1020-1020 1/2 W 8th St · Clovis, NM 88101

$79,900

None bd · None ba · 1,504 sqft · MultiFamily · 291 Days on market

Built 1927 Fair condition 4,500 sqft lot ↓ 10% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment Opportunity! This property offers two rental units on one lot, making it an excellent income-producing investment. The main house is a 3-bedroom, 1-bath home currently leased for $700 per month. Behind it sits a 1-bedroom, 1-bath guest house that rents for $630 per month. Both homes are situated on a corner lot, providing tenants with their own space and privacy. With reliable rental income already in place, this property is perfect for investors looking to expand their portfolio or get started in real estate investing.

Key facts

• Two rental units
• Corner lot
• 4,500 sq ft lot

Tags

• TWO RENTAL UNITS
• CORNER LOT
• RELIABLE RENTAL INCOME

What this means for you Summary

Snapshot

• This is a multifamily listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (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; 2 comparable units currently listed for rent nearby; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.46% ✓
• Cap rate: 21.31%
• Cash-on-cash: 53.65%
• DSCR: 3.39
• GRM: 3.4

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: 54.6%
• Equity multiple: 3.50×
• Total profit: $55,933
• Equity at exit: $11,913

10-year hold

• IRR: 60.7%
• Equity multiple: 7.84×
• Total profit: $153,112
• Equity at exit: $6,908

Cash invested: $22,372 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,965 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $1,000

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 44%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,077
1× unit	1	1	$887
Total (2 units)			$1,965

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	44d	1	0.89mi
1808 Debra St Clovis, NM	3.0	2.5	1412	$1,400	$0.99	43d	1	1.32mi

Listing history 18 events

1. 2026-06-19
   days on market $79,900 Active 291 DOM
2. 2026-06-18
   days on market $79,900 Active 290 DOM
3. 2026-06-17
   days on market $79,900 Active 289 DOM
4. 2026-06-16
   days on market $79,900 Active 288 DOM
5. 2026-06-15
   days on market $79,900 Active 287 DOM
6. 2026-06-14
   days on market $79,900 Active 285 DOM
7. 2026-06-12
   days on market $79,900 Active 284 DOM
8. 2026-06-09
   days on market $79,900 Active 281 DOM
9. 2026-06-08
   days on market $79,900 Active 280 DOM
10. 2026-06-07
    days on market $79,900 Active 279 DOM
11. 2026-06-03
    days on market $79,900 Active 275 DOM
12. 2026-06-02
    days on market $79,900 Active 274 DOM
13. 2026-06-01
    days on market $79,900 Active 273 DOM
14. 2026-05-31
    days on market $79,900 Active 272 DOM
15. 2026-05-30
    days on market $79,900 Active 271 DOM
16. 2026-04-06
    price $89,900 536-char remark

    Show marketing remark (536 chars)

    Investment Opportunity! This property offers two rental units on one lot, making it an excellent income-producing investment. The main house is a 3-bedroom, 1-bath home currently leased for $700 per month. Behind it sits a 1-bedroom, 1-bath guest house that rents for $630 per month. Both homes are situated on a corner lot, providing tenants with their own space and privacy. With reliable rental income already in place, this property is perfect for investors looking to expand their portfolio or get started in real estate investing.

17. 2026-02-20
    price $90,000 536-char remark

    Show marketing remark (536 chars)

    Investment Opportunity! This property offers two rental units on one lot, making it an excellent income-producing investment. The main house is a 3-bedroom, 1-bath home currently leased for $700 per month. Behind it sits a 1-bedroom, 1-bath guest house that rents for $630 per month. Both homes are situated on a corner lot, providing tenants with their own space and privacy. With reliable rental income already in place, this property is perfect for investors looking to expand their portfolio or get started in real estate investing.

18. 2025-09-01
    listed $99,900 Active 536-char remark

    Show marketing remark (536 chars)

    Investment Opportunity! This property offers two rental units on one lot, making it an excellent income-producing investment. The main house is a 3-bedroom, 1-bath home currently leased for $700 per month. Behind it sits a 1-bedroom, 1-bath guest house that rents for $630 per month. Both homes are situated on a corner lot, providing tenants with their own space and privacy. With reliable rental income already in place, this property is perfect for investors looking to expand their portfolio or get started in real estate investing.

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

Taxation est. · year 1

• Rental income: $23,580
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − Depreciation: −$2,324
• Taxable income: $11,409
• Est. tax owed @ 24.0%: −$2,738
• After-tax cash flow: $9,264/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.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This property offers two rental units and is in fair condition with some repairs and maintenance needed. Upgrading the interior and exterior can significantly increase its resale and rental value.

Repairs flagged

• Minor Kitchen appliances — Older appliances may need replacement or cleaning.
• Minor Bathroom fixtures — Dated fixtures may need updating or replacement.
• Moderate Exterior paint — Exterior siding shows wear and may need repainting.
• Minor Landscaping — Minimal landscaping may need improvement to enhance curb appeal.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make the interior look more modern and appealing to potential buyers.
• Resale Replace kitchen appliances — Modern appliances can significantly enhance the appeal of the home to potential buyers.
• Resale Update bathroom fixtures — Upgraded fixtures can make the bathrooms more attractive and functional.
• Resale Paint exterior siding — Fresh paint can improve the home's curb appeal and make it more attractive to potential buyers.
• Both Improve landscaping — Enhanced landscaping can improve the home's curb appeal and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Older appliances may need replacement or cleaning.	Minor	$500–3,000
Bathroom fixtures · Dated fixtures may need updating or replacement.	Minor	$500–3,000
Exterior paint · Exterior siding shows wear and may need repainting.	Moderate	$3,000–15,000
Landscaping · Minimal landscaping may need improvement to enhance curb appeal.	Minor	$500–3,000
Total estimated repair cost · 4 items		$4,500–24,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make the interior look more modern and appealing to potential buyers. ↑
• Resale Replace kitchen appliances — Modern appliances can significantly enhance the appeal of the home to potential buyers. ↑
• Resale Update bathroom fixtures — Upgraded fixtures can make the bathrooms more attractive and functional. ↑
• Resale Paint exterior siding — Fresh paint can improve the home's curb appeal and make it more attractive to potential buyers. ↑
• Both Improve landscaping — Enhanced landscaping can improve the home's curb appeal and increase its rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-10.0% since first listed

3 events — show timeline

• 2026-04-06 Price Changed $89,900 NMMLS
• 2026-02-20 Price Changed $90,000 NMMLS
• 2025-09-01 Listed $99,900 NMMLS