8 Bonita Ave · La Luz, NM 88337

$112,000

3 bd · 2.0 ba · 1,390 sqft · SingleFamily public records · 325 Days on market

Built 1977 9,278 sqft lot ↓ 13% since listing

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom (possible 4 bedroom) 2 bath adorable home in La Luz could be a real gem! Newer refrigerated air pack unit, and newer gas line. Owner will leave the kitchen cabinets stored in the bedroom, and the granite slabs for the kitchen counter tops. There is also a dishwasher that needs installed and a stove and refrigerator convey. The owner's suite shower is ready to be tiled. There is a converted garage that could be a 4th bedroom and/ or game room or den or made back into a garage. Home sits on a large lot with beautiful shade trees in the front yard. Call today to tour this home with so many possibilities and make it your own!

Key facts

• Newer gas line
• Converted garage
• Large lot

Tags

• NEWER GAS LINE
• CONVERTED GARAGE
• LARGE LOT
• BEAUTIFUL SHADE TREES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $153 ($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 $104k (6.9% below list).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#70 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, schools F, amenities F.
• Alamogordo Public Schools (town): math 26% / reading 39% proficiency, ranked #26 of 95 in NM (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6 units permitted in Otero County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Otero County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 325 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.

Recommended offer $98,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 325 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. 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: 0.93% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.9

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-8,453
• Equity at exit: $16,700

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $4,993
• Equity at exit: $9,684

Cash invested: $31,360 (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 88337

• Home prices YoY: -8.6%
• Active inventory: 36
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,043 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $153

Break-even live

Break-even rent $850

Max offer price $112,000

Occupancy floor 80%

Sensitivity live

Price	-10% $216	-5% $185	+0% $153	+5% $121	+10% $90
Rent	-10% $71	-5% $112	+0% $153	+5% $194	+10% $235
Rate	-1.0pp $209	-0.5pp $181	base $153	+0.5pp $124	+1.0pp $94

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Malpais Ave La Luz, NM	3.0	1.0	1015	$1,000	$0.99	45d	1	0.09mi
8 Alicia Dr La Luz, NM	3.0	1.0	960	$1,050	$1.09	22d	1	0.17mi
18 Arroyo La Luz, NM	3.0	1.0	1600	$1,500	$0.94	25d	1	1.38mi

Listing history 22 events

1. 2026-06-21
   days on market $112,000 Active 325 DOM
2. 2026-06-18
   days on market $112,000 Active 322 DOM
3. 2026-06-17
   days on market $112,000 Active 321 DOM
4. 2026-06-16
   days on market $112,000 Active 320 DOM
5. 2026-06-15
   days on market $112,000 Active 319 DOM
6. 2026-06-13
   days on market $112,000 Active 317 DOM
7. 2026-06-13
   days on market $112,000 Active 316 DOM
8. 2026-06-10
   days on market $112,000 Active 314 DOM
9. 2026-06-09
   days on market $112,000 Active 313 DOM
10. 2026-06-08
    days on market $112,000 Active 312 DOM
11. 2026-06-07
    days on market $112,000 Active 311 DOM
12. 2026-06-05
    days on market $112,000 Active 308 DOM
13. 2026-06-03
    days on market $112,000 Active 307 DOM
14. 2026-06-03
    days on market $112,000 Active 306 DOM
15. 2026-06-01
    days on market $112,000 Active 305 DOM
16. 2026-05-31
    days on market $112,000 Active 304 DOM
17. 2025-10-31
    price $112,000 645-char remark

    Show marketing remark (645 chars)

    This 3 bedroom (possible 4 bedroom) 2 bath adorable home in La Luz could be a real gem! Newer refrigerated air pack unit, and newer gas line. Owner will leave the kitchen cabinets stored in the bedroom, and the granite slabs for the kitchen counter tops. There is also a dishwasher that needs installed and a stove and refrigerator convey. The owner's suite shower is ready to be tiled. There is a converted garage that could be a 4th bedroom and/ or game room or den or made back into a garage. Home sits on a large lot with beautiful shade trees in the front yard. Call today to tour this home with so many possibilities and make it your own!

