2200 W Pierce #1c St · Carlsbad, NM 88220

$124,000

2 bd · 2.0 ba · 1,216 sqft · SingleFamily · 89 Days on market

Built 1970 Fair condition 1,216 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, low-maintenance living in this charming 2 bedroom, 2 bath condo located in a 40+ community with affordable HOA dues of $330 per month. Thoughtfully designed for comfort and convenience, this unit features a cozy fireplace and a covered back porch—perfect for enjoying your morning coffee or unwinding in the evenings. The condo includes its own covered parking space and an exterior storage closet, providing extra space without the upkeep. Residents enjoy access to a community pool and clubhouse, ideal for socializing, staying active, or simply relaxing. Perfect for those looking to downsize without sacrificing comfort, this home offers a simplified lifestyle in a quiet, well-maintained setting. A great opportunity to enjoy carefree living with amenities right at your doorstep.

Key facts

• Clubhouse
• Community pool
• Cozy fireplace

Tags

• COVERED BACK PORCH
• COZY FIREPLACE
• COVERED PARKING SPACE
• EXTERIOR STORAGE CLOSET
• COMMUNITY POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $124k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $857 of loan paydown is wiped out by about $4k 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 89 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 13y 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% 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 1970 — 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 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?
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 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: 1.16% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.69%
• DSCR: 1.43
• GRM: 7.2

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,209
• Equity at exit: $18,489

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $21,167
• Equity at exit: $10,721

Cash invested: $34,720 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,440 medium
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,860/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $280

Break-even live

Break-even rent $1,085

Max offer price $124,000

Occupancy floor 76%

Sensitivity live

Price	-10% $366	-5% $323	+0% $280	+5% $238	+10% $195
Rent	-10% $167	-5% $224	+0% $280	+5% $337	+10% $394
Rate	-1.0pp $343	-0.5pp $312	base $280	+0.5pp $248	+1.0pp $216

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1308 W Church St Unit A Carlsbad, NM	1.0	1.0	750	$975	$1.30	44d	1	0.81mi
601 W Orchard Ln Carlsbad, NM	2.0	1.5	1400	$1,700	$1.21	44d	2	1.13mi
302 N Lake St Carlsbad, NM	2.0	1.0	932	$1,500	$1.61	44d	1	1.44mi

Listing history 50 events

1. 2026-06-18
   days on market $124,000 Active 89 DOM
2. 2026-06-17
   days on market $124,000 Active 88 DOM
3. 2026-06-16
   days on market $124,000 Active 87 DOM
4. 2026-06-15
   days on market $124,000 Active 86 DOM
5. 2026-06-14
   days on market $124,000 Active 84 DOM
6. 2026-06-13
   days on market $124,000 Active 83 DOM
7. 2026-06-10
   days on market $124,000 Active 81 DOM
8. 2026-06-09
   days on market $124,000 Active 80 DOM
9. 2026-06-09
   price $124,000 Active 79 DOM
10. 2026-06-08
    days on market $130,000 Active 79 DOM
11. 2026-06-07
    days on market $130,000 Active 78 DOM
12. 2026-06-05
    days on market $130,000 Active 75 DOM
13. 2026-06-03
    days on market $130,000 Active 74 DOM
14. 2026-06-02
    days on market $130,000 Active 73 DOM
15. 2026-06-01
    days on market $130,000 Active 72 DOM
16. 2026-05-31
    days on market $130,000 Active 71 DOM
17. 2026-05-30
    days on market $130,000 Active 70 DOM
18. 2026-04-30
    status Active 808-char remark

    Show marketing remark (808 chars)

    Welcome to easy, low-maintenance living in this charming 2 bedroom, 2 bath condo located in a 40+ community with affordable HOA dues of $330 per month. Thoughtfully designed for comfort and convenience, this unit features a cozy fireplace and a covered back porch—perfect for enjoying your morning coffee or unwinding in the evenings. The condo includes its own covered parking space and an exterior storage closet, providing extra space without the upkeep. Residents enjoy access to a community pool and clubhouse, ideal for socializing, staying active, or simply relaxing. Perfect for those looking to downsize without sacrificing comfort, this home offers a simplified lifestyle in a quiet, well-maintained setting. A great opportunity to enjoy carefree living with amenities right at your doorstep.

