219 Miera Ave

Clayton, NM 88415

$149,000D

3 bd · 1.0 ba · 1,440 sqft · Built 1959 · Other · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,188/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$127
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $30/mo
• Annual: $359/yr
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• 1% rule: 0.80%
• Cash to close: $41,720

Investor read

• This is a 3-bed/1.0-bath other listed at $149k.
• At list price, monthly cash flow is $30 ($359/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 $119k (20.3% below list).
• It's been on market 70 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (20.3% below list) — sets the bar for 1% rule.
• 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.
• Location reads 64/100 on livability (#71 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Clayton Municipal Schools (rural): math 36% / reading 39% proficiency, ranked #14 of 95 in NM (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alvis Elementary (157 students, 69% FRL); Clayton High (math 10% / reading 30%, grade F, #98 of 110 statewide, top 94%, 131 students, 66% FRL).
• Zoned-school proficiency averages 20% at this address vs 38% district-wide (-18 pts) — the specific schools serving this property underperform the Clayton Municipal Schools average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP.
• Union County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.