4324 W Brady Ave · Clovis, NM 88101

$190,000

3 bd · 2.0 ba · 2,064 sqft · Other · 125 Days on market

Built 1977 1.83 ac lot ↓ 5% since listing

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Why this score? — see what drove the D 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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• 1% rule +2.9/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful Double-Wide Manufactured Home in Clovis, NM---Space and Comfort on Nearly 2 Acres! Spacious double-wide home with 4 bedrooms, 2 bathrooms, and a functional layout. It features a large living room, a spacious kitchen with a dining area, and comfortable bedrooms. The home also includes two fireplaces, one in the living room and another in the dining area, adding warmth and charm. Outside, it offers a two-car garage and a vast yard, perfect for outdoor activities.

Key facts

• Spacious kitchen
• Vast yard
• Large living room

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• TWO FIREPLACES
• LARGE LIVING ROOM
• SPACIOUS KITCHEN
• VAST YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $190k.

Deal economics

• At list price, monthly cash flow is $37 ($446/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 $151k (20.6% below list).
• Recommended offer: $151k (20.6% 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-, crime F, amenities 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.
• Zoned schools: Lockwood Elementary (338 students, 100% FRL); Yucca Middle (572 students, 100% FRL); Clovis High (math 31% / reading 49%, grade F, #60 of 110 statewide, top 54%, 1,544 students, 0% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 471 active listings in the ZIP; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 125 days — a 12% lower offer ($167k) 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 $150,922 (20.6% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 10.5

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: -12.5%
• Equity multiple: 0.54×
• Total profit: $-24,539
• Equity at exit: $28,330

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,525
• Equity at exit: $16,428

Cash invested: $53,200 (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 88101

• Rents YoY: 5.5%
• Active inventory: 471
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,509 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $37

Break-even live

Break-even rent $1,462

Max offer price $190,000

Occupancy floor 93%

Sensitivity live

Price	-10% $145	-5% $91	+0% $37	+5% $-17	+10% $-70
Rent	-10% $-82	-5% $-22	+0% $37	+5% $97	+10% $156
Rate	-1.0pp $133	-0.5pp $86	base $37	+0.5pp $-12	+1.0pp $-62

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2025-12-22
   soldstatus
2. 2025-07-29
   status Pending
3. 2025-07-11
   price $190,000
4. 2025-06-25
   price $195,000
5. 2025-03-25
   listed $199,000 Active
6. 2025-02-21
   soldstatus
7. 2024-10-16
   soldstatus
8. 2023-05-11
   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: $955 · $80/mo
• Projected year-2 tax: $1,520 · $127/mo
• Expected delta: +$565/yr (+$47/mo · 59.2%)

ⓘ 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: $18,111
• − Mortgage interest: −$10,643
• − Property taxes: −$955
• − Insurance: −$950
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$5,527
• Taxable loss: −$2,862
• Est. tax savings @ 24.0%: +$687
• After-tax cash flow: $1,133/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

• 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

-4.5% since first listed

8 events — show timeline

• 2025-12-22 Sold (Public Records) — Public Records
• 2025-07-29 Pending — NMMLS
• 2025-07-11 Price Changed $190,000 NMMLS
• 2025-06-25 Price Changed $195,000 NMMLS
• 2025-03-25 Listed $199,000 NMMLS
• 2025-02-21 Sold (Public Records) — Public Records
• 2024-10-16 Sold (Public Records) — Public Records
• 2023-05-11 Sold (Public Records) — Public Records

Property tax history

+7.9%/yr

Latest (2025): $955 · +54.3% YoY. Source: county tax records.