R296 N 13th Rural St · Artesia, NM 88210

$240,000

3 bd · 2.0 ba · 2,275 sqft · Other · 38 Days on market

Built 1986

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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

Brick and stucco exterior. Tile and laminate flooring throughout. Some updated painting, smallest bedroom completely update with new paint, trim and flooring. Dining room updated with metal paneling to add a touch of rustic charm. Guest bathroom fresh paint and trim. Both bathrooms have skylights. Master bedroom features a pallet wood wall and walk-in closet. Backyard fenced off. Two car garage closed in to add a second den or man cave with tons of storage. Property is corner lot at almost 1.5 acres. On city water. Is being sold as is. Will need some plumbing work, repairs to floor and other minor repairs.

Key facts

• Walk-in closet
• Updated painting
• Pallet wood wall

Tags

• BRICK AND STUCCO EXTERIOR
• TILE AND LAMINATE FLOORING
• UPDATED PAINTING
• SKYLIGHTS
• PALLET WOOD WALL
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $240k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.

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; 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 $7k 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 38 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 7.4

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-7,990
• Equity at exit: $35,785

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $32,945
• Equity at exit: $20,751

Cash invested: $67,200 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,713 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $485

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 77%

Sensitivity live

Price	-10% $650	-5% $567	+0% $485	+5% $402	+10% $319
Rent	-10% $270	-5% $377	+0% $485	+5% $592	+10% $699
Rate	-1.0pp $605	-0.5pp $546	base $485	+0.5pp $422	+1.0pp $359

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $240,000 Active 38 DOM
2. 2026-06-18
   days on market $240,000 Active 37 DOM
3. 2026-06-17
   days on market $240,000 Active 36 DOM
4. 2026-06-16
   days on market $240,000 Active 35 DOM
5. 2026-06-15
   days on market $240,000 Active 34 DOM
6. 2026-06-14
   days on market $240,000 Active 32 DOM
7. 2026-06-13
   days on market $240,000 Active 31 DOM
8. 2026-06-10
   days on market $240,000 Active 29 DOM
9. 2026-06-09
   days on market $240,000 Active 28 DOM
10. 2026-06-08
    days on market $240,000 Active 27 DOM
11. 2026-06-07
    days on market $240,000 Active 26 DOM
12. 2026-06-03
    days on market $240,000 Active 22 DOM
13. 2026-06-02
    days on market $240,000 Active 21 DOM
14. 2026-06-01
    days on market $240,000 Active 20 DOM
15. 2026-05-31
    days on market $240,000 Active 19 DOM
16. 2026-05-30
    days on market $240,000 Active 18 DOM
17. 2026-05-12
    listed $240,000 Active 613-char remark
18. 2019-03-15
    soldstatus

ⓘ 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: $32,553
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − Depreciation: −$6,982
• Taxable income: $2,119
• Est. tax owed @ 24.0%: −$509
• After-tax cash flow: $5,306/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

2 events — show timeline

• 2026-05-12 Listed $240,000 FSBO.com
• 2019-03-15 Sold (Public Records) — Public Records

Property tax history

+20.0%/yr

Latest (2018): $3 · -2.0% YoY. Source: county tax records.