1702 S 21st St · Artesia, NM 88210

$299,500

3 bd · 2.0 ba · 1,562 sqft · SingleFamily · 2 Days on market

Built 2000 8,151 sqft lot

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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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this inviting 3-bedroom, 2-bathroom home offering 1,562 sq ft of comfortable living space. Located in a great, family-friendly neighborhood, this home features a cozy fireplace perfect for gathering on cool evenings. The large backyard provides plenty of room for kids to play, pets to roam, and family get-togethers. A wonderful place to create lasting memories. Warning: you might fall in love… call your favorite Realtor!

Key facts

• Spacious closets
• 8,151 sq ft lot
• 2 garage spots

Tags

• FULLY FENCED BACKYARD
• LOW MAINTENANCE LANDSCAPING
• SPACIOUS CLOSETS

Property features AI

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces (2 total parking spaces)
• Utilities: Public water; Sewer connected; Electricity connected; Natural gas connected; Natural gas available; Cable available and connected
• Home design: Single-family residence; One story
• Construction: Frame construction; Shingle roof; Slab foundation; Built as a residential single-family home
• Exterior features: Patio; Wood fencing; Sidewalks

Interior

• Kitchen: Dishwasher; Free-standing range; Range hood; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Ceiling fan(s); Electric cooling; Forced air heating; Electric heating
• Interior features: Ceiling fans; Aluminum-framed windows with blinds; Gas-started fireplace in the living room
• Laundry & utility: Clothes dryer; Electric water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).

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-, schools 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.
• Market conditions: 166 active listings in the ZIP; 3 comparable units currently listed for rent nearby; solid renter incomes; 156 units permitted in Eddy County in 2024 (0 in 5+ unit buildings).
• At $3,249/mo this rent would consume 49% of the median local household income ($80k/yr) (locally 159% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.62%
• DSCR: 1.47
• GRM: 7.7

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-1,377
• Equity at exit: $44,656

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $59,239
• Equity at exit: $25,895

Cash invested: $83,860 (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: 7.7×

Monthly cashflow live

• Estimated rent: $3,249 medium
• Mortgage (P&I): −$1,571
• Tax from tax record: −$130 /mo · $1,556/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $742

Break-even live

Break-even rent $2,310

Max offer price $299,500

Occupancy floor 72%

Sensitivity live

Price	-10% $912	-5% $827	+0% $742	+5% $657	+10% $572
Rent	-10% $485	-5% $614	+0% $742	+5% $870	+10% $999
Rate	-1.0pp $893	-0.5pp $818	base $742	+0.5pp $664	+1.0pp $585

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: $74,875
• Closing costs: $8,985
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2106 W Bullock Ave Artesia, NM	3.0	2.0	1320	$1,800	$1.36	45d	1	0.49mi
1402 W Briscoe Ave Artesia, NM	3.0	2.0	1564	$1,750	$1.12	45d	1	0.78mi
3513 W Smith Ave heuristic Artesia, NM	3.0	2.0	1320	$2,500	$1.89	25d	1	1.47mi

Listing history 10 events

1. 2026-05-30
   statusdays on market $299,500 Pending 2 DOM
2. 2026-05-28
   listed $299,500 Active
3. 2026-01-21
   soldstatus
4. 2026-01-20
   soldstatus Closed 447-char remark

   Show marketing remark (447 chars)

   Welcome home to this inviting 3-bedroom, 2-bathroom home offering 1,562 sq ft of comfortable living space. Located in a great, family-friendly neighborhood, this home features a cozy fireplace perfect for gathering on cool evenings. The large backyard provides plenty of room for kids to play, pets to roam, and family get-togethers. A wonderful place to create lasting memories. Warning: you might fall in love… call your favorite Realtor!

5. 2025-12-23
   status Pending 447-char remark

   Show marketing remark (447 chars)

   Welcome home to this inviting 3-bedroom, 2-bathroom home offering 1,562 sq ft of comfortable living space. Located in a great, family-friendly neighborhood, this home features a cozy fireplace perfect for gathering on cool evenings. The large backyard provides plenty of room for kids to play, pets to roam, and family get-togethers. A wonderful place to create lasting memories. Warning: you might fall in love… call your favorite Realtor!

6. 2025-12-19
   listed $292,900 Active 447-char remark

   Show marketing remark (447 chars)

   Welcome home to this inviting 3-bedroom, 2-bathroom home offering 1,562 sq ft of comfortable living space. Located in a great, family-friendly neighborhood, this home features a cozy fireplace perfect for gathering on cool evenings. The large backyard provides plenty of room for kids to play, pets to roam, and family get-togethers. A wonderful place to create lasting memories. Warning: you might fall in love… call your favorite Realtor!

7. 2022-06-03
   soldstatus
8. 2022-06-01
   soldstatus 427-char remark

   Show marketing remark (427 chars)

   You don't always find wonderfully sized bedrooms in 1562 sq. ft. houses but this one makes the exception. Split floor plan with great sized bedrooms, master with 4 closets for storage. This home has an open floor plan, cozy kitchen, separate dining area, and a gas fireplace. Oversized 2-car garage on a large lot with a large backyard. This family home won't last long. Call today for your personal showing of this great home.

9. 2022-03-23
   listed $242,000 427-char remark

   Show marketing remark (427 chars)

   You don't always find wonderfully sized bedrooms in 1562 sq. ft. houses but this one makes the exception. Split floor plan with great sized bedrooms, master with 4 closets for storage. This home has an open floor plan, cozy kitchen, separate dining area, and a gas fireplace. Oversized 2-car garage on a large lot with a large backyard. This family home won't last long. Call today for your personal showing of this great home.

10. 2008-07-01
    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: $1,556 · $130/mo
• Projected year-2 tax: $2,396 · $200/mo
• Expected delta: +$840/yr (+$70/mo · 54.0%)

ⓘ 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 6/10 Major 7 d/yr ≥101°F today · 19 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: $38,993
• − Mortgage interest: −$16,777
• − Property taxes: −$1,556
• − Insurance: −$1,498
• − Repairs & maintenance: −$3,119
• − Management: −$3,119
• − Depreciation: −$8,713
• Taxable income: $4,211
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $7,893/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
• 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

+23.8% since first listed

9 events — show timeline

• 2026-05-28 Listed $299,500 NMMLS
• 2026-01-21 Sold (Public Records) — Public Records
• 2026-01-20 Sold (MLS) — NMMLS
• 2025-12-23 Pending — NMMLS
• 2025-12-19 Listed $292,900 NMMLS
• 2022-06-03 Sold (Public Records) — Public Records
• 2022-06-01 Sold (MLS) — NMMLS
• 2022-03-23 Listed $242,000 NMMLS
• 2008-07-01 Sold (Public Records) — Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,556 · -8.0% YoY. Source: county tax records.