1602 W Mann Ave · Artesia, NM 88210

$278,000

3 bd · 2.0 ba · 1,752 sqft · SingleFamily · 250 Days on market

Built 1982 7,150 sqft lot $159/sqft · 254% above area ↓ 9% 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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

Key facts

• Bonus room
• Metal privacy fence
• Cozy fireplace

Tags

• COZY FIREPLACE
• BONUS ROOM
• METAL PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $278k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $278k).
• Recommended offer: $245k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#75 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Artesia Public Schools (town): math 29% / reading 42% proficiency, ranked #17 of 95 in NM (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Yeso Elementary (493 students, 40% FRL); Artesia Zia Intermediate (546 students, 50% FRL); Artesia High (math 44% / reading 74%, grade C+, #27 of 110 statewide, top 28%, 766 students, 40% FRL) — zoned schools at 43% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 36% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Artesia Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 166 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 156 units permitted in Eddy County in 2024 (0 in 5+ unit buildings).
• At $3,215/mo this rent would consume 48% of the median local household income ($80k/yr) (locally 159% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Eddy County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $27k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $244,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.16% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• GRM: 7.2

CMA / ARV

• ARV (median comp): $78,468
• List price: $278,000
• Delta: 254.28%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $9,280
• Equity at exit: $41,451

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $77,769
• Equity at exit: $24,036

Cash invested: $77,840 (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 88210

• Active inventory: 166
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,215 medium
• Mortgage (P&I): −$1,458
• Tax from tax record: −$112 /mo · $1,343/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $855

Break-even live

Break-even rent $2,134

Max offer price $278,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,012	-5% $933	+0% $855	+5% $776	+10% $697
Rent	-10% $600	-5% $728	+0% $855	+5% $982	+10% $1,109
Rate	-1.0pp $995	-0.5pp $925	base $855	+0.5pp $782	+1.0pp $709

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: $69,500
• Closing costs: $8,340
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 W Briscoe Ave Artesia, NM	3.0	2.0	1564	$1,750	$1.12	45d	1	0.15mi
2106 W Bullock Ave Artesia, NM	3.0	2.0	1320	$1,800	$1.36	45d	1	0.42mi

Listing history 24 events

1. 2026-06-21
   days on market $278,000 Active 250 DOM
2. 2026-06-19
   days on market $278,000 Active 248 DOM
3. 2026-06-18
   days on market $278,000 Active 247 DOM
4. 2026-06-17
   days on market $278,000 Active 246 DOM
5. 2026-06-16
   days on market $278,000 Active 245 DOM
6. 2026-06-15
   days on market $278,000 Active 244 DOM
7. 2026-06-14
   days on market $278,000 Active 242 DOM
8. 2026-06-13
   days on market $278,000 Active 241 DOM
9. 2026-06-10
   days on market $278,000 Active 239 DOM
10. 2026-06-09
    days on market $278,000 Active 238 DOM
11. 2026-06-08
    days on market $278,000 Active 237 DOM
12. 2026-06-07
    days on market $278,000 Active 236 DOM
13. 2026-06-03
    days on market $278,000 Active 232 DOM
14. 2026-06-02
    days on market $278,000 Active 231 DOM
15. 2026-06-01
    days on market $278,000 Active 230 DOM
16. 2026-05-31
    days on market $278,000 Active 229 DOM
17. 2026-05-30
    days on market $278,000 Active 228 DOM
18. 2026-04-13
    status Active 601-char remark

    Show marketing remark (601 chars)

    Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

19. 2026-04-01
    historical 601-char remark

    Show marketing remark (601 chars)

    Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

20. 2026-02-13
    price $278,000 601-char remark

    Show marketing remark (601 chars)

    Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

21. 2025-11-13
    price $285,000 601-char remark

    Show marketing remark (601 chars)

    Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

22. 2025-10-11
    price $295,000 601-char remark

    Show marketing remark (601 chars)

    Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

23. 2025-09-30
    listed $305,000 Active 601-char remark

    Show marketing remark (601 chars)

    Charming 3 bedroom, 2 bath home with a cozy fireplace, perfectly situated near schools, shopping, and parks for ultimate convenience. This home offers flexible living with a bonus room off the living area—ideal for an office, formal dining, game room, or whatever fits your lifestyle. An additional step-up space is currently being used as an office but could easily serve as a formal dining room. The backyard features a sturdy metal privacy fence, perfect for relaxing or entertaining outdoors. Endless possibilities await in this inviting home! Call your favorite realtor today for your tour.

24. 2007-03-22
    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: $1,343 · $112/mo
• Projected year-2 tax: $2,224 · $185/mo
• Expected delta: +$881/yr (+$73/mo · 65.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 17% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,584
• − Mortgage interest: −$15,572
• − Property taxes: −$1,343
• − Insurance: −$1,390
• − Repairs & maintenance: −$3,087
• − Management: −$3,087
• − Depreciation: −$8,087
• Taxable income: $6,018
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $8,810/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: Artesia Public Schools
• NCES district ID: 3500120
• Math proficiency: 29% —
• Reading proficiency: 42% —
• Median HH income: $51,397
• Composite: 33.48/100
• National rank: #10522
• State rank: #17 of 95 in NM

Livability — Artesia

• Score: 63/100
• State rank: #75
• US rank: #15300

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Artesia, NM
• County: Eddy County · 58,370 people
• City population: 18,542
• Metro: Carlsbad-Artesia, NM
• Population (ZIP): 18,542
• Household income: $79,632
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 159.0

Population outlook (Eddy County) Hauer SSP2

• Today (2025): 65,505 people
• By 2030: 69,797 · +6.6%
• By 2040: 79,191 · +20.9%
• By 2050: 89,199 · +36.2%
• By 2075: 115,829 · +76.8%
• By 2100: 129,336 · +97.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (55%)
• Race & ethnicity: Hispanic / Latino 55% White 40% Two or more races 19% Native American 3%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Italian 1% Romanian 1% Iranian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 24%

Political lean MEDSL · Eddy

• 2024 margin: Solid R (+55.9) · D 21.4% · R 77.3% · Other 1.3%
• 2008→2024 swing: -30.2pp toward R · 2008: -25.6pp · 2024: -55.9pp
• All cycles: 2024: R+55.9 2020: R+51.8 2016: R+41.6 2012: R+33.5 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -238.85%
• Current HPI: 115.6107
• Rent YoY: —
• Metro: Carlsbad-Artesia, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-8.9% since first listed

7 events — show timeline

• 2026-04-13 Relisted — NMMLS
• 2026-04-01 Delisted — NMMLS
• 2026-02-13 Price Changed $278,000 NMMLS
• 2025-11-13 Price Changed $285,000 NMMLS
• 2025-10-11 Price Changed $295,000 NMMLS
• 2025-09-30 Listed $305,000 NMMLS
• 2007-03-22 Sold (Public Records) — Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,343 · -4.3% YoY. Source: county tax records.