1616 S Turner StHobbsNM88240
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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 1616 S Turner St, Hobbs, NM, 88240 uses $64,643 cash to close to unlock $3,898/yr annual cash flow and $325/mo monthly cash flow. Total monthly income runs $1,469/mo, and a $954/mo payment keeps the spread at $325/mo. Purchase price stands at $195,000, and rental yield measures 9.04% with $1,469/mo rent. Return on cash invested shows 25.94% in year one, and 5% annual appreciation builds toward $53,875 over five years. Five-year ROI reaches 134.77% and total cumulative return in cash records $87,118. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,469/mo property income covering a $954/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.28 Acres 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: Sarah Mackay • Rivas Real Estate Team Co.
Mls Name: New Mexico MLS
Mls ID: #20257058