1319 E Tulsa St · North Hobbs, NM 88242

$88,000

2 bd · 1.0 ba · 787 sqft · SingleFamily public records · 10 Days on market

Built 1965 0.50 ac lot

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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
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Whether you're looking to "fix and flip" or "fix and hold" this home in North Hobbs could be the one! Sits on half an acre with room to build. Call today to schedule a showing!

Key facts

• Room to build
• Half an acre
• 0.5 acre lot

Tags

• HALF AN ACRE
• ROOM TO BUILD

Property features AI

Exterior

• Parking: Attached carport; Carport
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Single-family residence; One-story
• Construction: Stucco construction
• Exterior features: Metal roof; Half-acre lot (approximately 0.5 acres / 21,780 sq ft)

Interior

• Flooring: Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Evaporative cooling; Wall furnace
• Interior features: Tile and wood flooring; Evaporative cooling; Wall furnace heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).

Location & tenants

• Location reads 72/100 on livability (#14 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime D-, commute F.
• Hobbs Municipal Schools (town): math 17% / reading 31% proficiency, ranked #45 of 95 in NM (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 45 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 $608 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

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 $88,000

Questions for the listing agent

1. Built in 1965 — 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. 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.50%
• DSCR: 1.73
• GRM: 6.8

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $7,275
• Equity at exit: $13,121

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $33,953
• Equity at exit: $7,609

Cash invested: $24,640 (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 88242

• Active inventory: 45
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,081 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$17 /mo · $209/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $339

Break-even live

Break-even rent $653

Max offer price $88,000

Occupancy floor 64%

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-12
   status Pending 197-char remark
2. 2026-05-02
   listed $88,000 Active 197-char remark

ⓘ 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: $209 · $17/mo
• Projected year-2 tax: $704 · $59/mo
• Expected delta: +$495/yr (+$41/mo · 236.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 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: $12,978
• − Mortgage interest: −$4,929
• − Property taxes: −$209
• − Insurance: −$440
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$2,560
• Taxable income: $2,762
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $3,402/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: Hobbs Municipal Schools
• NCES district ID: 3501260
• Math proficiency: 17% —
• Reading proficiency: 31% —
• Median HH income: $52,575
• Composite: 24.53/100
• National rank: #13068
• State rank: #45 of 95 in NM

Livability — North Hobbs

• Score: 72/100
• State rank: #14
• US rank: #6476

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Hobbs, NM
• Population (ZIP): 7,684

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: Majority Hispanic (54%)
• Race & ethnicity: Hispanic / Latino 54% White 44% Two or more races 25% Native American 1%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 59% English-only · Spanish 41% Other Indo-European 1%

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: ▼ -144.18%
• Current HPI: 110.8814
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-12 Pending — NMMLS
• 2026-05-02 Listed $88,000 NMMLS

Property tax history

+3.9%/yr

Latest (2025): $209 · +1.8% YoY. Source: county tax records.