304 W Plains Ave · Clovis, NM 88101

$119,000

3 bd · 2.0 ba · 2,108 sqft · SingleFamily · 15 Days on market

Built 1952 7,490 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• 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

You might get lost in this rambling 2000+ square foot home! See floor plan for room placement. Features include covered front porch, living area, formal dining, bonus dining room, laundry room with washer and dryer, kitchen with refrigerator, stove, dishwasher; laundry with desk, shelving, ironing board; separate office, large den, three bedrooms with walk in closets, storage building, and single car garage. There's plenty of built in storage for linens in the bathrooms and hall, plus a built in China cabinet. Located North of Green Acres Park, Highland shopping center, Dairy Queen and Little Caesars Pizza. Come see if this budget friendly home is the one you've been searching for!

Key facts

• Covered front porch
• Bonus dining room
• Separate office

Tags

• COVERED FRONT PORCH
• FORMAL DINING
• BONUS DINING ROOM
• LAUNDRY ROOM
• SEPARATE OFFICE
• LARGE DEN

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 1 covered parking space (1 total parking space)
• Utilities: Public water; Sewer connected; Electricity connected; Natural gas connected; Cable available; Natural gas available
• Home design: Single family residence; One story / single level
• Construction: Brick and stucco exterior; Shingle roof
• Exterior features: Fenced backyard; Shed(s)

Interior

• Kitchen: Dishwasher; Range (free‑standing); Range hood; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric cooling; Forced air heating; Natural gas heating
• Interior features: Ceiling fans; Walk-in closets; Window blinds
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $117k (1.5% 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); 473 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($57k/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 $823 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 $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,215 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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: 1.29% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.39%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.4%
• Equity multiple: 1.46×
• Total profit: $15,434
• Equity at exit: $17,743

10-year hold

• IRR: 22.2%
• Equity multiple: 3.11×
• Total profit: $70,206
• Equity at exit: $10,289

Cash invested: $33,320 (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: 473
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,529 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $483

Break-even live

Break-even rent $918

Max offer price $119,000

Occupancy floor 63%

Sensitivity live

Price	-10% $550	-5% $516	+0% $483	+5% $449	+10% $415
Rent	-10% $362	-5% $422	+0% $483	+5% $543	+10% $604
Rate	-1.0pp $543	-0.5pp $513	base $483	+0.5pp $452	+1.0pp $421

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	46d	1	1.14mi
1808 Debra St Clovis, NM	3.0	2.5	1412	$1,400	$0.99	46d	1	1.40mi

Listing history 14 events

1. 2026-06-22
   status $119,000 Pending 15 DOM
2. 2026-06-19
   days on market $119,000 Active 15 DOM
3. 2026-06-18
   days on market $119,000 Active 14 DOM
4. 2026-06-18
   status $119,000 Active 13 DOM
5. 2026-06-17
   status $119,000 Pending 13 DOM
6. 2026-06-16
   days on market $119,000 Active 13 DOM
7. 2026-06-16
   price $119,000 Active 12 DOM
8. 2026-06-15
   days on market $110,000 Active 12 DOM
9. 2026-06-14
   days on market $110,000 Active 10 DOM
10. 2026-06-12
    days on market $110,000 Active 9 DOM
11. 2026-06-09
    days on market $110,000 Active 6 DOM
12. 2026-06-08
    days on market $110,000 Active 5 DOM
13. 2026-06-07
    remarks 690-char remark
14. 2026-06-07
    listed $110,000 Active 4 DOM

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$330/yr (+$27/mo · 53.0%)

ⓘ 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 · 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: $18,353
• − Mortgage interest: −$6,666
• − Property taxes: −$622
• − Insurance: −$595
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$3,462
• Taxable income: $4,071
• Est. tax owed @ 24.0%: −$977
• After-tax cash flow: $4,816/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

1 event — show timeline

• 2026-06-03 Listed $110,000 NMMLS

Property tax history

+4.3%/yr

Latest (2025): $622 · +3.7% YoY. Source: county tax records.