317 Sherrill Lane #18 Ln · Roswell, NM 88201

$239,999

2 bd · 2.0 ba · 2,016 sqft · SingleFamily public records · 111 Days on market

Built 1979 7,145 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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to North Springs! This townhome offers one of the larger floor plans in the subdivision and sits on an oversized interior lot within the complex, providing added privacy and a peaceful setting. Ideally located directly across from the community swimming pool, you’ll enjoy both convenience and comfort. Featuring 2 bedrooms and 2 bathrooms, this spacious unit offers a flexible and functional layout designed to fit a variety of lifestyles. The main living area includes a generous living room with bonus space that could easily serve as a den or formal dining area. An additional separate space provides the perfect opportunity for a dedicated dining room, home office, or hobby area. The large sunroom adds even more versatile living space—ideal for relaxing, entertaining, or creating your own indoor retreat. The home also features an oversized utility room that functions as both a laundry area and pantry, offering exceptional storage and everyday convenience. All major systems have been well maintained. The roof is approximately six years old. The water heater was installed in 2023 and, per Seller, is under warranty. The A/C compressor is scheduled for replacement in April. The garage door and opener have been recently replaced. The dishwasher and refrigerator are connected to a reverse osmosis system (per Seller). A portion of the home features pier and beam construction. With its larger lot, spacious layout, desirable interior location offering privacy, and strong system updates, this property is ideally priced for the size of both the unit and lot—making it an exceptional opportunity in North Springs. HOA is $175 monthly.

Key facts

• Large sunroom
• Garage
• Pool

Tags

• OVERSIZED INTERIOR LOT
• COMMUNITY SWIMMING POOL
• FLEXIBLE AND FUNCTIONAL LAYOUT
• LARGE SUNROOM
• OVERSIZED UTILITY ROOM
• PIER AND BEAM CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/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 $220k (8.2% below list).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#8 in NM, #4,339 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Roswell Independent Schools (town): math 11% / reading 52% proficiency, ranked #16 of 29 in NM (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.3%/yr); 248 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; 88 units permitted in Chaves County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,399 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 1979 — 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. 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: 0.92% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.83%
• DSCR: 1.21
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.32% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-18,784
• Equity at exit: $35,785

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $17,982
• Equity at exit: $20,751

Cash invested: $67,200 (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 88201

• Rents YoY: 4.3%
• Active inventory: 248
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,203 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$111 /mo · $1,337/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $270

Break-even live

Break-even rent $1,861

Max offer price $239,999

Occupancy floor 83%

Sensitivity live

Price	-10% $406	-5% $338	+0% $270	+5% $203	+10% $135
Rent	-10% $96	-5% $183	+0% $270	+5% $357	+10% $444
Rate	-1.0pp $391	-0.5pp $331	base $270	+0.5pp $208	+1.0pp $145

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 La Paloma Pl Roswell, NM	3.0	2.5	2401	$3,300	$1.37	44d	1	0.60mi
3014 N Garden Ave Roswell, NM	3.0	2.0	2101	$2,100	$1.00	44d	1	0.86mi
703 Broken Arrow Rd Unit 743 Roswell, NM	3.0	2.0	1405	$1,850	$1.32	44d	1	1.25mi

Listing history 20 events

1. 2026-06-19
   days on market $239,999 Active 111 DOM
2. 2026-06-18
   days on market $239,999 Active 110 DOM
3. 2026-06-17
   days on market $239,999 Active 109 DOM
4. 2026-06-16
   days on market $239,999 Active 108 DOM
5. 2026-06-15
   days on market $239,999 Active 107 DOM
6. 2026-06-14
   days on market $239,999 Active 105 DOM
7. 2026-06-12
   days on market $239,999 Active 104 DOM
8. 2026-06-09
   days on market $239,999 Active 101 DOM
9. 2026-06-08
   days on market $239,999 Active 100 DOM
10. 2026-06-07
    days on market $239,999 Active 99 DOM
11. 2026-06-05
    days on market $239,999 Active 96 DOM
12. 2026-06-03
    days on market $239,999 Active 95 DOM
13. 2026-06-02
    days on market $239,999 Active 94 DOM
14. 2026-06-01
    days on market $239,999 Active 93 DOM
15. 2026-05-31
    days on market $239,999 Active 92 DOM
16. 2026-05-30
    days on market $239,999 Active 91 DOM
17. 2026-02-28
    listed $239,999 Active 1671-char remark

