3522 B Adenmore Ct · Clovis, NM 88101

$119,000

2 bd · 1.5 ba · 1,240 sqft · Other · 182 Days on market

Built 1973 2,745 sqft lot

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• 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 MLS

Welcome to this conveniently located townhouse! This two-story townhouse features 2 bedrooms, 1.5 bathrooms, and a 1-car garage. The kitchen comes equipped with an electric stove, refrigerator, dishwasher, and a kitchen bar for casual dining. Enjoy meals in the formal dining room or step out onto the balcony for some fresh air. The spacious closets provide ample storage space, while the carpet and vinyl flooring add a cozy touch. Stay comfortable year-round with forced central heat/air and ceiling fans. The bathroom vanity and shower/tub combo offer convenience and functionality.

Key facts

• Kitchen bar
• Formal dining room
• Two story townhouse

Tags

• TWO STORY TOWNHOUSE
• ELECTRIC STOVE
• KITCHEN BAR
• FORMAL DINING ROOM
• BALCONY
• SPACIOUS CLOSETS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% 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; 10 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 $823 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.03% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 8.1

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,259
• Equity at exit: $17,743

10-year hold

• IRR: 11.0%
• Equity multiple: 1.95×
• Total profit: $31,799
• Equity at exit: $10,289

Cash invested: $33,320 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,229 high
• Mortgage (P&I): −$624
• Tax from tax record: −$65 /mo · $777/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $233

Break-even live

Break-even rent $935

Max offer price $119,000

Occupancy floor 76%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3520 Adenmor Ct Clovis, NM	2.0	1.5	1230	$1,200	$0.98	44d	1	0.01mi
800 Laurelwood Dr Unit 804-2 Clovis, NM	2.0	1.0	897	$1,250	$1.39	44d	1	0.22mi
117 Townsgate Plz Unit I Clovis, NM	1.0	1.0	853	$1,000	$1.17	44d	1	0.81mi
2517 Ross St Clovis, NM	2.0	1.0	991	$950	$0.96	44d	1	0.82mi
3205 N Main St Unit 301 Clovis, NM	3.0	2.0	1017	$1,350	$1.33	44d	1	0.87mi
112 Cades Ct Clovis, NM	3.0	2.0	1478	$1,800	$1.22	44d	1	1.05mi
144 Chisum Dr Unit A 1244 Clovis, NM	2.0	2.0	1062	$1,550	$1.46	44d	1	1.14mi
109 State Ave Clovis, NM	2.0	1.0	816	$2,000	$2.45	44d	1	1.15mi
2100 Mitchell St Unit 14 Clovis, NM	2.0	1.0	743	$750	$1.01	44d	1	1.44mi
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	44d	1	1.49mi

Listing history 16 events

1. 2026-06-14
   days on market $119,000 Active 182 DOM
2. 2026-06-12
   days on market $119,000 Active 181 DOM
3. 2026-06-09
   days on market $119,000 Active 178 DOM
4. 2026-06-08
   days on market $119,000 Active 177 DOM
5. 2026-06-07
   days on market $119,000 Active 176 DOM
6. 2026-06-03
   days on market $119,000 Active 172 DOM
7. 2026-06-02
   days on market $119,000 Active 171 DOM
8. 2026-06-01
   days on market $119,000 Active 170 DOM
9. 2026-05-31
   days on market $119,000 Active 169 DOM
10. 2026-05-30
    days on market $119,000 Active 168 DOM
11. 2025-12-13
    listed $119,000 Active 586-char remark

    Show marketing remark (586 chars)

    Welcome to this conveniently located townhouse! This two-story townhouse features 2 bedrooms, 1.5 bathrooms, and a 1-car garage. The kitchen comes equipped with an electric stove, refrigerator, dishwasher, and a kitchen bar for casual dining. Enjoy meals in the formal dining room or step out onto the balcony for some fresh air. The spacious closets provide ample storage space, while the carpet and vinyl flooring add a cozy touch. Stay comfortable year-round with forced central heat/air and ceiling fans. The bathroom vanity and shower/tub combo offer convenience and functionality.

12. 2022-05-23
    price $950
13. 2019-08-26
    soldstatus
14. 2019-08-21
    soldstatus 479-char remark

    Show marketing remark (479 chars)

    Filled to the brim with CHARM is what you will find in this quiet home! The HERRINGBONE PATTERN offers that unique modern look! The OPEN CONCEPT is ideal for relaxing or entertaining! This 2 bedroom home with 1 1/2 bathrooms features the amount of space everyone desires! The master ensuite is filled to the brim with ROOM! Spacious with 2 closets and a balcony! The spare bedroom is also great size. Laundry will also be a breeze and there's a garage! This is one CHARMING HOME!

15. 2019-03-19
    listed $79,900 479-char remark

    Show marketing remark (479 chars)

    Filled to the brim with CHARM is what you will find in this quiet home! The HERRINGBONE PATTERN offers that unique modern look! The OPEN CONCEPT is ideal for relaxing or entertaining! This 2 bedroom home with 1 1/2 bathrooms features the amount of space everyone desires! The master ensuite is filled to the brim with ROOM! Spacious with 2 closets and a balcony! The spare bedroom is also great size. Laundry will also be a breeze and there's a garage! This is one CHARMING HOME!

16. 2018-06-26
    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: $777 · $65/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$175/yr (+$15/mo · 22.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥97°F today · 17 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: $14,754
• − Mortgage interest: −$6,666
• − Property taxes: −$777
• − Insurance: −$595
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$3,462
• Taxable income: $894
• Est. tax owed @ 24.0%: −$215
• After-tax cash flow: $2,581/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

+48.9% since first listed

6 events — show timeline

• 2025-12-13 Listed $119,000 NMMLS
• 2022-05-23 Price Changed $950 RENT.
• 2019-08-26 Sold (Public Records) — Public Records
• 2019-08-21 Sold (MLS) — NMMLS
• 2019-03-19 Listed $79,900 NMMLS
• 2018-06-26 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $777 · +3.7% YoY. Source: county tax records.