304 Clayton Ave · Hagerman, NM 88232

$125,000

3 bd · 2.0 ba · 285 sqft · SingleFamily public records · 455 Days on market

Built 1991 0.41 ac lot ↓ 7% 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0

Listing remarks MLS

Affordable 3-Bedroom Home in Hagerman, NM! Conveniently located between Roswell and Artesia this 3 bedroom, 2 bath manufactured home offers 1,440 sq ft of comfortable living space on a large 17,745 sq ft lot—plenty of room to spread out, park, or enjoy outdoor living. Spacious lot with tons of potential located in a quiet small-town setting with easy access to nearby cities. This home requires specialty financing, which can actually be a great option for many buyers. The house has been moved once before. There are lenders who regularly help buyers with homes like this, making the process easier than you might expect. Make sure your lender is able to do a loan for this specific situation. This is a great opportunity to own a home with space, value, and flexibility in a desirable location.

Key facts

• Front porch
• Large lot
• Carport

Tags

• LARGE LOT
• CARPORT
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (28.7% below list).
• Recommended offer: $89k (28.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#185 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, employment D+, crime F.
• Zoned schools: Hagerman Elementary (180 students, 100% FRL); Hagerman Middle (74 students, 100% FRL); Hagerman High (114 students, 97% FRL).
• Market conditions: 21 active listings in the ZIP; 88 units permitted in Chaves County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 455 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,118 (28.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 455 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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 D-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: 0.71% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.48%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.14×
• Total profit: $4,893
• Equity at exit: $56,205

10-year hold

• IRR: 5.9%
• Equity multiple: 1.91×
• Total profit: $31,721
• Equity at exit: $86,619

Cash invested: $35,000 (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 88232

• Active inventory: 21
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $891 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $-160

Break-even live

Break-even rent $1,093

Max offer price $101,875

Occupancy floor —

Sensitivity live

Price	-10% $-73	-5% $-117	+0% $-160	+5% $-203	+10% $-246
Rent	-10% $-230	-5% $-195	+0% $-160	+5% $-125	+10% $-89
Rate	-1.0pp $-97	-0.5pp $-128	base $-160	+0.5pp $-192	+1.0pp $-225

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $125,000 Active 455 DOM
2. 2026-06-19
   days on market $125,000 Active 452 DOM
3. 2026-06-18
   days on market $125,000 Active 451 DOM
4. 2026-06-17
   days on market $125,000 Active 450 DOM
5. 2026-06-16
   days on market $125,000 Active 449 DOM
6. 2026-06-15
   days on market $125,000 Active 448 DOM
7. 2026-06-14
   days on market $125,000 Active 446 DOM
8. 2026-06-12
   days on market $125,000 Active 445 DOM
9. 2026-06-09
   days on market $125,000 Active 442 DOM
10. 2026-06-08
    days on market $125,000 Active 441 DOM
11. 2026-06-07
    days on market $125,000 Active 440 DOM
12. 2026-06-05
    days on market $125,000 Active 437 DOM
13. 2026-06-03
    days on market $125,000 Active 436 DOM
14. 2026-06-02
    days on market $125,000 Active 435 DOM
15. 2026-06-01
    days on market $125,000 Active 434 DOM
16. 2026-05-31
    days on market $125,000 Active 433 DOM
17. 2026-05-30
    days on market $125,000 Active 432 DOM
18. 2026-03-23
    price $125,000 805-char remark

    Show marketing remark (805 chars)

    Affordable 3-Bedroom Home in Hagerman, NM! Conveniently located between Roswell and Artesia this 3 bedroom, 2 bath manufactured home offers 1,440 sq ft of comfortable living space on a large 17,745 sq ft lot—plenty of room to spread out, park, or enjoy outdoor living. Spacious lot with tons of potential located in a quiet small-town setting with easy access to nearby cities. This home requires specialty financing, which can actually be a great option for many buyers. The house has been moved once before. There are lenders who regularly help buyers with homes like this, making the process easier than you might expect. Make sure your lender is able to do a loan for this specific situation. This is a great opportunity to own a home with space, value, and flexibility in a desirable location.

