2609 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 2609 E 24th St, Farmington, NM, 87401 offers a 8.57% rental yield on a $249,000 purchase with $1,778/mo rent. Total monthly income registers $1,778/mo, and a $1,219/mo payment leaves $316/mo available for distribution. Annual cash flow reaches $3,795/yr on $82,544 to close, and return on cash invested stands at 24.51% in year one. Equity gained on principal adds $1,607/yr while 5% annual appreciation supports $68,794 over five years. Portfolio math shows five-year ROI at 127.11% and total cumulative return in cash at $104,924. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,778/mo property income against a $1,219/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1956
6,534 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: Rebecca A Kuchera • CENTURY 21 SoWesCo Realty
Mls Name: SJCMLS
Mls ID: #25-1130