9480 Rigel St · Butterfield Park, NM 88012

$149,500

3 bd · 2.0 ba · 1,144 sqft · Manufactured public records · 108 Days on market

Built 1974 0.52 ac lot

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.6/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This 3 bed, 1-3/4 bath, plus bonus room, manufactured home is calling your name! Great for investment or a place to call Home! Its sits on a huge half an acre of Prime New Mexico land!! All kitchen appliances and washer and dryer convey with the sale. Has a huge storage and 1 car garage on the side. Close to schools, shopping etc. Has great features like refrigerated air for those hot New Mexico summers and a large metal carport. . Priced to sell so come take a peek before its GONE!

Key facts

• Refrigerated air
• Huge storage
• Large metal carport

Tags

• PRIME NEW MEXICO LAND
• HUGE STORAGE
• REFRIGERATED AIR
• LARGE METAL CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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); 591 active listings in the ZIP; 964 units permitted in Doña Ana County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,045 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.52% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $713
• Equity at exit: $22,291

10-year hold

• IRR: 10.6%
• Equity multiple: 1.85×
• Total profit: $35,490
• Equity at exit: $12,926

Cash invested: $41,860 (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 88012

• Home prices YoY: -26.2%
• Rents YoY: 3.5%
• Active inventory: 591
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$784
• Tax est. 1.5%: −$187 /mo · $2,242/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $376

Break-even live

Break-even rent $1,308

Max offer price $149,500

Occupancy floor 74%

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $149,500 Active 108 DOM
2. 2026-06-17
   days on market $149,500 Active 107 DOM
3. 2026-06-16
   days on market $149,500 Active 106 DOM
4. 2026-06-15
   days on market $149,500 Active 105 DOM
5. 2026-06-14
   days on market $149,500 Active 103 DOM
6. 2026-06-13
   days on market $149,500 Active 102 DOM
7. 2026-06-10
   days on market $149,500 Active 100 DOM
8. 2026-06-09
   days on market $149,500 Active 99 DOM
9. 2026-06-08
   days on market $149,500 Active 98 DOM
10. 2026-06-07
    days on market $149,500 Active 97 DOM
11. 2026-06-02
    days on market $149,500 Active 92 DOM
12. 2026-06-01
    days on market $149,500 Active 91 DOM
13. 2026-05-31
    days on market $149,500 Active 90 DOM
14. 2026-05-30
    days on market $149,500 Active 89 DOM
15. 2026-03-02
    listed $149,500 Active 501-char remark

    Show marketing remark (501 chars)

    Welcome Home! This 3 bed, 1-3/4 bath, plus bonus room, manufactured home is calling your name! Great for investment or a place to call Home! Its sits on a huge half an acre of Prime New Mexico land!! All kitchen appliances and washer and dryer convey with the sale. Has a huge storage and 1 car garage on the side. Close to schools, shopping etc. Has great features like refrigerated air for those hot New Mexico summers and a large metal carport. . Priced to sell so come take a peek before its GONE!

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 5 d/yr ≥97°F today · 15 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: $21,411
• − Mortgage interest: −$8,374
• − Property taxes: −$2,242
• − Insurance: −$748
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$4,349
• Taxable income: $2,272
• Est. tax owed @ 24.0%: −$545
• After-tax cash flow: $3,972/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 — Butterfield Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Dona Ana County · 144,044 people
• Metro: Las Cruces, NM
• Population (ZIP): 33,158
• Household income: $69,052
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 717.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 32% Two or more races 25% Native American 2% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Slovak 2% Russian 1% Iranian 1%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 65% English-only · Spanish 33%

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: ▼ -66.04%
• Current HPI: 185.7733
• Rent YoY: ▲ 3.52%
• Metro: Las Cruces, NM
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-02 Listed $149,500 SNMMLS as distributed by MLS GRID

Property tax history

+0.4%/yr

Latest (2025): $264 · +3.0% YoY. Source: county tax records.