610 W Dallas Ave · Artesia, NM 88210

$134,900

2 bd · 1.0 ba · 1,092 sqft · SingleFamily · 120 Days on market

Built 1940 7,000 sqft lot Est $105k · 29% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home and/or investment property. Lots of charm in this 2 bed one bath home with high ceilings and original trim. Detached one car garage has electricity and drywall, could be turned into small apartment for guests or rental income. Large back yard, circle drive, large eat-in kitchen with pantry and separate utility room.

Key facts

• Extra parking
• Utility room
• Circular drive

Tags

• AMPLE SIZED PANTRY
• UTILITY ROOM
• CIRCULAR DRIVE
• DETACHED GARAGE
• PARTIALLY FENCED BACK YARD
• EXTRA PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#75 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools F.
• Artesia Public Schools (town): math 29% / reading 42% proficiency, ranked #17 of 95 in NM (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 166 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; solid renter incomes; 156 units permitted in Eddy County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($80k/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 $933 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 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

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.52% ✓
• Cap rate: 13.59%
• Cash-on-cash: 26.06%
• DSCR: 2.16
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $104,832
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 S Second St	0.43mi	2/1.0	934 (-14%)	20mo	$90,000	$96	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 19.7%
• Equity multiple: 1.80×
• Total profit: $30,327
• Equity at exit: $20,114

10-year hold

• IRR: 28.0%
• Equity multiple: 3.47×
• Total profit: $93,461
• Equity at exit: $11,664

Cash invested: $37,772 (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 88210

• Active inventory: 166
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,047 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$33 /mo · $398/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $820

Break-even live

Break-even rent $1,009

Max offer price $134,900

Occupancy floor 55%

Sensitivity live

Price	-10% $897	-5% $858	+0% $820	+5% $782	+10% $744
Rent	-10% $658	-5% $739	+0% $820	+5% $901	+10% $982
Rate	-1.0pp $888	-0.5pp $855	base $820	+0.5pp $785	+1.0pp $750

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 N 7th St Artesia, NM	3.0	1.0	1000	$1,200	$1.20	45d	1	0.79mi
2106 W Bullock Ave Artesia, NM	3.0	2.0	1320	$1,800	$1.36	45d	1	1.14mi
101 N 25th St Artesia, NM	1.0	1.0	775	$1,088	$1.40	45d	1	1.47mi

Listing history 9 events

1. 2026-04-14
   status Pending
2. 2026-01-16
   price $134,900
3. 2025-12-14
   listed $140,000 Active
4. 2016-06-30
   soldstatus
5. 2016-06-30
   soldstatus
6. 2016-06-29
   soldstatus 336-char remark

   Show marketing remark (336 chars)

   Great starter home and/or investment property. Lots of charm in this 2 bed one bath home with high ceilings and original trim. Detached one car garage has electricity and drywall, could be turned into small apartment for guests or rental income. Large back yard, circle drive, large eat-in kitchen with pantry and separate utility room.

7. 2016-01-13
   listed $50,000 336-char remark

   Show marketing remark (336 chars)

   Great starter home and/or investment property. Lots of charm in this 2 bed one bath home with high ceilings and original trim. Detached one car garage has electricity and drywall, could be turned into small apartment for guests or rental income. Large back yard, circle drive, large eat-in kitchen with pantry and separate utility room.

8. 2010-09-15
   soldstatus
9. 2006-10-31
   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: $398 · $33/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$681/yr (+$57/mo · 170.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,563
• − Mortgage interest: −$7,556
• − Property taxes: −$398
• − Insurance: −$674
• − Repairs & maintenance: −$1,965
• − Management: −$1,965
• − Depreciation: −$3,924
• Taxable income: $8,079
• Est. tax owed @ 24.0%: −$1,939
• After-tax cash flow: $7,903/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: Artesia Public Schools
• NCES district ID: 3500120
• Math proficiency: 29% —
• Reading proficiency: 42% —
• Median HH income: $51,397
• Composite: 33.48/100
• National rank: #10522
• State rank: #17 of 95 in NM

Livability — Artesia

• Score: 63/100
• State rank: #75
• US rank: #15300

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Artesia, NM
• County: Eddy County · 58,370 people
• City population: 18,542
• Metro: Carlsbad-Artesia, NM
• Population (ZIP): 18,542
• Household income: $79,632
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 159.0

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: Majority Hispanic (55%)
• Race & ethnicity: Hispanic / Latino 55% White 40% Two or more races 19% Native American 3%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Italian 1% Romanian 1% Iranian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 74% 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: ▼ -238.85%
• Current HPI: 115.6107
• Rent YoY: —
• Metro: Carlsbad-Artesia, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+169.8% since first listed

9 events — show timeline

• 2026-04-14 Pending — NMMLS
• 2026-01-16 Price Changed $134,900 NMMLS
• 2025-12-14 Listed $140,000 NMMLS
• 2016-06-30 Sold (Public Records) — Public Records
• 2016-06-30 Sold (Public Records) — Public Records
• 2016-06-29 Sold (MLS) — NMMLS
• 2016-01-13 Listed $50,000 NMMLS
• 2010-09-15 Sold (Public Records) — Public Records
• 2006-10-31 Sold (Public Records) — Public Records

Property tax history

+1.3%/yr

Latest (2025): $398 · -4.3% YoY. Source: county tax records.