19. 2025-12-11
    price $128,000 805-char remark

    Show marketing remark (805 chars)

    Affordable 3-Bedroom Home in Hagerman, NM! Conveniently located between Roswell and Artesia this 3 bedroom, 2 bath manufactured home offers 1,440 sq ft of comfortable living space on a large 17,745 sq ft lot—plenty of room to spread out, park, or enjoy outdoor living. Spacious lot with tons of potential located in a quiet small-town setting with easy access to nearby cities. This home requires specialty financing, which can actually be a great option for many buyers. The house has been moved once before. There are lenders who regularly help buyers with homes like this, making the process easier than you might expect. Make sure your lender is able to do a loan for this specific situation. This is a great opportunity to own a home with space, value, and flexibility in a desirable location.

20. 2025-04-25
    price $132,900 805-char remark

    Show marketing remark (805 chars)

    Affordable 3-Bedroom Home in Hagerman, NM! Conveniently located between Roswell and Artesia this 3 bedroom, 2 bath manufactured home offers 1,440 sq ft of comfortable living space on a large 17,745 sq ft lot—plenty of room to spread out, park, or enjoy outdoor living. Spacious lot with tons of potential located in a quiet small-town setting with easy access to nearby cities. This home requires specialty financing, which can actually be a great option for many buyers. The house has been moved once before. There are lenders who regularly help buyers with homes like this, making the process easier than you might expect. Make sure your lender is able to do a loan for this specific situation. This is a great opportunity to own a home with space, value, and flexibility in a desirable location.

21. 2025-03-24
    listed $135,000 Active 805-char remark

    Show marketing remark (805 chars)

    Affordable 3-Bedroom Home in Hagerman, NM! Conveniently located between Roswell and Artesia this 3 bedroom, 2 bath manufactured home offers 1,440 sq ft of comfortable living space on a large 17,745 sq ft lot—plenty of room to spread out, park, or enjoy outdoor living. Spacious lot with tons of potential located in a quiet small-town setting with easy access to nearby cities. This home requires specialty financing, which can actually be a great option for many buyers. The house has been moved once before. There are lenders who regularly help buyers with homes like this, making the process easier than you might expect. Make sure your lender is able to do a loan for this specific situation. This is a great opportunity to own a home with space, value, and flexibility in a desirable location.

22. 2010-03-26
    soldstatus
23. 2009-05-28
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 21 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: $10,694
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$856
• − Management: −$856
• − Depreciation: −$3,636
• Taxable loss: −$4,155
• Est. tax savings @ 24.0%: +$997
• After-tax cash flow: $-921/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)

No district data.

Livability — Hagerman

• Score: 56/100
• State rank: #185
• US rank: #22744

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D+ Housing A Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hagerman, NM
• Population (ZIP): 2,713

Population outlook (Chaves County) Hauer SSP2

• Today (2025): 66,122 people
• By 2030: 66,351 · +0.3%
• By 2040: 66,818 · +1.1%
• By 2050: 66,928 · +1.2%
• By 2075: 65,474 · -1.0%
• By 2100: 58,943 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 55% White 35% Two or more races 25% Native American 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 54% English-only · Spanish 45%

Political lean MEDSL · Chaves

• 2024 margin: Solid R (+44.8) · D 26.8% · R 71.6% · Other 1.6%
• 2008→2024 swing: -20.2pp toward R · 2008: -24.7pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+41.3 2016: R+36.4 2012: R+32.4 2008: R+24.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.4% since first listed

6 events — show timeline

• 2026-03-23 Price Changed $125,000 NMMLS
• 2025-12-11 Price Changed $128,000 NMMLS
• 2025-04-25 Price Changed $132,900 NMMLS
• 2025-03-24 Listed $135,000 NMMLS
• 2010-03-26 Sold (Public Records) — Public Records
• 2009-05-28 Sold (Public Records) — Public Records

Property tax history

+9.9%/yr

Latest (2025): $51 · -1.4% YoY. Source: county tax records.