TITLE:
Custom Mountain Home in New Mexico
CONTROL:
Exclusive
VALUE:
$800,000
LOAN:
$280,000
EQUITY:
$520,000
TYPE:
Homes/Condos
HAVE:
2022 built custom built residential property.
WEBSITE URL:
ADDRESS:
8 Melcor De Canoncito, Cedar Crest, New Mexico
BENEFITS TO NEW OWNER:
Projections from AirDNA as a short term rental with new loan(80%ltv 6.25% interest, 30 year. Can get creative with existing 280k debt locked at 3.5%.
GROSS SCHEDULED INCOME:
$149,285 Projected
VACANCY LOSS:
$70,164
GROSS EFFECTIVE INCOME:
$79,121
EXPENSES:
$27,000
NOI:
$52,121
DEBT SERVICE:
$47,280
CASH FLOW:
$4,841
CAP RATE:
6.52%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$280,000
$1,257
4%
01/01/2052
Yes
BENEFITS SOUGHT:
Smaller home around 400k and eliminate the debt. Has considered Colorado and Illinois in the past. Quicker path to cash.
CAN ADD:
Owner is a retired builder/contractor. Can potentially add services.
REMARKS:
This newer, 2022 built home has plenty of room at approximately 2850sqft, 4 bedroom, 4 bathrooms. Functional barn with upstairs storage/play house, all on 2.4 acres. This home is efficiently equipped with ductless mini splits and solar. Several fruit tree
COUNSELOR:
Brandon Sanchez
The Sanchez Group
PO Box 1781
Moriarty, New Mexico, 87035
