Awesome investment property! Separate 2 bedroom, 1 bath home with storage shed, fenced yard, fresh outside paint and brand new roof with wash/dry hookups and private fenced yard. Duplex features both as 2 bedroom, 1 bath with fresh outside paint and new roof will go on within the month, both with private fenced yards. Range and refrigerator are included in all units. All units are rented and stay rented, per owner.
Recently remodeled units feature open floorplans with large eat-in kitchens, living areas with wood burning fireplaces, and bedrooms with plenty of storage – all complimented by custom woodwork and quality, hardy contemporary finishes throughout. Add all that to updated thermal windows, a new30-year roof, upgraded stucco and paint, and a new common laundry room, and you’ve got a turnkey investment that will allow the next owner to truly reap the benefits of one of New Mexico’s fastest growing and appreciating real estate markets (without the headache of inheriting deferred maintenance and urgent projects with no upside).Carlsbad continues to grow exponentially as high paying jobs are generated in oil and gas production, agriculture, and one of the most solid tourism sectors in the southwestern united states. Beyond the boom economy, people choose to live in the "the Pearl on the Pecos" for its high quality of life, good schools, and unique recreation opportunities. Now is the right time to tap into one of the nation’s premiere, undiscovered multi-family investment markets. Measures of investment performance at the ask price of $1,098,000 and with average rent of $1,150 include GRM of 11.22, Before Reserves Cap rate of 6.07% and after tax IRR of 13.80%. If rents are raised to market average of $1,324, the cap rates goes to 6.78%.
Recently remodeled units feature open floorplans with large eat-in kitchens, living areas with woodburning fireplaces, and bedrooms with plenty of storage – all complimented by custom woodwork and quality, hardy contemporary finishes throughout. Add all that to updated thermal windows, a new 30-year roof, upgraded stucco and paint, and a new common laundry room, and you’ve got a turnkey investment that will allow the next owner to truly reap the benefits of one of New Mexico’s fastest growing and appreciating real estate markets (without the headache of inheriting deferred maintenance and urgent projects with no upside). Carlsbad continues to grow exponentially as high paying jobs are generated in oil and gas production, agriculture, and one of the most solid tourism sectors in the southwestern united states. Beyond the boom economy, people choose to live in the "the Pearl on the Pecos" for its high quality of life, good schools, and unique recreation opportunities. Now is the right time to tap into one of the nation’s premiere, undiscovered multi-family investment markets. Measures of investment performance at the ask price of $549,000 and with average rent of $1,150 include GRM of 11.22, Before Reserves Cap rate of 6.07% and after tax IRR of 13.80%. If rents are raised to market average of $1,324, the cap rates goes to 6.78%.
Carlsbad is located in New Mexico. Carlsbad, New Mexico has a population of 28,393. Carlsbad is less family-centric than the surrounding county with 30.14% of the households containing married families with children. The county average for households married with children is 30.96%.
The median household income in Carlsbad, New Mexico is $62,932. The median household income for the surrounding county is $60,703 compared to the national median of $57,652. The median age of people living in Carlsbad is 35.8 years.
The average high temperature in July is 95 degrees, with an average low temperature in January of 28.7 degrees. The average rainfall is approximately 15 inches per year, with 9.3 inches of snow per year.
