216 N Tennessee St · Clovis, NM 88101

$139,000

2 bd · 1.0 ba · 1,392 sqft · Other · 170 Days on market

Built 1928 $100/sqft · 43% below area Est $244k · 43% under ↓ 2% since listing

---

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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +4.8/10.0
• 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 Beautiful 2 Bedrooms perfect for small families or office space, 1 well maintained bathroom. 1392 SQFT of cozy living space. A large backyard with a workshop! Don’t miss this fantastic opportunity! Perfect for homeowners or investors alike. Come see the home today!

Key facts

• Large backyard
• Workshop
• Built 1928

Tags

• LARGE BACKYARD
• WORKSHOP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $139k.

Deal economics

• At list price, monthly cash flow is $266 ($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 $136k (1.9% below list).
• Recommended offer: $122k (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; 6 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 $961 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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 1928 — 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: 0.98% ✗
• Cap rate: 8.59%
• Cash-on-cash: 8.20%
• DSCR: 1.36
• GRM: 8.5

CMA / ARV

• ARV (median comp): $244,424
• List price: $139,000
• Delta: -43.13%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,086
• Equity at exit: $20,725

10-year hold

• IRR: 10.5%
• Equity multiple: 1.90×
• Total profit: $35,144
• Equity at exit: $12,018

Cash invested: $38,920 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$729
• Tax from tax record: −$24 /mo · $290/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $266

Break-even live

Break-even rent $1,027

Max offer price $139,000

Occupancy floor 75%

Sensitivity live

Price	-10% $345	-5% $305	+0% $266	+5% $68	+10% $20
Rent	-10% $158	-5% $212	+0% $266	+5% $320	+10% $374
Rate	-1.0pp $336	-0.5pp $301	base $266	+0.5pp $230	+1.0pp $193

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2365 Marlene Blvd Unit B Clovis, NM	2.0	2.0	956	$2,000	$2.09	44d	1	0.68mi
2101 Bobwhite Ct Unit B Clovis, NM	2.0	2.0	981	$1,200	$1.22	44d	1	0.73mi
2112 Fred Daugherty Ave Apt C Clovis, NM	2.0	1.0	900	$925	$1.03	44d	1	1.00mi
2500 E 14th St Unit 2502-B Clovis, NM	2.0	1.0	900	$1,195	$1.33	44d	1	1.07mi
1313 Mission Dr Unit a Clovis, NM	2.0	2.0	1055	$1,400	$1.33	44d	1	1.12mi
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	45d	1	1.19mi

Listing history 18 events

1. 2026-06-19
   days on market $139,000 Active 170 DOM
2. 2026-06-18
   days on market $139,000 Active 169 DOM
3. 2026-06-17
   days on market $139,000 Active 168 DOM
4. 2026-06-16
   days on market $139,000 Active 167 DOM
5. 2026-06-16
   price $139,000 Active 166 DOM
6. 2026-06-15
   days on market $141,500 Active 166 DOM
7. 2026-06-14
   days on market $141,500 Active 164 DOM
8. 2026-06-12
   days on market $141,500 Active 163 DOM
9. 2026-06-09
   days on market $141,500 Active 160 DOM
10. 2026-06-08
    days on market $141,500 Active 159 DOM
11. 2026-06-07
    days on market $141,500 Active 158 DOM
12. 2026-06-03
    days on market $141,500 Active 154 DOM
13. 2026-06-02
    days on market $141,500 Active 153 DOM
14. 2026-06-01
    days on market $141,500 Active 152 DOM
15. 2026-05-31
    days on market $141,500 Active 151 DOM
16. 2026-05-30
    days on market $141,500 Active 150 DOM
17. 2026-01-29
    price $141,500 277-char remark

    Show marketing remark (277 chars)

    This Beautiful 2 Bedrooms perfect for small families or office space, 1 well maintained bathroom. 1392 SQFT of cozy living space. A large backyard with a workshop! Don’t miss this fantastic opportunity! Perfect for homeowners or investors alike. Come see the home today!

18. 2025-12-31
    listed $145,000 Active 277-char remark

    Show marketing remark (277 chars)

    This Beautiful 2 Bedrooms perfect for small families or office space, 1 well maintained bathroom. 1392 SQFT of cozy living space. A large backyard with a workshop! Don’t miss this fantastic opportunity! Perfect for homeowners or investors alike. Come see the home today!

ⓘ 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: $290 · $24/mo
• Projected year-2 tax: $1,112 · $93/mo
• Expected delta: +$822/yr (+$68/mo · 283.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 6 d/yr ≥97°F today · 16 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: $16,359
• − Mortgage interest: −$7,786
• − Property taxes: −$290
• − Insurance: −$695
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$4,044
• Taxable income: $926
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $2,969/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

-2.4% since first listed

2 events — show timeline

• 2026-01-29 Price Changed $141,500 NMMLS
• 2025-12-31 Listed $145,000 NMMLS

Property tax history

+4.0%/yr

Latest (2025): $290 · +3.9% YoY. Source: county tax records.