18. 2025-09-16
    price $120,000 645-char remark

    Show marketing remark (645 chars)

    This 3 bedroom (possible 4 bedroom) 2 bath adorable home in La Luz could be a real gem! Newer refrigerated air pack unit, and newer gas line. Owner will leave the kitchen cabinets stored in the bedroom, and the granite slabs for the kitchen counter tops. There is also a dishwasher that needs installed and a stove and refrigerator convey. The owner's suite shower is ready to be tiled. There is a converted garage that could be a 4th bedroom and/ or game room or den or made back into a garage. Home sits on a large lot with beautiful shade trees in the front yard. Call today to tour this home with so many possibilities and make it your own!

19. 2025-08-22
    price $125,000 645-char remark

    Show marketing remark (645 chars)

    This 3 bedroom (possible 4 bedroom) 2 bath adorable home in La Luz could be a real gem! Newer refrigerated air pack unit, and newer gas line. Owner will leave the kitchen cabinets stored in the bedroom, and the granite slabs for the kitchen counter tops. There is also a dishwasher that needs installed and a stove and refrigerator convey. The owner's suite shower is ready to be tiled. There is a converted garage that could be a 4th bedroom and/ or game room or den or made back into a garage. Home sits on a large lot with beautiful shade trees in the front yard. Call today to tour this home with so many possibilities and make it your own!

20. 2025-08-01
    listed $129,000 Active 645-char remark

    Show marketing remark (645 chars)

    This 3 bedroom (possible 4 bedroom) 2 bath adorable home in La Luz could be a real gem! Newer refrigerated air pack unit, and newer gas line. Owner will leave the kitchen cabinets stored in the bedroom, and the granite slabs for the kitchen counter tops. There is also a dishwasher that needs installed and a stove and refrigerator convey. The owner's suite shower is ready to be tiled. There is a converted garage that could be a 4th bedroom and/ or game room or den or made back into a garage. Home sits on a large lot with beautiful shade trees in the front yard. Call today to tour this home with so many possibilities and make it your own!

21. 2022-06-27
    soldstatus
22. 2014-02-18
    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: $445 · $37/mo
• Projected year-2 tax: $896 · $75/mo
• Expected delta: +$451/yr (+$38/mo · 101.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°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: $12,518
• − Mortgage interest: −$6,274
• − Property taxes: −$445
• − Insurance: −$560
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$3,258
• Taxable loss: −$22
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $1,841/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: Alamogordo Public Schools
• NCES district ID: 3500030
• Math proficiency: 26% —
• Reading proficiency: 39% —
• Median HH income: $42,194
• Composite: 30.24/100
• National rank: #11572
• State rank: #26 of 95 in NM

Livability — La Luz

• Score: 64/100
• State rank: #70
• US rank: #14588

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Luz, NM
• Population (ZIP): 1,945

Population outlook (Otero County) Hauer SSP2

• Today (2025): 62,967 people
• By 2030: 62,164 · -1.3%
• By 2040: 60,253 · -4.3%
• By 2050: 58,575 · -7.0%
• By 2075: 55,411 · -12.0%
• By 2100: 48,551 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 27% Two or more races 19%
• Hispanic origin (detail): Mexican 20% Puerto Rican 3%
• Common ancestry: Iranian 3% Lithuanian 2% Portuguese 1%
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Otero

• 2024 margin: Strong R (+27.0) · D 35.4% · R 62.4% · Other 2.2%
• 2008→2024 swing: -7.7pp toward R · 2008: -19.3pp · 2024: -27.0pp
• All cycles: 2024: R+27.0 2020: R+25.6 2016: R+29.1 2012: R+28.0 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.41%
• Current HPI: 163.7641
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-13.2% since first listed

6 events — show timeline

• 2025-10-31 Price Changed $112,000 OCAOR
• 2025-09-16 Price Changed $120,000 OCAOR
• 2025-08-22 Price Changed $125,000 OCAOR
• 2025-08-01 Listed $129,000 OCAOR
• 2022-06-27 Sold (Public Records) — Public Records
• 2014-02-18 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $445 · +3.5% YoY. Source: county tax records.