724 Elko AveGrantsNM87020
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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 Grants at 724 Elko Ave, Grants, NM, 87020 generates $894/mo in rent, after a $827/mo payment. Total monthly income is $894/mo. Return on cash invested sits at 17.81% in year one, and rental yield is 6.35% on a $169,000 entry. Equity gained on principal adds $1,091/yr, while 5% annual appreciation builds toward $46,692 over five years. Five-year ROI reaches 91.26% and total cumulative return in cash sums $51,127. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $894/mo property income rather than buyer’s personal income.
Single Family
Built in 1959
8,071 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 87020, Grants, NM area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,822 (100%) |
| Owner Occupied HU | 3,469 (59.6%) |
| Renter Occupied HU | 1,457 (25.0%) |
| Vacant Housing Units | 896 (15.4%) |
| Median Home Value | $155,856 |
| Average Home Value | $195,601 |
Housing Distribution
Address Breakdown
Residential
3,697
Single Family
3,474
Multi-Family
223
Businesses
428
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Listed by: Alene Joyner • Re/Max Alliance Realtors
Mls Name: New Mexico MLS
Mls ID: #20260336