1219 E Michigan DrHobbsNM88240
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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 1219 E Michigan Dr, Hobbs, NM, 88240 generates $1,445/mo in rent and, after a $905/mo payment, leaves $360/mo in cash flow. Total monthly income is $1,445/mo, and annual cash flow is $4,316/yr on $61,328 invested. Return on cash invested sits at 26.95% in year one, and rental yield is 9.37% on a $185,000 entry. Equity gained on principal adds $1,194/yr, while 5% annual appreciation builds toward $51,112 over five years. Five-year ROI reaches 140.18% and total cumulative return in cash sums $85,971. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,445/mo property income rather than buyer’s personal income.
Single Family
Built in 1960
7,318 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 88240, Hobbs, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,431 (100%) |
| Owner Occupied HU | 9,019 (54.9%) |
| Renter Occupied HU | 5,646 (34.4%) |
| Vacant Housing Units | 1,766 (10.7%) |
| Median Home Value | $198,787 |
| Average Home Value | $233,433 |
Housing Distribution
Address Breakdown
Residential
15,706
Single Family
14,019
Multi-Family
1,687
Businesses
1,543
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Listed by: Josephina Marquez • Core Realty Group
Mls Name: New Mexico MLS
Mls Provider:
Mls ID: #20253078
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.