623 W Eva StHobbsNM88242
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 Hobbs at 623 W Eva St, Hobbs, NM, 88242 offers $2,149/mo rent that, after a $1,786/mo payment, leaves $7/mo cash flow. Total monthly income is $2,149/mo, and annual cash flow is $86/yr on $120,998 cash. Return on cash invested measures 19.98% in year one, and rental yield stands at 7.07% at a $365,000 entry. Equity gained on principal adds $2,355/yr while 5% annual appreciation compounds into $100,843 by year five. Five-year ROI records 102.83% and total cumulative return in cash reaches $124,423. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,149/mo property income versus a $1,786/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1978
0.47 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 88242, Hobbs, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,107 (100%) |
| Owner Occupied HU | 2,395 (77.1%) |
| Renter Occupied HU | 481 (15.5%) |
| Vacant Housing Units | 231 ( 7.4%) |
| Median Home Value | $305,246 |
| Average Home Value | $342,977 |
Housing Distribution
Address Breakdown
Residential
3,112
Single Family
3,039
Multi-Family
73
Businesses
44
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Justin Savell • Found Real Estate
Mls Name: New Mexico MLS
Mls Provider:
Mls ID: #20251835
Disclaimer: The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange (IDX) program of the New Mexico Multi-Board MLS. Real Estate listings held by brokers other than Zillow, Inc. are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed.