307 Erie AveElephant ButteNM87935
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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 Elephant Butte at 307 Erie Ave, Elephant Butte, NM, 87935 priced at $341,000 converts $2,180/mo rent into $179/mo cash flow after a $1,669/mo obligation. Total monthly income equals $2,180/mo, and annual cash flow totals $2,142/yr on $113,042 invested. Return on cash invested prints 21.8% in year one, and rental yield reads 7.67% against a $341,000 entry. Equity gained on principal adds $2,200/yr, while 5% annual appreciation compiles into $94,212 by year five. Five-year ROI reaches 112.6% and total cumulative return in cash sums $127,280. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,180/mo property income covering a $1,669/mo payment, not borrower’s personal income.
Single Family
Built in 2006
0.30 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: #20254939