724 Elko Ave · Grants, NM 87020

$169,000

3 bd · 3.0 ba · 2,363 sqft · SingleFamily · 135 Days on market

Built 1959 8,072 sqft lot $72/sqft · 25% below area Est $225k · 25% under ↓ 6% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• DSCR +3.2/10.0
• Livability +3.0/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome! This is a great solid single story 4 bedroom home offering over 2300 square-feet located in Grants , New Mexico! This one is ready for its new owner. Home offers 4 four bedrooms. 2 of the large bedrooms have private full baths & walk in closets. One bedroom has its own entry & sits away from the other bedroom & could make a great office! Seriously, Lots of space. There is a jack and jill bathroom between hallway & den, hardwood floors, a beautiful den with wood-burning fireplace, ceiling beams along with a full wall custom bar, two living areas and a very large laundry room loaded with cabinets and storage space. Two car covered carport and a one oversized one car garage with storage. It does have a dog run, shred, inground pool and a hot tub. Seller has no knowledge.

Key facts

• Private full baths
• Custom bar
• Two living areas

Tags

• PRIVATE FULL BATHS
• WALK IN CLOSETS
• JACK AND JILL BATHROOM
• WOOD BURNING FIREPLACE
• CUSTOM BAR
• TWO LIVING AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-67 ($-804/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (23.2% below list).
• Recommended offer: $130k (23.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#115 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• Grants-Cibola County Schools (town): math 14% / reading 22% proficiency, ranked #74 of 95 in NM (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 76 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cibola County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,788 (23.2% 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 135 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

• ARV (median comp): $225,000
• List price: $169,000
• Delta: -24.89%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
820 Mt Taylor Ave	0.15mi	4/3.0 (+1)	2,406 (+2%)	8mo	$310,000	$129	78
920 Jackson Ave	0.36mi	3/2.0	2,016 (-15%)	0mo	$222,500	$110	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-31,682
• Equity at exit: $25,198

10-year hold

• IRR: -11.8%
• Equity multiple: 0.30×
• Total profit: $-33,195
• Equity at exit: $14,612

Cash invested: $47,320 (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 87020

• Active inventory: 76
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-67

Break-even live

Break-even rent $1,383

Max offer price $157,157

Occupancy floor —

Sensitivity live

Price	-10% $29	-5% $-19	+0% $-67	+5% $-115	+10% $-163
Rent	-10% $-170	-5% $-118	+0% $-67	+5% $-16	+10% $35
Rate	-1.0pp $18	-0.5pp $-24	base $-67	+0.5pp $-111	+1.0pp $-155

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $169,000 Active 135 DOM
2. 2026-06-17
   days on market $169,000 Active 134 DOM
3. 2026-06-16
   days on market $169,000 Active 133 DOM
4. 2026-06-15
   days on market $169,000 Active 132 DOM
5. 2026-06-13
   days on market $169,000 Active 130 DOM
6. 2026-06-10
   days on market $169,000 Active 127 DOM
7. 2026-06-09
   days on market $169,000 Active 126 DOM
8. 2026-06-08
   days on market $169,000 Active 125 DOM
9. 2026-06-07
   days on market $169,000 Active 124 DOM
10. 2026-06-03
    days on market $169,000 Active 120 DOM
11. 2026-06-02
    days on market $169,000 Active 119 DOM
12. 2026-06-01
    days on market $169,000 Active 118 DOM
13. 2026-05-31
    days on market $169,000 Active 117 DOM
14. 2026-02-01
    listed $169,000 Active 811-char remark

    Show marketing remark (811 chars)

    Welcome! This is a great solid single story 4 bedroom home offering over 2300 square-feet located in Grants , New Mexico! This one is ready for its new owner. Home offers 4 four bedrooms. 2 of the large bedrooms have private full baths & walk in closets. One bedroom has its own entry & sits away from the other bedroom & could make a great office! Seriously, Lots of space. There is a jack and jill bathroom between hallway & den, hardwood floors, a beautiful den with wood-burning fireplace, ceiling beams along with a full wall custom bar, two living areas and a very large laundry room loaded with cabinets and storage space. Two car covered carport and a one oversized one car garage with storage. It does have a dog run, shred, inground pool and a hot tub. Seller has no knowledge.

15. 2026-01-17
    listed $169,000 Active 965-char remark

    Show marketing remark (965 chars)

    Welcome ! WOW…This is a great solid single story 4 bedroom home offering over 2300 square-feet located in Grants , New Mexico! This one is ready for its new owner. Home offers 4 four bedrooms. 2 of the large bedrooms have private full baths & walk in closets! One bedroom has its own entry and sits away from the other bedroom and could make a great office! Seriously, Lots of space. There is a jack and jill bathroom between hallway and den, hardwood floors, a beautiful den with a wood-burning fireplace , ceiling beams along with a full wall custom bar, two living areas and a very large laundry room loaded with cabinets and storage space. Two car covered carport and a one oversized one car garage with storage. It does have a dog run, shred, inground pool and a hot tub. Seller has no knowledge of the home condition or condition of the pool or hot tub. Will be sold as is. Great property at a great price! Call and make your appointment today.

16. 2025-10-10
    price $179,000

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $1,628 · $136/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $15,575
• − Mortgage interest: −$9,467
• − Property taxes: −$1,628
• − Insurance: −$845
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$4,916
• Taxable loss: −$3,774
• Est. tax savings @ 24.0%: +$906
• After-tax cash flow: $101/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: Grants-Cibola County Schools
• NCES district ID: 3501170
• Math proficiency: 14% —
• Reading proficiency: 22% —
• Median HH income: $35,996
• Composite: 18.23/100
• National rank: #14064
• State rank: #74 of 95 in NM

Livability — Grants

• Score: 60/100
• State rank: #115
• US rank: #19558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grants, NM
• Population (ZIP): 11,874

Population outlook (Cibola County) Hauer SSP2

• Today (2025): 26,324 people
• By 2030: 25,594 · -2.8%
• By 2040: 24,117 · -8.4%
• By 2050: 22,568 · -14.3%
• By 2075: 18,653 · -29.1%
• By 2100: 12,719 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 27% Two or more races 19% Native American 13% Black 4%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 5% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 69% English-only · Spanish 24% Vietnamese 1%

Political lean MEDSL · Cibola

• 2024 margin: Toss-up / Even · D 49.6% · R 48.0% · Other 2.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 29.6pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.7 2016: D+6.8 2012: D+23.8 2008: D+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.40%
• Current HPI: 167.6417
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.6% since first listed

3 events — show timeline

• 2026-02-01 Listed $169,000 Southwest MLS
• 2026-01-17 Listed $169,000 NMMLS
• 2025-10-10 Price Changed $179,000 NMMLS

Property tax history

+3.6%/yr

Latest (2025): $1,628 · +3.7% YoY. Source: county tax records.