405 N 8th StMelroseNM88124
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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 Melrose at 405 N 8th St, Melrose, NM, 88124 generates $0/mo in rent, after a $778/mo payment. Total monthly income is $0/mo. Return on cash invested sits at -1.33% in year one, and rental yield is 0% on a $159,000 entry. Equity gained on principal adds $1,026/yr, while 5% annual appreciation builds toward $43,929 over five years. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $0/mo property income rather than buyer’s personal income.
Single Family
Built in 1930
0.66 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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No similar rental properties found nearby.
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Listed by: Jared English • Congress Realty, Inc.
Mls Name: New Mexico MLS
Mls ID: #20255104