303 Calle Del CorteElephant ButteNM87935
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Elephant Butte at 303 Calle Del Corte, Elephant Butte, NM, 87935 priced at $230,000 converts $1,817/mo rent into $467/mo cash flow after a $1,126/mo obligation. Total monthly income equals $1,817/mo, and annual cash flow totals $5,601/yr on $76,245 invested. Return on cash invested prints 27.26% in year one, and rental yield reads 9.48% against a $230,000 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation compiles into $63,545 by year five. Five-year ROI reaches 141.83% and total cumulative return in cash sums $108,139. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,817/mo property income covering a $1,126/mo payment, not borrower’s personal income.
Manufactured
Built in 1991
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 87935, Elephant Butte, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,222 (100%) |
| Owner Occupied HU | 604 (49.4%) |
| Renter Occupied HU | 110 ( 9.0%) |
| Vacant Housing Units | 508 (41.6%) |
| Median Home Value | $209,091 |
| Average Home Value | $209,441 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
99
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Listed by: Laneer Wrye • Cripple Creek Realty
Mls Name: New Mexico MLS
Mls ID: #20260023