249 Oklahoma Dr · Portales, NM 88130

$140,000

3 bd · 2.0 ba · 1,552 sqft · Other · 5 Days on market

Built 1965 6,500 sqft 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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.5/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very neat and clean home on a quiet street with mature trees. It has a nice open kitchen and dining area, full sunporch, large bedrooms and 2 full bathrooms. A large laundry room opens to the backyard and the garage. There is a storage shed in back too. Close to ENMU. It would make a fabulous rental or first time home buyer property or really for anyone in the market for an affordable 3 bedroom 2 bath home! The great move-in ready home is located on the Southern edge of Portales, call and see it today!

Key facts

• Sun-drenched porch
• Quiet southern edge
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• SUN-DRENCHED PORCH
• BONUS STORAGE SHED
• QUIET SOUTHERN EDGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $181 ($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 $133k (4.9% below list).
• Recommended offer: $133k (4.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#63 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Portales Municipal Schools (town): math 17% / reading 57% proficiency, ranked #15 of 29 in NM (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.4%/yr); 128 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 31 units permitted in Roosevelt County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($52k/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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Roosevelt County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,149 (4.9% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.95% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.38% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-7,908
• Equity at exit: $20,874

10-year hold

• IRR: 6.8%
• Equity multiple: 1.56×
• Total profit: $21,893
• Equity at exit: $12,105

Cash invested: $39,200 (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 88130

• Rents YoY: 5.4%
• Active inventory: 128
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $181

Break-even live

Break-even rent $1,102

Max offer price $140,000

Occupancy floor 81%

Sensitivity live

Price	-10% $261	-5% $221	+0% $181	+5% $142	+10% $102
Rent	-10% $76	-5% $129	+0% $181	+5% $234	+10% $287
Rate	-1.0pp $252	-0.5pp $217	base $181	+0.5pp $145	+1.0pp $108

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 South Avenue B Unit B Portales, NM	3.0	2.0	1706	$1,800	$1.06	44d	1	1.12mi
1802 South Avenue A Unit A Portales, NM	3.0	2.0	1570	$1,150	$0.73	44d	1	1.16mi
312 North Avenue B Portales, NM	3.0	3.0	1500	$1,250	$0.83	44d	1	1.45mi

Listing history 7 events

1. 2026-03-24
   status Pending
2. 2026-03-19
   listed $140,000 Active
3. 2017-01-24
   soldstatus
4. 2017-01-16
   soldstatus 509-char remark

   Show marketing remark (509 chars)

   Very neat and clean home on a quiet street with mature trees. It has a nice open kitchen and dining area, full sunporch, large bedrooms and 2 full bathrooms. A large laundry room opens to the backyard and the garage. There is a storage shed in back too. Close to ENMU. It would make a fabulous rental or first time home buyer property or really for anyone in the market for an affordable 3 bedroom 2 bath home! The great move-in ready home is located on the Southern edge of Portales, call and see it today!

5. 2016-05-02
   listed $107,500 509-char remark

   Show marketing remark (509 chars)

   Very neat and clean home on a quiet street with mature trees. It has a nice open kitchen and dining area, full sunporch, large bedrooms and 2 full bathrooms. A large laundry room opens to the backyard and the garage. There is a storage shed in back too. Close to ENMU. It would make a fabulous rental or first time home buyer property or really for anyone in the market for an affordable 3 bedroom 2 bath home! The great move-in ready home is located on the Southern edge of Portales, call and see it today!

6. 2015-09-30
   soldstatus
7. 2015-03-25
   soldstatus

ⓘ 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: $936 · $78/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$184/yr (+$15/mo · 19.7%)

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°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: $15,978
• − Mortgage interest: −$7,842
• − Property taxes: −$936
• − Insurance: −$700
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$4,073
• Taxable loss: −$129
• Est. tax savings @ 24.0%: +$31
• After-tax cash flow: $2,208/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: Portales Municipal Schools
• NCES district ID: 3502100
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 57% ▲ 20.00%
• Median HH income: $36,151
• Composite: 30.52/100
• National rank: #6209
• State rank: #15 of 29 in NM

Livability — Portales

• Score: 64/100
• State rank: #63
• US rank: #13640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portales, NM
• County: Roosevelt County · 17,842 people
• City population: 17,842
• Metro: Portales, NM
• Population (ZIP): 17,842
• Household income: $52,434
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 574.0

Population outlook (Roosevelt County) Hauer SSP2

• Today (2025): 16,821 people
• By 2030: 15,818 · -6.0%
• By 2040: 13,766 · -18.2%
• By 2050: 12,152 · -27.8%
• By 2075: 9,601 · -42.9%
• By 2100: 8,241 · -51.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 48% Hispanic / Latino 45% Two or more races 18% Native American 1%
• Hispanic origin (detail): Mexican 39% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 78% English-only · Spanish 21%

Political lean MEDSL · Roosevelt

• 2024 margin: Solid R (+43.2) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -13.3pp toward R · 2008: -29.9pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+42.9 2016: R+41.3 2012: R+38.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.72%
• Current HPI: 108.0555
• Rent YoY: ▲ 5.38%
• Metro: Portales, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+30.2% since first listed

7 events — show timeline

• 2026-03-24 Pending — NMMLS
• 2026-03-19 Listed $140,000 NMMLS
• 2017-01-24 Sold (Public Records) — Public Records
• 2017-01-16 Sold (MLS) — NMMLS
• 2016-05-02 Listed $107,500 NMMLS
• 2015-09-30 Sold (Public Records) — Public Records
• 2015-03-25 Sold (Public Records) — Public Records

Property tax history

-0.1%/yr

Latest (2025): $936 · +2.0% YoY. Source: county tax records.