2604 E 24th StFarmingtonNM87401
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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 Farmington at 2604 E 24th St, Farmington, NM, 87401 uses $86,157 cash to close to unlock $6,583/yr annual cash flow and $549/mo monthly cash flow. Total monthly income runs $2,074/mo, and a $1,272/mo payment keeps the spread at $549/mo. Purchase price stands at $259,900, and rental yield measures 9.58% with $2,074/mo rent. Return on cash invested shows 27.55% in year one, and 5% annual appreciation builds toward $71,806 over five years. Five-year ROI reaches 143.42% and total cumulative return in cash records $123,562. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,074/mo property income covering a $1,272/mo payment rather than investor’s personal income.
Single Family
Built in 1979
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 87401, Farmington, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,834 (100%) |
| Owner Occupied HU | 11,679 (58.9%) |
| Renter Occupied HU | 6,029 (30.4%) |
| Vacant Housing Units | 2,126 (10.7%) |
| Median Home Value | $209,464 |
| Average Home Value | $224,904 |
Housing Distribution
Address Breakdown
Residential
15,432
Single Family
14,640
Multi-Family
792
Businesses
1,527
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Listed by: Zachary Goar • Real Brokerage, LLC
Mls Name: SJCMLS
Mls Provider:
Mls ID: #25-508
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.