1009 S Main Ave · Portales, NM 88130

$90,000

2 bd · 1.0 ba · 1,056 sqft · Other · 106 Days on market

Built 1986 0.32 ac lot ↓ 18% 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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ATTENTION GARDENING ENTHUSIATS, come take a look at this property where space, time, care and creativey have space to run free. This CUTE two bedroom one bath comes with an additional lot to create a beautiful yard oasis. It could perfect for a new construction or possibly a manufactured home. Newly redesignated into the 500 year flood plain, therefore, flood insurance would be optional. Large carport structure is ready to bloosom into a garage. Call a broker today and schedule your private showing to see what possibilties this proeprty has to offer.

Key facts

• Additional lot
• 0.32 acre lot
• 3 garage spots

Tags

• ADDITIONAL LOT
• LARGE CARPORT STRUCTURE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($901 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#63 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Portales Municipal Schools (town): math 17% / reading 57% proficiency, ranked #15 of 29 in NM (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.4%/yr); 128 active listings in the ZIP; 7 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; 31 units permitted in Roosevelt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Roosevelt County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.00% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.38% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-2,531
• Equity at exit: $13,419

10-year hold

• IRR: 9.3%
• Equity multiple: 1.79×
• Total profit: $19,912
• Equity at exit: $7,782

Cash invested: $25,200 (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 88130

• Rents YoY: 5.4%
• Active inventory: 128
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $901 high
• Mortgage (P&I): −$472
• Tax from tax record: −$47 /mo · $565/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $155

Break-even live

Break-even rent $704

Max offer price $90,000

Occupancy floor 78%

Sensitivity live

Price	-10% $206	-5% $180	+0% $155	+5% $130	+10% $104
Rent	-10% $84	-5% $119	+0% $155	+5% $191	+10% $226
Rate	-1.0pp $200	-0.5pp $178	base $155	+0.5pp $132	+1.0pp $108

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 South Avenue C Unit C Portales, NM	2.0	1.0	788	$1,100	$1.40	44d	1	0.24mi
501 South Avenue B Unit 1 Portales, NM	2.0	1.0	756	$825	$1.09	44d	1	0.36mi
506 E 1st St Portales, NM	3.0	1.0	1100	$675	$0.61	45d	1	0.61mi
901 W 14th St Unit A Portales, NM	1.0	1.0	875	$675	$0.77	44d	1	0.73mi
312 North Avenue B Portales, NM	3.0	3.0	1500	$1,250	$0.83	44d	1	0.79mi
1222 W Date St Unit C Portales, NM	2.0	1.0	829	$750	$0.90	44d	1	1.05mi
1540 Arizona Dr Apt 20 Portales, NM	2.0	1.0	744	$725	$0.97	44d	1	1.42mi

Listing history 20 events

1. 2026-06-19
   days on market $90,000 Active 106 DOM
2. 2026-06-18
   days on market $90,000 Active 105 DOM
3. 2026-06-17
   days on market $90,000 Active 104 DOM
4. 2026-06-16
   days on market $90,000 Active 103 DOM
5. 2026-06-15
   days on market $90,000 Active 102 DOM
6. 2026-06-14
   days on market $90,000 Active 100 DOM
7. 2026-06-12
   days on market $90,000 Active 99 DOM
8. 2026-06-09
   days on market $90,000 Active 96 DOM
9. 2026-06-08
   days on market $90,000 Active 95 DOM
10. 2026-06-07
    days on market $90,000 Active 94 DOM
11. 2026-06-05
    days on market $90,000 Active 91 DOM
12. 2026-06-03
    days on market $90,000 Active 90 DOM
13. 2026-06-02
    days on market $90,000 Active 89 DOM
14. 2026-06-01
    days on market $90,000 Active 88 DOM
15. 2026-05-31
    days on market $90,000 Active 87 DOM
16. 2026-05-30
    days on market $90,000 Active 86 DOM
17. 2026-03-05
    listed $90,000 Active 556-char remark

    Show marketing remark (556 chars)

    ATTENTION GARDENING ENTHUSIATS, come take a look at this property where space, time, care and creativey have space to run free. This CUTE two bedroom one bath comes with an additional lot to create a beautiful yard oasis. It could perfect for a new construction or possibly a manufactured home. Newly redesignated into the 500 year flood plain, therefore, flood insurance would be optional. Large carport structure is ready to bloosom into a garage. Call a broker today and schedule your private showing to see what possibilties this proeprty has to offer.

18. 2026-02-04
    price $99,900
19. 2025-10-14
    price $109,900
20. 2022-05-10
    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: $565 · $47/mo
• Projected year-2 tax: $720 · $60/mo
• Expected delta: +$155/yr (+$13/mo · 27.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°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: $10,808
• − Mortgage interest: −$5,041
• − Property taxes: −$565
• − Insurance: −$450
• − Repairs & maintenance: −$865
• − Management: −$865
• − Depreciation: −$2,618
• Taxable income: $404
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $1,763/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: Portales Municipal Schools
• NCES district ID: 3502100
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 57% ▲ 20.00%
• Median HH income: $36,151
• Composite: 30.52/100
• National rank: #6209
• State rank: #15 of 29 in NM

Livability — Portales

• Score: 64/100
• State rank: #63
• US rank: #13640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portales, NM
• County: Roosevelt County · 17,842 people
• City population: 17,842
• Metro: Portales, NM
• Population (ZIP): 17,842
• Household income: $52,434
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 574.0

Population outlook (Roosevelt County) Hauer SSP2

• Today (2025): 16,821 people
• By 2030: 15,818 · -6.0%
• By 2040: 13,766 · -18.2%
• By 2050: 12,152 · -27.8%
• By 2075: 9,601 · -42.9%
• By 2100: 8,241 · -51.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 48% Hispanic / Latino 45% Two or more races 18% Native American 1%
• Hispanic origin (detail): Mexican 39% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 78% English-only · Spanish 21%

Political lean MEDSL · Roosevelt

• 2024 margin: Solid R (+43.2) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -13.3pp toward R · 2008: -29.9pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+42.9 2016: R+41.3 2012: R+38.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.72%
• Current HPI: 108.0555
• Rent YoY: ▲ 5.38%
• Metro: Portales, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-18.1% since first listed

4 events — show timeline

• 2026-03-05 Listed $90,000 NMMLS
• 2026-02-04 Price Changed $99,900 NMMLS
• 2025-10-14 Price Changed $109,900 NMMLS
• 2022-05-10 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $565 · +2.0% YoY. Source: county tax records.