109 W Lovelady RdHobbsNM88242
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Hobbs at 109 W Lovelady Rd, Hobbs, NM, 88242 priced at $650,000 pairs $2,591/mo rent with after a $3,181/mo payment. Total monthly income equals $2,591/mo. Return on cash invested is 13.02% in year one, and rental yield stands at 4.78% on a $650,000 basis. Equity gained on principal adds $4,194/yr, and 5% annual appreciation accumulates to $179,583 by year five. Five-year ROI measures 65.52% and total cumulative return in cash reaches $140,114. For financing, Ziffy Mortgage’s DSCR program evaluates $2,591/mo property income against a $3,181/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1996
1.19 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 88242, Hobbs, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,107 (100%) |
| Owner Occupied HU | 2,395 (77.1%) |
| Renter Occupied HU | 481 (15.5%) |
| Vacant Housing Units | 231 ( 7.4%) |
| Median Home Value | $305,246 |
| Average Home Value | $342,977 |
Housing Distribution
Address Breakdown
Residential
3,112
Single Family
3,039
Multi-Family
73
Businesses
44
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Listed by: Robbie Robinson • Robinson & Associates Real Estate
Mls Name: New Mexico MLS
Mls Provider:
Mls ID: #20252398
Disclaimer: The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange (IDX) program of the New Mexico Multi-Board MLS. Real Estate listings held by brokers other than Zillow, Inc. are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed.