501 W Plains Ave · Clovis, NM 88101

$125,000

3 bd · 2.0 ba · 1,515 sqft · Other · 67 Days on market

Built 1955 7,350 sqft lot $83/sqft · 51% below area

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 501 W. Plains Ave. A short commute to Cannon AFB and close proximity to schools and shopping. Inside you are greeted by a large living room with hardwood floors. The kitchen features adequate cabinet and counter space. The large laundry area can double as an office space or bonus room. Great split floorplan. Outside you have a covered carport for off street parking and 2 storage/workshop areas. Large yard with a privacy fence. Corner lot. Call today for a private viewing

Key facts

• Laundry area
• Covered carport
• Privacy fence

Tags

• HARDWOOD FLOORS
• LAUNDRY AREA
• COVERED CARPORT
• STORAGE AREAS
• PRIVACY FENCE
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#171 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Clovis Municipal Schools (town): math 31% / reading 49% proficiency, ranked #13 of 29 in NM (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Highland Elementary (305 students, 100% FRL); Marshall Middle (519 students, 100% FRL); Clovis High (math 31% / reading 49%, grade F, #60 of 110 statewide, top 54%, 1,544 students, 0% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 464 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Curry County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1955 — 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. 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?
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: 1.09% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

• ARV (median comp): $254,497
• List price: $125,000
• Delta: -50.88%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $468
• Equity at exit: $18,638

10-year hold

• IRR: 12.3%
• Equity multiple: 2.08×
• Total profit: $37,839
• Equity at exit: $10,808

Cash invested: $35,000 (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 88101

• Rents YoY: 5.5%
• Active inventory: 464
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$656
• Tax from tax record: −$95 /mo · $1,139/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $270

Break-even live

Break-even rent $1,016

Max offer price $125,000

Occupancy floor 75%

Sensitivity live

Price	-10% $341	-5% $305	+0% $270	+5% $234	+10% $199
Rent	-10% $163	-5% $216	+0% $270	+5% $323	+10% $377
Rate	-1.0pp $333	-0.5pp $302	base $270	+0.5pp $237	+1.0pp $204

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	45d	1	0.60mi
513 Tucker Ave Clovis, NM	3.0	2.0	1168	$1,150	$0.98	45d	1	1.05mi
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	46d	1	1.19mi
1808 Debra St Clovis, NM	3.0	2.5	1412	$1,400	$0.99	45d	1	1.27mi
3520 Adenmor Ct Clovis, NM	2.0	1.5	1230	$1,200	$0.98	45d	1	1.29mi

Listing history 26 events

1. 2026-06-19
   days on market $125,000 Active 67 DOM
2. 2026-06-18
   days on market $125,000 Active 66 DOM
3. 2026-06-17
   days on market $125,000 Active 65 DOM
4. 2026-06-17
   price $125,000 Active 64 DOM
5. 2026-06-16
   days on market $135,000 Active 64 DOM
6. 2026-06-15
   days on market $135,000 Active 63 DOM
7. 2026-06-14
   days on market $135,000 Active 61 DOM
8. 2026-06-12
   days on market $135,000 Active 60 DOM
9. 2026-06-09
   days on market $135,000 Active 57 DOM
10. 2026-06-08
    days on market $135,000 Active 56 DOM
11. 2026-06-07
    days on market $135,000 Active 55 DOM
12. 2026-06-03
    days on market $135,000 Active 51 DOM
13. 2026-06-02
    days on market $135,000 Active 50 DOM
14. 2026-06-01
    days on market $135,000 Active 49 DOM
15. 2026-05-31
    days on market $135,000 Active 48 DOM
16. 2026-05-30
    days on market $135,000 Active 47 DOM
17. 2026-05-15
    price $135,000 486-char remark

    Show marketing remark (486 chars)

    Welcome to 501 W. Plains Ave. A short commute to Cannon AFB and close proximity to schools and shopping. Inside you are greeted by a large living room with hardwood floors. The kitchen features adequate cabinet and counter space. The large laundry area can double as an office space or bonus room. Great split floorplan. Outside you have a covered carport for off street parking and 2 storage/workshop areas. Large yard with a privacy fence. Corner lot. Call today for a private viewing

18. 2026-04-13
    listed $144,500 Active 486-char remark

    Show marketing remark (486 chars)

    Welcome to 501 W. Plains Ave. A short commute to Cannon AFB and close proximity to schools and shopping. Inside you are greeted by a large living room with hardwood floors. The kitchen features adequate cabinet and counter space. The large laundry area can double as an office space or bonus room. Great split floorplan. Outside you have a covered carport for off street parking and 2 storage/workshop areas. Large yard with a privacy fence. Corner lot. Call today for a private viewing

19. 2024-07-11
    price $179,000
20. 2023-10-18
    soldstatus
21. 2023-10-17
    soldstatus Closed
22. 2023-08-17
    status Pending
23. 2023-08-10
    listed $159,000 Active
24. 2021-10-06
    soldstatus
25. 2021-10-05
    soldstatus
26. 2021-06-03
    listed $120,000

ⓘ 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: $1,139 · $95/mo
• Projected year-2 tax: $1,139 · $95/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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 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: $16,288
• − Mortgage interest: −$7,002
• − Property taxes: −$1,139
• − Insurance: −$625
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,636
• Taxable income: $1,280
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $2,930/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: Clovis Municipal Schools
• NCES district ID: 3500570
• Math proficiency: 31% ▲ 6.00%
• Reading proficiency: 49% ▲ 14.00%
• Median HH income: $40,532
• Composite: 33.52/100
• National rank: #5435
• State rank: #13 of 29 in NM

Livability — Clovis

• Score: 56/100
• State rank: #171
• US rank: #22374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clovis, NM
• County: Curry County · 44,846 people
• City population: 44,846
• Metro: Clovis, NM
• Population (ZIP): 44,846
• Household income: $56,587
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1724.0

Population outlook (Curry County) Hauer SSP2

• Today (2025): 48,742 people
• By 2030: 47,759 · -2.0%
• By 2040: 45,444 · -6.8%
• By 2050: 42,403 · -13.0%
• By 2075: 33,878 · -30.5%
• By 2100: 22,414 · -54.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 47% White 42% Two or more races 14% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 25%

Political lean MEDSL · Curry

• 2024 margin: Solid R (+42.6) · D 27.8% · R 70.4% · Other 1.8%
• 2008→2024 swing: -8.5pp toward R · 2008: -34.1pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+40.6 2016: R+42.4 2012: R+38.6 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.79%
• Current HPI: 121.1877
• Rent YoY: ▲ 5.54%
• Metro: Clovis, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+12.5% since first listed

10 events — show timeline

• 2026-05-15 Price Changed $135,000 NMMLS
• 2026-04-13 Listed $144,500 NMMLS
• 2024-07-11 Price Changed $179,000 NMMLS
• 2023-10-18 Sold (Public Records) — Public Records
• 2023-10-17 Sold (MLS) — NMMLS
• 2023-08-17 Pending — NMMLS
• 2023-08-10 Listed $159,000 NMMLS
• 2021-10-06 Sold (Public Records) — Public Records
• 2021-10-05 Sold (MLS) — NMMLS
• 2021-06-03 Listed $120,000 NMMLS

Property tax history

+3.5%/yr

Latest (2025): $1,139 · +3.7% YoY. Source: county tax records.