2614 Propps DrHobbsNM88240
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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 2614 Propps Dr, Hobbs, NM, 88240 offers a 9.13% rental yield on a $125,000 purchase with $951/mo rent. Total monthly income registers $951/mo, and a $612/mo payment leaves $217/mo available for distribution. Annual cash flow reaches $2,606/yr on $41,438 to close, and return on cash invested stands at 26.2% in year one. Equity gained on principal adds $807/yr while 5% annual appreciation supports $34,535 over five years. Portfolio math shows five-year ROI at 136.24% and total cumulative return in cash at $56,453. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $951/mo property income against a $612/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
N/A 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: Justin Savell • Found Real Estate
Mls Name: New Mexico MLS
Mls ID: #20260472