19. 2026-04-30
    price $130,000 808-char remark

    Show marketing remark (808 chars)

    Welcome to easy, low-maintenance living in this charming 2 bedroom, 2 bath condo located in a 40+ community with affordable HOA dues of $330 per month. Thoughtfully designed for comfort and convenience, this unit features a cozy fireplace and a covered back porch—perfect for enjoying your morning coffee or unwinding in the evenings. The condo includes its own covered parking space and an exterior storage closet, providing extra space without the upkeep. Residents enjoy access to a community pool and clubhouse, ideal for socializing, staying active, or simply relaxing. Perfect for those looking to downsize without sacrificing comfort, this home offers a simplified lifestyle in a quiet, well-maintained setting. A great opportunity to enjoy carefree living with amenities right at your doorstep.

20. 2026-03-18
    status Pending 808-char remark

    Show marketing remark (808 chars)

    Welcome to easy, low-maintenance living in this charming 2 bedroom, 2 bath condo located in a 40+ community with affordable HOA dues of $330 per month. Thoughtfully designed for comfort and convenience, this unit features a cozy fireplace and a covered back porch—perfect for enjoying your morning coffee or unwinding in the evenings. The condo includes its own covered parking space and an exterior storage closet, providing extra space without the upkeep. Residents enjoy access to a community pool and clubhouse, ideal for socializing, staying active, or simply relaxing. Perfect for those looking to downsize without sacrificing comfort, this home offers a simplified lifestyle in a quiet, well-maintained setting. A great opportunity to enjoy carefree living with amenities right at your doorstep.

21. 2026-02-06
    listed $125,000 Active 808-char remark

    Show marketing remark (808 chars)

    Welcome to easy, low-maintenance living in this charming 2 bedroom, 2 bath condo located in a 40+ community with affordable HOA dues of $330 per month. Thoughtfully designed for comfort and convenience, this unit features a cozy fireplace and a covered back porch—perfect for enjoying your morning coffee or unwinding in the evenings. The condo includes its own covered parking space and an exterior storage closet, providing extra space without the upkeep. Residents enjoy access to a community pool and clubhouse, ideal for socializing, staying active, or simply relaxing. Perfect for those looking to downsize without sacrificing comfort, this home offers a simplified lifestyle in a quiet, well-maintained setting. A great opportunity to enjoy carefree living with amenities right at your doorstep.

22. 2025-12-16
    soldstatus Closed 458-char remark

    Show marketing remark (458 chars)

    Enjoy living a low-maintenance, community lifestyle with this 40+ condo! Relax under the shade of the covered patio with a stunning view of the swimming pool! This unit has recently been updated with fresh paint, NEW hot water heater, NEW stove, NEW refrigerator, NEW dishwasher, and NEW flooring throughout! Resident has covered parking and his/her own attached storage unit plus access to the pool, meeting room and clubhouse. Call today to view in person!

23. 2025-11-10
    status Pending 458-char remark

    Show marketing remark (458 chars)

    Enjoy living a low-maintenance, community lifestyle with this 40+ condo! Relax under the shade of the covered patio with a stunning view of the swimming pool! This unit has recently been updated with fresh paint, NEW hot water heater, NEW stove, NEW refrigerator, NEW dishwasher, and NEW flooring throughout! Resident has covered parking and his/her own attached storage unit plus access to the pool, meeting room and clubhouse. Call today to view in person!

24. 2025-10-10
    price $125,000 458-char remark

    Show marketing remark (458 chars)

    Enjoy living a low-maintenance, community lifestyle with this 40+ condo! Relax under the shade of the covered patio with a stunning view of the swimming pool! This unit has recently been updated with fresh paint, NEW hot water heater, NEW stove, NEW refrigerator, NEW dishwasher, and NEW flooring throughout! Resident has covered parking and his/her own attached storage unit plus access to the pool, meeting room and clubhouse. Call today to view in person!

25. 2025-09-08
    price $130,000 458-char remark

    Show marketing remark (458 chars)

    Enjoy living a low-maintenance, community lifestyle with this 40+ condo! Relax under the shade of the covered patio with a stunning view of the swimming pool! This unit has recently been updated with fresh paint, NEW hot water heater, NEW stove, NEW refrigerator, NEW dishwasher, and NEW flooring throughout! Resident has covered parking and his/her own attached storage unit plus access to the pool, meeting room and clubhouse. Call today to view in person!

26. 2025-09-02
    price $145,000
27. 2025-08-12
    listed $135,000 Active 458-char remark

    Show marketing remark (458 chars)

    Enjoy living a low-maintenance, community lifestyle with this 40+ condo! Relax under the shade of the covered patio with a stunning view of the swimming pool! This unit has recently been updated with fresh paint, NEW hot water heater, NEW stove, NEW refrigerator, NEW dishwasher, and NEW flooring throughout! Resident has covered parking and his/her own attached storage unit plus access to the pool, meeting room and clubhouse. Call today to view in person!

