501 Circle Dr · Clovis, NM 88101

$154,900

3 bd · 2.0 ba · 1,092 sqft · Other · 8 Days on market

Built 1963 7,000 sqft lot

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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 +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• 1% rule +3.2/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute updated 3 bedroom 2 bath home with a single car garage that sits on a large corner lot. Updates include a new roof installed in May of 2022, new flooring in bathrooms, bedrooms and living area, fresh interior and exterior paint, new free-standing range, windows and HVAC. Large fenced backyard with a storage shed.

Key facts

• Gorgeous vanities
• Stainless appliances
• Tile showers

Tags

• HARD SURFACED FLOORING
• STAINLESS APPLIANCES
• FARMER'S SINK
• TILE SHOWERS
• GORGEOUS VANITIES
• NEW WINDOWS

Property features AI

Exterior

• Parking: Attached garage with automatic opener (1 covered space, 1 total garage space)
• Utilities: Public water; Sewer connected; Electricity connected; Natural gas connected; Natural gas available
• Home design: Single-family residence; One story; Slab foundation
• Construction: Shingle roof; Slab foundation
• Exterior features: Fenced backyard; Shed(s); Shingle roof

Interior

• Kitchen: Dishwasher; Free‑standing range; Refrigerator
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air; Electric cooling; Ceiling fans
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $155k.

Deal economics

• At list price, monthly cash flow is $50 ($598/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 $127k (17.8% below list).
• Recommended offer: $127k (17.8% below list) — sets the bar for 1% rule.

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: Sandia Elementary (329 students, 100% FRL); Marshall Middle (519 students, 100% FRL); Clovis High (math 31% / reading 49%, grade F, #60 of 110 statewide, top 54%, 1,544 students, 0% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 471 active listings in the ZIP; 9 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $127,296 (17.8% below list)

Questions for the listing agent

1. Built in 1963 — 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 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?
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: 0.82% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.6%
• Equity multiple: 0.57×
• Total profit: $-18,641
• Equity at exit: $23,096

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $2,067
• Equity at exit: $13,393

Cash invested: $43,372 (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: 471
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,273 high
• Mortgage (P&I): −$812
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $50

Break-even live

Break-even rent $1,210

Max offer price $154,900

Occupancy floor 91%

Sensitivity live

Price	-10% $138	-5% $94	+0% $50	+5% $6	+10% $-38
Rent	-10% $-51	-5% $0	+0% $50	+5% $100	+10% $150
Rate	-1.0pp $128	-0.5pp $89	base $50	+0.5pp $10	+1.0pp $-31

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	45d	1	0.08mi
1509 W Llano Estacado Blvd Unit b Clovis, NM	2.0	2.0	912	$1,250	$1.37	45d	1	0.26mi
513 Tucker Ave Clovis, NM	3.0	2.0	1168	$1,150	$0.98	45d	1	0.55mi
3205 N Main St Unit 301 Clovis, NM	3.0	2.0	1017	$1,350	$1.33	45d	1	0.72mi
2100 Mitchell St Unit 14 Clovis, NM	2.0	1.0	743	$750	$1.01	45d	1	0.96mi
109 State Ave Clovis, NM	2.0	1.0	816	$2,000	$2.45	45d	1	1.09mi
1500 Echols Ave Clovis, NM	2.0	1.0–2.0	912	$948	$1.04	45d	5	1.29mi
2517 Ross St Clovis, NM	2.0	1.0	991	$950	$0.96	45d	1	1.37mi
1808 Debra St Clovis, NM	3.0	2.5	1412	$1,400	$0.99	45d	1	1.38mi

Listing history 5 events

1. 2026-05-02
   status Pending
2. 2026-04-23
   listed $154,900 Active
3. 2022-09-12
   soldstatus
4. 2022-09-09
   soldstatus 319-char remark

   Show marketing remark (319 chars)

   Cute updated 3 bedroom 2 bath home with a single car garage that sits on a large corner lot. Updates include a new roof installed in May of 2022, new flooring in bathrooms, bedrooms and living area, fresh interior and exterior paint, new free-standing range, windows and HVAC. Large fenced backyard with a storage shed.

5. 2022-07-20
   listed $138,500 319-char remark

   Show marketing remark (319 chars)

   Cute updated 3 bedroom 2 bath home with a single car garage that sits on a large corner lot. Updates include a new roof installed in May of 2022, new flooring in bathrooms, bedrooms and living area, fresh interior and exterior paint, new free-standing range, windows and HVAC. Large fenced backyard with a storage shed.

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $1,239 · $103/mo
• Expected delta: +$292/yr (+$24/mo · 30.8%)

ⓘ 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: $15,276
• − Mortgage interest: −$8,677
• − Property taxes: −$947
• − Insurance: −$774
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$4,506
• Taxable loss: −$2,073
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $1,096/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

+11.8% since first listed

5 events — show timeline

• 2026-05-02 Pending — NMMLS
• 2026-04-23 Listed $154,900 NMMLS
• 2022-09-12 Sold (Public Records) — Public Records
• 2022-09-09 Sold (MLS) — NMMLS
• 2022-07-20 Listed $138,500 NMMLS

Property tax history

+10.7%/yr

Latest (2025): $947 · +3.6% YoY. Source: county tax records.