1812 Briscoe Ave · Artesia, NM 88210

$329,500

3 bd · 3.0 ba · 2,290 sqft · SingleFamily · 231 Days on market

0.25 ac lot ↓ 8% 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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +3.3/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom, 3-Bathroom Home with Spacious Living Areas and Bonus Sunroom. This beautifully maintained 2,290 sq. ft. home offers an abundance of space, comfort, and versatility. Boasting 3 bedrooms and 3 bathrooms, it’s ideal for families or those looking for room to grow. Step inside to discover two generous living areas, one of which features a cozy fireplace perfect for those chilly evenings. The formal dining area creates an elegant space for entertaining, while the breakfast area in the kitchen offers a more casual option for daily meals. The kitchen is well-equipped and provides plenty of counter space for cooking and entertaining. A separate laundry room adds convenience

Key facts

• Bonus sunroom
• Formal dining area
• Landscaped yard

Tags

• BONUS SUNROOM
• COZY FIREPLACE
• FORMAL DINING AREA
• BREAKFAST AREA
• SEPARATE LAUNDRY ROOM
• LANDSCAPED YARD

Property features AI

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 covered parking spaces (2 total parking spaces)
• Utilities: Public water; Sewer connected; Electricity connected; Natural gas available and connected
• Home design: Single-family residence; One level / 1 story
• Construction: Brick and stucco construction; Shingle roof; Slab foundation; Built as a residential single family home
• Exterior features: Covered patio and deck; Fenced yard (block); Sprinklers in front and rear

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Oven; Refrigerator; Gas water heater
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Ceiling fans; Walk-in closets; Drapes; Fireplace (masonry) in family room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/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 $271k (17.8% below list).
• Recommended offer: $271k (17.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#75 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Artesia Public Schools (town): math 29% / reading 42% proficiency, ranked #17 of 95 in NM (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Yeso Elementary (493 students, 40% FRL); Artesia Zia Intermediate (546 students, 50% FRL); Artesia High (math 44% / reading 74%, grade C+, #27 of 110 statewide, top 28%, 766 students, 40% FRL) — zoned schools at 43% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 36% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the Artesia Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 166 active listings in the ZIP; solid renter incomes; 156 units permitted in Eddy County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Eddy County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 4→12/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,884 (17.8% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.82% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 10.1

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-43,164
• Equity at exit: $49,130

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-24,813
• Equity at exit: $28,489

Cash invested: $92,260 (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 88210

• Active inventory: 166
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,709 medium
• Mortgage (P&I): −$1,728
• Tax from tax record: −$112 /mo · $1,343/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $163

Break-even live

Break-even rent $2,503

Max offer price $329,500

Occupancy floor 89%

Sensitivity live

Price	-10% $349	-5% $256	+0% $163	+5% $70	+10% $-24
Rent	-10% $-51	-5% $56	+0% $163	+5% $270	+10% $377
Rate	-1.0pp $329	-0.5pp $247	base $163	+0.5pp $77	+1.0pp $-9

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: $82,375
• Closing costs: $9,885
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-28
   status Pending
2. 2026-02-27
   price $329,500
3. 2025-12-16
   price $349,500
4. 2025-09-08
   listed $359,500 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: $1,343 · $112/mo
• Projected year-2 tax: $2,636 · $220/mo
• Expected delta: +$1,293/yr (+$108/mo · 96.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 4 d/yr ≥101°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,506
• − Mortgage interest: −$18,457
• − Property taxes: −$1,343
• − Insurance: −$1,648
• − Repairs & maintenance: −$2,600
• − Management: −$2,600
• − Depreciation: −$9,585
• Taxable loss: −$3,728
• Est. tax savings @ 24.0%: +$895
• After-tax cash flow: $2,849/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: Artesia Public Schools
• NCES district ID: 3500120
• Math proficiency: 29% —
• Reading proficiency: 42% —
• Median HH income: $51,397
• Composite: 33.48/100
• National rank: #10522
• State rank: #17 of 95 in NM

Livability — Artesia

• Score: 63/100
• State rank: #75
• US rank: #15300

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Artesia, NM
• County: Eddy County · 58,370 people
• City population: 18,542
• Metro: Carlsbad-Artesia, NM
• Population (ZIP): 18,542
• Household income: $79,632
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 159.0

Population outlook (Eddy County) Hauer SSP2

• Today (2025): 65,505 people
• By 2030: 69,797 · +6.6%
• By 2040: 79,191 · +20.9%
• By 2050: 89,199 · +36.2%
• By 2075: 115,829 · +76.8%
• By 2100: 129,336 · +97.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (55%)
• Race & ethnicity: Hispanic / Latino 55% White 40% Two or more races 19% Native American 3%
• Hispanic origin (detail): Mexican 50%
• Common ancestry: Italian 1% Romanian 1% Iranian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 24%

Political lean MEDSL · Eddy

• 2024 margin: Solid R (+55.9) · D 21.4% · R 77.3% · Other 1.3%
• 2008→2024 swing: -30.2pp toward R · 2008: -25.6pp · 2024: -55.9pp
• All cycles: 2024: R+55.9 2020: R+51.8 2016: R+41.6 2012: R+33.5 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -238.85%
• Current HPI: 115.6107
• Rent YoY: —
• Metro: Carlsbad-Artesia, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-8.3% since first listed

4 events — show timeline

• 2026-04-28 Pending — NMMLS
• 2026-02-27 Price Changed $329,500 NMMLS
• 2025-12-16 Price Changed $349,500 NMMLS
• 2025-09-08 Listed $359,500 NMMLS

Property tax history

+55.8%/yr

Latest (2025): $1,343 · -1.4% YoY. Source: county tax records.