421 E Main StHobbsNM88240
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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 Hobbs at 421 E Main St, Hobbs, NM, 88240 generates $870/mo in rent and, after a $563/mo payment, leaves $195/mo in cash flow. Total monthly income is $870/mo, and annual cash flow is $2,338/yr on $38,123 invested. Return on cash invested sits at 26.04% in year one, and rental yield is 9.08% on a $115,000 entry. Equity gained on principal adds $742/yr, while 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 135.31% and total cumulative return in cash sums $51,585. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $870/mo property income rather than buyer’s personal income.
Manufactured
Built in 1996
6,311 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 88240, Hobbs, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,431 (100%) |
| Owner Occupied HU | 9,019 (54.9%) |
| Renter Occupied HU | 5,646 (34.4%) |
| Vacant Housing Units | 1,766 (10.7%) |
| Median Home Value | $198,787 |
| Average Home Value | $233,433 |
Housing Distribution
Address Breakdown
Residential
15,706
Single Family
14,019
Multi-Family
1,687
Businesses
1,543
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Listed by: Mayte Rodriguez-Holguin • Elite Real Estate
Mls Name: New Mexico MLS
Mls ID: #20254572