2701 Sheldon St · Clovis, NM 88101

$117,825

3 bd · 2.0 ba · 1,372 sqft · Other · 21 Days on market

Built 1951 8,554 sqft lot ↓ 6% since listing

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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 +24.6/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• 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 MLS

Updated/Renovated 3 bedroom 1.5 bathroom home in Clovis. With new carpet, paint, new granite kitchen countertops, updated bathrooms and updated windows, you will be able to move right in with doing a thing. This darling home has cozy den with a wood burning fireplace that could double as a 4th bedroom, unique vaulted ceilings throughout as well as a large backyard with a deck spacious enough for comfortable outside lounging. Schedule your private viewing today.

Key facts

• Storage shed
• Large back yard
• Updated kitchen

Tags

• UPDATED KITCHEN
• LARGE BACK YARD
• STORAGE SHED

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Electricity connected; Sewer connected
• Home design: Single family residence; One story
• Construction: Frame and stucco construction; Shingle roof; Built as a residence
• Exterior features: Patio; Shed(s); Chain link fenced yard; Fenced yard

Interior

• Kitchen: Free-standing range; Water heater
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); Double pane windows; Fireplace in the family room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $118k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $116k (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-, schools F, crime 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.
• Market conditions: Rents rising fast (+5.5%/yr); 464 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $815 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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,057 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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: 1.08% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 7.7

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-219
• Equity at exit: $17,568

10-year hold

• IRR: 11.8%
• Equity multiple: 2.04×
• Total profit: $34,160
• Equity at exit: $10,187

Cash invested: $32,991 (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: 464
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,269 high
• Mortgage (P&I): −$618
• Tax from tax record: −$91 /mo · $1,090/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $244

Break-even live

Break-even rent $959

Max offer price $117,825

Occupancy floor 76%

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: $29,456
• Closing costs: $3,535
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2517 Ross St Clovis, NM	2.0	1.0	991	$950	$0.96	43d	1	0.11mi
3205 N Main St Unit 301 Clovis, NM	3.0	2.0	1017	$1,350	$1.33	43d	1	0.63mi
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	44d	1	0.72mi
3520 Adenmor Ct Clovis, NM	2.0	1.5	1230	$1,200	$0.98	43d	1	0.78mi
800 Laurelwood Dr Unit 804-2 Clovis, NM	2.0	1.0	897	$1,250	$1.39	43d	1	0.91mi
37 Paseo Vlg Clovis, NM	3.0	2.0	1564	$1,600	$1.02	43d	1	1.18mi
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	43d	1	1.22mi
2112 Fred Daugherty Ave Apt C Clovis, NM	2.0	1.0	900	$925	$1.03	43d	1	1.46mi

Listing history 19 events

1. 2026-06-19
   days on market $117,825 Active 21 DOM
2. 2026-06-18
   days on market $117,825 Active 20 DOM
3. 2026-06-17
   days on market $117,825 Active 19 DOM
4. 2026-06-16
   days on market $117,825 Active 18 DOM
5. 2026-06-15
   days on market $117,825 Active 17 DOM
6. 2026-06-14
   days on market $117,825 Active 15 DOM
7. 2026-06-12
   days on market $117,825 Active 14 DOM
8. 2026-06-09
   days on market $117,825 Active 11 DOM
9. 2026-06-08
   days on market $117,825 Active 10 DOM
10. 2026-06-07
    days on market $117,825 Active 9 DOM
11. 2026-06-03
    days on market $117,825 Active 5 DOM
12. 2026-06-02
    days on market $117,825 Active 4 DOM
13. 2026-06-01
    days on market $117,825 Active 3 DOM
14. 2026-05-31
    days on market $117,825 Active 2 DOM
15. 2026-05-29
    listed $117,825 Active
16. 2022-02-08
    soldstatus
17. 2022-02-04
    soldstatus 465-char remark

    Show marketing remark (465 chars)

    Updated/Renovated 3 bedroom 1.5 bathroom home in Clovis. With new carpet, paint, new granite kitchen countertops, updated bathrooms and updated windows, you will be able to move right in with doing a thing. This darling home has cozy den with a wood burning fireplace that could double as a 4th bedroom, unique vaulted ceilings throughout as well as a large backyard with a deck spacious enough for comfortable outside lounging. Schedule your private viewing today.

18. 2021-12-20
    listed $124,900 465-char remark

    Show marketing remark (465 chars)

    Updated/Renovated 3 bedroom 1.5 bathroom home in Clovis. With new carpet, paint, new granite kitchen countertops, updated bathrooms and updated windows, you will be able to move right in with doing a thing. This darling home has cozy den with a wood burning fireplace that could double as a 4th bedroom, unique vaulted ceilings throughout as well as a large backyard with a deck spacious enough for comfortable outside lounging. Schedule your private viewing today.

19. 2021-03-03
    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: $1,090 · $91/mo
• Projected year-2 tax: $1,090 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 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: $15,224
• − Mortgage interest: −$6,600
• − Property taxes: −$1,090
• − Insurance: −$589
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$3,428
• Taxable income: $1,081
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $2,673/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

-5.7% since first listed

5 events — show timeline

• 2026-05-29 Listed $117,825 NMMLS
• 2022-02-08 Sold (Public Records) — Public Records
• 2022-02-04 Sold (MLS) — NMMLS
• 2021-12-20 Listed $124,900 NMMLS
• 2021-03-03 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,090 · +3.7% YoY. Source: county tax records.