144 Berrendo Ave · McIntosh, NM 87035

$120,000

1 bd · 1.5 ba · 742 sqft · Other · 83 Days on market

Built 1971 3.00 ac lot ↓ 20% 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 +23.7/30.0
• Appreciation +8.4/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Great opportunity to own THREE lots in McIntosh, offering space, flexibility, and endless potential. Two of the lots are fully fenced, providing added functionality and privacy. The main parcel features multiple outbuildings including two garages, a storage container, greenhouse, and storage shed--ideal for projects, storage, or hobby use. Property is equipped with a full water haul system with a new pump, irrigation setup, and a newer septic system already in place. A manufactured home is present on the property and will convey in its current condition. This property is perfect for someone seeking wide open spaces, fresh air, and the chance to create their own vision from the ground up. Property is being sold as-is. Cash sale only.

Key facts

• Fully fenced
• Irrigation setup
• Three lots

Tags

• THREE LOTS
• FULLY FENCED
• MULTIPLE OUTBUILDINGS
• WATER HAUL SYSTEM
• IRRIGATION SETUP
• NEWER SEPTIC SYSTEM

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 49/100 on livability (#287 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Estancia Municipal Schools (rural): math 15% / reading 30% proficiency, ranked #58 of 95 in NM (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP.

Forward outlook

• In year one you build about $9k of equity ($830 loan paydown + $8k appreciation (6.7% local appreciation)).
• Torrance County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 1.12% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.15%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.6%
• Equity multiple: 2.62×
• Total profit: $54,383
• Equity at exit: $80,957

10-year hold

• IRR: 22.0%
• Equity multiple: 5.39×
• Total profit: $147,491
• Equity at exit: $151,829

Cash invested: $33,600 (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 87035

• Home prices YoY: 3.7%
• Active inventory: 22
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,338 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $228

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $311	-5% $270	+0% $228	+5% $187	+10% $145
Rent	-10% $122	-5% $175	+0% $228	+5% $281	+10% $334
Rate	-1.0pp $289	-0.5pp $259	base $228	+0.5pp $197	+1.0pp $165

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 83 DOM
2. 2026-06-17
   days on market $120,000 Active 82 DOM
3. 2026-06-16
   days on market $120,000 Active 81 DOM
4. 2026-06-15
   days on market $120,000 Active 80 DOM
5. 2026-06-13
   days on market $120,000 Active 78 DOM
6. 2026-06-10
   days on market $120,000 Active 75 DOM
7. 2026-06-09
   days on market $120,000 Active 74 DOM
8. 2026-06-08
   days on market $120,000 Active 73 DOM
9. 2026-06-07
   days on market $120,000 Active 72 DOM
10. 2026-06-03
    days on market $120,000 Active 68 DOM
11. 2026-06-02
    days on market $120,000 Active 67 DOM
12. 2026-06-01
    days on market $120,000 Active 66 DOM
13. 2026-05-31
    days on market $120,000 Active 65 DOM
14. 2026-05-08
    price $120,000 742-char remark

    Show marketing remark (742 chars)

    Great opportunity to own THREE lots in McIntosh, offering space, flexibility, and endless potential. Two of the lots are fully fenced, providing added functionality and privacy. The main parcel features multiple outbuildings including two garages, a storage container, greenhouse, and storage shed--ideal for projects, storage, or hobby use. Property is equipped with a full water haul system with a new pump, irrigation setup, and a newer septic system already in place. A manufactured home is present on the property and will convey in its current condition. This property is perfect for someone seeking wide open spaces, fresh air, and the chance to create their own vision from the ground up. Property is being sold as-is. Cash sale only.

15. 2026-05-05
    price $140,000 742-char remark

    Show marketing remark (742 chars)

    Great opportunity to own THREE lots in McIntosh, offering space, flexibility, and endless potential. Two of the lots are fully fenced, providing added functionality and privacy. The main parcel features multiple outbuildings including two garages, a storage container, greenhouse, and storage shed--ideal for projects, storage, or hobby use. Property is equipped with a full water haul system with a new pump, irrigation setup, and a newer septic system already in place. A manufactured home is present on the property and will convey in its current condition. This property is perfect for someone seeking wide open spaces, fresh air, and the chance to create their own vision from the ground up. Property is being sold as-is. Cash sale only.

16. 2026-03-26
    listed $150,000 Active 742-char remark

    Show marketing remark (742 chars)

    Great opportunity to own THREE lots in McIntosh, offering space, flexibility, and endless potential. Two of the lots are fully fenced, providing added functionality and privacy. The main parcel features multiple outbuildings including two garages, a storage container, greenhouse, and storage shed--ideal for projects, storage, or hobby use. Property is equipped with a full water haul system with a new pump, irrigation setup, and a newer septic system already in place. A manufactured home is present on the property and will convey in its current condition. This property is perfect for someone seeking wide open spaces, fresh air, and the chance to create their own vision from the ground up. Property is being sold as-is. Cash sale only.

17. 2026-02-04
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 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: $16,062
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$3,491
• Taxable income: $879
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $2,526/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: Estancia Municipal Schools
• NCES district ID: 3500930
• Math proficiency: 15% —
• Reading proficiency: 30% —
• Median HH income: $34,557
• Composite: 21.62/100
• National rank: #13611
• State rank: #58 of 95 in NM

Livability — McIntosh

• Score: 49/100
• State rank: #287
• US rank: #25757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McIntosh, NM
• City population: 119
• Population (ZIP): 6,847

Population outlook (Torrance County) Hauer SSP2

• Today (2025): 13,807 people
• By 2030: 12,946 · -6.2%
• By 2040: 11,214 · -18.8%
• By 2050: 9,802 · -29.0%
• By 2075: 7,634 · -44.7%
• By 2100: 5,637 · -59.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 45% White 44% Two or more races 19% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 26% Cuban 1%
• Common ancestry: Slovak 2% Lithuanian 1% Romanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 79% English-only · Spanish 17% Chinese 1% Tagalog/Filipino 1%

Political lean MEDSL · Torrance

• 2024 margin: Solid R (+38.1) · D 29.9% · R 68.0% · Other 2.2%
• 2008→2024 swing: -28.8pp toward R · 2008: -9.3pp · 2024: -38.1pp
• All cycles: 2024: R+38.1 2020: R+33.4 2016: R+30.8 2012: R+17.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.72%
• Current HPI: 186.3932
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.0% since first listed

4 events — show timeline

• 2026-05-08 Price Changed $120,000 Southwest MLS
• 2026-05-05 Price Changed $140,000 Southwest MLS
• 2026-03-26 Listed $150,000 Southwest MLS
• 2026-02-04 Sold (Public Records) — Public Records

Property tax history

-21.5%/yr

Latest (2022): $5 · +0.0% YoY. Source: county tax records.