    Show marketing remark (1671 chars)

    Welcome to North Springs! This townhome offers one of the larger floor plans in the subdivision and sits on an oversized interior lot within the complex, providing added privacy and a peaceful setting. Ideally located directly across from the community swimming pool, you’ll enjoy both convenience and comfort. Featuring 2 bedrooms and 2 bathrooms, this spacious unit offers a flexible and functional layout designed to fit a variety of lifestyles. The main living area includes a generous living room with bonus space that could easily serve as a den or formal dining area. An additional separate space provides the perfect opportunity for a dedicated dining room, home office, or hobby area. The large sunroom adds even more versatile living space—ideal for relaxing, entertaining, or creating your own indoor retreat. The home also features an oversized utility room that functions as both a laundry area and pantry, offering exceptional storage and everyday convenience. All major systems have been well maintained. The roof is approximately six years old. The water heater was installed in 2023 and, per Seller, is under warranty. The A/C compressor is scheduled for replacement in April. The garage door and opener have been recently replaced. The dishwasher and refrigerator are connected to a reverse osmosis system (per Seller). A portion of the home features pier and beam construction. With its larger lot, spacious layout, desirable interior location offering privacy, and strong system updates, this property is ideally priced for the size of both the unit and lot—making it an exceptional opportunity in North Springs. HOA is $175 monthly.

18. 2019-09-13
    soldstatus 142-char remark

    Show marketing remark (142 chars)

    Quiet interior unit located across from pool. Low traffic area and close to hospital, shopping, and dining. Very large outdoor enclosed patio.

19. 2019-05-13
    soldstatus
20. 2018-08-20
    listed $155,900 142-char remark

    Show marketing remark (142 chars)

    Quiet interior unit located across from pool. Low traffic area and close to hospital, shopping, and dining. Very large outdoor enclosed patio.

ⓘ 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: $1,337 · $111/mo
• Projected year-2 tax: $1,920 · $160/mo
• Expected delta: +$583/yr (+$49/mo · 43.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 18 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: $26,436
• − Mortgage interest: −$13,444
• − Property taxes: −$1,337
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,115
• − Management: −$2,115
• − Depreciation: −$6,982
• Taxable loss: −$755
• Est. tax savings @ 24.0%: +$181
• After-tax cash flow: $3,427/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: Roswell Independent Schools
• NCES district ID: 3502250
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 52% ▲ 23.00%
• Median HH income: $38,848
• Composite: 26.21/100
• National rank: #7262
• State rank: #16 of 29 in NM

Livability — Roswell

• Score: 75/100
• State rank: #8
• US rank: #4339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roswell, NM
• County: Chaves County · 56,277 people
• City population: 56,277
• Metro: Roswell, NM
• Population (ZIP): 27,524
• Household income: $61,780
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 603.0

Population outlook (Chaves County) Hauer SSP2

• Today (2025): 66,122 people
• By 2030: 66,351 · +0.3%
• By 2040: 66,818 · +1.1%
• By 2050: 66,928 · +1.2%
• By 2075: 65,474 · -1.0%
• By 2100: 58,943 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 50% White 44% Two or more races 16% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 73% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Chaves

• 2024 margin: Solid R (+44.8) · D 26.8% · R 71.6% · Other 1.6%
• 2008→2024 swing: -20.2pp toward R · 2008: -24.7pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+41.3 2016: R+36.4 2012: R+32.4 2008: R+24.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.52%
• Current HPI: 149.3526
• Rent YoY: ▲ 4.32%
• Metro: Roswell, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+53.9% since first listed

4 events — show timeline

• 2026-02-28 Listed $239,999 NMMLS
• 2019-09-13 Sold (MLS) — NMMLS
• 2019-05-13 Sold (Public Records) — Public Records
• 2018-08-20 Listed $155,900 NMMLS

Property tax history

+1.9%/yr

Latest (2025): $1,337 · -0.9% YoY. Source: county tax records.