2898 Quay Road ArMelroseNM88124
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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 Melrose at 2898 Quay Road Ar, Melrose, NM, 88124 uses $44,753 cash to close to unlock $3,508/yr annual cash flow and $292/mo monthly cash flow. Total monthly income runs $1,085/mo, and a $661/mo payment keeps the spread at $292/mo. Purchase price stands at $135,000, and rental yield measures 9.64% with $1,085/mo rent. Return on cash invested shows 27.75% in year one, and 5% annual appreciation builds toward $37,298 over five years. Five-year ROI reaches 144.53% and total cumulative return in cash records $64,681. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,085/mo property income covering a $661/mo payment rather than investor’s personal income.
Single Family
Built in 2016
10 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 88124, Melrose, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 576 (100%) |
| Owner Occupied HU | 353 (61.3%) |
| Renter Occupied HU | 97 (16.8%) |
| Vacant Housing Units | 126 (21.9%) |
| Median Home Value | $175,260 |
| Average Home Value | $202,882 |
Housing Distribution
Address Breakdown
Residential
380
Single Family
380
Multi-Family
0
Businesses
22
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Listed by: Kathy Segura • Re/Max First Place Realtors Clovis
Mls Name: New Mexico MLS
Mls ID: #20257173