1309 N Reid St Unit 1311 N Reid St · Clovis, NM 88101

$205,000

None bd · None ba · — sqft · Condo · 93 Days on market

Built 1962 Good condition ↓ 7% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Cash flow +3.9/30.0
• Rent growth +3.9/5.0
• Schools +3.4/10.0
• Livability +2.8/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey opportunity in Clovis! This beautifully remodeled 2 Unit Home at 1309 Reid offers two updated units with stylish finishes and modern upgrades throughout. Whether you’re looking to expand your rental portfolio, house hack or call home, this property delivers flexibility and strong income potential. Located in a convenient area close to everything Clovis has to offer—this one is ready to go!

Key facts

• Updated units
• Stylish finishes
• Modern upgrades

Tags

• REMODELED 2 UNIT HOME
• UPDATED UNITS
• STYLISH FINISHES
• MODERN UPGRADES
• STRONG INCOME POTENTIAL
• CONVENIENT AREA

What this means for you Summary

Snapshot

• This is a condo listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-586 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (41.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (48.7% below list).
• Recommended offer: $105k (48.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#171 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Clovis Municipal Schools (town): math 31% / reading 49% proficiency, ranked #13 of 29 in NM (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 464 active listings in the ZIP; 13 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; 169 units permitted in Curry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Curry County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,108 (48.7% 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 93 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.51% ✗
• Cap rate: 2.86%
• Cash-on-cash: -12.26%
• DSCR: 0.45
• GRM: 16.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.54% rent growth · sell at horizon

5-year hold

• IRR: -36.3%
• Equity multiple: -0.18×
• Total profit: $-67,794
• Equity at exit: $30,566

10-year hold

• IRR: -36.2%
• Equity multiple: -0.66×
• Total profit: $-95,151
• Equity at exit: $17,725

Cash invested: $57,400 (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 88101

• Rents YoY: 5.5%
• Active inventory: 464
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $1,051 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-586

Break-even live

Break-even rent $1,793

Max offer price $120,153

Occupancy floor —

Sensitivity live

Price	-10% $-445	-5% $-516	+0% $-586	+5% $-657	+10% $-728
Rent	-10% $-669	-5% $-628	+0% $-586	+5% $-545	+10% $-503
Rate	-1.0pp $-483	-0.5pp $-534	base $-586	+0.5pp $-639	+1.0pp $-694

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2100 Mitchell St Unit 8 Clovis, NM	1.0	1.0	689	$700	$1.02	44d	1	0.66mi
2100 Mitchell St Unit 14 Clovis, NM	2.0	1.0	743	$750	$1.01	44d	1	0.66mi
1500 Echols Ave Clovis, NM	2.0	1.0–2.0	912	$948	$1.04	44d	5	0.74mi
1808 Debra St Clovis, NM	3.0	2.5	1412	$1,400	$0.99	44d	1	0.74mi
109 State Ave Clovis, NM	2.0	1.0	816	$2,000	$2.45	44d	1	0.93mi
401 E 5th St Unit 5 Clovis, NM	2.0	1.0	800	$850	$1.06	44d	1	0.98mi
1805 Martin Luther King Junior Blvd Unit B Clovis, NM	3.0	2.0	—	$1,275	—	44d	1	1.03mi
2001 Sheldon St Unit 1 Clovis, NM	1.0	1.0	—	$550	—	44d	1	1.05mi
1621 N Lea St Clovis, NM	3.0	2.0	1650	$1,500	$0.91	45d	1	1.18mi
2517 Ross St Clovis, NM	2.0	1.0	991	$950	$0.96	44d	1	1.32mi
532 Circle Dr Clovis, NM	3.0	1.5	1114	$1,100	$0.99	44d	1	1.43mi
3205 N Main St Unit 301 Clovis, NM	3.0	2.0	1017	$1,350	$1.33	44d	1	1.44mi
117 Townsgate Plz Unit I Clovis, NM	1.0	1.0	853	$1,000	$1.17	44d	1	1.45mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $205,000 Active 93 DOM
2. 2026-06-18
   days on market $205,000 Active 92 DOM
3. 2026-06-17
   days on market $205,000 Active 91 DOM
4. 2026-06-16
   days on market $205,000 Active 90 DOM
5. 2026-06-15
   days on market $205,000 Active 89 DOM
6. 2026-06-14
   days on market $205,000 Active 87 DOM
7. 2026-06-12
   days on market $205,000 Active 86 DOM
8. 2026-06-09
   days on market $205,000 Active 83 DOM
9. 2026-06-08
   days on market $205,000 Active 82 DOM
10. 2026-06-07
    days on market $205,000 Active 81 DOM
11. 2026-06-03
    days on market $205,000 Active 77 DOM
12. 2026-06-02
    days on market $205,000 Active 76 DOM
13. 2026-06-01
    days on market $205,000 Active 75 DOM
14. 2026-05-31
    days on market $205,000 Active 74 DOM
15. 2026-05-30
    days on market $205,000 Active 73 DOM
16. 2026-04-02
    price $205,000 412-char remark

