1113 W Polk Sts · Lovington, NM 88260

$170,000

3 bd · 1.5 ba · 1,302 sqft · SingleFamily public records · 77 Days on market

Built 1956 8,712 sqft lot

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.3/10.0
• Livability +3.3/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this beautiful 3 bedrooms, 1 (1/2) bath home with new tile throughout main areas of home. It has a separate dining area to entertain family and guest. This home also features a huge backyard that is ready for you to spend the summer nights to relax and enjoy time with family and friends. This home is located in a very nice area in Lovington, NM. Call us today for a home tour.

Key facts

• Huge back yard
• 8,712 sq ft lot
• Garage

Tags

• HUGE BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $25 ($299/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 $139k (18.4% below list).
• Recommended offer: $139k (18.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#33 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Zoned schools: Llano Elementary (325 students, 99% FRL); Taylor Middle (527 students, 99% FRL); Lovington High (math 44% / reading 54%, grade D, #51 of 110 statewide, top 50%, 737 students, 100% FRL).
• Market conditions: 72 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 172 units permitted in Lea County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lea County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,675 (18.4% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $71,610
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 W Van Buren Ave	0.65mi	3/1.0	1,277 (-2%)	9mo	$70,000	$55	57

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-26,003
• Equity at exit: $25,348

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-20,773
• Equity at exit: $14,698

Cash invested: $47,600 (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 88260

• Active inventory: 72
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $25

Break-even live

Break-even rent $1,355

Max offer price $170,000

Occupancy floor 93%

Sensitivity live

Price	-10% $121	-5% $73	+0% $25	+5% $-23	+10% $-71
Rent	-10% $-85	-5% $-30	+0% $25	+5% $80	+10% $134
Rate	-1.0pp $111	-0.5pp $68	base $25	+0.5pp $-19	+1.0pp $-64

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1811 W Jackson Ave Apt A Lovington, NM	2.0	1.0	1078	$1,300	$1.21	45d	1	0.49mi
514 West Avenue J Unit J Lovington, NM	4.0	2.0	1600	$1,650	$1.03	45d	1	1.45mi

Listing history 6 events

1. 2026-04-23
   status Pending
2. 2026-04-07
   price $170,000
3. 2026-03-03
   price $175,000
4. 2026-02-05
   listed $180,000 Active
5. 2022-09-30
   soldstatus 388-char remark

   Show marketing remark (388 chars)

   Check out this beautiful 3 bedrooms, 1 (1/2) bath home with new tile throughout main areas of home. It has a separate dining area to entertain family and guest. This home also features a huge backyard that is ready for you to spend the summer nights to relax and enjoy time with family and friends. This home is located in a very nice area in Lovington, NM. Call us today for a home tour.

6. 2022-04-11
   listed $153,000 388-char remark

   Show marketing remark (388 chars)

   Check out this beautiful 3 bedrooms, 1 (1/2) bath home with new tile throughout main areas of home. It has a separate dining area to entertain family and guest. This home also features a huge backyard that is ready for you to spend the summer nights to relax and enjoy time with family and friends. This home is located in a very nice area in Lovington, NM. Call us today for a home tour.

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,360 · $113/mo
• Expected delta: +$61/yr (+$5/mo · 4.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 17% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 5/10 Major 6 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,641
• − Mortgage interest: −$9,523
• − Property taxes: −$1,299
• − Insurance: −$850
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$4,945
• Taxable loss: −$2,639
• Est. tax savings @ 24.0%: +$633
• After-tax cash flow: $933/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)

No district data.

Livability — Lovington

• Score: 66/100
• State rank: #33
• US rank: #11541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lovington, NM
• Population (ZIP): 15,410

Population outlook (Lea County) Hauer SSP2

• Today (2025): 84,268 people
• By 2030: 91,695 · +8.8%
• By 2040: 108,366 · +28.6%
• By 2050: 126,264 · +49.8%
• By 2075: 170,606 · +102.5%
• By 2100: 199,235 · +136.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% White 31% Two or more races 26% Black 2%
• Hispanic origin (detail): Mexican 63%
• Common ancestry: Lithuanian 1% Portuguese 1% Serbian 1%
• Foreign-born: 21% · Canada
• Languages at home: 51% English-only · Spanish 49%

Political lean MEDSL · Lea

• 2024 margin: Solid R (+61.6) · D 18.5% · R 80.1% · Other 1.3%
• 2008→2024 swing: -17.4pp toward R · 2008: -44.2pp · 2024: -61.6pp
• All cycles: 2024: R+61.6 2020: R+59.6 2016: R+48.5 2012: R+49.7 2008: R+44.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.50%
• Current HPI: 92.2391
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+11.1% since first listed

6 events — show timeline

• 2026-04-23 Pending — NMMLS
• 2026-04-07 Price Changed $170,000 NMMLS
• 2026-03-03 Price Changed $175,000 NMMLS
• 2026-02-05 Listed $180,000 NMMLS
• 2022-09-30 Sold (MLS) — NMMLS
• 2022-04-11 Listed $153,000 NMMLS

Property tax history

+12.3%/yr

Latest (2025): $1,299 · -0.9% YoY. Source: county tax records.