900 E 10 St · Clovis, NM 88101

$115,000

3 bd · 1.0 ba · 1,126 sqft · Other · 16 Days on market

Built 1946 ↓ 4% 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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• 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

This SUPER CUTE 3-bedroom, 1-bath home offers the perfect combination of comfort, layout, and location. Featuring an open-concept design, the home feels bright and inviting with plenty of windows that bring in an abundance of natural light throughout. Home has been recently painted so the interior feels clean and updated, with gorgeous flooring in the kitchen and dining area that adds warmth and style. The layout is both functional and welcoming, making it a great fit for the next lucky buyer. Located near restaurants and shopping, and just a short distance from Hillcrest Park, this home offers convenience with easy access to one of Clovis’s most loved outdoor spaces. The property als

Key facts

• Garage
• Built 1946
• Listed 16 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $795 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 $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — 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. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 7.5

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: 4.4%
• Equity multiple: 1.17×
• Total profit: $5,562
• Equity at exit: $17,147

10-year hold

• IRR: 15.8%
• Equity multiple: 2.43×
• Total profit: $46,000
• Equity at exit: $9,943

Cash invested: $32,200 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,275 high
• Mortgage (P&I): −$603
• Tax from tax record: −$28 /mo · $337/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $328

Break-even live

Break-even rent $860

Max offer price $115,000

Occupancy floor 69%

Sensitivity live

Price	-10% $393	-5% $361	+0% $328	+5% $296	+10% $263
Rent	-10% $228	-5% $278	+0% $328	+5% $379	+10% $429
Rate	-1.0pp $386	-0.5pp $358	base $328	+0.5pp $298	+1.0pp $268

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 E 5th St Unit 5 Clovis, NM	2.0	1.0	800	$850	$1.06	45d	1	0.51mi
2112 Fred Daugherty Ave Apt C Clovis, NM	2.0	1.0	900	$925	$1.03	45d	1	1.05mi
109 State Ave Clovis, NM	2.0	1.0	816	$2,000	$2.45	45d	1	1.08mi
2101 Bobwhite Ct Unit B Clovis, NM	2.0	2.0	981	$1,200	$1.22	45d	1	1.10mi
2517 Ross St Clovis, NM	2.0	1.0	991	$950	$0.96	45d	1	1.10mi
2365 Marlene Blvd Unit B Clovis, NM	2.0	2.0	956	$2,000	$2.09	45d	1	1.11mi
2100 Mitchell St Unit 14 Clovis, NM	2.0	1.0	743	$750	$1.01	45d	1	1.18mi
2500 E 14th St Unit 2502-B Clovis, NM	2.0	1.0	900	$1,195	$1.33	45d	1	1.25mi
1313 Mission Dr Unit a Clovis, NM	2.0	2.0	1055	$1,400	$1.33	45d	1	1.41mi

Listing history 7 events

1. 2026-05-08
   soldstatus
2. 2026-04-12
   status Pending
3. 2026-03-26
   listed $115,000 Active
4. 2025-09-23
   price $114,000
5. 2025-09-04
   price $116,000
6. 2025-07-17
   price $118,500
7. 2025-07-02
   price $120,000

ⓘ 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: $337 · $28/mo
• Projected year-2 tax: $920 · $77/mo
• Expected delta: +$583/yr (+$49/mo · 172.6%)

ⓘ 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 2/10 Low
• 🌡 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: $15,302
• − Mortgage interest: −$6,442
• − Property taxes: −$337
• − Insurance: −$575
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$3,345
• Taxable income: $2,154
• Est. tax owed @ 24.0%: −$517
• After-tax cash flow: $3,422/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

-4.2% since first listed

7 events — show timeline

• 2026-05-08 Sold (Public Records) — Public Records
• 2026-04-12 Pending — NMMLS
• 2026-03-26 Listed $115,000 NMMLS
• 2025-09-23 Price Changed $114,000 NMMLS
• 2025-09-04 Price Changed $116,000 NMMLS
• 2025-07-17 Price Changed $118,500 NMMLS
• 2025-07-02 Price Changed $120,000 NMMLS

Property tax history

+3.6%/yr

Latest (2025): $337 · +3.5% YoY. Source: county tax records.