Score
0Silver City, NM
311 S Pinos Altos St
95K
3 beds
1 baths
1,265 sqft
3 bd • 1 ba • 1,265 sf
This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$95,000
Price/Sq.Ft
$75
Year Built
1900
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Price reduction: The recent price reduction to $95,000 makes the property more attractive to budget-conscious buyers. The property was originally listed for $120,000, representing a 20.8% price decrease.
• Low price per square foot: At $75.10 per square foot, the property is priced below the average for Silver City, offering potential for value appreciation after renovations. The average price per square foot in Silver City is around $100-$150.
• Convenient location: Situated just three blocks from downtown, the property offers easy access to local amenities, shops, and restaurants. Walkability is a desirable feature for many buyers.
• Historic charm: The property's historic Chihuahua Hill adobe construction provides unique character and appeal. Historic properties often retain their value well.
• Potential for customization: The property offers a blank canvas for renovation and customization. Buyers can tailor the property to their specific needs and preferences. The attic area offers possibilities for expansion or vaulted ceilings.
The Bad
• Significant renovation required: Built in 1900, the property likely requires extensive updates to its systems (plumbing, electrical, HVAC), which could lead to substantial renovation costs. Homes of this age in Silver City often need significant investment to meet modern standards.
• High fire risk: The extreme fire risk (10/10) is a major concern. This will result in significantly higher insurance premiums compared to properties with lower risk scores. The estimated insurance of $342/year is unrealistically low given the fire risk. Expect to pay significantly more.
• Lack of detailed information: The listing provides limited information about the property's room details and specific features. This makes it difficult to assess the property's layout, functionality, and overall condition. A thorough inspection is essential.
• Extended time on market: With 158 days on the market, the property has been listed for a longer period than the average for Silver City. This could indicate underlying issues or overpricing, despite recent price reductions.
• Unknown utility costs: The listing only mentions gas and basic utilities. Research average utility costs for similar-sized homes in Silver City to estimate monthly expenses. Older homes often have poor insulation, leading to higher heating and cooling costs.
The Ugly
• Potential code violations: Given the age of the property, there's a high likelihood of existing code violations, especially regarding electrical and plumbing systems. Remedying these violations can add significant costs to the renovation project. A professional inspection is crucial to identify any code-related issues.
• Septic system unknowns: Many older homes in Silver City rely on septic systems. The listing provides no information about the septic system's age, condition, or maintenance history. A failing septic system can be expensive to repair or replace, potentially costing $5,000 to $20,000.
• Lead paint and asbestos risks: Homes built before 1978 may contain lead-based paint and asbestos. Addressing these hazards requires specialized abatement procedures, which can be costly. Testing for these materials is essential before starting any renovations.
• Foundation issues: Adobe homes are susceptible to foundation problems, especially in areas with fluctuating moisture levels. Look for cracks, settling, or uneven floors, which could indicate underlying foundation issues. Repairing foundation problems can be a major expense.
• Title issues: Given the age of the property, there may be potential title issues or boundary disputes. A thorough title search is essential to ensure clear ownership and avoid future legal problems.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Investors seeking a value-add opportunity: The property's low price per square foot ($75.10) and proximity to downtown offer potential for renovation and increased rental income. The median rent in Silver City is approximately $800, making this an attractive option for those willing to invest in improvements.
• Buyers interested in historic properties: The house, built in 1900 and located in the historic Chihuahua Hill neighborhood, appeals to those who appreciate vintage architecture and are willing to restore it. Proximity to the historic downtown area is a plus.
• Individuals seeking a walkable lifestyle: Located just three blocks from downtown, the property offers convenient access to local amenities, shops, and restaurants. This is ideal for individuals who prefer to minimize reliance on vehicles and enjoy a pedestrian-friendly environment.
• Buyers comfortable with renovation projects: The property provides a canvas for customization and improvements. Those willing to invest time and resources into upgrading the property to meet modern standards will find this a great opportunity. The attic area offers potential for expansion or vaulted ceilings.
Not For
• Buyers seeking a move-in ready property: The property requires significant renovation and upgrades. Buyers looking for a home that is immediately habitable without additional work should consider other options.
• Individuals with limited renovation budgets: The age and condition of the property suggest that substantial investment will be needed to bring it up to modern standards. Buyers with limited financial resources for renovations may find this property challenging.
• Buyers sensitive to fire risk: The property's extreme fire risk (10/10) may deter risk-averse individuals. Higher insurance premiums and potential mitigation efforts may add to the overall cost of ownership.
• Individuals requiring modern amenities: This historic adobe home may lack some of the modern amenities found in newer construction. Buyers who prioritize updated features and appliances may find this property unsuitable.
• Buyers with mobility issues: Given the age of the property, it may not be fully ADA-compliant. Individuals with mobility limitations should assess the property's accessibility before making an offer.
Demographics
Area Median Income
$0
Property History
Price History
Ownership Timeline
$0Cash Purchase
Mar 22, 2010Bert H West, D'aun J WestSilver Casitas Llc
Warranty Deed
Non-Arm's Length Transactions
$0Cash Purchase
Apr 25, 2008Christopher Frank ArzateChristopher Frank Arzate, Jada Arzate
Warranty Deed
Non-Arm's Length Transactions
Property Taxes
$402
2023 Tax Assessment
2.0%from previous year
Assessed Value$22,375
Tax Rate1.80%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
5.0/10
AverageHigh
5.0/10
AverageFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$0
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