721 Laurelwood Apt C Dr · Clovis, NM 88101

$111,000

2 bd · 1.5 ba · 1,296 sqft · SingleFamily · 9 Days on market

Built 1976 Fair condition 2,758 sqft lot $86/sqft · 52% below area ↓ 3% since listing

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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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, lifestyle, and low-maintenance living—this one checks all the boxes! This spacious 2-bedroom, 1.5-bath condo is perfectly situated in one of Clovis’ most convenient areas, just minutes from restaurants, shopping, and the golf course. Inside, you’ll love the open-concept layout that makes everyday living and entertaining effortless. The over sized primary bedroom offers a true retreat, complete with an impressive walk-in closet, while the home is filled with natural light and abundant storage throughout. Whether you’re looking for a smart investment, a low-maintenance lifestyle, or a place to call home, this property offers incredible value—often more affordable than renting. Connect with me and lets go see!

Key facts

• Large living area
• Newer appliances
• Convenient pantry

Tags

• LARGE LIVING AREA
• COZY DINING ROOM
• WALK-THROUGH GALLEY KITCHEN
• AMPLE STORAGE
• CONVENIENT PANTRY
• NEWER APPLIANCES

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached 1-car garage with garage door opener; 1 covered parking space (total 1 parking space)
• Utilities: Public water; Electricity connected; Sewer connected
• Home design: Residential condominium; Two levels / 2 stories; Entry facing information not provided
• Construction: Stucco construction; Slab foundation; Built year not provided
• Exterior features: Flat roof

Interior

• Kitchen: Dishwasher; Free-standing range; Refrigerator; Disposal; Electric water heater
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (electric); Central electric cooling
• Interior features: Pantry; Walk-in closets; Blinds
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $111k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).

Location & tenants

• Location reads 56/100 on livability (#171 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Clovis Municipal Schools (town): math 31% / reading 49% proficiency, ranked #13 of 29 in NM (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mesa Elementary (427 students, 0% FRL); W D Gattis Middle School (539 students, 100% FRL); Clovis High (math 31% / reading 49%, grade F, #60 of 110 statewide, top 54%, 1,544 students, 0% FRL) — zoned schools average 33% FRL vs 66% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 471 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $767 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Curry County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 2y 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: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.15% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

• ARV (median comp): $232,290
• List price: $111,000
• Delta: -50.49%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $737
• Equity at exit: $16,550

10-year hold

• IRR: 12.7%
• Equity multiple: 2.12×
• Total profit: $34,956
• Equity at exit: $9,597

Cash invested: $31,080 (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 88101

• Rents YoY: 5.5%
• Active inventory: 471
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$582
• Tax est. 1.5%: −$139 /mo · $1,665/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $241

Break-even live

Break-even rent $971

Max offer price $111,000

Occupancy floor 76%

Sensitivity live

Price	-10% $318	-5% $280	+0% $241	+5% $203	+10% $164
Rent	-10% $140	-5% $191	+0% $241	+5% $292	+10% $342
Rate	-1.0pp $297	-0.5pp $269	base $241	+0.5pp $212	+1.0pp $183

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Laurelwood Dr Unit 804-2 Clovis, NM	2.0	1.0	897	$1,250	$1.39	45d	1	0.06mi
3520 Adenmor Ct Clovis, NM	2.0	1.5	1230	$1,200	$0.98	45d	1	0.20mi
37 Paseo Vlg Clovis, NM	3.0	2.0	1564	$1,600	$1.02	45d	1	0.69mi
3205 N Main St Unit 301 Clovis, NM	3.0	2.0	1017	$1,350	$1.33	45d	1	0.91mi
2517 Ross St Clovis, NM	2.0	1.0	991	$950	$0.96	45d	1	1.00mi
112 Cades Ct Clovis, NM	3.0	2.0	1478	$1,800	$1.22	45d	1	1.03mi
144 Chisum Dr Unit A 1244 Clovis, NM	2.0	2.0	1062	$1,550	$1.46	45d	1	1.22mi
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	45d	1	1.49mi

Listing history 18 events

1. 2026-06-12
   statusdays on market $111,000 Pending 9 DOM
2. 2026-06-09
   days on market $111,000 Active 7 DOM
3. 2026-06-08
   days on market $111,000 Active 6 DOM
4. 2026-06-07
   days on market $111,000 Active 5 DOM
5. 2026-06-03
   remarks 687-char remark
6. 2026-06-03
   pricedays on marketlisting id $111,000 Active 1 DOM
7. 2026-06-02
   days on market $115,000 Active 41 DOM
8. 2026-06-01
   days on market $115,000 Active 40 DOM
9. 2026-05-31
   days on market $115,000 Active 39 DOM
10. 2026-05-30
    days on market $115,000 Active 38 DOM
11. 2026-05-10
    historical $950
12. 2026-04-22
    listed $950

    Show marketing remark (756 chars)

    Location, lifestyle, and low-maintenance living—this one checks all the boxes! This spacious 2-bedroom, 1.5-bath condo is perfectly situated in one of Clovis’ most convenient areas, just minutes from restaurants, shopping, and the golf course. Inside, you’ll love the open-concept layout that makes everyday living and entertaining effortless. The over sized primary bedroom offers a true retreat, complete with an impressive walk-in closet, while the home is filled with natural light and abundant storage throughout. Whether you’re looking for a smart investment, a low-maintenance lifestyle, or a place to call home, this property offers incredible value—often more affordable than renting. Connect with me and lets go see!

13. 2026-04-22
    listed $115,000 Active 756-char remark

    Show marketing remark (756 chars)

    Location, lifestyle, and low-maintenance living—this one checks all the boxes! This spacious 2-bedroom, 1.5-bath condo is perfectly situated in one of Clovis’ most convenient areas, just minutes from restaurants, shopping, and the golf course. Inside, you’ll love the open-concept layout that makes everyday living and entertaining effortless. The over sized primary bedroom offers a true retreat, complete with an impressive walk-in closet, while the home is filled with natural light and abundant storage throughout. Whether you’re looking for a smart investment, a low-maintenance lifestyle, or a place to call home, this property offers incredible value—often more affordable than renting. Connect with me and lets go see!

14. 2025-12-05
    listed $115,000 Active 732-char remark
15. 2025-02-15
    historical $900
16. 2025-02-01
    listed $900
17. 2024-02-07
    historical
18. 2024-01-30
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°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: $15,315
• − Mortgage interest: −$6,218
• − Property taxes: −$1,665
• − Insurance: −$555
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$3,229
• Taxable income: $1,198
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $2,606/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathroom, which would significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Moderate bathroom vanity — dated and worn
• Moderate bathroom fixtures — dated and worn

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would improve both resale and rental value
• Both update bathroom vanity and fixtures — modernizing the bathroom would improve both resale and rental value
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both trim vegetation around the house — trimmed vegetation would improve the home's curb appeal and maintain a neat appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen countertops · dated and worn	Moderate	$3,000–15,000
bathroom vanity · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would improve both resale and rental value ↑
• Both update bathroom vanity and fixtures — modernizing the bathroom would improve both resale and rental value ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both trim vegetation around the house — trimmed vegetation would improve the home's curb appeal and maintain a neat appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Clovis Municipal Schools
• NCES district ID: 3500570
• Math proficiency: 31% ▲ 6.00%
• Reading proficiency: 49% ▲ 14.00%
• Median HH income: $40,532
• Composite: 33.52/100
• National rank: #5435
• State rank: #13 of 29 in NM

Livability — Clovis

• Score: 56/100
• State rank: #171
• US rank: #22374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clovis, NM
• County: Curry County · 44,846 people
• City population: 44,846
• Metro: Clovis, NM
• Population (ZIP): 44,846
• Household income: $56,587
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1724.0

Population outlook (Curry County) Hauer SSP2

• Today (2025): 48,742 people
• By 2030: 47,759 · -2.0%
• By 2040: 45,444 · -6.8%
• By 2050: 42,403 · -13.0%
• By 2075: 33,878 · -30.5%
• By 2100: 22,414 · -54.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 47% White 42% Two or more races 14% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 25%

Political lean MEDSL · Curry

• 2024 margin: Solid R (+42.6) · D 27.8% · R 70.4% · Other 1.8%
• 2008→2024 swing: -8.5pp toward R · 2008: -34.1pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+40.6 2016: R+42.4 2012: R+38.6 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.79%
• Current HPI: 121.1877
• Rent YoY: ▲ 5.54%
• Metro: Clovis, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-3.5% since first listed

9 events — show timeline

• 2026-06-11 Pending — NMMLS
• 2026-06-02 Listed $111,000 NMMLS
• 2026-05-10 Rental Removed $950 APPFOLIO
• 2026-04-22 Listed for Rent $950 APPFOLIO
• 2026-04-22 Listed $115,000 NMMLS
• 2025-02-15 Rental Removed $900 APPFOLIO
• 2025-02-01 Listed for Rent $900 APPFOLIO
• 2024-02-07 Rental Removed — APPFOLIO
• 2024-01-30 Listed for Rent — APPFOLIO