617 S Ave A Ave · Portales, NM 88130

$59,900

2 bd · 2.0 ba · 1,360 sqft · Other · 610 Days on market

7,000 sqft lot ↓ 20% 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 +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

Key facts

• Two homes in one
• Large kitchen
• Large back yard

Tags

• TWO HOMES IN ONE
• LARGE KITCHEN
• LARGE BACK YARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% 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; 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; 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 610 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 610 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.72% ✓
• Cap rate: 15.35%
• Cash-on-cash: 32.36%
• DSCR: 2.44
• GRM: 4.8

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: 17.2%
• Equity multiple: 1.72×
• Total profit: $12,019
• Equity at exit: $8,931

10-year hold

• IRR: 27.6%
• Equity multiple: 3.76×
• Total profit: $46,287
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,030 high
• Mortgage (P&I): −$314
• Tax from tax record: −$23 /mo · $273/yr
• Insurance: −$25
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $300

Break-even live

Break-even rent $650

Max offer price $59,900

Occupancy floor 66%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 E 1st St Portales, NM	3.0	1.0	1100	$675	$0.61	44d	1	0.41mi
312 North Avenue B Portales, NM	3.0	3.0	1500	$1,250	$0.83	43d	1	0.53mi
901 W 14th St Unit A Portales, NM	1.0	1.0	875	$675	$0.77	43d	1	0.58mi
1700 South Avenue B Unit B Portales, NM	3.0	2.0	1706	$1,800	$1.06	43d	1	0.64mi
1802 South Avenue A Unit A Portales, NM	3.0	2.0	1570	$1,150	$0.73	43d	1	0.76mi

Listing history 25 events

1. 2026-06-19
   days on market $59,900 Active 610 DOM
2. 2026-06-18
   days on market $59,900 Active 609 DOM
3. 2026-06-17
   days on market $59,900 Active 608 DOM
4. 2026-06-16
   days on market $59,900 Active 607 DOM
5. 2026-06-15
   days on market $59,900 Active 606 DOM
6. 2026-06-14
   days on market $59,900 Active 604 DOM
7. 2026-06-12
   days on market $59,900 Active 603 DOM
8. 2026-06-09
   days on market $59,900 Active 600 DOM
9. 2026-06-08
   days on market $59,900 Active 599 DOM
10. 2026-06-07
    days on market $59,900 Active 598 DOM
11. 2026-06-05
    days on market $59,900 Active 595 DOM
12. 2026-06-03
    days on market $59,900 Active 594 DOM
13. 2026-06-02
    days on market $59,900 Active 593 DOM
14. 2026-06-01
    days on market $59,900 Active 592 DOM
15. 2026-05-31
    days on market $59,900 Active 591 DOM
16. 2026-05-30
    days on market $59,900 Active 590 DOM
17. 2026-02-21
    price $59,900 435-char remark

    Show marketing remark (435 chars)

    Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

18. 2025-10-22
    price $62,500 435-char remark

    Show marketing remark (435 chars)

    Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

19. 2025-09-18
    status Active 435-char remark

    Show marketing remark (435 chars)

    Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

20. 2025-09-18
    historical 435-char remark

    Show marketing remark (435 chars)

    Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

21. 2025-04-09
    price $69,000 435-char remark

    Show marketing remark (435 chars)

    Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

22. 2024-10-17
    listed $75,000 Active 435-char remark

    Show marketing remark (435 chars)

    Investment opportunity. Two homes in one. The main home features 980 square feet, large kitchen, 2 bedrooms and 1 bathroom. The guest house features 380 square feet and offers a studio style space with kitchen and bathroom. The large back yard offers additional space and parking. If you are looking for an income producing property that wont break the budget this is it. Great return on investment. Call today for you private viewing.

23. 2024-09-12
    soldstatus
24. 2024-01-08
    soldstatus
25. 2014-01-07
    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: $273 · $23/mo
• Projected year-2 tax: $479 · $40/mo
• Expected delta: +$207/yr (+$17/mo · 75.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 19 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: $12,366
• − Mortgage interest: −$3,355
• − Property taxes: −$273
• − Insurance: −$2,124
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$1,743
• Taxable income: $2,893
• Est. tax owed @ 24.0%: −$694
• After-tax cash flow: $2,909/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

-20.1% since first listed

9 events — show timeline

• 2026-02-21 Price Changed $59,900 NMMLS
• 2025-10-22 Price Changed $62,500 NMMLS
• 2025-09-18 Relisted — NMMLS
• 2025-09-18 Delisted — NMMLS
• 2025-04-09 Price Changed $69,000 NMMLS
• 2024-10-17 Listed $75,000 NMMLS
• 2024-09-12 Sold (Public Records) — Public Records
• 2024-01-08 Sold (Public Records) — Public Records
• 2014-01-07 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $273 · +4.8% YoY. Source: county tax records.