    Show marketing remark (412 chars)

    Turnkey opportunity in Clovis! This beautifully remodeled 2 Unit Home at 1309 Reid offers two updated units with stylish finishes and modern upgrades throughout. Whether you’re looking to expand your rental portfolio, house hack or call home, this property delivers flexibility and strong income potential. Located in a convenient area close to everything Clovis has to offer—this one is ready to go!

17. 2026-03-18
    listed $220,000 Active 412-char remark

    Show marketing remark (412 chars)

    Turnkey opportunity in Clovis! This beautifully remodeled 2 Unit Home at 1309 Reid offers two updated units with stylish finishes and modern upgrades throughout. Whether you’re looking to expand your rental portfolio, house hack or call home, this property delivers flexibility and strong income potential. Located in a convenient area close to everything Clovis has to offer—this one is ready to go!

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°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: $12,613
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$5,964
• Taxable loss: −$10,952
• Est. tax savings @ 24.0%: +$2,628
• After-tax cash flow: $-4,408/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

Good 80/100 Cosmetic rehab

This beautifully remodeled 2-unit home in Clovis offers updated units with stylish finishes and modern upgrades, making it a turnkey opportunity for investors.

Value-add opportunities

• Both Painting exterior walls — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Both New flooring in bathrooms — Improves aesthetics and functionality.
• Both New kitchen backsplash — Enhances aesthetics and functionality.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior walls — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both New flooring in bathrooms — Improves aesthetics and functionality. ↑
• Both New kitchen backsplash — Enhances aesthetics and functionality. ↑

ⓘ 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)

• District: Clovis Municipal Schools
• NCES district ID: 3500570
• Math proficiency: 31% ▲ 6.00%
• Reading proficiency: 49% ▲ 14.00%
• Median HH income: $40,532
• Composite: 33.52/100
• National rank: #5435
• State rank: #13 of 29 in NM

Livability — Clovis

• Score: 56/100
• State rank: #171
• US rank: #22374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clovis, NM
• County: Curry County · 44,846 people
• City population: 44,846
• Metro: Clovis, NM
• Population (ZIP): 44,846
• Household income: $56,587
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1724.0

Population outlook (Curry County) Hauer SSP2

• Today (2025): 48,742 people
• By 2030: 47,759 · -2.0%
• By 2040: 45,444 · -6.8%
• By 2050: 42,403 · -13.0%
• By 2075: 33,878 · -30.5%
• By 2100: 22,414 · -54.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 47% White 42% Two or more races 14% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 25%

Political lean MEDSL · Curry

• 2024 margin: Solid R (+42.6) · D 27.8% · R 70.4% · Other 1.8%
• 2008→2024 swing: -8.5pp toward R · 2008: -34.1pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+40.6 2016: R+42.4 2012: R+38.6 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.79%
• Current HPI: 121.1877
• Rent YoY: ▲ 5.54%
• Metro: Clovis, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-6.8% since first listed

2 events — show timeline

• 2026-04-02 Price Changed $205,000 NMMLS
• 2026-03-18 Listed $220,000 NMMLS