604 S 3rd St · Lovington, NM 88260

$139,900

1 bd · 1.0 ba · 2,328 sqft · SingleFamily public records · 4 Days on market

Built 1950 0.33 ac lot ↓ 12% since listing

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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 +14.5/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• 1% rule +3.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 1 bedroom, 1 bathroom home situated on a large corner lot offering added privacy, extra yard space, and excellent potential. Ideal for outdoor living, future expansion, or investment opportunities. Schedule your showing today!

Key facts

• Future expansion
• Corner lot
• Outdoor living

Tags

• CORNER LOT
• OUTDOOR LIVING
• FUTURE EXPANSION
• INVESTMENT OPPORTUNITIES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Sewer connected
• Home design: Single-family residence; One story
• Exterior features: Chain link fenced yard; Metal roof

Interior

• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric and natural gas heating; Has cooling
• Interior features: Walk-in closet(s); Drapes

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $32 ($382/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 $117k (16.3% below list).
• Recommended offer: $117k (16.3% 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; 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 $967 of loan paydown is wiped out by about $4k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $117,038 (16.3% below list)

Questions for the listing agent

1. Built in 1950 — 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 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?
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. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 10.0

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-20,671
• Equity at exit: $20,860

10-year hold

• IRR: -6.1%
• Equity multiple: 0.60×
• Total profit: $-15,503
• Equity at exit: $12,096

Cash invested: $39,172 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $32

Break-even live

Break-even rent $1,130

Max offer price $139,900

Occupancy floor 92%

Sensitivity live

Price	-10% $111	-5% $71	+0% $32	+5% $-8	+10% $-47
Rent	-10% $-61	-5% $-14	+0% $32	+5% $78	+10% $124
Rate	-1.0pp $102	-0.5pp $67	base $32	+0.5pp $-4	+1.0pp $-41

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $139,900 Active 4 DOM
2. 2026-06-19
   days on market $139,900 Active 2 DOM
3. 2026-06-17
   pricedays on marketlisting id $139,900 Active 1 DOM
4. 2026-06-12
   days on market $140,000 Active 132 DOM
5. 2026-06-09
   days on market $140,000 Active 129 DOM
6. 2026-06-08
   days on market $140,000 Active 128 DOM
7. 2026-06-07
   days on market $140,000 Active 127 DOM
8. 2026-06-05
   days on market $140,000 Active 124 DOM
9. 2026-06-03
   days on market $140,000 Active 123 DOM
10. 2026-06-02
    days on market $140,000 Active 122 DOM
11. 2026-06-01
    days on market $140,000 Active 121 DOM
12. 2026-05-31
    days on market $140,000 Active 120 DOM
13. 2026-05-30
    days on market $140,000 Active 119 DOM
14. 2026-05-12
    price $140,000
15. 2026-04-14
    price $150,000
16. 2026-03-10
    price $155,000
17. 2026-02-01
    listed $160,000 Active
18. 2005-02-16
    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: $1,210 · $101/mo
• Projected year-2 tax: $1,210 · $101/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 10/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 18 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: $14,045
• − Mortgage interest: −$7,837
• − Property taxes: −$1,210
• − Insurance: −$700
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$4,070
• Taxable loss: −$2,018
• Est. tax savings @ 24.0%: +$484
• After-tax cash flow: $866/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

-12.5% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $140,000 NMMLS
• 2026-04-14 Price Changed $150,000 NMMLS
• 2026-03-10 Price Changed $155,000 NMMLS
• 2026-02-01 Listed $160,000 NMMLS
• 2005-02-16 Sold (Public Records) — Public Records

Property tax history

+10.4%/yr

Latest (2025): $1,210 · +9.1% YoY. Source: county tax records.