6 Harding St · Clayton, NM 88415

$72,000

2 bd · 1.0 ba · 720 sqft · Other · 30 Days on market

Built 1945 7,000 sqft lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Refurbished 2Bd/1Ba home with 720SF of living space on 2 city lots. Large fenced back yard.

Key facts

• Fenced back yard
• 7,000 sq ft lot
• Built 1945

Tags

• FENCED BACK YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Electricity connected; Natural gas available and connected; Sewer connected
• Home design: Single-family residence; One story; Residential property
• Construction: Frame and stucco construction; Shingle roof; Built on a single level
• Exterior features: Back yard with chain link fencing; Fenced yard

Interior

• Kitchen: Free-standing range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Window air conditioning unit(s)
• Interior features: Blinds on windows

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $72k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($820 rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#71 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, schools F, amenities F.
• Clayton Municipal Schools (rural): math 36% / reading 39% proficiency, ranked #14 of 95 in NM (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Union County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,920 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — 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 D 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: 1.14% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-1,983
• Equity at exit: $10,735

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $10,773
• Equity at exit: $6,225

Cash invested: $20,160 (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 88415

• Home prices YoY: -12.3%
• Active inventory: 23
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $820 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$88 /mo · $1,057/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $152

Break-even live

Break-even rent $627

Max offer price $72,000

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $72,000 Active 30 DOM
2. 2026-06-17
   days on market $72,000 Active 29 DOM
3. 2026-06-16
   days on market $72,000 Active 28 DOM
4. 2026-06-15
   days on market $72,000 Active 27 DOM
5. 2026-06-13
   days on market $72,000 Active 25 DOM
6. 2026-06-12
   days on market $72,000 Active 24 DOM
7. 2026-06-09
   days on market $72,000 Active 21 DOM
8. 2026-06-08
   days on market $72,000 Active 20 DOM
9. 2026-06-07
   days on market $72,000 Active 19 DOM
10. 2026-06-05
    days on market $72,000 Active 17 DOM
11. 2026-06-04
    days on market $72,000 Active 15 DOM
12. 2026-06-02
    days on market $72,000 Active 14 DOM
13. 2026-06-01
    days on market $72,000 Active 13 DOM
14. 2026-05-31
    days on market $72,000 Active 12 DOM
15. 2026-05-19
    listed $72,000 Active
16. 2026-05-19
    soldstatus
17. 2026-04-27
    listed $72,000

ⓘ 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: $1,057 · $88/mo
• Projected year-2 tax: $1,057 · $88/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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,836
• − Mortgage interest: −$4,033
• − Property taxes: −$1,057
• − Insurance: −$360
• − Repairs & maintenance: −$787
• − Management: −$787
• − Depreciation: −$2,095
• Taxable income: $717
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $1,650/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: Clayton Municipal Schools
• NCES district ID: 3500510
• Math proficiency: 36% —
• Reading proficiency: 39% —
• Median HH income: $37,808
• Composite: 33.78/100
• National rank: #10400
• State rank: #14 of 95 in NM

Livability — Clayton

• Score: 64/100
• State rank: #71
• US rank: #14705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clayton, NM
• Population (ZIP): 3,143

Population outlook (Union County) Hauer SSP2

• Today (2025): 3,632 people
• By 2030: 3,403 · -6.3%
• By 2040: 3,115 · -14.2%
• By 2050: 2,838 · -21.9%
• By 2075: 2,097 · -42.3%
• By 2100: 1,481 · -59.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 48% Hispanic / Latino 45% Two or more races 22% Native American 3%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 77% English-only · Spanish 22%

Political lean MEDSL · Union

• 2024 margin: Solid R (+52.2) · D 22.7% · R 74.9% · Other 2.4%
• 2008→2024 swing: -10.0pp toward R · 2008: -42.2pp · 2024: -52.2pp
• All cycles: 2024: R+52.2 2020: R+56.2 2016: R+53.1 2012: R+43.4 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.42%
• Current HPI: 123.6201
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-19 Listed $72,000 NMMLS
• 2026-05-19 Sold (MLS) — NMMLS
• 2026-04-27 Listed $72,000 NMMLS

Property tax history

+5.2%/yr

Latest (2025): $1,057 · +3.8% YoY. Source: county tax records.