908 Harvard St · Clovis, NM 88101

$185,000

4 bd · 3.0 ba · 2,280 sqft · Other · 57 Days on market

Built 1961

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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 +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• 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

Versatile Home with Endless Potential in Central Clovis! Discover this spacious and flexible property in the heart of Clovis, NM, offering the perfect canvas to create your dream home. Currently configured for comfort, this home has the potential to become a 4-bedroom, 3-bath residence, or a 3-bedroom home with mother-in-law quarters or a private apartment. Looking for something ideal for extended family or rental income? Inside, you'll find incredible storage space, generous living areas, and room for everyone to spread out, making it a place where lasting memories are made. Step outside to a great backyard, perfect for entertaining, relaxing, or play, complete with a fully functioning s

Key facts

• Garage
• Built 1961
• Listed 56 days

Property features AI

Exterior

• Parking: Attached carport; 1 covered parking space; 1 total garage space with garage door opener
• Utilities: Public water; Electricity connected; Cable available
• Home design: Single-family residence; One story
• Construction: Brick and frame construction with blown-in insulation; Metal roof; Slab foundation; Built with house-level construction details
• Exterior features: Rain gutters; Irregular lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range hood; Free-standing range; Refrigerator; Ice maker
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Ceiling fan cooling; Electric cooling; Window units
• Interior features: Ceiling fans; Walk-in closets; Window blinds; Gas-started fireplace (1)
• Laundry & utility: Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $185k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/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 $171k (7.7% below list).
• Recommended offer: $171k (7.7% 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-, 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; 1 comparable units currently listed for rent nearby; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 57 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,778 (7.7% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.92% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 9.0

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-11,030
• Equity at exit: $27,584

10-year hold

• IRR: 6.6%
• Equity multiple: 1.54×
• Total profit: $28,179
• Equity at exit: $15,995

Cash invested: $51,800 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,708 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$74 /mo · $883/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $228

Break-even live

Break-even rent $1,419

Max offer price $185,000

Occupancy floor 82%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	44d	1	1.20mi

Listing history 17 events

1. 2026-06-19
   days on market $185,000 Active 57 DOM
2. 2026-06-18
   days on market $185,000 Active 56 DOM
3. 2026-06-17
   days on market $185,000 Active 55 DOM
4. 2026-06-16
   days on market $185,000 Active 54 DOM
5. 2026-06-15
   days on market $185,000 Active 53 DOM
6. 2026-06-14
   days on market $185,000 Active 51 DOM
7. 2026-06-12
   pricedays on market $185,000 Active 50 DOM
8. 2026-06-09
   days on market $199,900 Active 47 DOM
9. 2026-06-08
   days on market $199,900 Active 46 DOM
10. 2026-06-07
    days on market $199,900 Active 45 DOM
11. 2026-06-03
    days on market $199,900 Active 41 DOM
12. 2026-06-02
    days on market $199,900 Active 40 DOM
13. 2026-06-01
    days on market $199,900 Active 39 DOM
14. 2026-05-31
    days on market $199,900 Active 38 DOM
15. 2026-05-30
    days on market $199,900 Active 37 DOM
16. 2026-05-02
    status Pending
17. 2026-03-26
    listed $199,900 Active

ⓘ 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: $883 · $74/mo
• Projected year-2 tax: $1,480 · $123/mo
• Expected delta: +$597/yr (+$50/mo · 67.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 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: $20,493
• − Mortgage interest: −$10,363
• − Property taxes: −$883
• − Insurance: −$925
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$5,382
• Taxable loss: −$338
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $2,821/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

2 events — show timeline

• 2026-05-02 Pending — NMMLS
• 2026-03-26 Listed $199,900 NMMLS

Property tax history

+6.6%/yr

Latest (2025): $883 · +26.2% YoY. Source: county tax records.