612 N Ave B St · Portales, NM 88130

$49,900

3 bd · 2.0 ba · 1,394 sqft · Other · 221 Days on market

Built 1970 10,000 sqft lot ↓ 52% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

Key facts

• Oversized corner lot
• Eat in kitchen
• Storage shed

Tags

• OVERSIZED CORNER LOT
• FORMAL DINING AREA
• EAT IN KITCHEN
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

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; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 221 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $55k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 221 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 2.32% ✓
• Cap rate: 19.89%
• Cash-on-cash: 48.55%
• DSCR: 3.16
• GRM: 3.6

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: 48.8%
• Equity multiple: 3.20×
• Total profit: $30,776
• Equity at exit: $7,440

10-year hold

• IRR: 55.4%
• Equity multiple: 7.12×
• Total profit: $85,481
• Equity at exit: $4,314

Cash invested: $13,972 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,159 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$68 /mo · $813/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $565

Break-even live

Break-even rent $443

Max offer price $49,900

Occupancy floor 46%

Sensitivity live

Price	-10% $593	-5% $579	+0% $565	+5% $551	+10% $537
Rent	-10% $474	-5% $519	+0% $565	+5% $611	+10% $657
Rate	-1.0pp $590	-0.5pp $578	base $565	+0.5pp $552	+1.0pp $539

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 North Avenue B Portales, NM	3.0	3.0	1500	$1,250	$0.83	45d	1	0.23mi
506 E 1st St Portales, NM	3.0	1.0	1100	$675	$0.61	45d	1	0.50mi
1700 South Avenue B Unit B Portales, NM	3.0	2.0	1706	$1,800	$1.06	45d	1	1.33mi
1802 South Avenue A Unit A Portales, NM	3.0	2.0	1570	$1,150	$0.73	45d	1	1.46mi

Listing history 13 events

1. 2026-05-05
   status Pending 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

2. 2026-04-19
   price $49,900 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

3. 2026-03-30
   price $54,900 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

4. 2026-03-05
   status Active 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

5. 2026-03-01
   historical 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

6. 2026-02-22
   price $59,900 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

7. 2026-02-01
   status Active 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

8. 2026-02-01
   historical 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

9. 2026-01-20
   price $64,900 228-char remark

   Show marketing remark (228 chars)

   This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

10. 2025-12-29
    price $79,900 228-char remark

    Show marketing remark (228 chars)

    This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

11. 2025-11-18
    price $89,900 228-char remark

    Show marketing remark (228 chars)

    This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

12. 2025-10-24
    price $94,900 228-char remark

    Show marketing remark (228 chars)

    This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

13. 2025-09-22
    listed $104,900 Active 228-char remark

    Show marketing remark (228 chars)

    This is a cute home with large rooms, an oversized corner lot with a 1 car attached carport. Home has a formal dining area, eat in kitchen and 3 bedrooms 2 baths. Rool away dishwasher in the kitchen plus a storage shed out back!

ⓘ 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: $813 · $68/mo
• Projected year-2 tax: $813 · $68/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 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: $13,906
• − Mortgage interest: −$2,795
• − Property taxes: −$813
• − Insurance: −$250
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$1,452
• Taxable income: $6,372
• Est. tax owed @ 24.0%: −$1,529
• After-tax cash flow: $5,254/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

-52.4% since first listed

13 events — show timeline

• 2026-05-05 Pending — NMMLS
• 2026-04-19 Price Changed $49,900 NMMLS
• 2026-03-30 Price Changed $54,900 NMMLS
• 2026-03-05 Relisted — NMMLS
• 2026-03-01 Delisted — NMMLS
• 2026-02-22 Price Changed $59,900 NMMLS
• 2026-02-01 Relisted — NMMLS
• 2026-02-01 Delisted — NMMLS
• 2026-01-20 Price Changed $64,900 NMMLS
• 2025-12-29 Price Changed $79,900 NMMLS
• 2025-11-18 Price Changed $89,900 NMMLS
• 2025-10-24 Price Changed $94,900 NMMLS
• 2025-09-22 Listed $104,900 NMMLS

Property tax history

+7.3%/yr

Latest (2025): $813 · +86.3% YoY. Source: county tax records.