901 W Illinois StHobbsNM88242
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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 901 W Illinois St, Hobbs, NM, 88242 priced at $169,000 converts $1,328/mo rent into $314/mo cash flow after a $827/mo obligation. Total monthly income equals $1,328/mo, and annual cash flow totals $3,764/yr on $56,024 invested. Return on cash invested prints 26.63% in year one, and rental yield reads 9.43% against a $169,000 entry. Equity gained on principal adds $1,091/yr, while 5% annual appreciation compiles into $46,692 by year five. Five-year ROI reaches 138.64% and total cumulative return in cash sums $77,671. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,328/mo property income covering a $827/mo payment, not borrower’s personal income.
Single Family
Built in 1980
4,356 sqft 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
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Listed by: Chris Lawrence • Trillionaire Realty
Mls Name: New Mexico MLS
Mls Provider:
Mls ID: #20240935
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.