1006 North Ave · Carlsbad, NM 88220

$220,000

3 bd · 2.0 ba · 1,037 sqft · SingleFamily · 35 Days on market

Built 2010 10,454 sqft lot

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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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cute newer 3 bedroom 2 bath house is perfect for someone downsizing or a first time homeowner. Open floor plan with attached 1 car garage. Large backyard that is a blank canvas ready for you to make it your own private sanctuary!

Key facts

• 0.24 acre lot
• Garage
• Built 2010

Property features AI

Finance

• Other: Located in the Bryant To Hall Amend subdivision; Directions: From N Canal St in Carlsbad, head west on W Pierce St, then turn right onto North Ave. Continue north for approximately 0.5 miles. The property will be on the left at 1006 North Ave, Carlsbad, NM 88220.
• Financial info: Annual tax: $1,465.54

Exterior

• Parking: Attached garage (1 covered/attached parking space, total 1 parking space)
• Home design: Single-family residence; Residential property
• Exterior features: Irregular lot; Lot approximately 0.24 acres

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No central heating listed
• Interior features: Irregular lot (see exterior for lot size and shape)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-24 ($-285/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (22.7% below list).
• Recommended offer: $170k (22.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#20 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: commute C-, health & safety C-, schools D.
• Market conditions: 363 active listings in the ZIP; solid renter incomes; 156 units permitted in Eddy County in 2024 (0 in 5+ unit buildings).

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 35 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 2 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: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,094 (22.7% 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 35 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.77% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.8

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-37,231
• Equity at exit: $32,803

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-34,646
• Equity at exit: $19,022

Cash invested: $61,600 (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 88220

• Active inventory: 363
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,701 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$122 /mo · $1,466/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-24

Break-even live

Break-even rent $1,731

Max offer price $215,803

Occupancy floor 96%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $220,000 Active 35 DOM
2. 2026-06-17
   days on market $220,000 Active 34 DOM
3. 2026-06-16
   days on market $220,000 Active 33 DOM
4. 2026-06-15
   price $220,000 Active 32 DOM
5. 2026-06-15
   days on market $225,000 Active 32 DOM
6. 2026-06-14
   days on market $225,000 Active 30 DOM
7. 2026-06-13
   days on market $225,000 Active 29 DOM
8. 2026-06-10
   days on market $225,000 Active 27 DOM
9. 2026-06-09
   days on market $225,000 Active 26 DOM
10. 2026-06-08
    days on market $225,000 Active 25 DOM
11. 2026-06-07
    days on market $225,000 Active 24 DOM
12. 2026-06-05
    days on market $225,000 Active 21 DOM
13. 2026-06-03
    days on market $225,000 Active 20 DOM
14. 2026-06-02
    days on market $225,000 Active 19 DOM
15. 2026-06-01
    days on market $225,000 Active 18 DOM
16. 2026-05-31
    days on market $225,000 Active 17 DOM
17. 2026-05-30
    days on market $225,000 Active 16 DOM
18. 2026-05-14
    listed $228,000 Active 370-char remark
19. 2022-05-19
    soldstatus 234-char remark

    Show marketing remark (234 chars)

    This cute newer 3 bedroom 2 bath house is perfect for someone downsizing or a first time homeowner. Open floor plan with attached 1 car garage. Large backyard that is a blank canvas ready for you to make it your own private sanctuary!

20. 2022-05-19
    soldstatus

    Show marketing remark (234 chars)

    This cute newer 3 bedroom 2 bath house is perfect for someone downsizing or a first time homeowner. Open floor plan with attached 1 car garage. Large backyard that is a blank canvas ready for you to make it your own private sanctuary!

21. 2022-02-07
    listed $190,000 234-char remark

    Show marketing remark (234 chars)

    This cute newer 3 bedroom 2 bath house is perfect for someone downsizing or a first time homeowner. Open floor plan with attached 1 car garage. Large backyard that is a blank canvas ready for you to make it your own private sanctuary!

22. 2016-12-01
    soldstatus
23. 2010-11-03
    soldstatus
24. 2010-07-29
    soldstatus
25. 2010-07-22
    soldstatus
26. 2010-01-05
    soldstatus
27. 2009-10-08
    soldstatus
28. 2009-09-14
    soldstatus
29. 2009-09-09
    soldstatus
30. 2009-03-19
    soldstatus
31. 2008-10-17
    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: $1,466 · $122/mo
• Projected year-2 tax: $1,760 · $147/mo
• Expected delta: +$294/yr (+$25/mo · 20.1%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 20 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: $20,411
• − Mortgage interest: −$12,323
• − Property taxes: −$1,466
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − Depreciation: −$6,400
• Taxable loss: −$4,143
• Est. tax savings @ 24.0%: +$994
• After-tax cash flow: $709/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 — Carlsbad

• Score: 70/100
• State rank: #20
• US rank: #7925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carlsbad, NM
• County: Eddy County · 58,370 people
• City population: 39,828
• Metro: Carlsbad-Artesia, NM
• Population (ZIP): 39,828
• Household income: $78,162
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 661.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 48% White 46% Two or more races 22% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 76% 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: ▼ -283.72%
• Current HPI: 114.115
• Rent YoY: —
• Metro: Carlsbad-Artesia, NM
• State GDP YoY: —
• F500 in state: 0

Price history

+15.8% since first listed

16 events — show timeline

• 2026-06-15 Price Changed $220,000 NMMLS
• 2026-05-28 Price Changed $225,000 NMMLS
• 2026-05-14 Listed $228,000 NMMLS
• 2022-05-19 Sold (Public Records) — Public Records
• 2022-05-19 Sold (MLS) — NMMLS
• 2022-02-07 Listed $190,000 NMMLS
• 2016-12-01 Sold (Public Records) — Public Records
• 2010-11-03 Sold (Public Records) — Public Records
• 2010-07-29 Sold (Public Records) — Public Records
• 2010-07-22 Sold (Public Records) — Public Records
• 2010-01-05 Sold (Public Records) — Public Records
• 2009-10-08 Sold (Public Records) — Public Records
• 2009-09-14 Sold (Public Records) — Public Records
• 2009-09-09 Sold (Public Records) — Public Records
• 2009-03-19 Sold (Public Records) — Public Records
• 2008-10-17 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,466 · +1.9% YoY. Source: county tax records.