28. 2025-06-21
    historical $2,150
29. 2025-06-17
    listed $2,150
30. 2025-06-02
    price $140,000
31. 2025-05-05
    historical $2,000
32. 2025-02-20
    listed $2,000
33. 2025-02-18
    soldstatus Closed
34. 2025-01-09
    status Pending
35. 2024-08-27
    status Active
36. 2024-08-25
    status Pending
37. 2024-08-12
    listed $150,000 Active
38. 2023-04-05
    soldstatus Closed
39. 2023-02-20
    status Pending
40. 2023-02-07
    listed $120,000 Active
41. 2022-06-23
    soldstatus
42. 2022-01-04
    soldstatus
43. 2021-12-03
    listed $115,000
44. 2021-11-02
    listed $105,000
45. 2018-06-08
    soldstatus
46. 2018-02-02
    listed $129,500
47. 2017-01-26
    soldstatus
48. 2015-11-30
    soldstatus
49. 2015-11-19
    listed $104,500
50. 2015-07-29
    listed $127,500

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

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 · 19 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: $17,277
• − Mortgage interest: −$6,946
• − Property taxes: −$1,860
• − Insurance: −$620
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$3,607
• Taxable income: $1,479
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $3,011/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 · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance, including roof shingles, exterior siding, and interior paint. Upgrades to these areas would significantly increase its resale and rental value.

Repairs flagged

• Major roof shingles — signs of wear
• Major exterior siding — visible discoloration
• Major interior paint — faded appearance
• Major landscaping — dry grass and gravel driveway

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace roof shingles — new roof improves structural integrity and appearance
• Both repair exterior siding — new siding enhances curb appeal and structural integrity
• Both landscape and water features — improved landscaping and water features enhance curb appeal and attract potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof shingles · signs of wear	Major	$15,000–50,000
exterior siding · visible discoloration	Major	$15,000–50,000
interior paint · faded appearance	Major	$15,000–50,000
landscaping · dry grass and gravel driveway	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace roof shingles — new roof improves structural integrity and appearance ↑
• Both repair exterior siding — new siding enhances curb appeal and structural integrity ↑
• Both landscape and water features — improved landscaping and water features enhance curb appeal and attract potential buyers ↑

ⓘ 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)

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

+15.0% since first listed

39 events — show timeline

• 2026-04-30 Relisted — NMMLS
• 2026-04-30 Price Changed $130,000 NMMLS
• 2026-03-18 Pending — NMMLS
• 2026-02-06 Listed $125,000 NMMLS
• 2025-12-16 Sold (MLS) — NMMLS
• 2025-11-10 Pending — NMMLS
• 2025-10-10 Price Changed $125,000 NMMLS
• 2025-09-08 Price Changed $130,000 NMMLS
• 2025-09-02 Price Changed $145,000 NMMLS
• 2025-08-12 Listed $135,000 NMMLS
• 2025-06-21 Rental Removed $2,150 APPFOLIO
• 2025-06-17 Listed for Rent $2,150 APPFOLIO
• 2025-06-02 Price Changed $140,000 NMMLS
• 2025-05-05 Rental Removed $2,000 APPFOLIO
• 2025-02-20 Listed for Rent $2,000 APPFOLIO
• 2025-02-18 Sold (MLS) — NMMLS
• 2025-01-09 Pending — NMMLS
• 2024-08-27 Relisted — NMMLS
• 2024-08-25 Pending — NMMLS
• 2024-08-12 Listed $150,000 NMMLS
• 2023-04-05 Sold (MLS) — NMMLS
• 2023-02-20 Pending — NMMLS
• 2023-02-07 Listed $120,000 NMMLS
• 2022-06-23 Sold (MLS) — NMMLS
• 2022-01-04 Sold (MLS) — NMMLS
• 2021-12-03 Listed $115,000 NMMLS
• 2021-11-02 Listed $105,000 NMMLS
• 2018-06-08 Sold (MLS) — NMMLS
• 2018-02-02 Listed $129,500 NMMLS
• 2017-01-26 Sold (MLS) — NMMLS
• 2015-11-30 Sold (MLS) — NMMLS
• 2015-11-19 Listed $104,500 NMMLS
• 2015-07-29 Listed $127,500 NMMLS
• 2015-07-03 Sold (MLS) — NMMLS
• 2015-03-19 Listed $120,000 NMMLS
• 2014-07-22 Sold (MLS) — NMMLS
• 2013-09-11 Sold (MLS) — NMMLS
• 2013-03-14 Listed $118,000 NMMLS
• 2013-02-04 Listed $113,000 NMMLS