1508 Frog Leap CtHobbsNM88242
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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
Investment property for sale in Hobbs at 1508 Frog Leap Ct, Hobbs, NM, 88242 offers a 10.43% rental yield on a $290,000 purchase with $2,520/mo rent. Total monthly income registers $2,520/mo, and a $1,419/mo payment leaves $818/mo available for distribution. Annual cash flow reaches $9,819/yr on $96,135 to close, and return on cash invested stands at 30.12% in year one. Equity gained on principal adds $1,871/yr while 5% annual appreciation supports $80,122 over five years. Portfolio math shows five-year ROI at 157.22% and total cumulative return in cash at $151,144. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,520/mo property income against a $1,419/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2019
6,098 sqft 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: Lisa Melendez • Motion Realty, LLC
Mls Name: New Mexico MLS
Mls ID: #20257287