724 W 14th St · Portales, NM 88135

$124,900

3 bd · 2.0 ba · 1,725 sqft · Other · 14 Days on market

Built 1982 7,500 sqft lot ↓ 7% since listing

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large 1700+sq ft home on corner lot, updated bathrooms, newer flooring, and lots of light!

Key facts

• 7,500 sq ft lot
• Garage
• Built 1982

Property features AI

Finance

• Other: Lot size about 7,500 sq ft
• Financial info: Details not provided
• HOA & community: Details not provided

Exterior

• Parking: Detached garage (1 covered garage space, 1 total parking space)
• Security: Details not provided
• Utilities: Public water; Natural gas available and connected; Electricity connected; Sewer connected
• Home design: Single-family residence; One level / single story
• Construction: Stucco and wood siding construction; Built details not provided
• Exterior features: Fenced yard; Shingle roof

Interior

• Kitchen: Dishwasher; Microwave; Free-standing range; Refrigerator
• Bedrooms: Details not provided
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fan(s)
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 64/100 on livability (#63 in NM) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Portales Municipal Schools (town): math 17% / reading 57% proficiency, ranked #15 of 29 in NM (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Portales Jr High (math 11% / reading 56%, grade F, #9 of 27 statewide, top 31%, 408 students, 60% FRL); Portales High (math 22% / reading 37%, grade F, #78 of 110 statewide, top 74%, 807 students, 59% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 8 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 31 units permitted in Roosevelt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Roosevelt County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 $124,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.05% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 7.9

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: 10.5%
• Equity multiple: 1.60×
• Total profit: $21,039
• Equity at exit: $56,160

10-year hold

• IRR: 12.8%
• Equity multiple: 2.91×
• Total profit: $66,713
• Equity at exit: $86,550

Cash invested: $34,972 (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 88135

• Active inventory: 8
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$86 /mo · $1,037/yr
• Insurance: −$52
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $93

Break-even live

Break-even rent $1,197

Max offer price $124,900

Occupancy floor 88%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 South Avenue B Unit B Portales, NM	3.0	2.0	1706	$1,800	$1.06	43d	1	0.57mi
312 North Avenue B Portales, NM	3.0	3.0	1500	$1,250	$0.83	43d	1	0.63mi
1802 South Avenue A Unit A Portales, NM	3.0	2.0	1570	$1,150	$0.73	43d	1	0.69mi
506 E 1st St Portales, NM	3.0	1.0	1100	$675	$0.61	44d	1	0.76mi

Listing history 11 events

1. 2026-06-19
   days on market $124,900 Active 14 DOM
2. 2026-06-18
   days on market $124,900 Active 13 DOM
3. 2026-06-17
   days on market $124,900 Active 12 DOM
4. 2026-06-16
   days on market $124,900 Active 11 DOM
5. 2026-06-15
   days on market $124,900 Active 10 DOM
6. 2026-06-14
   days on market $124,900 Active 8 DOM
7. 2026-06-12
   days on market $124,900 Active 7 DOM
8. 2026-06-09
   days on market $124,900 Active 4 DOM
9. 2026-06-08
   days on market $124,900 Active 3 DOM
10. 2026-06-07
    remarks 184-char remark
11. 2026-06-07
    listed $124,900 Active 2 DOM

ⓘ 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: $1,037 · $86/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AH · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°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: $15,774
• − Mortgage interest: −$6,996
• − Property taxes: −$1,037
• − Insurance: −$2,449
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$3,633
• Taxable loss: −$865
• Est. tax savings @ 24.0%: +$208
• After-tax cash flow: $1,324/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: Portales Municipal Schools
• NCES district ID: 3502100
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 57% ▲ 20.00%
• Median HH income: $36,151
• Composite: 30.52/100
• National rank: #6209
• State rank: #15 of 29 in NM

Livability — Portales

• Score: 64/100
• State rank: #63
• US rank: #13640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portales, NM
• City population: 17,842
• Population (ZIP): 1,393

Population outlook (Roosevelt County) Hauer SSP2

• Today (2025): 16,821 people
• By 2030: 15,818 · -6.0%
• By 2040: 13,766 · -18.2%
• By 2050: 12,152 · -27.8%
• By 2075: 9,601 · -42.9%
• By 2100: 8,241 · -51.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Hispanic / Latino 34% Two or more races 14% Black 4%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 6% Romanian 3% Serbian 2%
• Foreign-born: 18% · Canada
• Languages at home: 70% English-only · Spanish 30%

Political lean MEDSL · Roosevelt

• 2024 margin: Solid R (+43.2) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -13.3pp toward R · 2008: -29.9pp · 2024: -43.2pp
• All cycles: 2024: R+43.2 2020: R+42.9 2016: R+41.3 2012: R+38.9 2008: R+29.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.5% since first listed

16 events — show timeline

• 2026-06-06 Price Changed $124,900 NMMLS
• 2026-06-04 Listed $134,500 NMMLS
• 2025-08-29 Sold (Public Records) — Public Records
• 2025-08-29 Sold (MLS) — NMMLS
• 2025-07-25 Pending — NMMLS
• 2025-07-03 Price Changed $82,620 NMMLS
• 2025-06-19 Price Changed $91,800 NMMLS
• 2025-05-03 Price Changed $114,750 NMMLS
• 2025-05-02 Relisted — NMMLS
• 2025-04-24 Delisted — NMMLS
• 2025-02-19 Pending — NMMLS
• 2025-01-15 Listed $135,000 NMMLS
• 2024-12-10 Sold (Public Records) — Public Records
• 2024-08-14 Sold (Public Records) — Public Records
• 2017-11-30 Sold (Public Records) — Public Records
• 2012-11-01 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,037 · +30.1% YoY. Source: county tax records.