2900 Smith Ave · Clovis, NM 88101

$79,900

3 bd · 1.0 ba · 1,500 sqft · Other · 37 Days on market

Built 1959 $53/sqft · 69% below area ↓ 6% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity! Ideal location in an established neighborhood with convenience and proximity to local amenities. Plus an easy commute to Cannon Airforce Base! This home is situated on a spacious corner lot. With a functional floorpan, and lots of potential, this is an amazing opportunity!

Key facts

• Easy commute
• Functional floorpan
• Local amenities

Tags

• INVESTMENT OPPORTUNITY
• ESTABLISHED NEIGHBORHOOD
• LOCAL AMENITIES
• EASY COMMUTE
• CORNER LOT
• FUNCTIONAL FLOORPAN

Property features AI

Exterior

• Parking: Attached 1-car garage; 1 covered parking space (total 1 parking space)
• Utilities: Public water; Electricity connected; Sewer connected
• Home design: Single-family residence (residential property); Frame and stucco construction
• Construction: Frame construction; Stucco exterior

Interior

• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace (heating)
• Interior features: Carpet flooring; Tile flooring; Wall furnace heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

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-, schools F, crime 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.
• Market conditions: Rents rising fast (+5.5%/yr); 464 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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: 1.69% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.35%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $254,762
• List price: $79,900
• Delta: -68.64%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.7%
• Equity multiple: 2.19×
• Total profit: $26,616
• Equity at exit: $11,913

10-year hold

• IRR: 36.6%
• Equity multiple: 4.79×
• Total profit: $84,832
• Equity at exit: $6,908

Cash invested: $22,372 (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: 464
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,351 high
• Mortgage (P&I): −$419
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $566

Break-even live

Break-even rent $634

Max offer price $79,900

Occupancy floor 53%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	44d	1	0.55mi
513 Tucker Ave Clovis, NM	3.0	2.0	1168	$1,150	$0.98	44d	1	1.08mi
3520 Adenmor Ct Clovis, NM	2.0	1.5	1230	$1,200	$0.98	44d	1	1.17mi
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	44d	1	1.23mi
1808 Debra St Clovis, NM	3.0	2.5	1412	$1,400	$0.99	44d	1	1.41mi

Listing history 18 events

1. 2026-06-19
   days on market $79,900 Active 37 DOM
2. 2026-06-18
   price $79,900 Active 36 DOM
3. 2026-06-18
   days on market $84,000 Active 36 DOM
4. 2026-06-17
   days on market $84,000 Active 35 DOM
5. 2026-06-16
   days on market $84,000 Active 34 DOM
6. 2026-06-15
   days on market $84,000 Active 33 DOM
7. 2026-06-14
   days on market $84,000 Active 31 DOM
8. 2026-06-12
   days on market $84,000 Active 30 DOM
9. 2026-06-09
   days on market $84,000 Active 27 DOM
10. 2026-06-08
    days on market $84,000 Active 26 DOM
11. 2026-06-07
    pricedays on market $84,000 Active 25 DOM
12. 2026-06-03
    days on market $89,000 Active 21 DOM
13. 2026-06-02
    days on market $89,000 Active 20 DOM
14. 2026-06-01
    days on market $89,000 Active 19 DOM
15. 2026-05-31
    days on market $89,000 Active 18 DOM
16. 2026-05-30
    days on market $89,000 Active 17 DOM
17. 2026-05-13
    listed $89,000 Active 303-char remark
18. 2006-02-06
    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: $587 · $49/mo
• Projected year-2 tax: $639 · $53/mo
• Expected delta: +$53/yr (+$4/mo · 9.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 20 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: $16,207
• − Mortgage interest: −$4,476
• − Property taxes: −$587
• − Insurance: −$400
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$2,324
• Taxable income: $5,828
• Est. tax owed @ 24.0%: −$1,399
• After-tax cash flow: $5,391/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: 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

-5.6% since first listed

3 events — show timeline

• 2026-06-07 Price Changed $84,000 NMMLS
• 2026-05-13 Listed $89,000 NMMLS
• 2006-02-06 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $587 · +3.6% YoY. Source: county tax records.