601 East Ave · Carrizozo, NM 88301

$150,000

3 bd · 1.5 ba · 1,642 sqft · Other public records · 310 Days on market

Built 1940 8,276 sqft lot

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Why this score? — see what drove the D+ 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 +14.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This clean 3-bedroom, 1.5-bath home offers fresh interior paint and plenty of space inside and out. A versatile bonus/craft room adds extra functionality--ideal for creative projects, a home office, or playroom. Enjoy a spacious, fully fenced yard perfect for pets, gardening, or outdoor gatherings. Located in a quiet rural neighborhood, this home provides a peaceful setting with easy access to nearby amenities. Move-in ready and full of potential--come see all it has to offer!

Key facts

• Fully fenced yard
• 8,276 sq ft lot
• Built 1940

Tags

• FULLY FENCED YARD
• QUIET RURAL NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $-82 ($-983/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (19.5% below list).
• Recommended offer: $121k (19.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#106 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities D+, housing D, schools F.
• Carrizozo Municipal Schools (rural): math 25% / reading 75% proficiency, ranked #11 of 29 in NM (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP; 92 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.2% local appreciation)).
• Lincoln County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 310 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,719 (19.5% 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. It's been on market 310 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.80% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.16×
• Total profit: $6,867
• Equity at exit: $61,063

10-year hold

• IRR: 6.7%
• Equity multiple: 1.94×
• Total profit: $39,513
• Equity at exit: $89,414

Cash invested: $42,000 (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 88301

• Home prices YoY: 2.7%
• Active inventory: 54
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$62
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-82

Break-even live

Break-even rent $1,311

Max offer price $135,523

Occupancy floor —

Sensitivity live

Price	-10% $3	-5% $-39	+0% $-82	+5% $-124	+10% $-167
Rent	-10% $-177	-5% $-130	+0% $-82	+5% $-34	+10% $13
Rate	-1.0pp $-6	-0.5pp $-44	base $-82	+0.5pp $-121	+1.0pp $-160

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $150,000 Active 310 DOM
2. 2026-06-18
   days on market $150,000 Active 308 DOM
3. 2026-06-17
   days on market $150,000 Active 307 DOM
4. 2026-06-16
   days on market $150,000 Active 306 DOM
5. 2026-06-15
   days on market $150,000 Active 305 DOM
6. 2026-06-13
   days on market $150,000 Active 303 DOM
7. 2026-06-12
   days on market $150,000 Active 302 DOM
8. 2026-06-09
   days on market $150,000 Active 299 DOM
9. 2026-06-08
   days on market $150,000 Active 298 DOM
10. 2026-06-07
    days on market $150,000 Active 297 DOM
11. 2026-06-07
    days on market $150,000 Active 296 DOM
12. 2026-06-04
    days on market $150,000 Active 293 DOM
13. 2026-06-02
    days on market $150,000 Active 292 DOM
14. 2026-06-01
    days on market $150,000 Active 291 DOM
15. 2026-05-31
    days on market $150,000 Active 290 DOM
16. 2026-04-20
    price $150,000 481-char remark

    Show marketing remark (481 chars)

    This clean 3-bedroom, 1.5-bath home offers fresh interior paint and plenty of space inside and out. A versatile bonus/craft room adds extra functionality--ideal for creative projects, a home office, or playroom. Enjoy a spacious, fully fenced yard perfect for pets, gardening, or outdoor gatherings. Located in a quiet rural neighborhood, this home provides a peaceful setting with easy access to nearby amenities. Move-in ready and full of potential--come see all it has to offer!

17. 2025-10-21
    price $160,000 481-char remark

    Show marketing remark (481 chars)

    This clean 3-bedroom, 1.5-bath home offers fresh interior paint and plenty of space inside and out. A versatile bonus/craft room adds extra functionality--ideal for creative projects, a home office, or playroom. Enjoy a spacious, fully fenced yard perfect for pets, gardening, or outdoor gatherings. Located in a quiet rural neighborhood, this home provides a peaceful setting with easy access to nearby amenities. Move-in ready and full of potential--come see all it has to offer!

