3017 Ross St · Clovis, NM 88101

$137,500

4 bd · 2.0 ba · 1,584 sqft · Other · 157 Days on market

Built 1953 8,400 sqft lot $87/sqft · 55% below area ↓ 7% 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 +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• 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

This spacious 4 Bed 2 Bath home has two living areas, and comes with Stove, Refrigerator, Dishwasher, Garbage Disposal and W/ D Hookups. The lot is extra large so there is a big back yard. Home also includes Central Heat & Air, a 1 Car Garage, Fireplace and Fenced Yard. Room for everyone in convenient location.

Key facts

• Central heat & air
• Fenced yard
• Big back yard

Tags

• TWO LIVING AREAS
• BIG BACK YARD
• CENTRAL HEAT & AIR
• FENCED YARD
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $138k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $121k (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; 4 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).
• This rent runs 35% 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 $951 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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 1953 — 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: 1.19% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.68%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

• ARV (median comp): $305,108
• List price: $137,500
• Delta: -54.93%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.31×
• Total profit: $11,962
• Equity at exit: $20,502

10-year hold

• IRR: 18.9%
• Equity multiple: 2.75×
• Total profit: $67,427
• Equity at exit: $11,888

Cash invested: $38,500 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,642 medium
• Mortgage (P&I): −$721
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $471

Break-even live

Break-even rent $1,046

Max offer price $137,500

Occupancy floor 66%

Sensitivity live

Price	-10% $549	-5% $510	+0% $471	+5% $432	+10% $393
Rent	-10% $341	-5% $406	+0% $471	+5% $536	+10% $601
Rate	-1.0pp $540	-0.5pp $506	base $471	+0.5pp $435	+1.0pp $399

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	45d	1	0.97mi
37 Paseo Vlg Clovis, NM	3.0	2.0	1564	$1,600	$1.02	44d	1	0.99mi
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	44d	1	1.20mi
3804 Ben Hogan Dr Clovis, NM	3.0	2.0	1900	$1,900	$1.00	45d	1	1.43mi

Listing history 18 events

1. 2026-06-19
   days on market $137,500 Active 157 DOM
2. 2026-06-18
   days on market $137,500 Active 156 DOM
3. 2026-06-17
   days on market $137,500 Active 155 DOM
4. 2026-06-16
   days on market $137,500 Active 154 DOM
5. 2026-06-15
   days on market $137,500 Active 153 DOM
6. 2026-06-14
   days on market $137,500 Active 151 DOM
7. 2026-06-12
   days on market $137,500 Active 150 DOM
8. 2026-06-09
   days on market $137,500 Active 147 DOM
9. 2026-06-08
   days on market $137,500 Active 146 DOM
10. 2026-06-07
    days on market $137,500 Active 145 DOM
11. 2026-06-03
    days on market $137,500 Active 141 DOM
12. 2026-06-02
    days on market $137,500 Active 140 DOM
13. 2026-06-01
    days on market $137,500 Active 139 DOM
14. 2026-05-31
    days on market $137,500 Active 138 DOM
15. 2026-05-30
    days on market $137,500 Active 137 DOM
16. 2026-05-12
    price $137,500 318-char remark

    Show marketing remark (318 chars)

    This spacious 4 Bed 2 Bath home has two living areas, and comes with Stove, Refrigerator, Dishwasher, Garbage Disposal and W/ D Hookups. The lot is extra large so there is a big back yard. Home also includes Central Heat & Air, a 1 Car Garage, Fireplace and Fenced Yard. Room for everyone in convenient location.

17. 2026-01-13
    listed $148,550 Active 318-char remark

    Show marketing remark (318 chars)

    This spacious 4 Bed 2 Bath home has two living areas, and comes with Stove, Refrigerator, Dishwasher, Garbage Disposal and W/ D Hookups. The lot is extra large so there is a big back yard. Home also includes Central Heat & Air, a 1 Car Garage, Fireplace and Fenced Yard. Room for everyone in convenient location.

18. 2025-07-10
    listed $148,550 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: $577 · $48/mo
• Projected year-2 tax: $1,100 · $92/mo
• Expected delta: +$523/yr (+$44/mo · 90.8%)

ⓘ 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 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: $19,706
• − Mortgage interest: −$7,702
• − Property taxes: −$577
• − Insurance: −$688
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$4,000
• Taxable income: $3,586
• Est. tax owed @ 24.0%: −$861
• After-tax cash flow: $4,790/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

-7.4% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $137,500 NMMLS
• 2026-01-13 Listed $148,550 NMMLS
• 2025-07-10 Listed $148,550 NMMLS

Property tax history

+3.8%/yr

Latest (2025): $577 · +3.6% YoY. Source: county tax records.