29 Hot Springs Canyon RdHanoverNM88041
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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
Rental property for sale in Hanover at 29 Hot Springs Canyon Rd, Hanover, NM, 88041 generates $1,115/mo in rent and, after a $685/mo payment, leaves $294/mo in cash flow. Total monthly income is $1,115/mo, and annual cash flow is $3,522/yr on $46,410 invested. Return on cash invested sits at 27.5% in year one, and rental yield is 9.56% on a $140,000 entry. Equity gained on principal adds $903/yr, while 5% annual appreciation builds toward $38,679 over five years. Five-year ROI reaches 143.14% and total cumulative return in cash sums $66,430. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,115/mo property income rather than buyer’s personal income.
Single Family
Built in 1978
5 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
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Listed by: Merline Hensley • Deming Realty Co., LLC.
Mls Name: New Mexico MLS
Mls ID: #20254649