2376 Highway 61HanoverNM88041
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Hanover at 2376 Highway 61, Hanover, NM, 88041 generates $1,800/mo in rent, after a $1,711/mo payment. Total monthly income is $1,800/mo. Return on cash invested sits at 17.3% in year one, and rental yield is 6.18% on a $349,500 entry. Equity gained on principal adds $2,255/yr, while 5% annual appreciation builds toward $96,560 over five years. Five-year ROI reaches 88.47% and total cumulative return in cash sums $102,505. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,800/mo property income rather than buyer’s personal income.
Single Family
Built in 1996
5.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 88041, Hanover, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 545 (100%) |
| Owner Occupied HU | 371 (68.1%) |
| Renter Occupied HU | 58 (10.6%) |
| Vacant Housing Units | 116 (21.3%) |
| Median Home Value | $177,134 |
| Average Home Value | $237,635 |
Housing Distribution
Address Breakdown
Residential
340
Single Family
340
Multi-Family
0
Businesses
5
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Rebecca K Smith • Smith Real Estate & Prop. Mgmt.
Mls Name: SCRMLS
Mls ID: #41387