 2026-06-16
   days on market $185,000 Active 7 DOM
4. 2026-06-15
   days on market $185,000 Active 6 DOM
5. 2026-06-14
   days on market $185,000 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   days on market $185,000 Active 3 DOM
8. 2026-06-10
   remarks 459-char remark
9. 2026-06-10
   listed $185,000 Active 1 DOM

ⓘ 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: $1,660 · $138/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 25 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: $17,557
• − Mortgage interest: −$10,363
• − Property taxes: −$1,660
• − Insurance: −$925
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$5,382
• Taxable loss: −$3,582
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $502/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: Las Cruces Public Schools
• NCES district ID: 3501500
• Math proficiency: 42% ▲ 24.00%
• Reading proficiency: 68% ▲ 35.00%
• Median HH income: $41,157
• Composite: 45.98/100
• National rank: #2535
• State rank: #5 of 29 in NM

Livability — Las Cruces

• Score: 59/100
• State rank: #120
• US rank: #19687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Las Cruces, NM
• County: Dona Ana County · 144,044 people
• City population: 131,421
• Metro: Las Cruces, NM
• Population (ZIP): 37,690
• Household income: $33,087
• Rent vs Own: 58.3% rent · 41.7% own
• Severe rent burden: 2590.0

Population outlook (Doña Ana County) Hauer SSP2

• Today (2025): 219,177 people
• By 2030: 220,967 · +0.8%
• By 2040: 222,775 · +1.6%
• By 2050: 223,576 · +2.0%
• By 2075: 228,461 · +4.2%
• By 2100: 214,536 · -2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 24% White 21% Black 3% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 59%
• Common ancestry: Slovak 1% Italian 1% Romanian 1%
• Foreign-born: 12% · Canada, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Doña Ana

• 2024 margin: Lean D (+9.8) · D 53.8% · R 44.0% · Other 2.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.3 2016: D+18.0 2012: D+14.9 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -239.44%
• Current HPI: 219.0404
• Rent YoY: ▲ 3.45%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+19.4% since first listed

2 events — show timeline

• 2026-06-08 Listed $185,000 SNMMLS as distributed by MLS GRID
• 2021-07-06 Sold (Public Records) $155,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,660 · +2.4% YoY. Source: county tax records.