18. 2025-08-15
    listed $170,000 Active 481-char remark

    Show marketing remark (481 chars)

    This clean 3-bedroom, 1.5-bath home offers fresh interior paint and plenty of space inside and out. A versatile bonus/craft room adds extra functionality--ideal for creative projects, a home office, or playroom. Enjoy a spacious, fully fenced yard perfect for pets, gardening, or outdoor gatherings. Located in a quiet rural neighborhood, this home provides a peaceful setting with easy access to nearby amenities. Move-in ready and full of potential--come see all it has to offer!

19. 2021-06-29
    soldstatus 648-char remark

    Show marketing remark (648 chars)

    601 E. Ave is a 2 bedroom 1.5 bath home (garage conversion with a 3rd bedroom currently being used in that space with a storage room on the 2nd half of the conversion). Enter through front door into living room with large windows to back yard, kitchen and formal dining room off living room. Down hall off dining to full bath and 2 bedrooms each with double closets. Kitchen opens from living room. Off kitchen is door to large level back yard. Converted garage to left off kitchen used presently as 3rd bedroom and storage room. Washer/Dryer, water heater and half bath off kitchen at end of short hall. Full 11/2020 inspection report from seller.

20. 2021-06-29
    soldstatus

    Show marketing remark (648 chars)

    601 E. Ave is a 2 bedroom 1.5 bath home (garage conversion with a 3rd bedroom currently being used in that space with a storage room on the 2nd half of the conversion). Enter through front door into living room with large windows to back yard, kitchen and formal dining room off living room. Down hall off dining to full bath and 2 bedrooms each with double closets. Kitchen opens from living room. Off kitchen is door to large level back yard. Converted garage to left off kitchen used presently as 3rd bedroom and storage room. Washer/Dryer, water heater and half bath off kitchen at end of short hall. Full 11/2020 inspection report from seller.

21. 2020-12-03
    listed $90,000 648-char remark

    Show marketing remark (648 chars)

    601 E. Ave is a 2 bedroom 1.5 bath home (garage conversion with a 3rd bedroom currently being used in that space with a storage room on the 2nd half of the conversion). Enter through front door into living room with large windows to back yard, kitchen and formal dining room off living room. Down hall off dining to full bath and 2 bedrooms each with double closets. Kitchen opens from living room. Off kitchen is door to large level back yard. Converted garage to left off kitchen used presently as 3rd bedroom and storage room. Washer/Dryer, water heater and half bath off kitchen at end of short hall. Full 11/2020 inspection report from seller.

22. 2008-04-29
    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: $736 · $61/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$464/yr (+$39/mo · 63.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 5 d/yr ≥93°F today · 16 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: $14,486
• − Mortgage interest: −$8,402
• − Property taxes: −$736
• − Insurance: −$2,252
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$4,364
• Taxable loss: −$3,586
• Est. tax savings @ 24.0%: +$861
• After-tax cash flow: $-123/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: Carrizozo Municipal Schools
• NCES district ID: 3500330
• Math proficiency: 25% ▲ 15.00%
• Reading proficiency: 75% ▲ 40.00%
• Median HH income: $31,699
• Composite: 40.83/100
• National rank: #3633
• State rank: #11 of 29 in NM

Livability — Carrizozo

• Score: 60/100
• State rank: #106
• US rank: #18817

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carrizozo, NM
• Population (ZIP): 1,269

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 16,903 people
• By 2030: 15,556 · -8.0%
• By 2040: 13,064 · -22.7%
• By 2050: 10,991 · -35.0%
• By 2075: 7,619 · -54.9%
• By 2100: 5,966 · -64.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 55% Two or more races 41% White 32% Native American 2%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Slovak 5% Italian 1% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 64% English-only · Spanish 34% French/Haitian/Cajun 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+38.5) · D 29.8% · R 68.3% · Other 1.9%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.4pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+36.4 2016: R+40.2 2012: R+32.7 2008: R+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.23%
• Current HPI: 85.6064
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+66.7% since first listed

7 events — show timeline

• 2026-04-20 Price Changed $150,000 RLCAR
• 2025-10-21 Price Changed $160,000 RLCAR
• 2025-08-15 Listed $170,000 RLCAR
• 2021-06-29 Sold (Public Records) — Public Records
• 2021-06-29 Sold (MLS) — RLCAR
• 2020-12-03 Listed $90,000 RLCAR
• 2008-04-29 Sold (Public Records) — Public Records

Property tax history

+9.4%/yr

Latest (2025): $736 · +0.2% YoY. Source: county tax records.