1034 N Edward St · Carlsbad, NM 88220

$215,000

3 bd · 1.0 ba · 1,473 sqft · SingleFamily · 134 Days on market

$146/sqft · 179% above area ↓ 7% since listing

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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 +18.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1034 N Edward Street! This centrally located home is full of potential and is ready for your personal touches. Offering 3 bedrooms, 1 bathroom, and 1,473 square feet of living space, the layout provides both flexibility and comfort. Step outside to a spacious back yard featuring mature trees and shrubs, a covered carport, and two storage areas–perfect for tools, hobbies, lawn equipment or extra storage. Call your favorite realtor today to schedule a showing!

Key facts

• Covered carport
• Spacious back yard
• Two storage areas

Tags

• SPACIOUS BACK YARD
• MATURE TREES
• COVERED CARPORT
• TWO STORAGE AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (15.0% below list).
• Recommended offer: $183k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#20 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: commute C-, health & safety C-, schools D.
• Market conditions: 363 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 156 units permitted in Eddy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Eddy County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,854 (15.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 9.8

CMA / ARV

• ARV (median comp): $77,160
• List price: $215,000
• Delta: 178.64%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-22,974
• Equity at exit: $32,057

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-5,041
• Equity at exit: $18,589

Cash invested: $60,200 (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 88220

• Active inventory: 363
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,829 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $188

Break-even live

Break-even rent $1,590

Max offer price $215,000

Occupancy floor 85%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 W Orchard Ln Carlsbad, NM	2.0	1.5	1400	$1,700	$1.21	43d	2	0.58mi
302 N Lake St Carlsbad, NM	2.0	1.0	932	$1,500	$1.61	43d	1	0.86mi

Listing history 20 events

1. 2026-06-18
   days on market $215,000 Active 134 DOM
2. 2026-06-17
   days on market $215,000 Active 133 DOM
3. 2026-06-16
   days on market $215,000 Active 132 DOM
4. 2026-06-15
   days on market $215,000 Active 131 DOM
5. 2026-06-14
   days on market $215,000 Active 129 DOM
6. 2026-06-13
   days on market $215,000 Active 128 DOM
7. 2026-06-10
   days on market $215,000 Active 126 DOM
8. 2026-06-09
   days on market $215,000 Active 125 DOM
9. 2026-06-08
   days on market $215,000 Active 124 DOM
10. 2026-06-07
    days on market $215,000 Active 123 DOM
11. 2026-06-05
    days on market $215,000 Active 120 DOM
12. 2026-06-03
    days on market $215,000 Active 119 DOM
13. 2026-06-02
    days on market $215,000 Active 118 DOM
14. 2026-06-01
    days on market $215,000 Active 117 DOM
15. 2026-05-31
    days on market $215,000 Active 116 DOM
16. 2026-05-30
    days on market $215,000 Active 115 DOM
17. 2026-05-02
    price $215,000 479-char remark

    Show marketing remark (479 chars)

    Welcome to 1034 N Edward Street! This centrally located home is full of potential and is ready for your personal touches. Offering 3 bedrooms, 1 bathroom, and 1,473 square feet of living space, the layout provides both flexibility and comfort. Step outside to a spacious back yard featuring mature trees and shrubs, a covered carport, and two storage areas–perfect for tools, hobbies, lawn equipment or extra storage. Call your favorite realtor today to schedule a showing!

18. 2026-04-03
    price $220,000 479-char remark

    Show marketing remark (479 chars)

    Welcome to 1034 N Edward Street! This centrally located home is full of potential and is ready for your personal touches. Offering 3 bedrooms, 1 bathroom, and 1,473 square feet of living space, the layout provides both flexibility and comfort. Step outside to a spacious back yard featuring mature trees and shrubs, a covered carport, and two storage areas–perfect for tools, hobbies, lawn equipment or extra storage. Call your favorite realtor today to schedule a showing!

19. 2026-03-05
    price $225,000 479-char remark

    Show marketing remark (479 chars)

    Welcome to 1034 N Edward Street! This centrally located home is full of potential and is ready for your personal touches. Offering 3 bedrooms, 1 bathroom, and 1,473 square feet of living space, the layout provides both flexibility and comfort. Step outside to a spacious back yard featuring mature trees and shrubs, a covered carport, and two storage areas–perfect for tools, hobbies, lawn equipment or extra storage. Call your favorite realtor today to schedule a showing!

20. 2026-02-04
    listed $230,000 Active 479-char remark

    Show marketing remark (479 chars)

    Welcome to 1034 N Edward Street! This centrally located home is full of potential and is ready for your personal touches. Offering 3 bedrooms, 1 bathroom, and 1,473 square feet of living space, the layout provides both flexibility and comfort. Step outside to a spacious back yard featuring mature trees and shrubs, a covered carport, and two storage areas–perfect for tools, hobbies, lawn equipment or extra storage. Call your favorite realtor today to schedule a showing!

ⓘ 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: $473 · $39/mo
• Projected year-2 tax: $1,720 · $143/mo
• Expected delta: +$1,247/yr (+$104/mo · 263.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,942
• − Mortgage interest: −$12,043
• − Property taxes: −$473
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$6,255
• Taxable loss: −$1,414
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $2,596/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)

No district data.

Livability — Carlsbad

• Score: 70/100
• State rank: #20
• US rank: #7925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carlsbad, NM
• County: Eddy County · 58,370 people
• City population: 39,828
• Metro: Carlsbad-Artesia, NM
• Population (ZIP): 39,828
• Household income: $78,162
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 661.0

Population outlook (Eddy County) Hauer SSP2

• Today (2025): 65,505 people
• By 2030: 69,797 · +6.6%
• By 2040: 79,191 · +20.9%
• By 2050: 89,199 · +36.2%
• By 2075: 115,829 · +76.8%
• By 2100: 129,336 · +97.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 48% White 46% Two or more races 22% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 76% English-only · Spanish 24%

Political lean MEDSL · Eddy

• 2024 margin: Solid R (+55.9) · D 21.4% · R 77.3% · Other 1.3%
• 2008→2024 swing: -30.2pp toward R · 2008: -25.6pp · 2024: -55.9pp
• All cycles: 2024: R+55.9 2020: R+51.8 2016: R+41.6 2012: R+33.5 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.72%
• Current HPI: 114.115
• Rent YoY: —
• Metro: Carlsbad-Artesia, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-6.5% since first listed

4 events — show timeline

• 2026-05-02 Price Changed $215,000 NMMLS
• 2026-04-03 Price Changed $220,000 NMMLS
• 2026-03-05 Price Changed $225,000 NMMLS
• 2026-02-04 Listed $230,000 NMMLS

Property tax history

+0.7%/yr

Latest (2025): $473 · -21.3% YoY. Source: county tax records.